Mainstream Economists Just Don't Get It - Or Do!

Steve_A · 11-06-2009, 10:28 AM

Hi Everybody,

It seems that in the mainstream media, every time there is a fluctuation on Wall Street, 'experts' give their take as to the reasons behind it. It seems they really don't have a clue if we look at the last two weeks.

A week or so ago there was a report that the jobs figures in the US had dropped, and that was the reason why the DOW Jones Industrial Index rose, these mainstream pop economists claiming that the companies were streamlining to keep profits up. One could argue that in this case, if the jobs figures would get better the inverse would be true.

This week the jobs figures were less crappy and the DOW rose again, being spurred on said by some economic 'experts' by the fact that people were being employed again proving that the recession is over.

This sort of rhetoric has been going on for some time, not just over the last few weeks. Even on Bloomberg some smart alex suggested that the DOW futures was pointing upwards because the price of oil came down, only for the same website later on to say that the days' trading ended in negativity (by quite a bit if I recall correctly) for exactly the same reason - the reduction in the price of oil.

I think the real insiders of Wall Street know the real reason behind the ups and downs of the stock exchange and are playing the rest, just giving them excuses for the moves. For those who saw the now famous interview ( http://www.thedailyshow.com/full-epi...009-jim-cramer ) between Jon Stewart and Jim Kramer would know what I'm trying to get at.

There is absolutelyno reason why the DOW should have risen nearly 300 points over the last few days, not even the fact that GM crapped on Opel from a great height recently.

Of course, I'm no expert, nor am I an 'expert', it's just a simple case of watching from the sidelines and using common sense.

Best regards,

Steve

lucrum · 11-09-2009, 12:28 PM

Can't do anything else than agree with you on this one Steve.

It's the same mess over here and it makes no sense. We get told recession is over, people get jobs and everything is fine and dandy. On the same page, you see how an airliner must cut expenses and see the need to lay off dozens of people.

Further down, you see that big companies see the need to cut the christmas parties this year, cause they have no money for it. You see that more and more people will lose their company car, and benefits that include free dental care, free gym memberships and other typical benefits.

Conflicting stories all over the board...with the reader having to sort it all out for him/herself, to make any sense of it at all.

I'm tired of being considered dumb, just because I ain't got a degree. It's disrespectful to the public when they assume we are all dumba*ses that don't get what's going on.
It might be true for some, but definitly not everyone.

happyhollergal · 11-10-2009, 06:20 AM

Maybe it's just more confirmation for those of us who know that the media corrupts absolutely, and that most of the reporters reporting aren't even aware that they're lying. If you listen to Gerald Celente or Lyndon LaRouche, you get a pretty good idea of what's going on in the real world of economics. Ron Paul has helped open the eyes of lots of people in language that the average person can understand, by acknowledging the hard times people are experiencing and telling them how things came to get this ugly. I'm not sure if the voters will be sucked in next November by some new smooth talking Senate and Congressional hopefuls hollering about change, but I have a good idea that things are going to get a lot tougher in the next year, and that may be a good thing if it means holding those accountable who we place in positions of responsibility over our lives, where future generations will be affected. I keep hoping to turn on the news one day to see all of the corrupt people worldwide arrested, put out of business permanently and sent to toil in Siberia for the rest of their lives. At least I haven't lost my ability to dream big.

Northern Boy · 11-19-2009, 04:39 AM

maybe this is the stimulus money inaction propping up the market trying to lure investors in the dollar is sinking and the Dow goes up seems like opposite ends of the spectrum

Ross H · 11-19-2009, 07:00 AM

This one of my favorites I read a week ago in the paper

"the jobless recovery"

