Der Spiegel on the Dollar: Exaggeration, Sensationalism and Bipolarity

Here's a question for you: Do you remember seeing an extreme cover like this at Der Spiegel when the Euro was weak just a few years back?

            Dollar Nosedive: The Downfall of the US Currency and the Dangers for the World Economy

Not only did Der Spiegel not run a derisive cover on the Euro currency in its weaker days - it virtually gushed-over with propaganda-like enthusiasm at its introduction:

           Der Spiegel in 2002: Euroland The New Money Power

Viewed in isolation - the Dollar cover might not be considered anti-American. Given the larger body of work of Der Spiegel over the past decade - however - it is difficult to characterize the "Dollar Nosedive" cover as anything but a further manifestation of the festering Hate-America bias that plagues the magazine.

Exaggeration and Sensationalism

Particularly dubious is the use of extreme vocabulary including "downfall" and "dangers". All too often, we have seen Spiegel highlight isolated or temporary problems with the American economy in an effort to convince readers that the overall US economy was on the verge of disaster and collapse. One need only recall the infamous article on unemployment in Kannapolis, North Carolina or the exaggerated claims that the American power grid was on the brink of collapse when the lights went out in New York or the claims that the US infrastructure was in "collapse" after the Minnesota bridge incident.

Euro-Nationalism as Substitute for Forbidden German Nationalism

At the same time, Der Spiegel has repeatedly avoided heaping the same sort of scorn or using the same extreme tone in highlighting the various troubles of the European economy, power grid and infrastructure despite relatively similar conditions (a weak Euro not too long ago) and incidents (power outages, train crashes, faulty infrastructure). Instead - when publishing covers on Europe - they've repeatedly engaged in overt cheerleading - (just compare these covers to these covers). Let's not forget SPIEGEL ONLINE's primative excitement when a Eurofighter apparently defeated two F-15s in a mock battle. This thinly veiled Euro-Nationalism is desirable and useful - in part - as an acceptable alternate outlet (along with large sporting events) for forbidden German feelings of national pride. Unfortunately, the Euro-Nationalism of publications such as Der Spiegel almost always counts anti-Americanism as one of its key ingredients.

Perhaps Der Spiegel could - just once - run a story on America's remarkably low unemployment rate (and the jobs it has created for millions of legal and illegal immigrants) despite record high oil prices. But let's not forget - that would call into question the carefully crafted ideological caricature of the United States as hopeless social wasteland and home to predatory global capitalism.

Bipolar Journalism

Of course one can never underestimate the bipolar inconsistency inevitably on display at Der Spiegel. (Eventually what is reported must - in some way - conform with reality - after all.) In 1999, one cover asking if Europe was a new superpower was followed only weeks later by another cover asking whether Europe could still be salvaged. The extreme contradiction can only be explained by the magazine's habitual use of the extreme to sell magazines combined with the publication's utter lack of intellectual consistency. This is nothing new - and we have seen the same sort of journalistic manic-depression on Iraq in recent weeks and months - with reporting swinging like a pendulum between utter doom and gloom - including a cover declaring the Iraq war "lost" - and reports detailing progress in Iraq and the alleged comeback of the Bush Presidency.

Der Spiegel in a Journalistic Nosedive?

The record lows experienced by the Dollar are unquestionably significant for the world economy. Unfortunately, a factual analysis of the economic advantages and disadvantages of a weaker Dollar has been obscured by the blinding light of media hyperbole and anti-American sentiment at Der Spiegel. This potent combination has worked to sell millions of magazines in the past - and there is no doubt that it will continue to sell millions of magazines in the future - as a significant segment of the German population continues to indulge its voracious appetite for virtually anything that casts the United States in a negative light.

In the case of Der Spiegel's journalistic standards - it would be quite tempting to characterize them as being in a "nosedive." That would not - however - do the magazine justice. One must, after all, attain an altitude slightly above gutter-level to first make such a drop-off possible. 

Comments

[Pamela]

Hold on just one minute. I have a problem with the language used to characterize the article.

Viewed in isolation - the Dollar cover might not be considered anti-American. Given the larger body of work of Der Spiegel over the past decade - however - it is difficult to characterize the "Dollar Nosedive" cover as anything but a further manifestation of the festering Hate-America bias that plagues the magazine.

