Tag Archives: news

Real news or fake news? Give me the fake news

In case it wasn’t already obvious, I don’t hold the news media in high regard:

Why the News Is Still Mostly Pointless

The Financial Media: It’s Still Useless

Right now the left is losing their collective minds over so-called ‘fake news’, blaming it (along with fraud and racism) for Hillary losing and demanding that Facebook and Google do something to stop it.

The reality is, as the links above show, almost all news sucks and is pointless.

The left elevates ‘the news’ as somehow being an incorruptible, unimpeachable institution that answers to a higher calling in the pursuit of the truth, when in reality the news media is just another for-profit venture, like selling shoes or running a casino. Without advertising, the news media would have no reason to exist. The purpose of ‘news’ is to fill the spaces between the ads, but the only difference between ‘real’ news and ‘fake’ news is that the former supposedly has more ‘integrity’, but even that is suspect…remember, ‘real’ news gave the world rape hoaxes, ‘rape culture’, and an imaginary ‘college rape epidemic’. ‘Real’ news said that the US economy and stock market would implode if Trump won (stocks are now at 52-week highs two weeks after Trump’s win), or, between 2009-2015, that there would be ‘dollar collapse’, hyperinflation’, ‘stock market crisis’ and ‘recession’, none of which have happened. Or the WMDs in Iraq, that apparently didn’t exist but the New York Times said they did. One can argue that real news, through spreading lies and sensationalism wrapped in a veneer of ‘credibility’ and ‘respectability’, is far more destructive than fake news can ever be.

Also, fake news is fun, whimsical…real news is depressing (terrorism, death, murder, etc.)…fake news may be an escape for some people from the drudgery and monotony of day-to-day life. There is also a social element to it: conservatives may share fake news on Facebook, not because they always believe it, but to ‘signal’ a political position to their followers, in much the same ways liberals share Onion articles to their friends.

Third, the ‘left’ doesn’t hold their own fabulists and satirists to the same standards that they hold the ‘right’. How is fake news different than Colbert or The Onion, yet not a peep of outrage by the left over those. So really, it’s about censorship of websites and views that threaten the left’s pursuit of political power and media dominance, than promoting ‘journalistic integrity’.

A retort is that The Onion is an obvious satire and fake news is not…or is it? Nowhere on theonion.com is the word ‘satire’ or ‘fake’ mentioned. I guess the left, in a usual display of insularity and lack of awareness, just assumes ‘everyone’ knows what The Onion is, and that anyone who could possibly misconstrue it as ‘real’ is an idiot, but those ‘fake’ news sites, on the other hand, are apparently so convincing that they threaten the institution of democracy and something must be done about these sites, urgently.

How the Liberal Media is Always Wrong

We’re all dreaming the same dream that someone or something will break the monotony, and maybe that’s why Trump, who is perceived as a renegade in a world of ‘politics as usual’, is so popular. He’s like the Right’s version of Obama, bearing ‘change’, although more competent than Obama.

You’re not missing out on anything if you ignore the news. Ask yourself, are you any better off for having read the news? Unless you make a living a news junkie, like this guy does, has following the news had any meaningful effect on your life? Does you caring about the news in any capacity change the outcome of it? I’m pretty sure for most people the answer to all these questions is ‘no’.

One reason why I’m a ‘news nihilist’ is because so much of it is crap.

Instead of sensationalist news, I prefer to subscribe to rationalism and realism.

Here are some examples of how the media misleads, or is just flat-out wrong:

‘China’s economy slowing down’ Been reading this headline since 2005, yet China’s market is near record highs, up 100% YOY. A 1% decline in China’s GDP from 8% to 7%, according to the doom and gloom media, is a full-blown crisis. In reality, it’s a blip, noise that can be ignored. Meanwhile, Brazil actually did fall into recession, but hardly a peep from the media.

‘Holiday shopping anticipated to be weak’ Every year, before Black Friday, the liberal media repeats this line, and every year they are wrong, but that doesn’t stop them from forever predicting the demise of the US consumer. They will be right eventually…we may not be alive to bear witness to it, but it’s coming…eventually.

‘Housing is a bubble’ Yet prices were up 25-40% in 2013 in many regions, 10-20% in 2014, and up again in 2015. Just another example of the media being wrong all the time.

‘Web 2.0 bubble, tech bubble, stocks are too high’ Same as above. Door dash, a food delivery start-up, is worth over a billion dollars. There are dozens of success like this, with stronger fundamentals compared to the first internet boom, as much as the left wishes it were 2000 and pets.com all over again. I read an article yesterday about how stocks could go lower and I just laughed it off. If you use Google’s search by date feature, you will find hundreds of failed predictions of web 2.0, housing, and stock bubbles.

