The dumbed down state of financial reporting on TV

[nunrgguy]

Generally I don't watch the news but caught Channel 4 news tonight.

How DO they get away with feeding us all this utter utter tripe:
Inflation is up (no sh1t Sherlock).
Commodities prices are all rising (petrol up 45% in 12 months). Erm, yeah...what about the previous massive DROP which didn't get passed on at the pumps??

But they're calling this the usual b0llox of a word 'volatility', which to gen public means 'it's not going the way I'd like it to'. What do they call it when a market tanks and wipes away Joe Shmoe's life savings because he bought because 'it was going up'? 'Volatility'.

'It costs me £15 a week more to go to work than it did last year' says A Woman, 47. NOTHING to do with devalution of the dollar, the Fed playing games and bombs going off in Libya. Oh no no no!

Who's/what's to blame? Is it the collapse of western economies due to general all round greed and lax credit controls? Nope
Is it governments? Nope
Is it the banks that control the governments? Nope
Is it corporations? Nope
Is it QE2, 3, 4 5 6? Nope
Is it Penry, the mild mannered janitor? Nope

So what is it then?
Evil speculators, that's what it is. We need a lynchin'. Start the witch hunt now.
Regulate regulate regulate they all shout like a bunch of retarded Dalek's.

Mervyn King: 'We're setting up a committee or something like that to look into it, erm??'
American bloke:'These markets need a-regulatin to stamp out this volatility and stop this evil which is a-spawnin from the n@dgers of Satan hisself yehah'

What an utter utter utter complete bunch of ars3

Lap it up wage slaves, lap it up.


Ooh, ooh ooh, now 'illegal insider trading' (is there any other kind?) 'hedge fund' blah blah blah. Can't wait for this one.

 

[new_trader]

Don’t you understand? The world is a much better place now that Osama Bin Laden is dead.

 

[nunrgguy]

Don’t you understand? The world is a much better place now that Osama Bin Laden is dead.

Is he?
When did he die? Recently or 10 years ago?
How do you know?
Because the news told you so?

If there's one BIG story on there that's utter drivel what credence does that give to the rest of it?

 

[dmt257]

I cannot watch financial reporting by our pathetic media. Always the same old BS.

Some things that grind on me and which I hear all the time....

'Will the rise in prices of commodities lead to inflation?'.Prices rise because of inflation. But, these people think rising prices is inflation. Even if that was the case then the original question still makes no sense. What could $100 get you now compared to 100 years ago? Answer, virtually nothing. What could 1oz of Gold get you now compared to 100 years ago? Answer, virtually the same. Its called devaluation and the reason all fiat currencies go to zero eventually.

'There is no point in the BOE raising interest rates because they cannot reduce the price of commodities' Sure, as they are priced in $, the cost in $ won't change, but we have the £ don't we. Raise interest rates and watch our currency soar and hey presto its all cheaper. In fact Im pretty sure oil was recently at a record high for us Brits even when it was well below the record $150 mark.

'A weak pound will give a boost to exports and reduce the trade defecit' Absolutely wrong. Manufacturers in this country nowadays mostly just assemble imported components. Also, history tells us that a strong currency reduces trade defecits not a weak one. These muppets laud a weak currency when all it means is a diminished standard of living for all citizens of that country. Paying more for stuff is great isn't it?

 

[JRP2891]

Don’t you understand? The world is a much better place now that Osama Bin Laden is dead.

Possibly the worse thing that could've happened for the US...now they'll keep Obama.

 

[dmt257]

Polls are showing a 9-22% increase in approval ratings for Obama. But lets face it, the difference between Republicans and Democrats or even LibLabCon is very little. They are all tax and spend, freedom hating socialists.

 

[enragedcow]

best line from our reserve bank on the news was;

"inflation's high but CORE inflation is on target" core inflation, being, of course a statistician working his magic and hiding facts.

this was mentioned on another thread, the news does a segment about how many points the NZX moved (and also their own index - showing what seems to be a random sampling of companies) but they never tell you how many points the housing market moved which leads people to conclude the equity market is more volitile.

TV news is lame for finance, and for many other things, it's all (to use the term of one of my lecturers) WRONGonomics to get people to watch it (AKA POPULAnomics)

i like Obama, not my president but if he goes any further in making a free trade agreement with NZ i be happy as a happy thing... LET US IN YOUR BEEF/DAIRY MARKETS ...RAWR

 

[brettus]

'Will the rise in prices of commodities lead to inflation?'.Prices rise because of inflation. But, these people think rising prices is inflation. Even if that was the case then the original question still makes no sense. What could $100 get you now compared to 100 years ago? Answer, virtually nothing. What could 1oz of Gold get you now compared to 100 years ago? Answer, virtually the same. Its called devaluation and the reason all fiat currencies go to zero eventually.

Prices rise because of inflation? I don't get this...I'm one of those guys who think rising prices causes inflation. I thought that was the definition. What causes prices to rise has nothing to do with inflation.

 

[new_trader]

Prices rise because of inflation? I don't get this...I'm one of those guys who think rising prices causes inflation. I thought that was the definition. What causes prices to rise has nothing to do with inflation.

Inflation is an expansion of the money supply, the consequence is rising prices.

