the unexpected is so predictable

April14

right…

So, in March, Martin Crutsinger, an AP Economics Writer, declares that durable goods orders are unexpectedly “up” in February. Read the story here.

He then turns around in April, and declares that durable goods are unexpectedly “down” in March. And, you can read that here.

UPDATE 02/13/2011: The link is broken because that story has mysteriously disappeared. Our media REALLY SUCKS. So do you Crutsinger.

At what point (and, how) does one qualify to be an AP Economics Writer if they are always being surprised by, and with, economic data?

Or, do people like this Mr. Crutsinger answer to the mysterious “they” (that damn smoking rabbit again)?

Mr. Crutsinger, and parts of the media, just might be a big part of the problem with their irresponsible reporting that keeps unwitting citizens and investors off balance.

I wonder if Crutsinger and Jim Cramer hang-out? You can see why I ask this question by reading a prior post, and viewing a relevant video, here.

Peace be to my Brothers and Sisters.

Brian Patrick Cork

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Tags: AP, bullshit, Cramer, durable goods, Economy, Fear and Lothing, Illuminati, manipulation, Martin Crutsinger, Media

posted under Business, Finance, In The News, Video

3 Comments to

“the unexpected is so predictable”

April 14th, 2009 at 10:52 pm Aaron Says:
When I taught technical classes to adults years ago, one of my colleagues mentioned that an “expert” is someone who knows two things more than someone else. As horrible as that sounds, our standards for credible information and insight have truly sunk to such a level as that. Resultingly, this allows our so-called “economic experts” to issue statements that cause the “sheep” (the market) to go every which way. If only the sheep would take some time to really understand the fundamentals, and understand something as simple as cause and effect, I am fairly certain the economic stability we all so desire would be at our doorstep.

But then that wouldn’t make very good news, would it?

AM
April 15th, 2009 at 1:44 pm Brian Patrick Cork Says:
It’s hard to accept that these people are viewed as pundits. However, this issue is symptiomatic of our culture where we tend to believe that which is in writing must be true. And, to your point, the masses buy into the misinformation and fall prey to manipulation and bad information. The mass response floods the market with ill conceived action that takes on a life of it’s own. If only ~~purveyors of hype~~ people like Crustsinger and Cramer would use their power for good, we would all be so much better off.

Cork
April 22nd, 2009 at 2:49 pm information is Not always power « The Unsinkable brian cork Says:
[…] (I made that word up) on this Blog before. For a recent example, consider my fairly recent post: the unexpected is so predictable. We have sophomoric executive leadership making decisions that come across like shooting from the […]

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