Posted in Economics & Globalization, Politics & Public Policy, tagged A380, airliner, Americans spend less, baby formula, barriers, bioregionalism, car, Carnival, China, CNN, consumers, contractor, cost cutting, crankcase, Credit Suisse, cruise, currency war, defects, devaluation, doctrine, dogma, Dollar, Dong Tao, drugs, eco-friendly, economic engine, ecoregionalism, electronics, emergency, emerging power, engine, failure, fakes, FDA, Federal Reserve, fire, flimsy, food, G-20, G20, globalisation, globalization, going broke, Green Revolution, grounded, hazards, imitation, improved, jet, job losses, knockoff, landing, leading economy by 2012, leveling the playing field, liberalization, lifestyle realignment, lost income, lower, manufacturers, market, medications, melamine, military gear, mineral, natural resources, news, out of luck, parts, passenger, pets, port, post-American, production, productivity, protectionism, protectionist, protest, Qantas, quality assurance, quantitative easing, rebalance, recalls, recession, recession here to stay, replicas, responsibility, risk, Rolls-Royce, runs out, safety, salaries, scarcity, shady, ship, shocking, shoddy, shortage, Splendor, supplier, sustainability movement, tariffs, tensions, track record, trade liberalization, trade war, treason, treasury bills, troops, turnover, U.S., unemployment, Veteran's Day, wages, way of life, who is to blame for, workmanship, world economy on November 12, 2010|
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Last week: A late-model Qantas A380 jet engine disintegrates mid-air, with passengers lucky to have survived the ensuing in-flight trauma. This week: A two-year-old Carnival cruise ship is towed into a San Diego, California port after an engine crankcase spontaneously splits open, erupting in fire. Passengers in this case, too, were lucky that the worst they suffered was cold food, limited electrical power and non-operable toilets. And in what would have been shocking 10 years ago, news of contaminated meat, recalled produce and unsafe drugs are now so routine that most of us shrug it off.
In such situations, the finger-pointing tends to be brand, manufacturer or supplier-specific. Indeed, it is tempting to chalk up such news to a series of unfortunate flukes. But is that the best and brightest lesson we can draw — or does our mainstream news media tend to downplay or disregard the Big Picture?
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