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Edited on Mon Jul-13-09 06:53 AM by CoffeeCat
I'm no stock-market expert--but I do pay attention and read a lot about the market and finances.
I have noticed that certain high-profile Web sites (such as thestreet.com) have become massive purveyors of bizarre manipulations and spin. Every day that the market is up or down (even just a little bit), thestreet.com is front and center with their definitive explanation for the movements.
It's like they don't want us to think--they just want to dish up a big trough of pseudo reality at which we will feed. They seem to want us full of baloney, so we'll be too slow to think for ourselves or wonder why we're being spoon fed a load of bunk.
Usually this "Why the market moved the way it did today!" is their headline story.
Call me crazy--but no one knows, day to day, exactly why the market moves--every damn point. And when the market moves up 25 or down 17----is it really necessary to publish the EXACT reason that it moved that way??? It's so very bizarre.
I've watched this happen since the stock market began tanking--and it's chronic and so over-the-top now. It is so obvious to me, that people are playing games and that precisely defining market movements is not just financial reporters putting a positive spin on things.
People only go to these outlandish, orchestrated lengths--when they are trying to hide what is really happening in the background.
As I said, I am not a stock-market expert--so I don't have the slightest idea what is going on behind the green curtain. It sounds like maybe you have some interesting ideas. I do know that daily, we are being fed so much scripted baloney about why the market is up or down--that it borders on the ridiculous.
Some days, they call it like it is. And yes, some days big news or a big event will move the market up or down. But day after day--to put a definitive cause on it--is pure bullroar.
My favorite lie? The day the market soared nearly 400 points (around Feb 09), and the propagandists claimed it was because people were excited that the banks were so healthy and profitable--and this great financial news pulled up the entire market. Excuse me, but who in the HELL thought the banks were healthy back then? They'd just rec'd massive bailouts, credit was still frozen and traumatized consumers and small businesses were hanging on by their fingernails. They sure as hell weren't dashing out to take out loans! And the money wasn't there to loan anyway...the banks were being overly cautious! But we're supposed to believe that suddenly these bailout banks had suddenly become profit machines that lifted the entire market 400 points?
Give me a frackin break...
Sorry to drone on and on. I used to be a PR person, and I know bullshit when I see it (I used to write some of it...sorry). So, I know when I'm being bamboozled... even if I don't always understand what's going on and why we're being fed nonsense.
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