‘Hyperinflation, dollar collapse, blah blah…’ Also wrong. I hate to be the bearer of good news, but the world is not coming to an end.

From Jame Altucher, How to be a Human, this is funny and true (bold added for empahsis):

I know this because they want the world to end. They keep blaming their problems on how bad the world is. How the world is falling apart. How we “borrowed too much” or how “the United States is going to fail” or how “Europe is going to take us down” or how “China is going to take over the world”. It’s an easy excuse so they don’t have to blame themselves on their own failures. They can blame me instead because I don’t think “China is going to take over the world”.

The left blames ‘greedy’ rich people, Wall St., the fed, the government, institutional racism, conspiracy theories, employers, college – everyone but themselves for failing. It’s easier to blame an external target than to do self reflection, ‘Maybe my IQ is not high enough to succeed…Maybe my work ethic sucks…Maybe I should have held my stocks in 2008 instead of selling…Maybe I majored in a useless subject in college…Maybe I should have read the fine print before taking out the student or home loan…etc.’

These people who either have bad genes or made bad life decisions seek crisis so that the ‘game’ of life is reshuffled and cards redealt in the hope of getting a better hand. Or they seek crisis to ‘punish’ their imagined oppressors.

In the article, James also writes:

– Their fathers or mothers didn’t love them.
– Other kids beat on them
– Girls (or guys) didn’t like them or called them names.
– Their friends backstabbed them.

That part I don’t agree with. People hold erroneous beliefs due to media influence, peer pressure, rationalization, and other factors. It don’t think it has necessarily to do with trauma or a bad childhood. A century ago, many thought the world was flat; they weren’t mentally ill or traumatized, just wrong.

‘US economic growth anticipated to be slow’ Isn’t it always? The stock market up some 200% percent since the recession ended. America is never going back to ‘fast growth’, nor does it need to.

According to the doom and gloom liberal media, wasn’t the fallout from Fukushima supposed to turn us all into mutant zombies?

Or what about Swine Flu and Ebola, both which were hyped as the next Black Death.

OWS…that failed miserably, much to the disappointment of the liberal media.

Remember the debt ceiling, S&P debt downgrade, and sequester (which the democrats caused), all overhyped by the liberal media, and all duds. There were headlines in 2013 – by Paul Krugman and others – that the budget cuts would cause a recession and bear market. Nope. The economy and stock market brushed it off, as I and others predicted it would.

This was in mid-2013. As of October 2015, payrolls have claimed to 142,654. A big goose egg for Krugman and the rest of the left.

Or the 2011 European debt crisis, the Greece crisis, and the 2014 Hong Kong protests? All hyped by the liberal media, and all duds. 99% of of the time, what the left calls a ‘crisis’ is a just a speed bump. The liberal media predicted a global economic contagion from the European debt crisis – also wrong. By 2012 the US market had recovered its 2011 losses and by 2013 was at new highs. Europe’s growth remains very sluggish, just as it was before 2011, so it’s not like Austerity can be blamed. Very few S&P 500 companies reported any evidence of weakness due to Europe.

Or what about that rape epidemic on colleges – that turned out to be a hoax, but the media ran with it anyway?

Or about the alleged ‘war on blacks’ by police? In reality, the percentage of justifiable homicides on blacks by law enforcement has been declining for decades, but you’ll never know by listening to the media:

How about man-made global warming? Debunked:

Global climate changes have been far more intense (12 to 20 times as intense in some cases) than the global warming of the past century, and they took place in as little as 20–100 years. Global warming of the past century (0.8° C) is virtually insignificant when compared to the magnitude of at least 10 global climate changes in the past 15,000 years. None of these sudden global climate changes could possibly have been caused by human CO2 input to the atmosphere because they all took place long before anthropogenic CO2 emissions began. The cause of the ten earlier ‘natural’ climate changes was most likely the same as the cause of global warming from 1977 to 1998.

Global cooling is a possibility:

Now a decade later, the global climate has not warmed 1° F as forecast by the IPCC but has cooled slightly until 2007-08 when global temperatures turned sharply downward. In 2008, NASA satellite imagery (Figure 6) confirmed that the Pacific Ocean had switched from the warm mode it had been in since 1977 to its cool mode, similar to that of the 1945-1977 global cooling period. The shift strongly suggests that the next several decades will be cooler, not warmer as predicted by the IPCC.

