As gauged by talking points memos the news media …
Say something enough and … well, you get the idea.
MG signing off (happy new year, happy new year, happy new year, happy new year, happy new year, happy new year, happy new year …)
As gauged by talking points memos the news media …
Say something enough and … well, you get the idea.
MG signing off (happy new year, happy new year, happy new year, happy new year, happy new year, happy new year, happy new year …)
Depending on your political persuasion, you may laugh, cry, tout it, or feign ignorance. But if you are a stakeholder in any of the “news” outlets portrayed in this Jon Stewart masterpiece, you might want to start thinking about a new model.
Because the one you’re rolling with now isn’t particularly impressive.
The Jan ’09 contract hit a high of $148.35 on July 11th. Just quoted at $48.60, it’s making new lows everyday.
Over the summer the media was SCREAMING about high gas prices, and auto dealers were flooded with oversized trade-ins at rock bottom prices. Oil executives were marched into Congress at gunpoint to explain.
Call it an oil bubble, or the Yaris-Mini-Smart-Rio-Fit-Elantra-Aveo-Versa-SX4-Astra bubble. Either way, the media is now decidedly mum.
The Pending Home Sales Index is down 12.3%. According the the NAR’s statement about the PHSI, that is a negative for the next two months. While their press release emphasizes the 5.3% monthly gain in June, we have demonstrated in the past why that amount to little more than the usual seasonality, as families who are moving try to get into the new homes before the new school year starts.
Most people only read the headlines. If you point out the error, you’re labeled a “Negative Nellie” – but it’s the perfect sign that you are facing someone who lacks even a modicum of intelligence – the attacker is refusing to process any logic because they have reached the crescendo of denial.
While these NAR jokers having been calling bottoms in perpetuity, real estate brokers are likely so distressed about the situation that even they aren’t going to get pissed off about it anymore.
UPDATE: Follow up by Ritholtz…the media was either completely duped, or they’re all about to get foreclosed on so they’re collaborating with the NAR to dupe someone else.
Spam, phishing and other internet security issues are increasingly being pounded by the mainstream press. Unfortunately for the press, these issues have been around for some time, meaning there are people outside their tight little circle who actually should be doing the talking (Spamroll excluded of course, and there is nothing remotely worth reading over here).
Nonetheless, I think the press should start thinking a bit more before they blab….
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