Which is Which? What is What?

The following two headlines appeared on Wednesday February 22, on Bloomberg News, one below the other:Is anyone paying attention there at Bloomies? It is just like the daily ponderings on why the market is doing what it is doing:Market moves up on Greek Blah Blah Blah!Later in the day: Market moves down on Greek Blah Blah Blah!So-called financial experts around the world follow Bloomberg’s every hiccup, yet they never have any in-depth analysis about what is really going on. It’s just attention getting headlines.
Greek Debt Downgraded Because We Said We Might Consider Downgrading Greek DebtDow Jones Surges the Most in Two Days Before Falling BackStocks Close Lower after Economic ReportStocks Close Higher after Jobs ReportDuring the hours the New York Stock Exchange is open, there are so many headlines that contradict each other, it makes you wonder why you pay for this so called premium service. One thing is for sure: the talking heads at Bloomberg, the Wall Street Journal, Forbes, Business Week and all the other financial news services really don’t know any more than anyone else that follows Reuters, The Guardian, the Telegraph, Der Spiegel, and the assortment of Asian Business publications that routinely beat the US and Central European sources by a few hours, just simply because they have an advantage of several hours in the morning, as well as several hours to digest what happened in London and New York.As expats, we are pretty much at the mercy of those who manipulate currencies and commodities, like what is happening to oil at this very moment, yet we are completely powerless to do anything about it. There is no one to complain to. Of course you could always write to your congressman, (insert sound of boisterous laughter) maybe have a prayer session with your favorite clergy, a very iffy proposition, because you cannot petition the Lord with prayer for financial gain. (Some may disagree with me on that.)Here are a couple of other actual headlines from Ash Wednesday:Distressed Properties Help Boost Home SalesCooperman Says Investing in Treasuries ‘Makes no Sense’The Top Ten: Today’s Most Important StocksIn spite of the shiny forecast of those who would sell you gold, the yellow metal never did hit the speculative barrier predicted, $2000 per ounce by the end of the year, in fact it is sitting right about where it should be, somewhat below $1800. We have an almost daily humorous exchange in our editorial offices based on the perma-headline at KITCO.com, where this evening it boldly asks: “Did Gold Really Go Down $0.20?”On a much less humorous note, today, Wednesday February 22, 2012 was another demonstration of how Argentina’s, and in particular, Buenos Aires’ crumbling infrastructure led to another horrific disaster, when a train arriving at Once station failed to stop at the end of the line and crashed into a concrete barrier, creating such carnage that first responders had to be attended to for shock after witnessing the scene. 49 people were killed and at least 500 injured. When surveying that crumpled mess, one cannot help but be left speechless when realizing that the rolling stock looks like 1950’s commuter trains from the USA. The cars were packed with over 2000 commuters, on this, the first day back to work for porte?os after the four day carnaval holiday. Our sincere condolences go out to all those affected by this latest transportation massacre to hit Buenos Aires.I encourage you to write to me, jamie@expatdailynews.com with any questions or suggestions you may have. Disclaimer: I am not in any travel related business. My advice is based on my own experiences, and is free of charge. (Donations accepted). It is always my pleasure to act as a beneficial counselor to those who are seekers of the next adventure. You can also contact Jamie at jamie.douglas [at] yahoo.com
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