UPDATED info on Harry "Doomsday" Dent and his SHITTY track record (20014 - 2015):
In the past, I have discussed the many ways the media deceives, spins and even lies about financial information as a way to please its financial sponsors, all while creating drama so as to captivate its sheep audience.
The goal of the media is two-fold. First, the media has to establish a large audience because the size of the audience determines the amount they charge companies that pay for sponsorships and advertisements. Second, the media has to make sure to keep its corporate sponsors happy. This goes well-beyond airing the ads companies have paid for.
Since corporate America and Wall Street buy the vast majority of ads and sponsor all sorts of shows, events and programming segments, the media always slants things in the favor of corporate America and the financial industry. For drug companies, this means the media will downplay the dangers of prescription drugs or air news on harmful side effects in ways that are deemphasized. The delivery of the propaganda is finessed so as to not alert the audience that the media sleeps in the same bed as those who buy the ads.
When it comes to the financial media, the agendas are less conspicuous for those who have not been induced into a mild hypnotic trance. Unfortunately, the media uses countless tactics to induce this mild state of consciousness in its unsuspecting audience. The unique thing about the financial media is that it extends throughout the entire media monopoly. For instance, when CBS or ABC reports on the stock market, the economy and other issues they draw upon reports or even journalists from CNBC or the Wall Street Journal. As well, all major television networks, radio stations, newspapers, periodicals and websites have formed partnerships with financial media programs.
The game is simple. The financial media creates the perception of valuable programming so as to attract its audience. Financial and economic news is reported in variable degrees in order to ensure the goals of the sponsors have been met. Sometimes this results in reporting knee-jerk events, exaggerations, distractions, and other techniques. Other times the reporting is more focused but highly deceptive. Among some of the more common strategies used are flooding, censorship, stacked decks. The media is controlled both by corporate America and Washington. Thus, the media provides much more detriment than value.
The financial media seeks to create panic and fear, mania and confusion, all while spinning, lying and censoring so that its sponsors feel like their money has been well-spent. As a result, Main Street tends to act on impulse so as to trade more frequently, most often with confusion and misdirection. This benefits E-Trade, Charles Schwab, Ameritrade and other online brokerage firms. And because these investors are acting out of emotion, misinformation and deception, Wall Street is pleased because it allows them to more easily take the money of Main Street.
Other times, mutual funds and insurance companies are propped up by the slanted opinions of the financial commentators or fund analysts. This provides the opportunity for front running by both Wall Street and individuals connected to the media, whether through their friend, relatives or others within their syndicate. These acts of securities fraud occur on a daily basis and add a sizable portion to the massive skimming and other fraudulent activities that steal billions of dollars from Main Street daily. The media will never discuss how fund companies stick their customers with exorbitant fees, nor will you hear how many of the fees are hidden.
Finally, the media will never point out the fact that equity mutual funds are the absolute worst investment to have during a bear market, as this would upset the companies that spend billions of dollars advertising on these networks.
When the media interviews professionals from the financial industry, more often than not these individuals serve as marketers with terrible track records. You certainly wouldn’t come to that conclusion based on their introduction. TV journalists hype up each of their pitch men to ensure they are perceived as credible experts so you will see value in tuning in.
It is a very rare event when the media bothers to independently verify the track record of its guests. Instead, the TV journalist reads their bios as if everything that has been written is true. After all, it’s not in the best interest of journalists to uncover lies and exaggerations made by those selected to serve as members of the financial media club.
Over the past couple of years I have exposed the reality behind several individuals who have been positioned by the financial media as experts. If the media claims some guy predicted the financial crisis, then by God they must have according to the sheep. Main Street acts inherently naïve as they automatically associate media exposure with credibility instead of spending adequate time to verify track records and look for bias and agendas.
The reputation of these hacks spreads like a virus. The more they are seen and heard, the more Main Street attaches credibility to their views. Before you know it, everyone thinks Meredith Whitney, Nouriel Roubini, Marc Faber, Robert Shiller, Peter Schiff, Harry Dent, Robert Prechter, Martin Weiss and countless others predicted the financial crisis.
