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A Flip-Flop For Hacks And Flaks

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A flip-flop for hacks and flaks

In normal times, whatever they are, the flak’s job is to persuade us how well everyone is doing, how clever her client is, what great hurdles they have overcome owing to cleverness.

The hack’s job is to say why that’s nonsense, or at least far from the whole picture. That a small dog with a typewriter could have done nearly as well, under such benign conditions.

In the present circumstances, I think the roles flip, or should, at least a bit.

CEOs and their PRs have get out clauses for almost any failing.

Take any three you like from inflation, Ukraine, supply chains, consumer spending, interest rates, staff departures.

Two things. One, business desks can’t run 20 near identical stories that say essentially the same thing.

Two, none of the difficulties (or excuses) corporate land is offering are news. We‘ve known about them for weeks/months.

So the better line is not – here is our problem, but – here is how we plan to get around our problem.

Or, we avoided the worst of these problems because we’ve been planning for them for yonks.

Failing that, causes for optimism are welcome. The gloomy stuff writes itself.

Press release of the day

Household debt has been above pre-pandemic levels for three consecutive months as they whack bills onto credit cards, the Bank of England reported today.

First to react was Retail Economics, which gave us some comments and some supporting data quite quickly.

Stories that will keep rolling

1) Oil soars again on EU Russia deal. Evening Standard

2) Eurozone inflation hits record 8.1%. FT

3) Bank issues “urgent warning” over new scam. Telegraph

4) Inflation reveals the sickness in Britain’s economy. Guardian

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