Well, it may be difficult for you, but it isn't for me. And frankly, I see the language you use as simple pandering to an audience that you think hungers for any evidence of anti-Americanism in German media.

All too often, we have seen Spiegel highlight isolated or temporary problems with the American economy in an effort to convince readers that the overall US economy was on the verge of disaster and collapse

And all too often, Americans are already familiar with that from our own media. Here is your problem: Does the article in the Spiegel column give the readers an informed view of the currency problem or not? Do German readers understand how the currency flucuation impacts their pocketbooks or not?

For you to evaluate this article strictly on its 'anti-American street creds' tells me a few things.

You think you have an audience that will suck up to you because you think we (Americans) want to believe Germans love to hate us.

Fuck off and die.

This is a site where Americans and Germans can meet and try - however awkwardly - to come to terms. It's not easy.

The record lows experienced by the Dollar are unquestionably significant for the world economy. Unfortunately, a factual analysis of the economic advantages and disadvantages of a weaker Dollar has been obscured by the blinding light of media hyperbole and anti-American sentiment at Der Spiegel. This potent combination has worked to sell millions of magazines in the past - and there is no doubt that it will continue to sell millions of magazines in the future - as a significant segment of the German population continues to indulge its voracious appetite for virtually anything that casts the United States in a negative light.

blinding light of media hyperbole: voracious appetite.

Man, you need to sign up for one of those creative writing courses advertised on matchbook covers given out in bars in Brooklyn.

Oh. Nevermind. Apparently, you already have.

If you want to use the Anti-American umbrella to go after Der Spiegal, do it on your own time - and use better arguments.

The point of this blog is NOT to alienate Americans and Germans. It's the exact opposite.

[Pat Patterson]

The US Dollar is being devalued for a variety of reasons but the effect overall will be two fold; A closing of the trade deficit and the forcing of other currencies to also devalue to maintain an ability for its exports to remain attractively priced. The rest is simply jingoism.

Airbus is indeed having a revival, at least of orders so far, but will remain unprofitable due to plane sales being dollar denominated. And since petroleum products are the only item that actually costs more in the US today the effect on the American consumer seems negligible. But one could also ask if Der Spiegel ran covers on the Chinese Yuan, admittedly no longer pegged to the dollar but unnaturally low, is also indicative of a collapsing economy?

[LouMinatti]

"when a Eurofighter apparently defeated two F-15s in a mock battle."

I remember that. The F-15 was designed 40 years ago. US fighter technology has moved on about 3 generations since then. I am not knocking the Eurofighter, but simulated dogfights should be apples-to-apples before bragging rights are awarded.

[Andy]

Pamela

"I see the language you use as simple pandering to an audience that you think hungers for any evidence of anti-Americanism in German media."

Well, even a cursory glance at the previous covers of this rag will tell that things do kinda point in that direction: http://www.dmko.info/covers1.JPG.

What is remarkable about your tirade is that you don't supply a single solitary FACT to back up any of your statements, just insults and put-downs. You simply have bitter, obstinate denial.

"Fuck off and die."

Been on one of those "creative writing" courses yourself then?

[RayD]

@ "Pamela"

Wow...Looks like I touched a nerve.

Let me start by saying that we hardly have to dig very hard to document Der Spiegel's long record of anti-Americanism. Just try out a few of our links. Further, this cover is yet another addition to the well-established tradition of talking down the United States, its people, economy and culture at every possible opportunity to satisfy the readership's anti-American appetites.

Further - I am hardly just evaluating this on Spiegel's past - the cover itself and the language used are over-the-top sensationalism aimed at ripping down the United States economy. The comparison to past treatment of the Euro makes the magazine's bias all the more evident.

In other words - this is not Davids Medienkritik straining to invent anti-Americanism - this is a further obvious case of bias in a magazine that has a long and well-documented history of bias. You have every right to insist that it is not so - just don't expect me to go along with it.

[WhatDoIKnow]

Huh? Is this the "real" Pamela??? Strange...

One may agree or disagree with Ray's post, but the fact is that Der Spiegel is one of the publications that perfected the art or anti-Americanism in Germany.

