Financial idiocy

It’s all desperately important, as we know, but I can’t help but feel the idiocy of the nightly financial reporting at the moment. It’s all crisis, sure, but the reporting has become ridiculous.

We’ve gone from record rise to record fall in the space of a week, thus proving that financial types basically have no idea what they doing at all now. And the coverage has degenerated into football score-style coverage — no thought or analysis, just a “here’s your stock scores today”. But it’s been like that for years.

And in a story about Ford firing more staff in Victoria, the weasel-word of the week was definitely “rightsize”. As in, they’re not downsizing their staff numbers, they’re rightsizing. Which conveniently I guess means the final number can be whatever they feel like.

What a fun time this is…

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