February 16th, 2008

Newsnight Reports Valentine’s Day Market Massacre(That Never Happened)

Newsnight just doesn’t do business reporting very well. Guido suspects this is because they are neither interested in, or sympathetic to business. They would much rather review some new feminist state-subsidised play than the FTSE 100′s profitability. The saga of the BBC’s flagship current affairs programme being repeatedly unable even to report the market closing price correctly has been pointed out by Guido before. Peter Barron told us after the last multi-day FTSE fiasco “I despair! We are having a complete revision of the way we collect and check the markets information.”

On Valentines Day Newsnight reported (above) another bad day in the markets, off 80 points or nearly one and half percent down. Time for a stiff whiskey nightcap before examining your stock portfolio in the morning?

No. It was down 0.8 points, some 0.0136%, which is what market experts call “flat”. Stephanie Flanders, Newsnight’s economics editor, said after the last time this happened that it was “unforgivable and embarrassing”. Clearly it was forgivable because it was announced yesterday that she has been promoted and will now be the BBC’s chief economics editor. Jeff Randall is on Sky…

Hat-tip : Musing Markets



Seen Elsewhere

Attacking UKIP’s Posters is Counter-Productive | Guardian
Sarkozy Tried it on With Hollande’s Ex | Times
Another Spare Room Subsidy Cut Success | Harry Phibbs
Rich Now Have Less Leisure Than Poor | Economist
UKIP’s Immigration Policy Promotes Migrant Entrepreneurs | Breitbart
Another Feminist Lecture | Laura Perrins
UKIP Posters Bad Economics But Good Politics | James Delingpole
Tories Losing to UKIP in Scotland | ConHome
UKIPers Will Come Home in 2015 | Sun
Tories Set for Thrashing | Sun
Boris Announcement Imminent | Sun


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A confused Nick Griffin says Nigel Farage is a shill for the City, forgetting that City banks want to stay in the EU:

“Farage is a snake oil salesman, but a very good one. His supposed anti-immigration stance is all smoke and mirrors, as is his carefully cultivated image as a ‘man of the people’. The truth is that UKIP is a pro-immigration party that exists to lobby for the interests of the City of London.”



Alexrod says:

It’s money innit.


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