Maybe it is due to the internet. Maybe it has everything to do with the internet.
Marshall McLuhan, the famous "media guru" during the radical 60s, made an interesting observation: Government by news leak.
In the past few weeks we have witnessed a few Federal Reserve Board of Governors making public statements and granting interviews. This is actually highly unusual. The Fed folks at the top of the ladder have traditionally kept their thoughts about future interest rate policy close to the vest. Telling tales out of school was considered a non-non, a high level breach of protocol.
Recently Bloomberg radio and its TV division have broadcast the views of Larry Summers who served as a heavy hitting economic policy maker some two decades ago, then went to pasture as a Harvard professor. He has since resurfaced, taking on the role as the Cassandra, warning the world that the chances of a global recession are greater than the current heavy hitting economic policy makers currently serving the planet would want the world to believe is possible.
In dire times, it seems the media will always focus an inordinate amount of attention on the self appointed. Maybe Larry Summers became bored with being an ordinary Harvard professor and decided to seek the limelight he once enjoyed when he was a member of the Washington inner circle.
That said, it doesn't mean his views about a possible economic recession being a strong possibility. Nobody likes hard times, unless you're Jeff Bezos, or a trust fund bum wasting away your life playing cards in the lounge of a country club with the rest of your trust bum buds.
That, at least in America, is an exceedingly small percentage of the total US population. The rest have to work for the money spent on energy, food, insurance, child-care and so forth.
We will all know in the fullness of time what is to take place in the next couple years.