[OMMAG]

Your registration function seems to be malfunctioning.
I logged in to comment and when I tried to post the comment got an error message stating that I was not registered.

[OMMAG]

Your work here is certainly valuable in that we (your audience) get to learn about instances of journalistic abuse that would otherwise go unnoticed (by us outside of Europe).

One thing you should put in context though is that *Not Only German Media* practices this kind of dishonest and agenda driven publishing.

I call it publishing as opposed to reporting because the aim is simply to sustain sales through a mechanism of manipulating public discussion and pandering to the lowest common denominator of ignorance and entrenched bias.

Noam Chomsky (who I despise) laid this mechanism out in Manufacturing Consent, Although his paranoid delusions of vast right wing conspiracies undertaken by the tools of capitalism and pandering to the needs and wishes of corporate interests were well off the mark, he was absolutely correct about how the media controls and manipulates to serve it's own ends.

The bottom line for publishers is the dollars received from advertising.
They don't need to propagandize for conservative or right wing interests to do it and have found that catering to the prejudices of the left and playing on the fears of the ignorant works well. IMO it's as much of a diversion from the simple materialistic objectives of their business as it is a ploy to sate what their market research tell them is the wants of their subscribers and readers.

The idea of "Reporting" or of presenting realistic and thoughtful editorial views went out the window a long time ago.

If you'd like to see a consistent critical analysis of this kind of "bias" look into Marc Landers whose blog ussneverdock holds British and American media up to the inspection candle.

I also like Jack's Newswatch for things closer to home (for me).

I think the most egregious abusers are the Public Funded Broadcasters.
I Canada we have the CBC, the US has PBS and NPR, Britain has the BBC.

These are all blatantly biased left wing cheerleaders that are consistently hostile to conservative points of view. They distort, confabulate and outright manufacture their reporting and editorial content and do it with Taxpayers money no less.

Now that is a travesty.

[playertwo]

so what pammie is saying is that youre right, but that you have to write up to a higher standard cuz youre conservative. ok....

the german press is leftist and smug, some people cant see that and I think its not only amazing that there's a DMk but also pretty damned funny. Yes, I think its funny when anyone gets at dorks like that. I thought it was hilarious when dan quayle got on canadian tv and the interviewer blob woman thought he was crazy to say there was a bias in their reporting. It is service to all mankind for DMk to continuously stand his ground and point out how fucked up the elitist ingrate press can be in Dland. If you think that that is being sensationalist then keep eating their drivel.

[garydausz]

@OMMAG
"One thing you should put in context though is that *Not Only German Media* practices this kind of dishonest and agenda driven publishing."

That has never been the intention of this blog. This blog is covering the german media and never claimed that dishonesty towards the US (or in general) only exists in germany. If you would have taken some time to read through the articles you would have noticed.

"I call it publishing as opposed to reporting because the aim is simply to sustain sales through a mechanism of manipulating public discussion and pandering to the lowest common denominator of ignorance and entrenched bias."

Spiegel had been anti-american even when it wasn't that popular. The other medias (and I mean 95% of them) have moved in the anti-american direction gradually over the last 10-15 years. in germany the peoples opinion follows the media not vice versa. In my opinion the shift has been caused by the so called 68 generation that has now moved into higher positions of all media sectors. Its not a conspiracy it is just a trend. But this doesn't make it any better.

[commonsense]

Ray,
as usual I am going along with what you say about Anti-Americanism, however let me just ask a slightly different question.
Looking at this graphic, "Exchange rates USD per EUR 2001-2007", one can tell that the EUR won out against the USD almost since its inception.
You ask, "Why didn't Der Spiegel write about the exchange rate EUR/USD in December 2005?" I would ask, "Der Spiegel could have run this sort of story at almost any time during the last seven years. Why are they pushing it *right now* ?"
Fact #1: Germany had a bit of an economical upswing this year (basically created by the booming economies abroad), but for the coming years, things don't look as good.
Fact #2: EADS is now losing money with every Airbus they sell.
Fact #3: The U.S. is actually on the winning road in Iraq. NYT and WaPo ackowledged that already, German media didn't - not at all. They don't even know who Michael Yon is.
Fact #4: There's the Middle East peace conference in Annapolis with the real world chance that some progress will be made. Imagine that: Europeans got nowhere with their talkfests year after year after year, and now the American President they consider 'evil' sets up a conference and he might probably get somewhere with that.
So I think it's all just another distraction from a gloomy European future, the usual half-truth one has come to expect.
And as I see it, the Antiamericanism in the German media has evolved from a club they wielded in the past to a common business tool for everyday use. Like Lenin said, "The ends justifies the means."

