Barron’s used our Truthiness post from last week for their Market Watch section:
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"Truthiness" Instead of Truth
Big Picture by Fusion IQMarch 24: Whether overstating job creation [or growth, or] understating inflation, a shocking amount of debate about the economic expansion has been primarily spin….[as] a parade of sycophants, despite knowing better, continued to cheer-lead punk data….First, they denied what was happening; then we got the whole "contained" thingie; then they blamed da Bears. Now they’ve unwittingly embraced Marx, and successfully pled for the central planners to rescue them from their own stupidity…Has "truthiness" replaced truth? [Will we] be saddled forever with these hallucinatory hacks?
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Source:
MARKET WATCH: A Sampling of Advisory Opinion
Edited by ANITA PELTONEN
Barron’s MONDAY, MARCH 31, 2008
http://online.barrons.com/article/SB120674492840373083.html
Can we please refrain from dragging Marx into this? How many people here, seriously, have read him?
Hallucinatory hacks?
Perhaps they are Dynamos of Distraction.
I think you have to at least credit Steve Colbert any time you use truthiness. It’s his word.
http://en.wikipedia.org/wiki/Truthiness
Although I admit that I invented the word, credit given to me. When the history books are read, the writers will get it right on just how amazing I was.
Paulson proposes overhaul—LOL!
Now that the horses are long gone, it is time to move the barn and slap on a new and different coat of paint—see we love our ponies!!! Now where are they again????
Posted by: Max | Mar 31, 2008 3:03:25 PM
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I have read Marx. Here’s my favorite quote:
“Outside of a dog, a book is a man’s best friend. Inside of a dog it’s too dark to read.”
Raises hand . . . yes I have read Marx, “The Communists Manifesto” plus multiple other writings.
It’s actually pretty scary to look at Marx’s 10 points and look at our society. We obviously don’t have all 10 points implemented in our society, however almost all of his points are implemented to some degree.
*waves at steven* (real or not, who cares?) — love ya!
And to Berry, congrats yet again. The paragraph was succinct, blunt and salted with just the right level of pop references to make the sting come out impersonal and non-shrill.
Some of us had to read Marx first at school than in university, so don’t be so sure…
Sorry for repeating guys but it’s coming.
bandera roja is coming, millions of useless bureaucrats will oversee the financial industry. You will have to go through the endless red tape to get a credit card approval, forget about a anything else. And as usual it will hit the six pack Joe the hardest. Will cost arm and leg to buy a car or a house. You will have to prove your income to buy a TV set. It is not Orwell it is USSR 1984. Been there done that. S. America is looking better and better…
bandera roja
bandera roja
I’ve read Marx and even a little Engels.
Here are some links:
http://www.marxists.org/archive/marx/works/sw/index.htm
Lovely stuff in light of my current read, The Gulag Archipelago.
I much prefer the Austrian take on economics.
My favourite was Groucho.
Harpo had more insightful things to say than Karl
Is it just me or has Barron’s (other than Alan Abelson) been really, really, really trying in the past few months to put a bullish spin on any sliver of potential good news?
I mean, a week ago they did a cover story on a pool hustler who predicts Dow 20,000, and Santoli every week seems to be calling a bottom.
Seems like they are going after the Jim Cramer crowd.
The FED got us into the mess. And now the FED wants more GOD power with their central planning.
The FED appears to be favoring the rich bankers. With some bread crumbs for some. Savers get the shaft with low interest rates.
Looks like a bloodless coup for the investment bankers.
Believe it or not, some of the Cramer crowd read this blog. Not all of us are hunting for stock tips or are only drawn to investing due to his influence. My green collar job working with fuel cells might be pedestrian to many people here, but it is putting me in a position to have enough money to become an actual investor. I would like to glean a some knowledge from those gnostics that populate this site. Thanks for providing the education.
Please don’t ever use the term “green collar” again.
I think you are right about the recession starting in Q4 ’07. At that time a friend in the industry told me were functionally in a recession as the steel service centers were seeing a dramatic slowdown in October ’07 orders. Bill Zollars at YRCW was seeing the same thing in trucking and all the shipping stocks fell off a cliff at the same time. Would be interesting to look back at the predictive value of shippers/truckers declining volume or weights as a predictive tool for recessions.
I think you are right about the recession starting in Q4 ’07. At that time a friend in the industry told me were functionally in a recession as the steel service centers were seeing a dramatic slowdown in October ’07 orders. Bill Zollars at YRCW was seeing the same thing in trucking and all the shipping stocks fell off a cliff at the same time. Would be interesting to look back at the predictive value of shippers/truckers declining volume or weights as a predictive tool for recessions.
Colbert can have his “Truthiness”. I have invented my own word: “Douchiness”. Several posts here border on douchiness.
Chuck Ponzi