I'd love to know if "the pink" has the same problem because I used to find the editorial very good. As a non-investor, left leaning voter, it interested me that I found much to agree with in "the financial times" while still finding much to disagree with in "the times" and "the daily telegraph" and "the spectator" -as if money was more neutrally stanced on left-vs-right.
The tricky thing about predictions made by public entity or persona is that, the fact that they are making public predictions creates a major influence on the outcome itself. People react to predictions made by them.
A major reason why the new Fed chair is refusing to provide forward guidance, in a major departure from all(?) previous Fed chairs and will likely require textbooks to be rewritten.
Yes, one can see it this way, therefore they don’t want to provide forward guidance. One can also see it another way that ‘their job’ is to purposely use forward guidance to impact direction. Not sure which is the right way.
Alan Greenspan (fed chair from 1987-2006) was famous for deliberately confusing forward guidance. Ben Bernanke and Janet Yellen are the historical anomalies for clearly communicating their intent.
> As Fed chairman, every time I expressed a view, I added or subtracted 10 basis points from the credit market. That was not helpful. But I nonetheless had to testify before Congress. On questions that were too market-sensitive to answer, 'no comment' was indeed an answer. And so you construct what we used to call Fed-speak. I would hypothetically think of a little plate in front of my eyes, which was the Washington Post, the following morning's headline, and I would catch myself in the middle of a sentence. Then, instead of just stopping, I would continue on resolving the sentence in some obscure way which made it incomprehensible. But nobody was quite sure I wasn't saying something profound when I wasn't. And that became the so-called Fed-speak which I became an expert on over the years. It's a self-protection mechanism ... when you're in an environment where people are shooting questions at you, and you've got to be very careful about the nuances of what you're going to say and what you don't say.
I don’t think The Economist has that kind of power. More likely that when they make covers like these every normie feels that way and it’s going the other way soon, as it has exhausted every buyer or seller and it has reached the ends of your earth and your Mom and Dad even feel that way.
The Economist is partly owned by the Rothschild dynasty and was chaired by Evelyn de Rothschild for 17 years, so I've always just assumed it is going to tell you whatever would favor the global elite banking class.
> Betteridge's law of headlines is an adage that states: "Any headline that ends in a question mark can be answered by the word no." It is based on the assumption that if the publishers were confident that the answer was yes, they would have presented it as an assertion; by presenting it as a question, they are not accountable for whether it is correct or not.
Which makes the headline quite clever in this case, since people will assume that means they aren't wrong, when in fact it means they aren't _always_ wrong.
After subscribing for 15 years or so, I noped out after their "walker" cover. The world has enough "both sides" journalism, and I had thought them somewhat immune from that.
Just because Fox News crowed about it doesn’t mean it’s bad journalism. Arguably toeing the party line is what resulted in Democrats being in that situation (fielding a weaker candidate against Trump) in the first place.
Wait, what? People were offended by that? It seemed an apt cover in light of the situation.
For those unaware, the economist ran this [1] image after Biden’s historically disastrous debate in ‘24 (as a result of Biden’s age based senility being on full display after months of party and media complicity).
I'd love to know if "the pink" has the same problem because I used to find the editorial very good. As a non-investor, left leaning voter, it interested me that I found much to agree with in "the financial times" while still finding much to disagree with in "the times" and "the daily telegraph" and "the spectator" -as if money was more neutrally stanced on left-vs-right.
Yes.
The pink is also wrong more often than not when they're talking about non-European issues.
When they talk about Europe they lie.
Subtle difference.
The tricky thing about predictions made by public entity or persona is that, the fact that they are making public predictions creates a major influence on the outcome itself. People react to predictions made by them.
[delayed]
A major reason why the new Fed chair is refusing to provide forward guidance, in a major departure from all(?) previous Fed chairs and will likely require textbooks to be rewritten.
Yes, one can see it this way, therefore they don’t want to provide forward guidance. One can also see it another way that ‘their job’ is to purposely use forward guidance to impact direction. Not sure which is the right way.
