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Beware of Financial “Pornography”

Whenever I am at a social function, the conversation inevitably turns to what each of the conversants does for work, and of course, as you know it, when they find out what I do, I will often get asked about some pressing economic issue. More often than not, the questioner saw something on one of the major networks, major financial publications, or such and is simply rehashing some lame argument that was spouted on those channels.

What I would like to do is show you 2 reasons why you should turn off your TV or simply be careful from whom you take your financial advice. First example is Peter Schiff, outspoken President of Europacific Capital and candidate for the Senate in Connecticut. He tries to explain to his interviewers and other guests why there were significant problems in the US economy in 2006 and 2007 – listen to the response of everyone else on the show:

Example number 2 is more recent. John Williams, publisher of Shadowstats.com relayed in his recent newsletter how he was asked by TV producers to tone down any negative thoughts he had (pressure from the corp bigwigs). Read more here:

Zero Hedge

Bottom line, be careful what you believe in – and certainly don’t plan your life around “advice” that may be mere propaganda.

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