Or the liberal media spreading doom and gloom over wealth inequality, as consumer spending keeps surging anyway. The left insists that if wealth inequality is too high that the US economy will suffer, yet countries with less inequality, such as Germany, Japan, United Kingdom, and France, for example, have lower GDP growth and overall weaker economic fundamentals.

The liberal media owes everyone an apology for spreading panic and for being wrong all the time, but it will never happen.

Understanding Comes Before Change

America, it’s economy, and the news cycle is still in auto-pilot mode since early 2014 or so, going nowhere at a 1000 miles an hour. Everyone in the media wants crisis and mayhem, for ratings and clicks and page views, but the few crisis that come (such as the France attack) are short-lived, leaving the media hardly satiated. We have the media rattling their sabers, trying scare people, yet stocks keep going up, with the S&P 500 up 2% this week rebuking the welfare liberals who wanted the economy to succumb to terrorism. If you look at the top of this site it says, ‘enlightenment through understanding’, which means that ‘enlightenment’ isn’t through getting mad, predicting crisis, or trying to change the world, but from merely understanding it and then acting accordingly. Just the ‘understanding’ part is hard for people, because so many have been brainwashed by both the mainstream and alternative media. The whole media complex is about getting people agitated and scared, for clicks and pageviews, or to quote Mike Stathis, the media is about creating the illusion of useful content so they can sell you advertising. I used to follow the news, now I don’t, except for a handful of sites. Most of it is just crap. My advice is to just go Reddit and read the comments, since that is where the truth usually is, anyway. Same for Britbart, which debunked the comments falsely attributed to Trump about an ID program for Muslims:

Trump does not say yes or no. Instead, he dodges the question, and comes back to the question of monitoring mosques (which the U.S. has done in the past): “We’re going to have to–we’re going to have to look at a lot of things very closely,” Trump said when presented with the idea. “We’re going to have to look at the mosques. We’re going to have to look very, very carefully.”

In a nation infested by college cry bullies, this is why the liberal media is losing credibility, when the truth is just a couple mouse clicks away.

But if the status quo sucks, shouldn’t we try to change it? First you understand it, but change is too hard. Acceptance is easier. The stock portfolio I manage is up 20% this year because I accepted based on the empirical evidence that there won’t be a crisis and that the market would keep going up, thus, due to my understanding, I ignored the clowns on Zerohedge, for example, who said to sell stocks and short bonds due to imagined hyperinflation that never came. While some parts of the status quo suck (feminists, liberals, etc), other parts are good: technology – clean running water, for example, which some countries don’t even have. Capitalism creates abundance, but it also brings change – structural unemployment and wealth inequality. It creates winners and losers, with the losers being the ‘takers’ or those who can’t keep up. That’s why cheap, abundant entertainment is important, to placate the masses. It sounds cynical that we have a nation of people ‘plugged in’ and not really contributing or creating, but that’s the point where’s we’re at now. Maybe the definition of ‘contributing’ is also changing, as the American Dream is redefined. In the past, ‘contributing’ maybe meant a 9-5 job, but now perhaps it’s watching Netflix or uploading pictures to Facebook – both of which create economic value for the aforementioned companies, even if to many such activities seem unproductive. Maybe ‘contributing’ is through a ‘gig job’ such as Uber or Taskrabbit…who knows. The world is changing, and, no, you can’t get off this ride.

For those of you who are in the knowledge economy who have high-IQs, you have the ability to become learning machines, to become successful and speed to catch new trends, and to see what other people don’t. If you’re smart, you can read a book or an article and get insight your friends cannot see. For example: a 17-year old starts an app company, Summly, which he sells to Yahoo for $40 million. Two twenty-somethings start Snapchat and are worth billions, on their way to being as rich as Bill Gates. Opportunities are seen with minds, not eyes. Leftist delusions serve no good in becoming successful. On a scale of 1-10, ’10′ means you are a genius and can read a book in a single day with full comprehension, and’1-3′ means you are slow, probably in the special ed class as a kid. Does not read books. ’4-6′ is average. If you are ‘>7′, you’re wealthy cognitively, with the potential to become successful. If you’re at least a ’9′, you probably have significant above average net-worth for your age and probably a high-IQ. Too many people have been brainwashed by liberalism and are delusional, thinking they are smart, victims of Dunning–Kruger. If I ask you IQ questions and you cannot answer most of them, you are probably a ’4-5′. Half the world is a ’5′. All that matters is winning in the end: it’s both a beautiful and shitty part of life. I read about the left blaming the recession for being failures at life, and I din’t want that to be me. I want you to not be delusional.