Thursday, February 17, 2011

Alarmist Financial Reports

"Figures released today by the Monetary Policy Committee of the Bank of England show that financial hyperbole is now at a record high, and could continue to climb until your children have left home.

Statistics have increased by up to 3.5% over the last quarter, and typical inflationary vocabulary, shared by economists, blogging worrywarts and financial reporters has broken its previous record – set in August ’09 – of 2,000 scary words per article.

‘The increased incidence of undefined TLAs in financial news reporting is a reflection of an underlying malaise designed to worry both savers and people with mortgages’, a well-meaning but actually uninformed financial expert, Jim McHugh, commented. ‘The rise in VAT, taken on its own is minimal, but when amplified by a lot of hysterical statistics and undefined references to petrol, RPI, CPI and the pound in your pocket it can scare the bezeesus out of 99.7% of the population...’"

- News just in from: News Biscuit


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