More Ridiculous Market Predictions from Dent
Today I wanted to mention another individual who has been positioned by the media as a credible expert despite his dreadful track record. Perhaps you have heard of Harry Dent. Like the vast majority of this crew of mass marketers, Dent serves as a much better contrarian indicator than anything else.
Like others in the media club, Dent knows how to tell a good story. Combined with media status, Dent has been successful in terms of selling his books and newsletters. However, his track record has been another story. As you will see, similar to the other so-called experts who regularly appear in the media, Dent is a professional marketer and speaker, not a credible economist or investment expert.
Remember, real experts don’t spending most of their time giving media interviews, hitting the speaking circuit, making YouTube videos, and other marketing activities. These tasks are the focus of individuals like Robert Kiyosaki and Tony Robbins. But they are also the focus of Harry Dent, Peter Schiff and the others.
A few weeks ago, Harry Dent came out in the media with warnings of a coming market collapse over the next few months. Below I summarize Dent’s “predictions.”
The stock market could top 13,200 by late summer then collapse to 3000.
Oil and gold have already topped out and are headed down.
Real estate will go down by 50-60%.
Before I demonstrate how Dent is no different than the rest of the marketers who have been positioned as experts, let’s have a look at these “latest predictions.”
SIGN UP AS A MEMBER
to Continue Reading
SIGN IN TO YOUR ACCOUNT
to Continue Reading
See Our Copyright Policy
Copyright © 2008-2015. AVA Investment Analytics, LLC. All Rights Reserved.
Restrictions Against Reproduction: No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the copyright owner and the Publisher.
These articles and commentaries cannot be reposted or used in any publications for which there is any revenue generated directly or indirectly. These articles cannot be used to enhance the viewer appeal of any website, including any ad revenue on the website, other than those sites for which specific written permission has been granted. Any such violations are unlawful and violators will be prosecuted in accordance with these laws.
Article 19 of the United Nations' Universal Declaration of Human Rights:
Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.
More On Media Deception
How Should You Decide Who to Listen to?
No one has a crystal ball, but two things are...
Come to Mike Stathis if You Want the Full Truth
The Media Has Banned the World's Leading Investment Forecaster
Have you ever wondered why most people get...
Exposing Mental Midgets in the Financial Media (Short Version)
Peter Schiff Was Wrong: Taper Edition
MarketWatch is USELESS Media Whoring for Crooks
Yahoo Finance Hypocrites Criticize Doomsday Clowns
We here at AVA Investment Analytics do NOT...
Doomsday Investors = Sheep
Have a look at this video.
Discrimination: Jewish-Run CNBC Promoting Jewish Businesses
I have written much about how the Jewish media...
Starbucks Bans Press TV but Allows Live Porn
The video says it all.
WARNING: Peter Schiff is CLUELESS
Anyone who has a decent grasp on the economy...
VIDEO: Peter Schiff Calls Himself a Buy-and-Hold Value Investor. I am Laughing My Ass Off
Schiff claims to be a value investor. The funny...
VIDEO: Marc Faber Prefers Asian Equities
Just another example of how these media clowns...
VIDEO: Is Peter Schiff Finally Backing Away from His Extremist Claims?
Well, I'll let you decide for yourself. Watch...
Bloomberg Gets in on the Deception
Recently I showed you how CNBC and Yahoo showed...
The Criminal Financial Media Sinks to an All-Time Low
Recently, the financial media featured 16 year...
They Want Your Soul
Most likely, unless you have been following me...
He's Back! Harry Dent the Clown Making More Ridiculous Predictions
UPDATED info on Harry "Doomsday" Dent...
Where Do We Go for Reliable Information?
We are always being asked where else to go for...
Golden Dreams & Delusions: The Story about Gold You Haven't Heard (PART 2)
Aren’t some of you out there wondering...
Tired of Internet Ads? Let Me Show You How to Block Them
One of the faster growing ad firms is called Ad...
How the Jewish Media Steals from Gentiles
The Jewish mafia has designed countless ways to...
Revisiting Meredith Whitney
With less than two weeks to go, it would take...
Porter Stansberry the Clown, Preying on Sheep
I have not yet had the time to address the...