[Doug]

@OMMAG -

I stopped reading newspapers in my late teens because every time I did they only made me angry. By my early 20's, I figured out that they were designed to make me angry. I got very angry indeed. But you're right, that's the game - hit people emotionally to sell copy. I blame this for the predominantly leftist nature of media in general, more than actual ideology.

And regardless how correct it is that German media isn't alone, garydausz is right, too - Medienkritik's self-assigned role isn't to provide any sort of balance. Its narrow objective to spotlight a particular tendency of German media.

[GringoTex]

This is off-topic, but I have a question for our Friend Phil from Liechtenstein. (At least he says he is from Liechtenstein.)

Friend Phil from Liechtenstein: You have made it clear that you are AGAINST the United States. What, pray tell, Friend Phil from Liechtenstein, are you FOR?

[WhatDoIKnow]

What, pray tell, Friend Phil from Liechtenstein, are you FOR?

You're kidding, right? Like any other delusional leftist phil considers himself a noble human being who supports international law, understanding, cooperation and equality between all people (excepting of course all Americans, who are less equal than others). Have I missed anything? Oh, yeah, world peace...

[german observer]

The problem I see is with the Chinese dropping the Dollar. This will be Pearl Harbour without the killings.

[commonsense]

"The problem I see is with the Chinese dropping the Dollar. This will be Pearl Harbour without the killings."

Won't happen, you're laughing too early. Lookie here: China, the Dollar, and Christmas

[german observer]

commonsense

I'm not laughing at all, interesting that you insinuate this. An ailing US economy is bad for the whole world.

The dollar keeps on falling (http://www.economist.com/finance/displaystory.cfm?story_id=10113496), although this is not entirely unwelcome to the US economy. There IS little evidence that China will massively sell its dollar reserves, however in the case of a trade war, for example, things might look differently. In the long run, Islamofascism and the German press slant are a ridiculously small threat compared to China.

They need to work on their toys, however.

[joe]

As an aside, reference the F15 and the Euro fighter, I just got back from a short trip to Langley AFB Virginia. I met some of the pilots who have flown against the Euro fighter. When I asked them which aircraft they would want in combat, they just smiled and said they would keep their bird. I found this interesting give the age of the F15.

What I do know is aerial combat is about the integration of systems. It is much more than an airframe. It is about training, command and control, tactics, munitions, intelligence, etc and most of all the pilots who fly.. So I can understand why the F15 is their choice.

[commonsense]

German observer,
thanks for the clarification and sorry for misinterpreting.
I agree with most of your points, though let me make a few observations. You cite the economist in that the dollar keeps falling. However, I read some experts opinion that the oil price will go down again and around 50 USD per barrel mid 2008. Also, the war in Iraq has been a very expensive undertaking so far, but recently we we have seen things getting better over there (a good indicator is: it's not in the German news) and if that development goes on it will actually support the US-currency.

Anyway, let's consider one worst-case-scenario, just for arguments sake. If indeed China tries to get rid of their USD reserves in favour of EUR, many European companies would be severely effected, because they are heavily depending on export and get paid in USD. So the layoffs in Europe would be starting almost immediately with EADS being the first company to go bankrupt. Many others will follow, i. e. the German automobil and IT industries will be decimated.

So, seeing that the European economy is already ver fragile due to heavy over-regulatiing, if China wants to get rid of Europe as a global competitor, it has just to trade off its USD reserves.

[icarus]

@WhatDoIKnow

I think the only one who is kidding here is Phil. Yes, I'm sure to some degree he's anti-American obviously, but his thoughtless unequivocal rants combined conveniently with his claim of citizenship from a country so small as to be invisible and irreproachable sends my BS meter in the red.

I see nothing more than a flame-baiting troll so let's try not to feed him.

[Tropby]

The cover of the Dec 1st 2007 issue of the Economist shows the same allegedly anti-American meme, a crashing and burning dollar-plane.

