Why we have lesser room in financial journalism??

[sarahddlj]

Guys I found this place active with regards to economics and finance so I wana ask everyone here why we are so much lag behind in financial journalism. our media is working on every tiny issue but giving lesser information and awareness to masses on economy and finance why only a business daily is enough for us??

 

[SBD-3]

Guys I found this place active with regards to economics and finance so I wana ask everyone here why we are so much lag behind in financial journalism. our media is working on every tiny issue but giving lesser information and awareness to masses on economy and finance why only a business daily is enough for us??

Unfortunately, for being a good financial journalist, you have to be a good economist\financial expert. And Newspapers wont be willing to pay much to a qualified economist than what a bank pays him. The situation is so bizzar that many institutions e.g. State Bank were forced to introduce "financial education programs" for journalists citing their incapability to interpret economic facts. Its a pity when some dumb guy articulates on economic and financial issues when he has no sense of it.

 

[AsifAmeer]

Honestly, I'd work for free. But my articles tend to make way too much sense.

Hasnain what you shared here, is what i experienced at American Universities. No qualified professor would teach derivatives or investment class! Costed me $45k to realize that fact. Afterall why would anyone teach for $40k when he can make that much on a single trade!

In Pakistan, I mosted see Former Governers of State Bank yelling about country's economic condition. Then you have the dumbed down public which doesnt understand anything till you sprinkle news material with Zee-tv style horror music.

Pakistan is financially, economically, intellectually and morally bankrupt.

Unfortunately, for being a good financial journalist, you have to be a good economist\financial expert. And Newspapers wont be willing to pay much to a qualified economist than what a bank pays him. The situation is so bizzar that many institutions e.g. State Bank were forced to introduce "financial education programs" for journalists citing their incapability to interpret economic facts. Its a pity when some dumb guy articulates on economic and financial issues when he has no sense of it.

 

[SBD-3]

Honestly, I'd work for free. But my articles tend to make way too much sense.

Hasnain what you shared here, is what i experienced at American Universities. No qualified professor would teach derivatives or investment class! Costed me $45k to realize that fact. Afterall why would anyone teach for $40k when he can make that much on a single trade!

In Pakistan, I mosted see Former Governers of State Bank yelling about country's economic condition. Then you have the dumbed down public which doesnt understand anything till you sprinkle news material with Zee-tv style horror music.

Pakistan is financially, economically, intellectually and morally bankrupt.

I would rather disagree with the bold part because Pakistan is enriched with good intellectuals, but often we like to go into grey areas where we should be going unless we dont have a complete grasp of things we are saying. For example, few days ago, I passed upon Orya Maqbool Jan's column on Japanese Banking System and he was saying that since BoJ follows "zero interest rate" policy, thus it was the blessing of getting rid of "interest" which was responsible for Japanese Economic Miracle. Now if we look in Islam, it sets a benchmark for transactions, "The profit belongs to those who are willing to bear the loss" and of course the principal of equity . Now if we take a simple example where depositor is getting nothing on his money while the lender is not paying anything on his money (includes government) his is a severe violation of equity principal of Islam. It is because of this that we see Japanese Government debt to GDP being world's largest (185-190%). I personally believe if he were to write on interest free banking system them Malaysia should have been the example not the Japan. Secondly, Japan's Economic Miracle was not mere the result of Zero Interest Rate policy (which came in 90s) , instead, the efforts of Japanese government establishing industry, funding enterprises and achieving remarkable 92% Primarly enrollment and around 60% Tertiary Education rate. Their start was also very modest, they started by copying US (Thats a fact!) as it was the most easy thing they could do initially, but they stayed committed and gradually got solid footings as the industry was supported by abundant highly skilled labor thanks to their efforts in education. In short, when you see none of these happening in Pakistan, doesn't it amazes you that even with 2% Tertiary education Pakistan is doing so well?

 

[livingdead]

Honestly, I'd work for free. But my articles tend to make way too much sense.

Hasnain what you shared here, is what i experienced at American Universities. No qualified professor would teach derivatives or investment class! Costed me $45k to realize that fact. Afterall why would anyone teach for $40k when he can make that much on a single trade!

In Pakistan, I mosted see Former Governers of State Bank yelling about country's economic condition. Then you have the dumbed down public which doesnt understand anything till you sprinkle news material with Zee-tv style horror music.

Pakistan is financially, economically, intellectually and morally bankrupt.

