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Monday, September 13, 2010

Bias from a Finance website



(photo caption:  Baaa~ We love stocks   Baaaa~)

As I mentioned in a previous posting, all corporate controlled financial media are essentially cheerleaders for the stock market.  And because of a vested interest in the Dow going up and wanting non-violent sociopathic investors to tune in to get information from them how to invest,  the media tends to fib, fudge truth and distort reality-  ok, ok.. often they are outright liars.

 Amongst the worst of them is Yahoo Finance and its sister website, Business Insider.  I mention both not to plug them but because they are so egregiously bad when it comes to their biased stories, arrogant know-it-all coverage of the markets, and insipid headlines to entice investors to read their lies.

A good example is from today's Tech Ticker section of Yahoo Finance:

 "Investors are Too Negative.. And that is Good for the Market"

Let's really delve into this..  First, the fact that investors are concerned about the economic climate and volatility of the stock market, to Yahoo Financial, is thus cause for criticism.  Now, what is seen by them as a 'bad' is spun as a 'good'.. as if to say, ' you don't want to be like Them.. like those Negative Neds over there.. there's never a Better time to invest'..   A financial news site has taken the role of a pitchman or salesperson.  

To financial sites like the above mentioned, Wall Street Journal and others, we are in recovery.  And if you don't believe it, they're more than happy to keep saying recovery repeatedly and loudly until you all succumb.  Of course they will say modifiers like 'jobless recovery' which is like saying a person is half pregnant,  or its an incremental recovery,  much like if you have a fever of 102.5 and the thermometer then shows 102.4, you are 'recovering'.   The financial media NEED you to believe in recovery because that's how they survive.. people buying their newspapers, pamphlets, or watching on TV to appease their advertisers.  If people don't believe there's recovery, they will do terrible things.. like tighten their financial belts or not invest.

I close this blog post with some headlines from today's Business Insider to emphasize my point"

"Stocks Stage Another MONSTER Rally: Here's What You Need To Know"
     ~ for the record, Dow went up 81pts today.. not really "Monster" is it

"Microsoft Just Showed Why The Market Can't Tank With Rates This Low"

"Get This: We're Actually Gaining Jobs At A Faster Rate Than The Last Two Recessions"
    ~  true unemployment incl those given up is 17.4%

"10 Big Stories Investors Must Follow Through The Rest Of The Year"

"OMG: You Can Get Yield Of 2.83% On A 10-Year Bond Right Now"

"LearnVest: Here's How We Got $4 Million In Funding In 4 Weeks"



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