Possible explanation:

a) Everybody hates Bush^h^h^h^h America.

b) This site is getting more and more paranoid.

[LC Mamapajamas]

Tropby, If statement a)is true, then this site is correct, and the article on the falling dollar is a political statement and not an article on economics.

If statement b)is true, why do you waste your time here?

Which is it?

[Tropby]

if a) is true, then this site is incorrect, as it is no special German, but an universal bias ...

if b) is true, then I am still not wasting my time here, as this is one of the few websites I visit were the pro-Bush/torture crowd still speaks out. On other fora, even hardcore US patriots are asking for Bush´s head now (in a metaphorical sense, of course). I like to be informed about different opinions, even if I consider them to be indefensible.

[Scout]

Oh, OK, Tropby... I get it. Because I'm a regular here, that means I'm pro-Bush and pro-torture. Great. Nice to get that sort of label pinned on oneself. I'll be polite and not mention the labels I'm pinning on you right now.

That having been said, I support the President because he's the President, the duly elected leader of my people. I don't agree with many things he has done, particularly in domestic politics (e.g. border). I don't think that is "calling for his head." Even many conservatives say this administration has done a terrible job of public relations and information management with respect to the GWoT. However, I don't fault the fact that we are conducting the war. Most of his foreign policy I can agree with, with one notable exception: I think he has been far too diplomatic and forthcoming with a bunch of less-than-worthless European so-called allies who are long on criticism, short on actual deeds, and in many cases work contrary to our interests.

[Phil]

(Quote Scout)"That having been said, I support the President because he's the President"

It used to be called the "Führerprinzip".

[Scout]

No Phil, you're wrong (as always), there is no comparison, and carrying out the lawful orders of elected officials who are given such a special trust and confidence by the American people is nothing like blindly following the orders of a madman dictator.

But you knew that. You're only here for the baiting and flaming (as always). Tell me, have you moved out of your parents' basement yet? Have you ever done anything honest, courageous, or productive in your seemingly miserable life? Just wondering.

[Phil]

Well, I guess trying to get personally offensive is the surest sign of having lost the argument. What have you done that is "honest, courageous, or productive"? Put on a GI Joe uniform and shot at unarmed civilians with bullets paid for by US taxpayers? My, what a big man you are, John Rambo.

[GringoTex]

As Friend Phil has not answered this question from a previous posting, I will repeat it.

Friend Phil from Liechtenstein(At least he says he is from Liechtenstein.): You have made it clear that you are AGAINST the United States. What, pray tell, Friend Phil from Liechtenstein, are you FOR?

[Scout]

"...lost the argument?" Since when have you started arguing, Phil? All you do is spout out poison. I'd repeat my question, but you wouldn't answer it this time around either.

[Phil]

"You have made it clear that you are AGAINST the United States. What, pray tell, Friend Phil from Liechtenstein, are you FOR?"

I'm an anarchist.

[Scout]

Another 'clever' answer, thanks, Phil.

I'll take that as a "no" to both my questions.

[MarkD]

Somewhat sensationalized, but not Anti-American, in my opinion.

When I was a kid, things cost a lot less. We imported less. My dad didn't make nearly as much money as I do, but a lot of the nominal increase is really inflation. What is undeniably true is that I live better than my father did, and we are rougly comparable in professions and careers. I have a bigger house, drive better cars, have multiple televisions, have things that didn't exist in his early lifetime like computers, a microwave oven, etc.

Things are better for my kids, and i expect they will be even better for theirs, regardless of what the dollar does.

[Thomass]

To Mark D,

Yeah, I've noticed the same things (and I'm in the same situation, I make around what my Dad made/s).

We went to Europe only a few times when I was young (and it was big deal, including financially). I've gone twice in the last few years and can afford to go every couple if I want.. now. The foods I can afford are better, the furniture, et cetera... and I still save about 15% of my income (which was more than they did at my age).... There has been inflation of course... but not everywhere (air travel, no)... and some things may cost more, but they're better quality now (you can get a nice olive tapenade now, which wasn't even in the stores 20 years ago, for the price of some weird meat spread with a devil on the can...)...

All in all, it certainly seems like my purchasing power is greater….