The Devil and the Conehead
For comic relief, we decided to post a brief...
Who is the Mad Hedge Fund Trader?
Proof that Zero Hedge Cannot Be Trusted
While checking our web hosting admin panel, a...
The Media's Latest Distraction: bin Laden's Porn Collection
The Jewish run media monopoly continues to...
The Embarrassing Track Record of Robert Prechter (Part 1)
This article represents the first in a series...
Deconstructing Meredith Whitney's Default Predictions
If I hired a full time staff of 100 financial...
The Associated Press and the GM Pump-and-Dump
In the vast majority of cases, news stories are...
Another Warning about the Media
As those who have been following me for some...
Max Keiser, Alex Jones and their Lackeys Scamming People AGAIN
I want to alert you to the latest scam being...
More Manipulation from the Media to Appease Angry Americans
Just a quick note, as I head back to some late...
Warren Buffett. The Newest Addition to the List of Hacks
I wanted to direct your attention to the latest...
Beck & Co.: Cashing in through Scare Tactics
It seems as if the new trend in modern America...
The Nonsense from Schiff Continues
Today, I’m going to show you just how...
Constant Contact - the Email Company Engaging in Selective Banning of First Amendment Rights
Perhaps you have noticed occasional email...
Another Reporter Gets Called Out
Previously, I published an article illustrating...
Zuckerman's Desperate Attempts at Damage Control
I just ran across an article by Zuckerman,...
Greg Zuckerman is Confronted With the Truth and Runs Like a Coward
Here is the email exchange between myself and...
How to Quickly Spot Useless Financial Websites and Blogs (Update)
This article was originally published on March...
Promoting Buffett's "Greatness" to Make Money
Just before packing up my bags to depart for my...
Another Media Establishment Bites the Dust and I'm VERY HAPPY
A few days ago, the liberal radio network,...
Selling You With Baseball Legends and the Buffett Name
Although I'm buried in work, I just had to stop...
Don't Be Played for a Fool
A while back, IAwrote a piece discussing why no...
I have said this is the past many times, and...
Death by Media (Part 3)
As many of you know, the media black balled me...
Death by Media (Part 2)
I continue where I left off from of this...
Death by Media (Part 1)
Amidst all of the media coverage, instead of...
Why No One Won a Pulitzer for Financial Reporting (Part 2)
Continuing from Part 1, I basically handed the...
Why No One Won a Pulitzer for Financial Reporting (Part 1)
Amidst the biggest financial crisis since the...
The Battle for Your Mind (and Money)
Human nature causes most people to attach...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 7)
Through much of this series, I’ve been...
More Propaganda and Manipulation: Compliments of Forbes
I recently ran across this advertisement piece...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 6)
In Part V of this series, I discussed how Don...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 5)
Let me give you a brief example how the entire...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 4)
In Part 3 of this series, I was discussing the...
Forbes: Creating Future Sheep
I ran across a link to an article from Forbes...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 3)
As I continue my breakdown of the inner...
Being Rewarded for Screwing You: Compliments of Comcast
IA happened to have the TVA on the other day...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 2)
You might be wondering why a leading investment...
More Stupidity from Doomers
I wanted to show you another example of the...
"Watch TV, Make Money!" Who's REALLY Making Money? (Part 1)
You may have read an article I wrote on Jim...
How to Spot a Wall Street Hack
I'll make this short and sweet so you will...
How Buffett Uses the Media to Cash In
Previously, I discussed the fact that what...
Why Buffett Doesn't Matter: Lessons in Sheepherding
Without a doubt, Warren Buffet is one of the...
Bernie Madoff in Perspective
The Savings & Loan Crisis had Michael...
Jon Stewart and Jim Cramer's Staged Theatrics
I won’t go into any type colorful...
Another Pubilicity Stunt from the White House
Itas been endless. Ever since Obama has entered...
A Lesson in Sheepherding, Compliments of Barron's
The following piece is a response to SA Editor,...
Maybe there's a good reason why CNBC has a show...
CNBC, the Bubble Network
While some would consider Cramer a aoestock...
If You Want Lies, Follow the Media
Rather than offer valuable insight from real...