Comments on: Mirable Dictu! The Wall Street Journal Discovers Global Imbalances!

By: dryfly

dryfly — Tue, 24 Jun 2008 22:47:00 +0000

S said...

agree with danny. WSJ is a rag

Even fish heads cry when forced to read the WSJ.

By: Jon

Jon — Tue, 24 Jun 2008 17:42:00 +0000

Bush Administration rule of governing #1:
A problem that cannot be fixed with a tax cut is a problem not worth solving.

By: wprestong

wprestong — Tue, 24 Jun 2008 13:54:00 +0000

Excellent posting! I read the WSJ every day from 1987 to around 2002 but also started with the Economist and the FT in the late 90s. It was the Economist and the FT that gave me good enough information that I could salvage some gains from the tech bubble. The WSJ has an image of economic sophistication that is so, so wrong. I was used to the right-wing drivel on the editorial page but what got me to drop my subscription was that the financial information in the WSJ is bad.

By: S

Tue, 24 Jun 2008 13:52:00 +0000

agree with danny. WSJ is a rag

By: foesskewered

foesskewered — Tue, 24 Jun 2008 12:36:00 +0000

Maybe they just thought that ignoring the problem would make it disappear , not acknowledging it makes it go away,guess why the alarm over the growth of forex reserves in various emerging markets nation but not what the other half of the equation entails?

By: Danny

Danny — Tue, 24 Jun 2008 11:32:00 +0000

I canceled my WSJ scrip last year and pretty much only read the FT from here on out. Much better.

Yves, thanks for reading the journal so I don’t have to.

By: etc

etc — Tue, 24 Jun 2008 09:14:00 +0000

WSJ: “President Bush’s administration has long argued that foreigners park their money in the U.S. because of the attractive returns here.”

The WSJ has advocated this position periodically for almost 2 decades. The WSJ ignored central bank fund flows into treasury and agency securities because that is inconsistent with their party line. And might stir the natives to retaliate against foreign central banks for currency manipulation with tariffs and other countermeasures that Adam Smith recommended when dealing with brazen protectionists.

By: Anonymous

Anonymous — Tue, 24 Jun 2008 09:01:00 +0000

That's what happens when you have to rely on official government numbers to concoct news stories. You lag.

Just about the time IRS rebates were discussed might have given a clue that something was terribly wrong.

Bloggers lag less and are more believable if not months ahead in giving notification of future events.