If men define situations as real, they are real in their consequences: the maxim of the 'self fulfilling prophecy'. Forecasts that are sufficiently believed, cause people to act in ways that make the prediction come true. Forecasts about the economy can have this self-fulfilling character. Prognostications of popular media commentators on the economy form a large part of the basis of everyone's beliefs about future economic circumstances; if 2009 turns out to be a dreadful year for the economy, to a large extent it will be because people believe it will be. Dr Paul Kattuman explains the phenomenon of the way media forms beliefs and the role it is playing in driving economic behaviour.