Media Repeatedly Calls Economic Declines 'Unexpected'—But Critics Disagree
A pattern in financial journalism has caught the attention of observers: economic downturns, rising inflation, and fiscal challenges are frequently labeled as "unexpected" by major news outlets. Freddie New, Head of Policy at Bitcoin Policy UK, has been highlighting this trend, questioning why predictable economic troubles continue to be framed as surprises by publications like The Guardian and Financial Times.
"Why does the news of a flatlining or shrinking economy always seem 'unexpected' for The Guardian and our economists? This should have been obviously predictable for anyone with half a brain." – Freddie New
The 'Unexpected' Pattern in Headlines
Over the past months, several articles have used the word “unexpectedly” to describe economic events that many, including New, argue were entirely foreseeable:
UK borrowing unexpectedly jumps – Government borrowing reached £17.8bn, exceeding forecasts, yet fiscal instability had been a long-standing concern.
UK economy shrinks unexpectedly – GDP declined by 0.1% in October, despite prior warnings of slow economic growth.
Eurozone stagnation unexpected – Economic activity in the Eurozone failed to grow, another so-called "surprise."
UK economy unexpectedly flatlines for second month – Economic stagnation persisted, contradicting economists' predictions of a recovery.
US inflation unexpectedly rises – Inflation climbed to 3% in January, reportedly catching analysts off guard despite ongoing market trends.
Why Is This Happening?
Critics like New argue that mainstream economic analysis has repeatedly failed to anticipate downturns due to:
Overly optimistic forecasting that ignores long-term warning signs.
A reluctance to acknowledge structural economic issues, such as inflationary pressures and excessive government borrowing.
Political bias in financial journalism, where bad news is often framed as sudden and unavoidable rather than a result of policy choices.
A Broader Issue in Economic Reporting
"Why do we keep being told that out-of-control government borrowing is 'unexpected'? It's not 'unexpected' at all. We've been constantly warning about it." – Freddie New
The repeated use of "unexpectedly" raises questions about how economic trends are analyzed and reported. Are economists failing to read the signals, or are media narratives shaping public perception to avoid accountability?
