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Dog bites man

March 20, 2009

Okay it was suspenseful for a while but now its getting lame.

Everytime the Dow closes a few points up for the day, the talking heads at CNBC, Bloomberg and CNN would scramble out breaking news and spend days replaying clips of that magical closing bell. Heaps of interviews will then follow to toss about about what the spike might mean and *gasp* do you think the recovery is already upon us, Mr. Interviewee? Never mind if everything plunges 20 points the next day like we’ve seen the previous week, and the week before that, and the week before that.

What I say won’t be welcome to the millions of eyes fixed on the Dow and Nasdaq because when you crave for a sign – any sign, you’ll say bye-bye to perspective. I mean geez, talk about grasping at straws. But how to hold off that avalanche of hype when my RSS reader wouldn’t stop belching out a dozen “Could the recession be over?” articles everytime the Dow closes up by one point before losing 20-30 points the next day. I hate it when I start having to weed out spin from my data.

Don’t get me wrong, I’m as hopeful as the next guy that this recession is over but I think I know enough to know that it ain’t over just because some guy in a suit says um yeah, y’know, the signs look promising. Everytime that happens, I feel like screaming, “Dudes, has it occured to you that some old lady could be yanking your chain? Look, she got up this morning and decided to use her dead husband’s money to buy a few lots of News Corp shares. It sparked a mini run and the herd is probably gonna lose its shirt this time tomorrow. Yawn. Is the news cycle so dry that you all have to call in the cavalry everytime Dow gains a point?”

Now observe this Coca Cola Happiness Factory ad where this dude puts in a coin in a vending machine and suddenly…

An entire Macy’s parade to roll out a bottle of coke? Waaaa… so gwa cheong, as we Cantonese would say.

And by the way, the critters in that ad gives me the creeps.

But maybe I shouldn’t be surprised. After all, where else could the headline “Dog Bites Man” make the evening news other than the networks?

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4 Comments leave one →
  1. LC Teh permalink
    March 20, 2009 5:56 pm

    It’s beginning to look like a dream in which you’re clawing uphill making some progress only to notice the peak of the hill seems to be getting further away each time you look up… Is it growing higher or are we going backwards to the bottom?

    Its hard enough when its your eyes are playing tricks on you but on the Street, its the paid pundits that tries to wag the dog. Might they be going on a bet that if you say it often enough, then it must be true?

  2. March 20, 2009 7:24 pm

    People need hope. And those syndicates and fund managers need hopeful people to throw their money in and burn themselves.

    That’s how they sort of control the ups and downs of the economy. 😛 If everyone is feeling negative, nobody would want to throw their money in 😛

    If sentiment trumps fundamentals, then I guess one can always try to talk the market up. Know what’ll be fun? Create a shell company with a nice website, pay a couple of network pundits to say good things about it and I’ll be rich! (if that’s how the market works) :mrgreen:

    Back to reality. Yes, saying negative things during a confidence crisis will probably make things worse but is sugar coating the answer if what lies underneath is toxic. Rotting fish will not smell like roses no matter how many times people say so.

  3. LC Teh permalink
    March 21, 2009 3:17 pm

    Wife asked me about the economic situation: ‘Where did all the money go?’ I found it easier to explain with this Monkey Story.

    Haha, yeah that story’s a classic. It reminds of some hustlers I met in Hong Kong not too long ago… 🙂

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