No matter the media outlet, there are certain conclusions that the bulk of US news consumers reach. Russia is in serious danger from a long-term business perspective. The United States is in a bad position and failing to thrive economically. Mexico continues to be a gang-controlled danger zone and, thus, will be held back from a business standpoint. China’s downturn should be worrying credit grantors. These, among other assertions and conclusions, would be hard-pressed to be further from the truth, said Kevin Hebner, senior FX Strategist at JPMorgan.
While serving as an instructor at the inaugural year of NACM's Graduate School of Credit and Financial Management International (GSCFMI) last week, Hebner poked holes in all of these assertions to show that mainstream media's surface-level coverage often paints an incomplete or inaccurate picture.
Regarding the United States, Hebner suggested media coverage and, in some ways, consumer confidence is tainted by equating business conditions with the general disappointment with the effectiveness of the US Congress. "Washington, DC, fortunately, has been more of a spectator and doesn’t have much in the game right now," Hebner said. "The US is actually doing quite well." He called it the least-volatile economy in the world at present.
For more on this story, check out this week's edition of NACM's eNews.
- Brian Shappell, CBA, CICP, NACM staff writer