Today’s Journal

Business News & Financial News – The Wall Street Journal –

The stock markets have still considerable gains for the year and are at or near multi-year highs, but the cheerleaders at the WSJ must be nervous. Check out these headlines from the Saturday Online Edition:

Signs Grow that Housing Has Hit Bottom

Weak Report Lifts Chance of Fed Action

Heard: Setting Fed to Work

Economists: Odds of QE3

Greece to Quicken Sales of State Firms

Italy Approves Spending Cuts

The headlines are bullshit and do not belie the facts exposed, or sometimes hidden, in the articles below the click.

This is business strategy of Murdoch media empire. Basically, give the readers what they want. In the case of the WSJ, the readers are market participants, and all market participants want good news. Give it to them and keep readership high. A few years ago, the WSJ was truly an elite newspaper, but now it has been surpassed by the FT. Not that the FT has gotten better, the WSJ has just gotten worse


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