Follow @PoliticsIE
 
 
 
Page 1 of 14 1234511 ... LastLast
Results 1 to 10 of 131

Thread: Reviewing the Irish media’s role in Ireland’s housing bubble

  1. #1
    Politics.ie Member
    Join Date
    Oct 2011
    Posts
    393
    Mentioned
    0 Post(s)

    Default Reviewing the Irish media’s role in Ireland’s housing bubble

    It is well documented on internet forums, blogs and other 'new media', but now some academic research has been conducted into the Irish media’s role in Ireland’s housing bubble.

    The Why | Broadsheet.ie

    The Role Of The Media In Propping Up Ireland’s Housing Bubble

    Another way to look at the performance of the Irish media before the crisis is to consider that between 2000 and 2007, the Irish Times published over 40,000 articles on economic topics – but only 78 were about the real estate bubble, or 0.2 per cent of the total. In other words, any article that might have been critical about the housing market was effectively lost in a sea of uncritical reporting. That’s a very poor record for one of the most important economic events in Ireland over the last decades.

    Irish Times articles’ titles mention in the research give an idea of the tone of the media coverage:

    'Bricks and Mortar Unlikely to Lose Their Value’ (11 December 2002)
    ‘Prices to Rise as Equilibrium is Miles Away’ (18 March 2004)
    ‘House Prices “Set for Soft Landing”‘ (22 November 2005)
    ‘Property Market Unlikely to Collapse, Says Danske Chief’ (2 February 2006)
    ‘House Prices Rising at Triple Last Year’s Rate’ (29 June 2006)


    and if ever an image illustrated the act of shutting the stable door after the horse has bolted.....



    In a similar vein to many other facets of Irish life, the the Irish media don't do introspection, so don't be excepting a Mea Culpa any time soon.

  2. #2

    Default

    This is shiel's job.
    I have no money, but I love my life.

  3. #3
    Politics.ie Member
    Join Date
    May 2009
    Posts
    600
    Mentioned
    0 Post(s)

    Default

    The print media in this country are a complete and utter joke. They are just mouthpieces for vested interests. The Irish Times and the Independent were all over the property bubble like flies to a turd. But they weren't calling it out for what it was or asking any hard questions, they were cheerleading it like nobodies business. Sure the Irish times even went and bought that property pimping website (MyHome.ie I think). They have less than zero credibility in my eyes. I couldn't care less if both the times and the Independent group disappeared in the morning.

  4. #4
    Politics.ie Member Dublin 4's Avatar
    Join Date
    Feb 2011
    Location
    Vision & Glory
    Posts
    12,986
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by toratoratora View Post
    They are just mouthpieces for vested interests.
    Classic one-liner - one of the best I've came across.

    We can add RTE to that too.

  5. #5
    Politics.ie Member
    Join Date
    Feb 2006
    Location
    Dublin
    Posts
    5,124
    Mentioned
    0 Post(s)

    Default

    I can't believe 'academics' have had to do a study to realise how a lying media lied to the most gullible people on earth. Anyway, people only have themselves to blame if they claim they were influenced by the media in their decision to buy a property. I wonder how many of those people often used the expression "a paper never refused ink" prior to their purchase?

    As for paying for the privilege of being lied to? Madness.
    Racism = fear, low self-esteem and breath-taking ignorance.

  6. #6
    Politics.ie Member
    Join Date
    Oct 2008
    Posts
    14,052
    Mentioned
    0 Post(s)

    Default

    1. Print media hyped the property market - all that advertising!

    2. Irish times had also bought an internet property advertising company for afaik €50 mln

    Those were the days

  7. #7
    Politics.ie Member
    Join Date
    Feb 2011
    Posts
    16,278
    Mentioned
    0 Post(s)

    Default

    The OP is too narrow in its focus. The issue of the failure of the media, including the internet, to hold the powerful to account during the Celtic tiger period is wider than just the property bubble.

    Of more fundamental importance is the issue that one party dominated politics for nearly a quarter of a century.

    To maintain one group of people in continuous power, no matter who they were, was the antithesis of democracy. The basic law of political science is that power corrupts. That applies to all of us irrespective of party. Insider elites can never be paragons of rectitude.

    The problem was that media accepted government propaganda during that quarter century that the opposition were not fit to rule. Our former imperial masters made the same point about the Irish for nearly 800 years.

    The Irish media, therefore, should not have pedalled this line. On the contrary they should have challenged it.

    As a result of their failure to hold the powerful to account all of us were put at the mercy of government spin doctors.

    We were also at the mercy of a small number of dominant media outlets who supported the government line and consistently ignored or ridiculed the opposition.

    Journalists should have held those in power to account not because they were a particular political party but because they were the government and had been in power too long.

    Instead they got into the tent with them.

    We are living with the consequences in having a country bankrupt by the hubris of those who thought they were masters of the universe.

    To cap it all the same media is complaining about the consequences of their own failures today.

  8. #8

    Default

    apologies now this has nothing to do with the said thread but i do not have enough posts to start a thread as yet but this needs to be heard.
    5 people shot dead this afternoon in Illinois in the US
    Breaking news on the american networks
    shooter still on the run apparently, one more injured

    USA RIP

  9. #9
    Politics.ie Member
    Join Date
    Oct 2011
    Posts
    393
    Mentioned
    0 Post(s)

    Default

    Quote Originally Posted by shiel View Post
    The OP is too narrow in its focus. The issue of the failure of the media, including the internet, to hold the powerful to account during the Celtic tiger period is wider than just the property bubble.

    I think you misunderstand the intent of the research, it was to focus on the previously un-highlighted role of the fourth estate in the creation of bubble. Of course the media could not have single-handedly created it, but could the bubble have been created without them?

    I very much doubt it.

    The researchers go into more in the paper, but here is a snippet from the conclusion which tallies somewhat with your post.

    Quote Originally Posted by Conclusion
    The overall argument is that the Irish media are part and parcel of the political and corporate establishment, and as such the news they convey tend to reflect those sectors’ interests and views. In particular, the Celtic Tiger years involved
    the financialisation of the economy and a large property bubble, all of it wrapped in an implicit neoliberal ideology. The media, embedded within this particular political economy and itself a constitutive element of it, thus mostly presented
    stories sustaining it. In particular, news organisations acquired direct stakes in an inflated real estate market by purchasing property websites and receiving vital advertising revenue from the real estate sector. Moreover, a number of
    their board members were current or former high officials in the finance industry and government, including banks deeply involved in the bubble’s expansion.

  10. #10
    Politics.ie Member Analyzer's Avatar
    Join Date
    Feb 2011
    Location
    Northern Ireland - without forgiveness, there is dysfunctionality.
    Posts
    46,117
    Mentioned
    0 Post(s)

    Default

    They were a disgrace.

    Perhaps the BoI Chief Economist who appeared every Friday in the Irish Times BS (Business Supplement) was the worst.

    Austin Hughes, who also penned articles for the IT BS, was always running him close though.

    It is scary to think that they were taken so seriously in this country. And to think that one of them is still in a job thanks to the PAYE taxpayers, who were the recipients of much of the deceit.

    Do we have any self respect in this country ?
    Last edited by Analyzer; 24th April 2013 at 06:30 PM.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

Page 1 of 14 1234511 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •