Monday 12 December 2016



The FT, a key read of  mine everyday for work, is nonetheless the most irritating paper to have to deal with, much like the Economist which is the only serious macro economics monthly, yet wrong about virtually everything, always.

Today the FT has led with the article below:

It leads with companies expecting a downturn in business because of Brexit. If only they had looked back to the same time last year:

Here they had conjured the same sort of answers, only then 70% of Companies thought Brexit would be terrible. This year, 2016, we are down to 54% thinking it will be bad. So a big net improvement in sentiment overall.

Also last year only 2% thought it would be good for their company, the general view was it would be very bad economically. This year, they could only find one company that was actually looking to move its HQ abroad in the FTSE350. To counter this we already have several large companies moving their HQ's to the UK, BE wrote about McDonald's here just this last Friday gone.

As ever, the press as a whole are going with the #becausebrexit we are all screwed approach for 2017. Of course, actual insight is hard to match to the preferred ideological position, but no matter, as ever. And yet the mainstream media complain about fake news....

I have no doubt there will be a market bump at Article 50 or in anticipation of it. However, much like this year, it will prove short lived and will be an opportunity for trading not to be missed.

2017 will have plenty of interesting events, Trump's takeover, elections across Europe, continuing strife in the middle east and the slowdown in China. Brexit, as this year, will be one of many interesting and impactful stories.

But one thing I am sure about, it will still be blamed for everything, along with the horrid people like me who wanted it.....


hovis said...

The FT and Econmist are just large Corporatist supportng rags - the uninitiated will defer to them because of a misplaced deference to their views as being established rather thn correct.

Surely the drivel you mention comes under the very fashionable (and scarily Orwellian) 'fake news' meme - but as establishment approved organs (in every sense of the word) they of course don't ever say anything wrong - it is reality that is incorrect.

Blue Eyes said...

Yes indeed CU.

The Beeb website had an article quoting the BCC forecast that 2017 could be bad growth-wise. It had all sorts of confusing stats set out, none of which could be compared with anything. A journalist with a different worldview to that of the BBC could just as well spun the same "facts" as the BCC upgrading its 2016 growth numbers.

When leading journals make so much effort to spin the information they claim to be distributing, is it any wonder people get jaded and cynical?

John in Cheshire said...

Once we've actually left the EU, I'm assuming that the EU will stop giving the bbc money to construct its propaganda and fake news. Does the FT, in fact do any MSM newspapers and magazines receive donations from the EU for the same purposes?

Unfortunately,for the interests of disseminating the Truth, the government has recently awarded the bbc another £350 million or so to be spent on its world fake news service. Why do I say the bbc produces and broadcasts fake news? Well, for one, that Honourable man Ron Paul issued a list of fake news creators and the bbc and guardian are on it. Secondly, given their disgusting involvement in the Jimmy Savile activities, it is beyond forgiveness that they would try to rubbish such reports as pertain to the US Pizzagate claims, without the slightest curiosity about the allegations.

Blue Eyes said...

BT and ASOS obviously collapsing under the weight of Brexit with new expansion plans announced today.

Anonymous said...

Slightly OT but only just.
The 'fake news' picture that made me laugh was the one of a smiling, coiffured, seemingly carefree Hilary Clinton hiking in the woods together with a young mother and baby she had 'bumped into.' Said picture captioned 'as Hilary getting away from it all after election defeat.'
This was a day or two after election night when she had refused to be seen in public and weeks afterward looked like a total wreck.
Appeared in many msm publications IIRC.

Electro-Kevin said...

Will Self sneered at the idea of McDonald's HQ coming here "Who wants to flip hamburgers ? What good are those jobs ?"

It's the HQ, Will, not a new branch in Surbiton.

He knows. He just can't stop himself lying when the news doesn't accord with his world view.