11-06-2009, 10:28 AM	#1
Steve_A Project Avalon Moderator Join Date: Sep 2008 Location: Northeastern Brazil Posts: 1,259	Mainstream Economists Just Don't Get It - Or Do! Hi Everybody, It seems that in the mainstream media, every time there is a fluctuation on Wall Street, 'experts' give their take as to the reasons behind it. It seems they really don't have a clue if we look at the last two weeks. A week or so ago there was a report that the jobs figures in the US had dropped, and that was the reason why the DOW Jones Industrial Index rose, these mainstream pop economists claiming that the companies were streamlining to keep profits up. One could argue that in this case, if the jobs figures would get better the inverse would be true. This week the jobs figures were less crappy and the DOW rose again, being spurred on said by some economic 'experts' by the fact that people were being employed again proving that the recession is over. This sort of rhetoric has been going on for some time, not just over the last few weeks. Even on Bloomberg some smart alex suggested that the DOW futures was pointing upwards because the price of oil came down, only for the same website later on to say that the days' trading ended in negativity (by quite a bit if I recall correctly) for exactly the same reason - the reduction in the price of oil. I think the real insiders of Wall Street know the real reason behind the ups and downs of the stock exchange and are playing the rest, just giving them excuses for the moves. For those who saw the now famous interview ( http://www.thedailyshow.com/full-epi...009-jim-cramer ) between Jon Stewart and Jim Kramer would know what I'm trying to get at. There is absolutelyno reason why the DOW should have risen nearly 300 points over the last few days, not even the fact that GM crapped on Opel from a great height recently. Of course, I'm no expert, nor am I an 'expert', it's just a simple case of watching from the sidelines and using common sense. Best regards, Steve

11-09-2009, 12:28 PM	#2
lucrum Avalon Senior Member Join Date: Sep 2008 Location: Norway Posts: 209	Re: Mainstream Economists Just Don't Get It - Or Do! Can't do anything else than agree with you on this one Steve. It's the same mess over here and it makes no sense. We get told recession is over, people get jobs and everything is fine and dandy. On the same page, you see how an airliner must cut expenses and see the need to lay off dozens of people. Further down, you see that big companies see the need to cut the christmas parties this year, cause they have no money for it. You see that more and more people will lose their company car, and benefits that include free dental care, free gym memberships and other typical benefits. Conflicting stories all over the board...with the reader having to sort it all out for him/herself, to make any sense of it at all. I'm tired of being considered dumb, just because I ain't got a degree. It's disrespectful to the public when they assume we are all dumba*ses that don't get what's going on. It might be true for some, but definitly not everyone.

11-10-2009, 06:20 AM	#3
happyhollergal Avalon Senior Member Join Date: Sep 2009 Location: Rutherfordton, NC Posts: 181	Re: Mainstream Economists Just Don't Get It - Or Do! Maybe it's just more confirmation for those of us who know that the media corrupts absolutely, and that most of the reporters reporting aren't even aware that they're lying. If you listen to Gerald Celente or Lyndon LaRouche, you get a pretty good idea of what's going on in the real world of economics. Ron Paul has helped open the eyes of lots of people in language that the average person can understand, by acknowledging the hard times people are experiencing and telling them how things came to get this ugly. I'm not sure if the voters will be sucked in next November by some new smooth talking Senate and Congressional hopefuls hollering about change, but I have a good idea that things are going to get a lot tougher in the next year, and that may be a good thing if it means holding those accountable who we place in positions of responsibility over our lives, where future generations will be affected. I keep hoping to turn on the news one day to see all of the corrupt people worldwide arrested, put out of business permanently and sent to toil in Siberia for the rest of their lives. At least I haven't lost my ability to dream big.

11-19-2009, 04:39 AM	#4
Northern Boy Avalon Senior Member Join Date: Oct 2008 Location: On this Rock Posts: 1,390	Re: Mainstream Economists Just Don't Get It - Or Do! maybe this is the stimulus money inaction propping up the market trying to lure investors in the dollar is sinking and the Dow goes up seems like opposite ends of the spectrum

11-19-2009, 07:00 AM	#5
Ross H Project Avalon Moderator Join Date: May 2009 Location: Queensland Australia Posts: 507	Re: Mainstream Economists Just Don't Get It - Or Do! This one of my favorites I read a week ago in the paper "the jobless recovery"