Thread: $50 bbl of Oil
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Old 10-03-2008, 09:07 AM   #6
browna
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The media will pick the most outrageous or controversial analyst of the 5 they talk to.

When things were humming along a few months ago, the Canadian dollar was supposed to be at $.50 higher than the US dollar by now, and oil was supposed to be $190bbl if you listened to a particular analyst by now.
(sometimes, idiot investors actually started listening to these people, but that's another topic).

Now, when things are uncertain, they talk to someone else and Oil will be sub $50, and the CDN $ will by lucky to stay about $.70 US.

But, casual readers lap this stuff up as gospel, as if some of these analysts are highly knowledgable, as opposed to in reality, many of them being mostly speculators and people who just want their name in the paper.
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