Friday, March 27, 2009

The Media Lied? I'm Shocked!

posted by The Vidiot @ 8:55 AM Permalink

Well, they either lied or it was some really shoddy reporting. Remember that news story a few days ago, the one that said "Home sales rose in February." Well, funny thing:
No, New Home Sales data did not improve. In fact, they were not only not positive, they were actually horrific. The year over year number was a terrible down 41%. Sales from this same period a year ago have nearly been halved.

Why did the media report this as positive? If you only read the headline number, you saw a positive datapoint: February was plus 4.7% over January.

To get the the facts, you need to read below the headline. In the present case, it wasn’t the seasonality factor that was confusing, it was the “90-percent confidence intervals” — or as it is more commonly known, the margin of error.
Why would they lie? Could it be that the market was seemingly doing better and if people were comfortable and thinking that the market was turning around AND the housing market was doing better that maybe it was time to go out and spend again?

See, these are the folks who didn't tell you the market was in trouble when it was. These are the same folks who didn't tell you housing values were declining until way after the fact. There is an agenda and the agenda is tell the people whatever is necessary to make them behave as good little consumers.

But are they conscious of the agenda? I don't know. I've spoken with reporters and for the most part, they're nice people and they don't seem nefarious in any way. I think they're just so ensconced in the system that they just work as a cog in the machine, never really realizing they are little more than cogs. The institution now controls the people who created it.

I know most of you who read the blogs already know to not trust the corporate owned media but sometimes the breadth of it is just shocking.

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