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Phoenix Capital Research on Zero Hedge: Looking Like You KNow What You’re Talking About Doesn’t Mean That You Do

01 Apr

We ran across this piece today while reading up on the reports that Wal-Mart’s head of operations is calling for serious price inflation in the US starting as early as June and a few other charming bits ot news we are not seeing covered anywhere in the lamestream media and we thought we’d post it here because it is so true, so telling and, in its way, so humorous.

Our favorite part is the bit about no lamestream media ever telling the truth about the bogus numbers put out by every part of the federal government and FED – all of it is so bad as to be laughable and yet no one mentions this.  (Read Shadow Stats if you want the real numbers, folks)

Looks like they offer a free report int he full version of the article over at ZH, – so follow the link if you want to learn more.

Market fundamentals. Yeah. Right. Ha Ha Ha.

Looking Like You Know What You’re Talking About Doesn’t Mean That You Do

Submitted by Phoenix Capital Research on 03/31/2011 21:44 -0400

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    Enough is enough.

     

    The mainstream financial media always tries to offer fundamental reasons for why stocks do what they do. If stocks rally it’s because on good earnings or improved consumer confidence or some other development.

     

    On the surface, this approach is valid: the markets are meant to react to economic and financial developments. However, the problems with the mainstream media’s attempts to explain the market’s actions today are:

     

    1)   These people are journalists, NOT investors or businesspeople.

    2)   None of them know what they’re talking about.

    3)   The markets haven’t moved based on fundamentals since 2008

    4)   Most if not ALL of the data coming out of the US is massaged at best or fraudulent at worst.

     

    Let’s start of with the first two points. The people on the mainstream financial media channels talking about investing aren’t investors themselves. They’re not entrepreneurs or businesspeople either. As such they have little if any actual experience in the markets other than as observers (on the outside I might add).

     

    However, this doesn’t mean that they’re not very good at acting knowledgeable or convincing on camera. And this is where things become confusing for viewers. Oftentimes the people speaking on camera is so good at looking confident and knowledgeable that you are tempted to believe what they say.

     

    However, if you listen closely to what they’re actually saying, it’s clear they do not actually understand what they’re talking about. Yes, they have the right vocabulary and have some basic grasp of the terms and relationships they’re describing, but that’s as far as it goes.

     

    Case in point, when was the last time ANYONE reporting for a mainstream financial media outlet pointed out that the US’s GDP, employment, and inflation numbers are an absolute crock?

     

    Name one time a talking head addressed the fact that the Federal Reserve is chaired by a guy who has absolutely NO understanding of finance or economics. Or that he’s committed perjury, fraud, and outright theft.

     

    I could go on for another 12 pages, but you get the general idea. These people are nothing more than front-people for large corporations that make their revenue from advertising dollars (usually from the financial sector). Their salaries and income are directly related to how much money Wall Street wants to spend on advertising. That, and their viewership, which is directly related to how high the market is (and the US Government’s bailout of their bankrupt parent companies… which of course results in them being objective in their reporting).

     

    Read the full article here

     

     

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