IKN

Take physic, pomp

Aaaaahhh… BOHICA*

Are we having fun today, mineheads?

HUI down 5% this morning…oh yummy
Now here comes the strange thing; all I see all around the biznews outlets are the same headlined stories from Bloomie, AP and suchlike screaming about the World Bank dropping world GDP estimates from -1.7% to -2.9% in 2009.

“Stocks Fall on World Bank Forecast; Dollar, Yen Rise”, says Bloomie

“US stock market declines as World Bank reduces 2009 forecast for global economy”, says AP

But the World Bank announced this revision plenty time ago, as Yves Smith at Naked Capitalism correctly points out (before the G8 meeting, in fact). So what makes it move markets today, oh journalistic world? Smells veeery fishy to me.

*Bend Over Here It Comes Again

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.