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USA Edition | Today Is Sunday, May 19, 2013 |
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Welcome To Newsroom Magazine
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Thanks To You We're Growing Faster Than Ever Before
Chances are you've noticed that Newsroom Magazine is a very different publication.
We care about journalism -- and we're well aware many other organizations do it far better than we.
Our editorial standards, rules of custody, and skeptical editing for everything we produce, disseminate or expose to public viewing reflects a seriousness of purpose.
Six years after our founding, Newsroom Magazine continues to evolve the online publishing and preservation model we pioneered.
There is good news to share: Newsroom Magazine is is thriving.
And some less good news: Our limited resources, both journalistically and financially, are limiting our expansion of content.
Online News Preservation
In the six years since its founding, Newsroom Magazine has extended the field of news publishing into previously uncharted areas.
We take a long range view of news -- one that considers both timeliness and historical merit.
What we do, and how we do it, was not possible in the print media era -- for our content is both timely and timeless in the sense that we share the power of immediacy with all online media plus the perseverance of an encyclopedia.
Newsroom Magazine's publishing model goes beyond immediacy -- for unlike the newspaper era -- what we publish is permanently preserved. And tagged, indexed, and constantly updated by automated sitemap sharing with Google, Yahoo, Bing, Yandex, Baidu, Sogou, Ewatch, Alexa, Facebook, and others at home and far away.
All of our content, is meant to be preserved. Thanks to the capture and storage of our content at Google, including all updates and changes, and full collection archiving by the U.S. Internet Archives, everything we say, write, opine -- whether wise, foolish, or inconsequential-- is preserved.
Newsroom Magazine content remains forever online, searchable and accessible 24 hours a day worldwide.
What's Hot Is Rarely What Matters
What we publish today is rarely as timely as the more traditional publications and online newspapers. What we choose to publish, sometimes days or months after a story first breaks, or on a subject neglected by most commercial media, is chosen to reflect one aspect of an ongoing reality for long term preservation.
From a handful of English-only readers when we published our first article -- the 1958 Edward R. Murrow speech before the Radio Television Directors Association in Chicago -- we have grown and wizened about our responsibilities to our readers and our own limitations and shortfalls.
Our most read article so far this year, The Adventures Of Bernie In Wonderland, was published November 23rd, 2009. The article consists of the unexpurgated SEC interview of Harry Markopolos in the Bernie Madoff Ponzi swindle case. It is not very interesting reading and it is very long -- but we published it in the belief that what it revealed was important and unlikely to remain online in its original format.
Newsroom Magazine's Storehouse Grows Every Day
The number of publications who devote themselves to publishing credible, responsible and probative content for posterity has dwindled.
Today Newsroom Magazine publishes a storehouse of credible, probative and relevant content -- well over 5000 articles including commentaries, essays, definitions, photographs, stories, reviews, discussions, tutorials, and logical explanations.
Our readership is nearly three times was it was only last year. Few might come to our content for entertainment -- for our purpose is otherwise.
If You Publish, They Will Come
We are read on Capitol Hill, along K Street, and in the halls of government inside the beltway and around the world.
We are read daily on college campuses at home and abroad. We're visited from military ships at sea. We serve law-firms, major corporations, Wall Street the UK Parliament, state governments and cities with credible useful information.
Some of the world's most prestigious news organizations use Newsroom Magazine for fact-checking.
Government Information Unfiltered, Sometimes Imperfect
The amount of official news proffered each day by government, whether at home or abroad, is accelerating. Some of it newsworthy, most of it not.
Our job is to thoughtfully choose what's worthy of the attention of our readers.
About 1% of government issued news we receive each day qualifies as newsworthy. Only the most relevant, or reflective of government at its best, or at its worst, or evidence of overreach, or ineptitude makes it newsworthy.
We leave the issue of deciding which if any of these qualifications applies to what we publish up to the reader.
Formatted For People On The Go, Or On The Hunt
All of our government news content includes above the headline call out meant to convey the principal facts, action or information for those with little time to read a long document.
Our job is to carefully and skeptically choose relevant governmental content for our readers -- and to include the unexpurgated original source material, whose chain of custody we control.
Online Editorial Standards, Ethics And Purpose
Our commitment to time-honored journalistic standards and a clear statement about the ethics to which we agree to be held today and tomorrow, Newsroom Magazine began publication when the Internet was young -- 2006.
Our prime mission then, as now, is to publish non political ideas, definitions, essays and editorials.
To speak to the state of this honorable calling.
And to inform the public about those things, events and ideas that matter most to us all.
Today, tomorrow, forever.
Editorial Standards & Policies
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Directors observed that a sharp slowdown of global growth could have a significant impact on LICs, leaving many with larger financing needs and reserve coverage below three months of imports. They agreed that, to avoid aggravating the negative economic and social impact of such a shock, countries with sufficient fiscal room should seek to maintain growth-friendly spending, particularly on infrastructure.
