Note that this post from Washington’s Blog is from yesterday, and references information from Thursday. Yet only today is the general media reporting that Top Kill has failed. Only today is BP admitting that this effort will not work and they will move on to plan what? “F”?
Quite some time ago, May 19th, another blog site, Zero Hedge, reported that the flow of oil was much greater than the official reports. The government admitted the same about 8 days later.
We are in the unfortunate circumstance where the government and large corporations believe they should manage the news cycle and where the blogosphere is the best source for timely information and truthful, unbiased reporting. Granted, readers must sift out what of the blogosphere stuff to believe because there is junk out there as well. But the elites that run Washington and Multinational corporations have put the public in a place where they must go to alternative media, with its inherent risk of unreliability, to get real information in real time.
I am not an investor’s blog, but I find some of these sites provide much better information than you might find in the media and certainly much more depth than you will ever find on CNBC. Here are three pieces you might want to read if you are an investor.
Mauldin Letter (you can go to site and subscribe to this by email)
So where are we? Government (Timmy G, Ben B, Larry S…) is telling us that all is sanguine. Congress is patting themselves on the back for a FinReg bill that does not solve the major issues though it does help on some peripheral issues. BP keeps saying there is a 60%-70% chance of such and such succeeding. These are all unreliable sources.
The denial of reality is a symptom of a deeper illness. Be skeptical. Think for yourself. Decide who to trust. Make your leaders be real leaders or find new leaders.