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Lies, Damned Lies, and Collaborators

by Gormack on July 27th, 2016

In the course of a day I sometimes catch the two-minute market news on Chicago’s radio superstation. I call it Happy Face/Frowny Face reporting: Markets Up/Markets Down.

The market guy, let’s call him “O”, is an experienced journalist; been around forever, started with farm commodities but now he is an expert on everything from genetically modified foods to ethanol to equities.

I shouldn’t pick on O, he’s no different than the hacks on CNBC, but I will. He’s been around markets long enough to know a lie when he sees one. He should at least raise an eyebrow at the barrage of spin, half-truths and falsehoods that spew from the financial news feeds. But he doesn’t.

Guess what O: Earnings suck; Terrorism is on the rise; Europe is breaking up; We have riots and murder in the streets; the Fed has destroyed Bonds as an asset class; Corporate defaults are exploding; Equities maintain crazy valuations only because Central Banks buy ETFs and stage midnight raids on the VIX.

Why are you complicit in this rosy bullshit day after day? Are you seriously telling those legions of gray haired listeners to go all in on Facebook and Amazon?

You are an experienced professional: you should be embarrassed, ashamed, and probably fired!

Wake up O! Do your job!!

From → Crime, History Speaks

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