Financial News Rhetorical Bullshit
3 Responses | Leave a Comment »
These are some great examples of the utter rhetorical bullshit in financial news reporting from today. And this is just one day in one Canadian paper. I shudder to think about how they’re speaking on American televised financial news. Are we feeling EXCITED?!!
1.
http://www.financialpost.com/story.html?id=1402499
The first paragraph alone:
Financial markets did a dramatic 180-degree turn Wednesday, with stock markets erasing losses to surge higher, the U.S. dollar plunging, bond yields tumbling and gold soaring after the U.S. Federal Reserve announced it would crank its printing press into higher gear in an all-out effort to revive credit markets and thwart deflation.
2.
http://www.financialpost.com/story.html?id=1401818
I figured the last article covered all the word possibilities. Not quite:
North American equity markets roared back from early losses Wednesday after investors embraced the U.S. Federal Reserve’s latest actions to unclog credit markets and get the economy running smoothly again.
3.
http://www.financialpost.com/story.html?id=1401972
Look at this crap. The loonie went from 0.78-ish to 0.8-ish, and they say …
Loonie leaps to three-month high on Fed boost
When we get back to par with the U.S. dollar in one day, then you can say it fucking leapt. The article continues …
Canada’s dollar jumped to the highest in three weeks [wasn't it three months?? Not that these "records" have any meaning anyway ...] after the Federal Reserve said it will purchase US$300-billion of longer-term Treasuries, sparking concern the central bank is debasing the world’s reserve currency.
As I’ve said before, they want you to feel excited, greedy, fearful, or angry, and they do it for money and for the drama itself. It’s irresponsible and offensive. I’m getting old and cranky.
Leave a Comment »
Share
Entries (RSS)
jaehwan
11:47 pm | Mar 18, 2009D,
Today was huge. Rates on mortgages today through our bank plunged to an all time low. The rates dropped three eighths of a point from morning to noon. This is in an industry where an intraday rate rarely changes by more than an eighth. My phone was ringing like crazy.
This probably means nothing to most people, but for people in the industry who depend on the markets for our livelihood, today was huge. Those newspapers weren’t exaggerating. Not today, anyway.
Dialectic
3:32 am | Mar 19, 2009Your point about the mortgage interest rate is fair enough, but two of the articles don’t mention it at all, and the first just mentions it in passing. If they wanted to say that the mortgage rate dropped, maybe even “plummeted” to a record low not seen since 1945, I’d be fine with that, and indeed, the rhetorical flourish would be deserved.
But they used this crap for everything else! This kind of writing has no rational justification.
SamuraiJack
3:34 pm | Mar 25, 2009http://tradermike.net/2007/03/jim_cramer_market_manipulator/