Skip to main content

The Press to lose space at the White House. This could be a good thing!

For 40 years (since Kennedy) the press has been installed into the White House, an already very tight space for all those working there.  This access to the White House was not always there, and there were prior to that time many involved that new the system of preference.

This is seen by the Press in General and the MSM network as a disaster, but could it be an opportunity?  The fact is that in a day and age of instant communication -- and an elected president reluctant to have press briefings anyway (last week was the first in six months), Trump's idea is that only "invited" journalist would be welcomed into the White House -- the others would miss the scoop -- but these days the scoop less interesting.

The work done prior to the election by the Washington Post journalist in calling more than 3,000 charities to find out who had received money from the Trump Charity was a great piece of investigative journalism.  The work and the result -- actually forced Trump to shut down his charity because so little money had been given way (and almost none from Trump himself).

Not having to listen to the Press Secretary B.S. statement (something like:  Don't listen to what Trump said, think of what's in his heart) is a typical problem for the press.  Being outside of the control of the White House provides them with the opportunity to do real journalism (and not reporting on the BS that the White House wants).

In fact, the departure of the press from the WH is probably a bigger problem for the WH than for the press, because it was these briefing that enable the WH to "control" the news cycle.

A solution is for a 4k camera in the WH where the press secretary and his team give out the news and then can ignore inconvenient questions -- they can even mute microphones from journalist if they don't want to hear the real story.  The departure of the Press to different abode is certain to change the communication dynamic, but Twitter has already done that, its just a recognition of the hard facts of life, the world is changing

However, not being forced to listen to the BS of the White House (and if Trump wants to invite Breitbart and Fox news only he was going to do it anyway) provides the press with the opportunity to return to its business of reporting and investigating the news... a breath of fresh air (maybe)


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…