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Must read article by ZeroHedge which succinctly states why they have enjoyed such success and why the “financial media” are now playing catch-up.

When discussing financial matters, the “financial media” represented by “Establishment” type reporters and bloggers, just like the financial “regulators”, is woefully behind the curve.

Watching pretty faces like Brian Williams, Anderson Cooper and Charlie Gibson fade into oblivion is a delight; the fewer adults watching these powerpoint presentations of repetitive Democrat vs. Republican nonsense, sound-bite reporting and oversimplifications, the better.

Jaywalking is a good representation of the effects of 12+ years of schooling and “news” on our culture.

Takeaway:  Your mind is the most powerful “muscle” in your body.  Keep it in shape by reading and conversing with those you disagree with and those that challenge your existing views.  Watching 22.5 minutes of political gossip and sponsor-approved stories will rot your brain.

when discussing financial matters, the “financial media” represented by “Establishment” type reporters and bloggers, just like the financial “regulators”, is woefully behind the curve.

It should boggle everyone’s mind how easily bloggers are able to catch obvious fraud in the financial markets while the SEC and other regulatory bodies are looking the other way.

Here are some gems just from the last week alone:

  1. Perot Systems FrontRunning – ZeroHedge.
  2. Blatant reinflation of housing bubble – Denninger.
  3. Corruption at HUD – Karl Denninger.

The SEC was not able to catch a ponzi scheme even after Harry Markopolos delivered it to them on a silver platter. 

Paulson and Bernanke have been incredibly incorrect on their assessment of the health of the US economy.

Choose your sources of information/facts/news very carefully.  Stick with those that are honest enough to state their opinions openly and publish their predictions.

Read what you disagree with before drawing your conclusions.

There is a difference between loyalty and blind loyalty.  Blind loyalty to anything (religion, government, ideology, spouse) is deadly.

Takeaway:  Perpetual reliance on someone else’s seal of approval will rot your brain.  Complacency kills.

I have wanted to set up a “professional” looking blog for over two years and I have decided to just go ahead and get started without all the fancy setup. I have dutifully written down all of my important (and unimportant) thoughts in folders, Word files, and post-it notes and I am eager to share them with others who might reflect upon my them and benefit from them.

This blog, for now, will not be of much value to the passing observer other than functioning as a depot for my thoughts about everything from economics, politics, relationships and humor.

With some practice, I will hopefully present more meaningful posts which will help others avoid mistakes I have made.

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