Dont you have specialized tv news channels or print media for business and finance.
In India most business daily are even separate coloured (yelloish), and usually bit expensive.
Example newspapers: Economic Times, Business Standard etc.
News channels: NDTV profit(English), CNBC TV18 (English), CNBC Awaz(hindi) etc

 

[AsifAmeer]

Thats almost funny what you mentioned about Orya's Comment. If he had studied the history of the Japanese miracle which was an asset bubble than ended in 1991. BoJ dropped its rates starting 1993. The miracle wasnt because of 0% interest rate, but the 0% interest rate was introduced to keep the gravy train of asset bubbles moving. This is what I call Intellectual bankruptcy. Failure to understand the complexities of interconnected issues. And in no way am I saying that the ppl are dumb or anything. I dont believe in Racism. But I do believe in "Culture". The education in Pakistan is to be blamed for it. Merely going to Western Universities sometimes isnt enough to unlearn. Misconceptions are hard to fix. Sadly, I do believe that Pakistan is overwhelmingly Financially, economically, Intellectually and morally bankrupt.

I would rather disagree with the bold part because Pakistan is enriched with good intellectuals, but often we like to go into grey areas where we should be going unless we dont have a complete grasp of things we are saying. For example, few days ago, I passed upon Orya Maqbool Jan's column on Japanese Banking System and he was saying that since BoJ follows "zero interest rate" policy, thus it was the blessing of getting rid of "interest" which was responsible for Japanese Economic Miracle. Now if we look in Islam, it sets a benchmark for transactions, "The profit belongs to those who are willing to bear the loss" and of course the principal of equity . Now if we take a simple example where depositor is getting nothing on his money while the lender is not paying anything on his money (includes government) his is a severe violation of equity principal of Islam. It is because of this that we see Japanese Government debt to GDP being world's largest (185-190%). I personally believe if he were to write on interest free banking system them Malaysia should have been the example not the Japan. Secondly, Japan's Economic Miracle was not mere the result of Zero Interest Rate policy (which came in 90s) , instead, the efforts of Japanese government establishing industry, funding enterprises and achieving remarkable 92% Primarly enrollment and around 60% Tertiary Education rate. Their start was also very modest, they started by copying US (Thats a fact!) as it was the most easy thing they could do initially, but they stayed committed and gradually got solid footings as the industry was supported by abundant highly skilled labor thanks to their efforts in education. In short, when you see none of these happening in Pakistan, doesn't it amazes you that even with 2% Tertiary education Pakistan is doing so well?

---------- Post added at 03:06 PM ---------- Previous post was at 03:05 PM ----------

Well in the US we only get ARY, GEO and PTV. Business news on those channels are almost nonexistent.

Dont you have specialized tv news channels or print media for business and finance.
In India most business daily are even separate coloured (yelloish), and usually bit expensive.
Example newspapers: Economic Times, Business Standard etc.
News channels: NDTV profit(English), CNBC TV18 (English), CNBC Awaz(hindi) etc

 

[VCheng]

.............................

Pakistan is financially, economically, intellectually and morally bankrupt.

Careful there buddy; saying stuff you believe to be true, and even if supported by evidence, will still get you infractions and bans.

Don't ask me how I know!

 

[livingdead]

[/COLOR]Well in the US we only get ARY, GEO and PTV. Business news on those channels are almost nonexistent.

Then is it not bit harsh to judge general purpose news channels who have to dumb down the news for wider audience, and say all those things.
There has to be separate business bulletin or dedicated business channels, because it is not of interest to general public.

Even BBC news does not do that.( apart from few minutes about ftse)

 

[AsifAmeer]

Am I supposed to yell

"They can block our posts but they can never disable all our 15 accounts!!" ?

Careful there buddy; saying stuff you believe to be true, and even if supported by evidence, will still get you infractions and bans.

Don't ask me how I know!

 

[VCheng]

Am I supposed to yell

"They can block our posts but they can never disable all our 15 accounts!!" ?

I don't know about anyone else; this is my only account.

 

[Jango]

Business news are a routine on GEO, Aik se do any one, i think that is the name of the program.

 

[xTra]

Am I supposed to yell

"They can block our posts but they can never disable all our 15 accounts!!" ?

WTF is this.

 

[sarahddlj]

In Pakistan, I mosted see Former Governers of State Bank yelling about country's economic condition. Then you have the dumbed down public which doesnt understand anything till you sprinkle news material with Zee-tv style horror music.

Agree with you Asif the problem is at both end..whether media or public ... issue is public is less educated in terms of economy and finance.. they rnt bother to know where the eco is going..and how politics ruining this.... and media houses.. only sells what for sale. ...

 

[SamranAli]

we hav Busines Plus tv, CNBC PAKISTAN, also daily busines recorer, and separate pages for busines,