.... when reading WSJ editorials you need to bear two things in mind:I forgot where I heard it, but I like this explanation as to the WSJ's popularity with its target demographic: "whereas the news section tells executives what they need to know, the editorial page gives them what they want to believe." Before Murdoch bought the WSJ, I often felt compelled to buy the paper -- for the long stories with in-depth investigative reporting. But under the new management, there appear to be fewer of those.
After all, here’s what you would have believed if you listened to that page over the years: Clinton’s tax hike will destroy the economy, you really should check out those people suggesting that Clinton was a drug smuggler, Dow 36000, the Bush tax cuts will bring surging prosperity, Saddam is backing Al Qaeda and has WMD, there isn’t any housing bubble, US households have a high savings rate if you measure it right. I’m sure I missed another couple of dozen high points.
- The WSJ editorial page is wrong about everything.
- If you think the WSJ editorial page is right about something, see rule #1.
Saturday, October 10, 2009
Posted by Jotman on Saturday, October 10, 2009