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It seems like the media has been trying to will a crash in global markets to happen with the amount they've been going on about this. How biased are their opin

It seems like the media has been trying to will a crash in global markets to happen with the amount they've been going on about this. How biased are their opinions and what do more neutral experts say about the direction the global economy is heading? Honest question as I am not an expert.

seanmcdirmid 11y ago
They are reporting facts, really it is as simple as that. People are moving money out of China (I'm one of them), confidence in the economy is not good even if the government says everything is completely spiffy. Bloomberg doesn't have to make anything up to talk about how people are moving money out of China, they just need to follow the money. And if the money is flowing one way, it is completely reasonable to speculate on "why" that is so, and I think it is obvious (confidence is low, better investment opportunities exist abroad then what can be done with the money at home).
- shostack 11y ago
  Thanks for the clear and logical explanation. I find it hard to trust the news in this day and age so always interested in other opinions on the biases of the publisher itself.
  - AnimalMuppet 11y ago
    Bloomberg tends to be pretty good on this kind of story. If they say the money is moving, they are almost certainly right. If they say how much is moving, they are probably somewhere in the neighborhood. If they say how it's moving, it's probably moving in at least those ways. If they say why it's moving, their guess is as good as anybody else's, and maybe better.
  - seanmcdirmid 11y ago
    If you really want bias with out facts, try reading Chinadaily: http://www.chinadaily.com.cn/china/2015cpcplenarysession/2015-11/04/content_22363174.htm http://www.chinadaily.com.cn/china/2015cpcplenarysession/201... They just flat out tell you "China will keep to a growth rate of 6.5% no matter what". All is well because...they promise.
  - jonesb6 11y ago
    I feel the same cynicism. But then I remember cynicism !== intelligence. I'm trying to actively cut down on my news, while keeping a few channels open (HN/geopolitics/basketball..), in order to become less of a cynic..
    - seanmcdirmid 11y ago
      When your future economic well being depends on reading tea leaves, you better be reading tea leaves (pay attention to the news). You can't just put your head in the sand.
    - jazzyk 11y ago
      When it comes to protecting your money, cynicism is a good thing...
      - jonesb6 11y ago
        Generally I would agree, but what if your cynicism limits you from taking that one high risk opportunity that could make a serious impact on your financial future? I mean we're all start up junkies here (for the most part) would that not be considered a high risk activity that would be avoided by any serious cynic? I would also make the argument that the majority of the population (myself included) would not benefit from participating in economic activities requiring cynicism. I think financial literacy for most people is a 'learn it yourself' affair that most people choose not to do, and therefore they should avoid the financial world like the plague. Be as naive as you want in the cushy world of low risk, low yield, investments. Happier lifestyle I'd wager.
        seanmcdirmid 11y ago
        Are the tables rigged or not? Going in as an optimist into a scam will surely be a bad thing. Living in China, I've learned to appreciate fair financial systems. Many investments I wouldn't have considered in the states before now look like really good deals, simply because they are much more "fair" than what is available to me in China. China has no low risk/low yield investments beyond long term savings accounts that don't even beat inflation. That is why so much money was rushing into the stock market, and now again, real estate. Because literally there isn't anything else (ok, maybe some undergound banking deals, but do you want to deal with the mafia?).

seanmcdirmid 11y ago

They are reporting facts, really it is as simple as that. People are moving money out of China (I'm one of them), confidence in the economy is not good even if the government says everything is completely spiffy. Bloomberg doesn't have to make anything up to talk about how people are moving money out of China, they just need to follow the money. And if the money is flowing one way, it is completely reasonable to speculate on "why" that is so, and I think it is obvious (confidence is low, better investment opportunities exist abroad then what can be done with the money at home).

shostack 11y ago
Thanks for the clear and logical explanation. I find it hard to trust the news in this day and age so always interested in other opinions on the biases of the publisher itself.
- AnimalMuppet 11y ago
  Bloomberg tends to be pretty good on this kind of story. If they say the money is moving, they are almost certainly right. If they say how much is moving, they are probably somewhere in the neighborhood. If they say how it's moving, it's probably moving in at least those ways. If they say why it's moving, their guess is as good as anybody else's, and maybe better.
- seanmcdirmid 11y ago
  If you really want bias with out facts, try reading Chinadaily: http://www.chinadaily.com.cn/china/2015cpcplenarysession/2015-11/04/content_22363174.htm http://www.chinadaily.com.cn/china/2015cpcplenarysession/201... They just flat out tell you "China will keep to a growth rate of 6.5% no matter what". All is well because...they promise.
- jonesb6 11y ago
  I feel the same cynicism. But then I remember cynicism !== intelligence. I'm trying to actively cut down on my news, while keeping a few channels open (HN/geopolitics/basketball..), in order to become less of a cynic..
  - seanmcdirmid 11y ago
    When your future economic well being depends on reading tea leaves, you better be reading tea leaves (pay attention to the news). You can't just put your head in the sand.
  - jazzyk 11y ago
    When it comes to protecting your money, cynicism is a good thing...
    - jonesb6 11y ago
      Generally I would agree, but what if your cynicism limits you from taking that one high risk opportunity that could make a serious impact on your financial future? I mean we're all start up junkies here (for the most part) would that not be considered a high risk activity that would be avoided by any serious cynic? I would also make the argument that the majority of the population (myself included) would not benefit from participating in economic activities requiring cynicism. I think financial literacy for most people is a 'learn it yourself' affair that most people choose not to do, and therefore they should avoid the financial world like the plague. Be as naive as you want in the cushy world of low risk, low yield, investments. Happier lifestyle I'd wager.
      - seanmcdirmid 11y ago
        Are the tables rigged or not? Going in as an optimist into a scam will surely be a bad thing. Living in China, I've learned to appreciate fair financial systems. Many investments I wouldn't have considered in the states before now look like really good deals, simply because they are much more "fair" than what is available to me in China. China has no low risk/low yield investments beyond long term savings accounts that don't even beat inflation. That is why so much money was rushing into the stock market, and now again, real estate. Because literally there isn't anything else (ok, maybe some undergound banking deals, but do you want to deal with the mafia?).