In this clip Kernan interviews oil analyst Stephen Shork, who lays out some pretty bullish fundamental arguments for oil to which, Kernan responds, "That's gobbledygook. It's QE."
Oil was at $150 per barrel in 2008, before the Fed ever even started QE and now, $3 trillion in QE later, oil is at $104.
CNBC, you suck!
10 comments:
Mike,
"gobbledegook"
No shit this is the SAME EXACT METAPHORICAL WORD used by former GOP Budget Director Jim Miller in response to your providing some pretty salient FACTS (similar to Schork here...) on fiscal policy during your last appearance on the Glen Beck channel here:
http://www.youtube.com/watch?v=2Ou7WbNiXjA
Interesting... so I'm sure now thanks to Kernan dropping this false metaphor here, a bunch of the QE rubes are remaining so...
Sad to watch what these idiots are doing to America....
rsp,
We have an unexplained local breach in the Bozone Shield.
Is it just the one, or is complete shield failure imminent, and already underway?
Roger,
with these idiots, I think if somehow you could set the ground rules for debate where they could NOT use metaphor in their responses, you might be able to destroy them... if not destroy you could at least land a BIG hit that would stagger them for sure...
The (false) metaphor creates some sort of semantic segue for the morons to be able to spew falsehoods in response to the dispensing of FACTS and MATHEMATICS from truth-tellers ... the non-mathematical rubes can't help but remain so when their ears take in this type of semantic technique...
You have to say to these morons: "refute this without using metaphor..." I don't think they could do it...
rsp,
They're both talking out of their asses. The other guy appears to be a shill for oil speculators. The oil market is largely rigged and the price is driven by worthless speculation.
y,
Right its a cartel... they both seem to ignore this... but Schork is still way closer to the truth than Kerman at least Schork has some S/D data he brings to the table...
rsp,
Matt, it's possible to do this in technical work, although ALL human symbology is metaphorical in some sense. It's how language developed.
But communication technical concepts to a mass market, "the public" or "the media," requires some use of metaphor. They cannot "do the math."
"they both seem to ignore this"
Kernan implies that Shork is shilling:
"I dunno Shork, I mean you love higher oil prices"
"Mark, these, I dunno, these guys in oil, I trust you more..."
y,
I have seen Schork bearish as well...
Mike used to have him on his show back in the day....
He seems to deny the monopolistic aspects in his information services yes, but I have seen him say things like "oil should not be going up" in the past...
Kerman is trying to break Schorks balls here because he is probably tired of paying $4.00 per gallon but he doesnt even know what the hell is really going on and in the process of demonstrating how stupid he is he ends up directly helping his fellow countrymen stay misinformed via the "gobbledegook" metaphor...
rsp,
Tom,
What I've patterned is a use of 'false' metaphor, and this is used to keep people mis-informed and in the dark, in the false... it always shows up in encounters/confrontations/debate... with truth-tellers.
As a counter example, I would point out how Dan Kervick is having the opposite result with his radio show host in NH, Arnie Arneson on his local FM station...
Fortunately Arneson has contacted Dan up there and Dan I'm sure is using some metaphors to explain how the system operates, but they are not false I'm sure... ie "govt is NOT a household"... etc...
Plus Dan has the math and facts on his side...
Arneson sounds like she is learning a lot as she gets the info from Dan...
If she would have contacted anyone else to help her reach an understanding of current operations, I'm sure they would have used false metaphor in the process and she would remain in the dark....
If she would have called Krugman for instance she would have heard of the dreaded "liquidity trap" and she would remain caught up in the false....
Someone who is tryng to understand things who runs into a moron that then dispenses false metaphor as a lead always remains in the false... from what I have observed...
This metaphorical technique may be a form of 'incantation' that the morons are able to cast upon the rubes:
http://en.wikipedia.org/wiki/Incantation
The ancients knew about this stuff looks like... I think the Greeks had the 'epode' or 'charms'....
You have to try to get them to engage without metaphor somehow...
If we humans couldnt talk, I dont think we could deceive each other like we often do it seems... there is a lot to language and words that is not readily apparent seems like....
rsp,
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