I remember back during the bad old days of evil empires, the US media would never fail to point out that Pravda was a propaganda mouthpiece for the Soviet government whenever they quoted material in news reports from that media outlet. Along those lines I’d be remiss if I did not point out that publishing government economic data uncritically or hosting self servicing shills and blowhards as Fox 8 did Thursday night is essentially the same folks.
Mr CLS on Yahoo All bumped up an old post titled The Fiduciary Principle: “No Man Can Serve Two Masters. Somewhere in that post title is why the media should never host a stock broker opining on the economy. It is also the reason the brokerage industry is fatally flawed IMHO as the stock salesman at your local Edward Jones office that masquerades as a financial expert is in reality incentivized to sell you investments that makes them the highest commission.
I cut my blogging teeth on subjects such as these in the many years I blogged on financial issues on Yahoo and such is also the reason you see me posting as Sop to this day on Slabbed as the Sop franchise has gravitas in certain high finance circles world wide and I wanted those folks to find this project called Slabbed. And I’m likely to point other media outlets peddling propaganda as news such as Fox 8’s did in their Thursday Night lead story in the coming days.
And a final ps to Analystwoman on Yahoo All. Glad to see you caught on ma’am. 😉