Wednesday, July 29, 2009

Media Lies and Hyperbole – When is Enough, Enough?

Here’s a snapshot of the number one headline on Bloomberg today:

Here’s the opening of their “article”:
July 29 (Bloomberg) -- Orders for U.S. durable goods, excluding automobiles and aircraft, unexpectedly rose in June, signaling manufacturing may expand in the second half of the year.

Excluding transportation equipment, demand for goods meant to last several years climbed 1.1 percent, the most in four months, the Commerce Department said today in Washington. Total orders fell 2.5 percent, the first decrease in three months.

So, EXCLUDING one of our largest segments it was slightly positive on a month to month basis, but OVERALL it was TWICE as NEGATIVE as the positive which they reported!

Oh, and on a year over year basis the PLUNGE ACCELERATED to a NEGATIVE 26.8% IS ALL! YET, look at that headline!!!


I can’t even view the television any more – any of it! CNBC is worse than worthless. The evening “entertainment” is nothing but complete drivel brought to you by never ending corporate interruption.

Jim Rogers - "Getting your investment advise from the Government or from T.V., you're bound to go bankrupt!"

But it’s not just the business media that’s gone completely over to mindless corporate drivel. It’s almost every program on all 10,000+ channels! Newspapers are dead. Television, as far as I’m concerned, is dying and will follow newsprint into the abyss.

Bloomberg, who used to be a source that I considered to be better than the rest is falling prey to corporate interests and is shooting itself in the foot by running stories and headlines like the one above. Can’t handle the truth? You will go the way of the dinosaur.

Oh, and here’s the truth – Durable Goods Orders were DOWN 26.8% year over year. Here’s the chart, does that look like the end of a recession?

Jefferson Airplane – Volunteers: