October 7, 2008

Today's Front Pages Analysis

Financial worries the world over lead newspapers the world over

The first line of the headline on the lead story in today’s Washington Post says it best and says it for and to all: “Global Stocks Sink as Crisis Spirals.” Newspapers the world over are reporting on the financial problems that seem to be truly universal.

The Wall Street Journal Europe in Brussels leads with “Markets plummet around the world,” while The Wall Street Journal Asia in Hong Kong tells its readers that “Fear puts chokehold on global markets.” In Paris, La Tribune says there is panic in the stock market, while The Jerusalem Post leads with “Dow’s wild ride shakes globe.” Gulf News in Dubai, United Arab Emirates, has an all caps banner “BOOM … AND GLOOM,” and The Times in Johannesburg, South Africa, reports the drop in value of the local currency and that “Investors flee markets.”

Financial Review in Sydney, Australia, banners “Markets slide as contagion spreads through Europe,” The Sun in Kuala Lumpur, Malaysia, says, “Wall Street tumbles in global sell off,” The Telegraph in Calcutta, India, notes a “Ripple of terror across markets,” Portafolio in Bogota, Colombia, reports on “another day in the red” and the The Press in Christchurch, New Zealand, also sees red with “Treasury books ‘sea of red ink.’” Meanwhile, Iran Daily in Tehran advises the free world that “Free economic theories doomed.”

In the United States, the Los Angeles Times banner headline reports “Fears of world recession deepen,” The Denver Post reports on “Global sell-off” with a drop headline noting that “Markets tank worldwide as fears of a wide-scale recession spread,” and The Idaho Statesman in Boise also says, “Investors fear worldwide recession.” The Boston Globe has a two-word banner: “Worldwide worry,” and The Star-Ledger in Newark N.J., also tells it all in a two-word banner but makes plural with “Worldwide Worries.” The Birmingham (Ala.) News reports, “Fed weighs radical move in debt market,” and The Plain Dealer in Cleveland tells its readers about “Scary day on the stock market.”

The tabloid New York Post takes a different approach, reaching back to President Franklin D. Roosevelt’s first inaugural address in 1933 to quote in a head that almost fills the page to advise that “The only thing we have to fear, is fear itself,” adding that “FDR was right then. And he’s right now.”

Gene Mater is a Freedom Forum media consultant.

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