What Other Bloggers are Saying

Frank at CondorOptions pokes fun at the folks whose daily comments explain why the market moves higher or lower on a given day.

"The point is that we traders are engaged in a constant battle to filter
out media noise. The only way to successfully make a living in the
markets is to make our decisions based on probability and what the
market actually does (as opposed to the media’s and the analysts’
supposed explanations for why it’s doing it)."

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Preet from WhereDoesAllMyMoneyGo writes: 

"A new economic stimulus program in the United States was unveiled earlier today which has been called the “Cash For Clunkers
program. It is designed to give up to $4500 to consumers who trade in
gas guzzling cars towards purchasing a fuel efficient car."

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MoneyNing, referring to the fact that Bernie Madoff's wife was allowed to keep her expensive home, opines:

"Unfair or not, the immediate family of the person who is directly
involved in the fraud should be stripped of all financial assets. It
might violate human rights, but that’s how it should work."

It would certainly make everyone else feel better.

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The banking nonsense in our country is enough to make everyone angry, regardless of how they believe the problem should be addressed.  Finding humor in this mess is a good thing.  Budgets Are $exy did just that with a list of "Ten Signs The Economy Is Really That Bad."  It's worth your time.

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4 Responses to What Other Bloggers are Saying

  1. GMG 06/15/2009 at 9:21 AM #

    I agree with Frank. Filtering out talking heads who insist on trying to distill the daily financial activity of our entire planet down to one, or rarely two, “causes” is possibly my least favorite part of the whole game. I’m not sure what’s sadder though: that so much mis-information is spread each day, or that the heads actually believe their own hype and feel like they’re somehow doing the world a service?

  2. Mark Wolfinger 06/15/2009 at 9:51 AM #

    My guess is the talking heads are at smart enough to know they are making it up as they go along. But, it’s obvous that some believe their own hype.

  3. GMG 06/15/2009 at 10:15 AM #

    I think you give them too much credit. 🙂 IMO, journalism should be re-classified from a profession to a paid hobby.

  4. Mark Wolfinger 06/15/2009 at 10:55 AM #

    You are equating the New York Times with bloggers? Wow. Have we really sunk that far?
    One thing about journalists is that when they write ‘fact’ rather than opinion, they do (or are supposed to) verify. But those talking heads don’t seem to care what they say. No one calls them on the stuff they said in the past, so they feel free to spew at will.