Post

When I was in practice, my firm asked me to go to London for "a few weeks, a month maybe." The 6 months I spent there were foundational for my career. One habit I picked up was reading the Financial Times—for reasons of focus, quality, and perspective. Like the broader UK press, they're permabears.

This year, however, US media has tilted into bearishness or at least balance, eroding the distinctiveness of the UK press. Even in the WSJ and other financial media, you can read deeply reported skeptical takes on the catalyst of the US boom (AI).

At a minimum, the US financial press is now both a cheerleader and a megaphone of concern. In the non-financial press, negativity about everything consumer and employment dominates, as well as negative AI. Increasingly I wonder where this leaves the distinctiveness of the Sceptical British Take.

This thread prompted by OP's thread on labor market strength. It's hard to find anything like this in US non-financial media or UK financial media. It saddens me a bit because I find myself reading the FT less. "Maybe this positive financial indicator is actually bad" is a well-reported story now.