Stephen Bernard, AP Business Writer: Propaganda

Stephen Bernard, AP Business Writer, writes today:

“NEW YORK (AP) — Stocks tumbled Thursday after two disappointing economic reports renewed investors’ concerns about the pace of a recovery. The Dow Jones industrial average fell about 165 points in afternoon trading. Broader indexes also fell by more than 1.5 percent. Interest rates also fell sharply as investors flocked to the safety of Treasury bonds. The Labor Department said claims for unemployment benefits rose unexpectedly last week and the Federal Reserve of Philadelphia said manufacturing activity in the mid-Atlantic region has dropped during August.”

Sounds like a simple report from the AP, right? Nonsense. Think about the two words bolded.

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16 thoughts on “Stephen Bernard, AP Business Writer: Propaganda

  1. This article clearly isn’t propaganda – it’s a straightforward factual piece!

    Do you feel that the Associated Press have a political agenda? And if so, what is it?

    Jeff

  2. ‘Recovery’ by what definition? Defined by who? ‘Unexpectedly’? Compared to what? Defined by who? Of course words like that used like that are an agenda. Factual? Do you have any critical thinking ability? Being a devil’s advocate with no critical thinking doesn’t serve you well.

  3. Michael-

    Re: ‘Recovery’ – Crucially, the article talked about ‘the pace of a recovery’, not ‘the pace of the recovery’. Therefore, the author was not implying that there is a recovery in progress. He was merely saying that the news raised concerns on Wall St about whether the economy was on the road to recovery. And judging by the tumble in equities when the news was announced, it’s hard to argue against that.

    Re: ‘Unexpectedly’ – The extent of the rise in unemployment was unexpected. The forecasted figure was 478K, whereas the actual figure was 500K (source: http://www.forexfactory.com/calendar.php). And according to the Dow Jones Newswires:

    ‘Economists surveyed by Dow Jones Newswires had predicted filings would decline by 4,000 [compared to the actual rise of 12,000].

    The rise in claims is particularly troubling because analysts have been expecting an improvement for some time. They said recent data were likely distorted by seasonal adjustment factors tied to factory shutdowns by carmakers and the hiring and firing of temporary workers for the 2010 Census.’

    As for whether I’m a devil’s advocate or capable of critical thinking, I’m not going there. It’s straying into ad hominem territory… 🙂

    Jeff

  4. Not ad hominem at all. I don’t think you have the ability to critically think. You will believe whatever you are told to believe. Seen enough posts to draw that conclusion. Perhaps posting inane statements on my blog is fun for you. I don’t know.

    Let me blunt: posting the same dribble after every post and not arguing in a way that moves anything forward/or convinces anyone else of anything — is boring. It eventually becomes pollution.

  5. Michael

    Irrelevant comments about my abilities, rather than about the issues under discussion, do fall under the banner of ad hominem.

    But as I’ve already said, I’m not going to discuss my analytical abilities here. If you want to believe I have an unquestioning mind (despite the fact that I’ve regularly questioned things you’ve written), then I’m not going to lose any sleep over it.

    As for my statements being inane, I don’t think I’ve really gone out on a limb with anything I’ve written here, and expressed any wildly unconventional arguments. But whether a view is inane is a matter of perspective. For example, I get the impression that you consider it inane to question the relevance to today’s political, social and economic situation of books written in the 1950s. I consider it inane not to…

    Jeff

  6. I forgot all about that. You refused to read or lend credibility to Human Action, Atlas Shrugged, etc. because they were not written yesterday. One of the most idiotic contentions ever. Time to move on.

  7. I do agree that “the recovery” would have been worse than “a recovery”, but the fact is that just about everybody in the establishment is talking about a recovery in one way or another, and it’s all crap. Nobody knows anything. The only thing useful about the news is what it tells you about what other people believe (which is not really trad-able of course). It tells you nothing about the truth (or more importantly, what to buy, how much, how do you know when you’re wrong, when to sell, etc).

  8. News = Noise. Especially day to day financial reporting of this variety. I’m so glad Bernard is so clued into what “investors” are doing…he must make gazillions trading this information. 🙂

  9. Imagine how much better your trading would be if you did not get your “news” from TV, radio, the internet or newspaper. Other than to give you price information, that is.

  10. If one goes with the flow…there is no “Unexpectedly” to much of anything. It is what it is. The fact it relied on forecasts shows the fault with all of it anyway…

  11. Nicely put, Mike W.

    When one relies on forecasts the senses do not see. A forecast is a kind of faith in the unseen.

  12. Propaganda? What Propaganda! You are getting very sleepy…

    If you read ‘recovery’ you will abandon your fears and spend all your money to get the economy’s money velocity up. Don’t worry you’ll get more in return later!

    If you read ‘no recovery’ you get scared and buy treasury bonds so the government can spend for you. Don’t worry they will spend it wisely!

    now cluck like a chicken!

  13. Stephen Bernard is a proud member of JournoList, so of COURSE it’s propaganda. These people are just shills, stenographers really, for the Obama regime and the Marxist movement.

    Out of 400 of these so called “journalists” almost 100 of them have ties to the communist movement and George Soros.

    The AP is a highly biased outfit. You should never believe a word written by one of their people. Nothing.

    If these so-called “journalists” had done their job we wouldn’t be stuck with the loser we have in the White House, or his Congress.

  14. The job description for the News Business used to be “Reporter.”
    My Dad used to ask me “…do you believe everything you read?” Trained me up in critical thinking, from ~age 9.
    Couple recent (2009) items for Mr. Waters: “This Time It’s Different,” Reinhart & Rogoff: Where Keynes Went Wrong,” Lewis.
    Re. Predictions: “While America Aged,” Lowenstein, 2008.
    He might notice the footnotes go back a few centuries…

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