 

[new_trader]

'There is no point in the BOE raising interest rates because they cannot reduce the price of commodities' Sure, as they are priced in $, the cost in $ won't change, but we have the £ don't we. Raise interest rates and watch our currency soar and hey presto its all cheaper. In fact Im pretty sure oil was recently at a record high for us Brits even when it was well below the record $150 mark.

The reason this annoys me more than anything is because the BOE has an inflation target of 2%. Why have a target at all if:

1) There are factors which are out of their control as they keep saying
2) They continually undershoot and overshoot the target. Just make it 0%.

Deflation is not a 'threat' but politicians try to convince us of this lie in order to confiscate our wealth.

 

[Black Swan]

It's the surface knowledge that kills me, the "it's the deficit innit" crowd who've bought into "call me Dave and the austerity measures" group think without any substance or depth to underpin their views. *They* believe the "Nu labour left us this mess" rhetoric hook line and sinker after it being rammed down their throats at every opportunity by a compliant meeja.

A stunning woman, who I worked with many moons ago, said something which has stuck with me after all these years; "You may as well watch John Craven's newsround to get your prolefeed Pathe newsreel, it's less sophisticated in its message and brain washing. Patronising news is identical in delivery for 'grown ups' as it is for kids, so I'll tune into the silliest version.."

 

[new_trader]

Every now and again you need a good dose of Gerald Celente.

http://www.youtube.com/user/geraldcelente

 

[kimo'sabby]

Generally I don't watch the news but caught Channel 4 news tonight.

How DO they get away with feeding us all this utter utter tripe:
Inflation is up (no sh1t Sherlock).
Commodities prices are all rising (petrol up 45% in 12 months). Erm, yeah...what about the previous massive DROP which didn't get passed on at the pumps??

But they're calling this the usual b0llox of a word 'volatility', which to gen public means 'it's not going the way I'd like it to'. What do they call it when a market tanks and wipes away Joe Shmoe's life savings because he bought because 'it was going up'? 'Volatility'.

'It costs me £15 a week more to go to work than it did last year' says A Woman, 47. NOTHING to do with devalution of the dollar, the Fed playing games and bombs going off in Libya. Oh no no no!

Who's/what's to blame? Is it the collapse of western economies due to general all round greed and lax credit controls? Nope
Is it governments? Nope
Is it the banks that control the governments? Nope
Is it corporations? Nope
Is it QE2, 3, 4 5 6? Nope
Is it Penry, the mild mannered janitor? Nope

So what is it then?
Evil speculators, that's what it is. We need a lynchin'. Start the witch hunt now.
Regulate regulate regulate they all shout like a bunch of retarded Dalek's.

Mervyn King: 'We're setting up a committee or something like that to look into it, erm??'
American bloke:'These markets need a-regulatin to stamp out this volatility and stop this evil which is a-spawnin from the n@dgers of Satan hisself yehah'

What an utter utter utter complete bunch of ars3

Lap it up wage slaves, lap it up.


Ooh, ooh ooh, now 'illegal insider trading' (is there any other kind?) 'hedge fund' blah blah blah. Can't wait for this one.

Seen it. Nescafe, no better way to start the day...except when coffee prices are going through the roof..."for no apparent reason"

Obviously channel 4 news have never heard the expression, "the markets can stay irrational longer than channel 4 news can stay solvent".

 

[new_trader]

Seen it. Nescafe, no better way to start the day...except when coffee prices are going through the roof..."for no apparent reason"

Obviously channel 4 news have never heard the expression, "the markets can stay irrational longer than channel 4 news can stay solvent".

"The market can stay irrational longer than you can stay solvent"

The oft-quoted 'whizzdom' of the lunatic Keynesian economist John Maynard Keynes. How about this instead - "The markets can stay rational longer than irrational Keynesian politicians can keep their country solvent".

 

[shadowninja]

Commodities prices are all rising (petrol up 45% in 12 months). Erm, yeah...what about the previous massive DROP which didn't get passed on at the pumps??

Didn't know you can trade petrol futures. I know you can trade oil futures.

 

[Black Swan]

"The market can stay irrational longer than you can stay solvent"

The lunatic Keynesian economist John Maynard Keynes..

Really, how so..?

 

[bbmac]

Don’t you understand? The world is a much better place now that Osama Bin Laden is dead.

Only the americans can make the simultaneous contradictory argument, seemingly without embarressment at it's stupidity that The world is a much safer place without Bin Laden - But- we must expect reprisal attacks. Lol

 

[dmt257]

I remember turning on the news reports of Bin Laden's killing and seeing a bunch of air-heads outside of the Whitehouse shouting 'USA! USA!'.

The feeling of embarassment I felt (as an Englishman) for all Americans was palpable.

 

[Black Swan]

The power of nightmares. Interesting that Obama has gone from hopey-changey rhetoric to war against terror as his re-election campaign begins, and just look at his approval ratings over the past two weeks, way to go Barry..way to go..

The power of nightmares was a brilliant series..iirc part 3 covered the shadow in the cave.

http://video.google.com/videoplay?docid=2081592330319789254#



http://www.google.co.uk/#sclient=ps...aq=0&aqi=g5&aql=&oq=&pbx=1&fp=2b2363fffcc0d23

 

[dmt257]

Give the guy a break will ya?

How else do you expect a Noble Peace Prize winner to act? You expect him not to send more troops to Iraq and Afghanistan? You expect him not to launch military action against Libya? You expect him not to launch hundreds of drone attacks on Pakistan?

I guess we are just unreasonable people.