Skip to main content

Terrorism, the media and the flight for the right (GOP/Conservative etc) A very short post

I hardly ever watch network TV, I don't think I've watched a political gabfest in more than 3, maybe even 5 years.  Its just that pundits the world over have an opinion, it will not change, and its why the are on TV, they're a sure thing for the bookers -- the "hooker" of the TV world -- you get what you pay for!

Anyway, at a loss, in an Ottawa hotel I saw this debate on the confluence of recent Canadian elections, the Liberals' (left of centre) victory and the impact of the Paris terrorist attacks.  Present were a conservative pundit, a token "good looking" muslim women and  a radio host -- my guess is that no smart liberal wanted to be on that show.  BTW I do realize that's probably the beginning of a joke:  So a conservative, a Muslim and a radio guy walk into a bar...  

Back to my story: the conservative pundit (hereafter know by her initial TK) who I vaguely know is asked a leading question:  If the Canadian elections were held the day after the Paris terrorist attacks would the conservative have won?  Now TK is very good at her job, although I think she could have been blindsided if a Liberal had been present.

Her glib answer was that "she knew that the liberals were praying for no terrorist attacks".  Now this statement is made for a very good reason -- so that TK will be asked to come again.  She's the Canadian (therefore not crazy) version of Anne Coulter -- a right wing firebrand always present in the media.  Had a reasonably smart Liberal been there he could have answered the following:

"TK the implication of that statement is that Steven Harper and his army of minions (Sound evil but in a harmless kind of way) were praying for there to be some form of terrorist act!"  

Since no Liberal was there (and this is an imaginary conversation in my head) TK's assertion was left hanging unchallenged by either the Muslim (who's apparently very very afraid of walking in Toronto) and a quiet radio guy.   For starts it is self evident that neither the Liberals or the Conservative were praying for anything but victory.  Their real prayers were for local and national bread and butter issues, and not the risk of a terrible terrorist attack in Paris.

But this kind of vacuous punditry is why I don't watch TV -- ever. BTW is it just me or are there more commercials then before, and are they dumber too?  Gosh I'm turning into a surly old man...

Comments

Popular posts from this blog

Trucker shortage? No a plan to allow driverless rigs

There are still articles on how America is running out of truckers -- and that its a huge problem, except its not a problem, if it was a problem salaries would rise to so that demand would clear. Trucking is one of those industry where the vast majority of participants are owner/operators and therefore free agents.

Salaries and cost are extremely well know, "industry" complains that there are not enough truckers, yet wages continue to fall... Therefore there are still too many truckers around, for if there was a shortage of supply prices would rise, and they don't.

What there is though is something different; there is a push to allow automatic rigs to "operate across the US", so to encourage the various authorities to allow self driving rigs you talk shortage and hope that politicians decided that "Well if people don't want to work, lets get robots to do the work" or words to that effect.

This has nothing to do with shortage of drivers, but every…

Every punter says oil prices are on the rise: Oil hits $48/bbl -- lowest since September 2016

What the hell?

How could this be, punters, advisors, investment bankers all agreed commodity prices  in general and oil prices in particular are on the rise...its a brave new era for producers and exporters -- finally the world is back and demand is going through the roof, except not so much!

What happened?  Well energy is complicated, the world operates in a balance -- 30 days of physical reserves is about all we've got (seriously) this is a just in time business.  So the long term trend always gets hit by short term variations.

Global production over the past 12 months has risen by somewhat less than 1.5% per annum.  As the world market changes production becomes less energy intensive (maybe), but the reality is that the world is growing more slowly -- America Q4 GDP growth was around 1.9% (annualized) Europe is going nowhere fast (the GDP growth in Germany is overshadowed by the lack of growth in France, Italy, Spain (lets say 27 Euro members generated a total GDP growth of 1.2…

Paying for research

This morning I was reading that CLSA -- since 2013 proudly owned by CITIC -- was shutting down its American equity research department -- 90 people will be affected!

Now the value of a lot of research is limited, that is not to say that all research is bad. In fact, I remember that GS's Asia Aerospace research was considered the bible for the sector.  Granted, there was little you could do with the research since the "buy" was for Chinese airlines...that were state owned.  Still it was a vey valuable tool in understanding the local dynamics.  It seems that the US has introduced new legislation that forces brokers to "sell" their research services!  Figures of $10,000 an hour have been mentioned...

Now, research can be sold many times; if GS has 5000/6000 clients they may sell the same research 300x or 400x (I exaggerate) but this is the key -- Those who buy the research are, I presume, prohibited from giving it away or selling it, at the same time the same rese…