Washington
IMF Executive Board Discusses Global Risks, Vulnerabilities, and Policy Challenges Facing Low-Income Countries
November 16, 2012
On November 2, 2012, the Executive Board of the International Monetary Fund (IMF) met to discuss risks, vulnerabilities and policy challenges facing low-income countries in an uncertain global environment.
Background
The rapid recovery in many low-income countries (LICs) following the 2009 global crisis has been sustained in 2012. Lower commodity prices have led to moderating inflation pressures in most LICs. However, progress in rebuilding policy buffers has halted over the past two years, despite the continued strong growth. As a result, many LICs have more limited fiscal buffers and larger current account deficits than prior to the crisis. Furthermore, although the near term risks for LICs of a shock-induced recession have been reduced since the 2009 crisis, vulnerabilities are re-emerging in 2012 given the lower macroeconomic policy buffers.
Short-term risks to the global outlook are tilted to the downside, and LICs remain highly vulnerable to a euro-centered growth shock, a protracted slowdown in global growth, and spikes in global food and fuel prices. To assess LICs’ vulnerabilities to these emerging risks and explore related policy challenges, IMF staff conducted its annual vulnerability exercise for LICs (VE-LIC) based on an analytical framework developed in 2011.
Executive Board Assessment
Executive Directors considered appropriate and timely the report’s focus on risks to low-income countries (LICs) from a sharp downturn in global growth, a more protracted slowdown in growth, and a spike in food and fuel prices. They concurred with staff’s policy recommendations, while emphasizing the importance of a more discriminating analysis based on individual country or regional differences. Directors called on staff to take concrete steps to incorporate these recommendations into Fund surveillance, lending programs, and technical assistance, taking into account country-specific circumstances and constraints, particularly in the case of small countries.
Directors noted that most LICs exhibited continued strong growth since the global financial crisis, benefitting from the enhanced economic resilience and solid macroeconomic positions built up in previous years as a result of improved policy frameworks. However, they were concerned that the rebuilding of policy buffers has halted, making many LICs less prepared now to deal with external shocks than before the crisis. Directors encouraged LICs to continue to rebuild policy buffers, while balancing adjustment against the need to maintain or raise growth and preserve priority spending. They highlighted several broad priorities for stoking domestic engines of growth to substitute for weaker global demand and reduce the impact of external shocks. These include deepening financial sector development, developing domestic debt markets, strengthening financial regulation and supervision, improving the business climate, and better targeting investments in infrastructure to increase productivity and long-term inclusive growth. Some Directors emphasized that enhanced technical assistance would contribute to accelerating these reforms in LICs.
Directors observed that a sharp slowdown of global growth could have a significant impact on LICs, leaving many with larger financing needs and reserve coverage below three months of imports. They agreed that, to avoid aggravating the negative economic and social impact of such a shock, countries with sufficient fiscal room should seek to maintain growth-friendly spending, particularly on infrastructure. They noted, however, that with donors facing severe budget constraints, some LICs may find it difficult to finance increasing deficits, and that some adjustment would be appropriate and inevitable.
Directors emphasized that the impact of a protracted global growth slowdown would be more substantial over the medium term, given the potential permanent output losses that accumulate over time. They cautioned that, absent adjustment, unsustainable financing needs could emerge in LICs. In this context, they noted that most LICs would need to be ready to adjust, although the pace of adjustment should take into consideration countries’ available fiscal space and growth prospects. Directors emphasized the importance of striking the right balance between revenue and expenditure measures, while noting that monetary policy and exchange rate flexibility could play an important role in facilitating adjustment in the event of a protracted growth decline. A few Directors noted, however, that monetary policy would necessarily play a secondary role to fiscal policy in many countries, given limitations in the transmission mechanism and poorly-anchored inflationary expectations.
Directors noted that many LICs remain highly vulnerable to global commodity price shocks. They concurred that the impact on inflation and poverty of the food price increase could be significant because of the large share of food in consumer baskets, with implications for social and priority fiscal spending. An oil price increase, while having a lesser impact on inflation and the poor because of pervasive fuel price controls, would generate large fiscal costs and increase financing needs. Directors observed that the fiscal exposure to commodity price shocks could be significantly reduced by eliminating domestic food and fuel price controls while building effective social safety nets. They also noted that monetary policy should respond quickly to such shocks to curb second-round inflationary pressures.
Directors noted the potential increased demand on Fund resources if these risks materialize. They underscored that the Fund should stand ready to provide additional financial and technical support to LICs if needed. In this regard, they reiterated the importance of the Fund having adequate concessional resources, as highlighted during the recent review of facilities for LICs and in the decision on the “Proposal to Distribute Remaining Windfall Gold Sale Profits and Strategy to Make the Poverty Reduction and Growth Trust Sustainable.”