Alan Greenspan (fed chair from 1987-2006) was famous for deliberately confusing forward guidance. Ben Bernanke and Janet Yellen are the historical anomalies for clearly communicating their intent.
https://en.wikipedia.org/wiki/Fedspeak
Quote from Greenspan himself:
> As Fed chairman, every time I expressed a view, I added or subtracted 10 basis points from the credit market. That was not helpful. But I nonetheless had to testify before Congress. On questions that were too market-sensitive to answer, 'no comment' was indeed an answer. And so you construct what we used to call Fed-speak. I would hypothetically think of a little plate in front of my eyes, which was the Washington Post, the following morning's headline, and I would catch myself in the middle of a sentence. Then, instead of just stopping, I would continue on resolving the sentence in some obscure way which made it incomprehensible. But nobody was quite sure I wasn't saying something profound when I wasn't. And that became the so-called Fed-speak which I became an expert on over the years. It's a self-protection mechanism ... when you're in an environment where people are shooting questions at you, and you've got to be very careful about the nuances of what you're going to say and what you don't say.
Strange to eschew the only actual power they have. Interesting times.
I don’t think The Economist has that kind of power. More likely that when they make covers like these every normie feels that way and it’s going the other way soon, as it has exhausted every buyer or seller and it has reached the ends of your earth and your Mom and Dad even feel that way.
https://www.readtrung.com/p/the-economist-cover-curse-explai...
It does not by itself but it is often just siding with a narrative that lot of other media houses and political parties are supporting as well.
Sorry, but
...Normie?
What does that even mean in this context
Someone without a deeper understanding of markets who is just reacting superficially to news, headlines, mainstream information etc.
Repost of https://news.ycombinator.com/item?id=48791799 (with 63 comments)
Already asked and answered.
Yes.
They're wrong more often than random chance, yes.
Here is a mirror of the article without a paywall.
https://archive.is/FziAy
The Economist is partly owned by the Rothschild dynasty and was chaired by Evelyn de Rothschild for 17 years, so I've always just assumed it is going to tell you whatever would favor the global elite banking class.
> Betteridge's law of headlines is an adage that states: "Any headline that ends in a question mark can be answered by the word no." It is based on the assumption that if the publishers were confident that the answer was yes, they would have presented it as an assertion; by presenting it as a question, they are not accountable for whether it is correct or not.
https://en.wikipedia.org/wiki/Betteridge%27s_law_of_headline...
Which makes the headline quite clever in this case, since people will assume that means they aren't wrong, when in fact it means they aren't _always_ wrong.
I think the question was wrong. The problem is that the important things are wrong and the trivial things are right, which causes confusion.
We will never know as the article is behind a paywall:)
Wow. “We asked the wrong question and used the wrong tool to get a questionable answer, and then decided to publish it.” I guess the answer is yes?
there should be some law where publications have to track their brier scores
I’d be surprised if they knew what a brier score was
Yes, because they lie all the time.
Betteridge's law of headlines :)
Please don't put anything with the paywall here.
Sorry, who are you exactly to give people orders?
If please helps, happy to add it. In fact I added it.
When you see the title, you are excited to read, then you're hit with a paywall. Such a bummer.
"lalitium" -- it says so, right above the text.
After subscribing for 15 years or so, I noped out after their "walker" cover. The world has enough "both sides" journalism, and I had thought them somewhat immune from that.
What is “both sides” about that article?
yeah imagine thinking biden was too old and infirm
Just because Fox News crowed about it doesn’t mean it’s bad journalism. Arguably toeing the party line is what resulted in Democrats being in that situation (fielding a weaker candidate against Trump) in the first place.
Wait, what? People were offended by that? It seemed an apt cover in light of the situation.
For those unaware, the economist ran this [1] image after Biden’s historically disastrous debate in ‘24 (as a result of Biden’s age based senility being on full display after months of party and media complicity).
[1] https://www.economist.com/leaders/2024/07/04/why-biden-must-...
I missed that as my subscription ran out in 2017. Hilarious. Would have framed that cover.