Larry Levin's Day Trading Blog: The 13th Floor

Learn to trade, we now continue with Larry Levin's blog to keep up with the markets we care. Today, the topic talked about is: "The 13th Floor".

Many people believe that the media is biased in favor of the left or the right, depending on which television station you’re watching, which is certainly true. One thing seems to be clear though, BOTH the left and the right sides of the media are dismissing the Libertarian running for president: Ron Paul.

The left hates his smaller government stance, while the right abhors his no war policy.

Time Magazine said this about the issue…

The sheer, smug dismissiveness with which the political press treats the libertarian Congressman in these clips is really something. And it’s yet another example of political media winnowing the pack in advance by deciding who is a “serious” candidate and who isn’t—in this case, seemingly, by deciding that Paul’s beliefs are too far out there or, maybe more likely, simply don’t easily fit the left-right narrative.

I’m not, by the way, making the argument that Paul would have a serious shot at the GOP nomination in any case. That hardly matters, though; a candidate with obvious significant support can still have a serious effect on the race, and its ideas, and that’s news. Or it should be, if the horserace handicappers didn’t insist on deciding their news angles in advance.

Jon Stewart displays the amazing dismissiveness here

http://www.thedailyshow.com/watch/mon-august-15-2011/indecision-2012—corn-polled-edition—ron-paul—the-top-tier

In other news, the European “emergency meeting” ended with no new news. Nothing in Europe was fixed but since it was discussed, it is no longer an issue.

Too bad that sort of nonsense doesn’t work in real life. Imagine you bet everything on black in Vegas and lose; then hold an emergency meeting with a counselor, talk about the debt, and then somehow your financial problems go away. Yes, make believe would be great.

Trade well and follow the trend, not the so-called “experts.”

Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.