Spam Journalism: The spurious use of sensational headlines to add spice to an otherwise pointless article. (MacDoctor definition)
Just for a change of pace a bit of business spam:
“The economy is in its worst recession on record, and the government faces a sea of red ink – will New Zealand end up like Iceland?
“Once a darling of foreign investors because of high interest rates, New Zealand appears almost like Iceland, judging from our current account deficits over the last three decades.”
This is a thoroughly silly article that fails to recognise that there is almost no relationship between New Zealand’s finances and Iceland’s finances except we are both very indebted. However, New Zealand’s indebtedness is an uncomfortable 86% of GDP, Iceland’s was an absurd 600% of GDP (and that was just their banks). New Zealand has almost no direct exposure to the sub-prime crisis; Iceland was heavily exposed to a variety of risky (high interest producing) instruments, many of which were linked to sub-prime loans in the US. There is also little or no diversity in the Icelandic economy (if you don’t catch fish, you must be in banking). New Zealand has a robust, diverse economy.
But, yes, let’s just fabricate a comparison between New Zealand and Iceland so we can do a little more fear-mongering and sell some newspapers…