Another Amusing Media Interlude

Tyler Durden's picture

Yet another amusing media interlude. Zero Hedge appreciates the gossip pages' attempt at profiling our zany cause. Even if, as the case may be, these particular gossip pages are in fact owned by the very same Establishment that our "conspiratorial" disclosures attempt to represent for the motivated and deeply embedded wealth redistribution enterprise it is.

And while Mr. Hagan's reporting could have been better served with some more directed fact checking and appropriate disclosures (least among them being the representation that our "off the record" solicited information has helped additional relevant articles, namely, and ironically, this very one) it does highlight a critical point: when discussing financial matters, the "financial media" represented by "Establishment" type reporters and bloggers, just like the financial "regulators", is woefully behind the curve. For Wall Street (a place where the smartest come to roost but not for the sake of being smart, but merely to outthink other smart people in the perpetual quest in gaining a infinitesimal profit generating arbitrage), the race to the top means simply a race to find a new loophole, obfuscation, or a new form of informational "asymmetry." Proper and timely interception of these misguided Wall Street interests by the old media system has failed, pure and simple. While one can lay the blame on Wall Street, that would be short sighted - Wall Street only cares about one thing: the bottom line, it cares not how it gets there. One can also lay the blame on politicians, yet that would also be naive: Washington's purpose in preserving the interests of its electorate only goes as far as the lobby funding from Wall Street will allow it. Unfortunately, a key culprit in the recent near-collapse of the financial system (and by implication, of the Western way of life) is the entire old-school media itself, populated by financially uneducated journalists, to whom concepts like CDS, TALF and TLGP are "dense market analysis with technical charts and graphs" until someone explains their relevance and relationship to other simpler, more simple and mundane concepts. Alas, these are people who prefer to create biopic sketches, and create profiles consisting of attempts to attribute motivations based on fallback arrays filled with incomplete and, at times wrong, "factual" representations. After all, that's what the traditional media world has always done well, and, one could add, is the only thing it has done well. How this has directly impacted traditional media's bottom line is all too well known: not only are newspapers experiencing the worst financial crisis in history, with subscription and ad revenues plummeting, but soon the entire newspaper industry will be pitched by the administration as the next Too Big To Fail industry. How much of this is a reactionary campaign by traditional media users who are tired of being lied to by conflicted disseminators of misinformation time will tell, as well as tomorrow's carnage among the media landscape. Who survives will be just as revealing as who goes under.

As to Zero Hedge, our model is simple: we provide opinions substantiated by facts. Interpretations will vary: which is why the distributed, peer-evaluated model of content aggregation is here to stay: we, as well as the entire blogosphere, grow upon the feedback of our readers and other blogs. As an example, had the rating agencies approached their analytical product with the same openness, the credit bubble would have been diffused much, much sooner. Our "Borg collective" as penned by one Felix Salmon, consists of some of the most deeply embedded insiders, and not just on Wall Street. Our informational axes would make the traditional media "sourcing" model green with envy. And our desire to bring any bit of information we uncover for general public consumption, is the stuff the Established media model's nightmares are made of. It is no secret why that particular model is in its death throes. We do wish it all the best, although if Darwinian theory is correct, our wishes will have no impact on the final outcome.

We expect and welcome more such "interludes" - after all, as pointed out, they are the one thing traditional media is still good at. In the meantime, we will continue doing what we are good at, which is putting the dots together for the benefit of ever-increasing readers in the U.S. and worldwide, as well as for those in the old-school media regime who have taken enough Econ 101 to follow our narratives. We are unfazed by amusing labels trumpeting "conspiracies" and "disaggregation," as well as recurring other attempts to create strawmen for ad hominem attacks. After all, the conclusion is startlingly simple: silencing us would be best served by ignoring us.

That has yet to happen.

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CD's picture

Damn. I really am being indoctrinated here. I just wrote pretty much the same (though less eloquently) in  response to the article.

Reading this site would really be easier if there were 30-40 of me as well...

Hephasteus's picture

I'm the real Tyler Durden t-shirts. You know they would sell.

Hey did beaker write that story? Oh wait. He's a cnbc correspondant. Did someone write that story for beaker?

 

Anonymous's picture

The New York Magazine article calls Zero Hedge a "no-frills site"

Pray tell, what is a site with frills like?

MsCreant's picture

Frilly?

Why don't you ask Joe Blow Himself?

joe_hagan@hotmail.com

Anonymous's picture

There is a mirror site, and it's somewhere (perhaps aggregated in variant dark pools). It's called Infinity Hedge. It's full of frills (imagine Huffington Post in 3-D).
-AnonymousZero

matthylland's picture

welcome to the party!, Tyler.

Frankly, I think my response is the same as anyone elses....

'Tyler' may be Osama Bin Laden for all I care. Whether what is posted is "conspiracy" or not. It is full of facts and quotes, and should be read by anyone looking to form an opinion on our world's economy or politics.

Keep it up 'Tyler', I don't think many of us care who you are.

I wore my new zerohedge shirt (the ones from -273) through the Newark airport on my trip out to Seattle and Portland this past week. 1 person was brave enough to come up to me. Just someone who rarely posts, but a 'lurker'. I thought it was pretty cool to meet someone face to face. NYmag can call 'us' whatever they want, but you all have put something truly special together, and I am glad to play along.  Thank you Zerohedge.

 

Edit: try #2 at Captcha...3:42 is a little too late for me and solving these hard math problems!

narlah's picture

I am a lurker but id wear that shirt anytime :)

Thank you TD for posting the infos we read all day long. Thank you.

agrotera's picture

( Leo K....believing that the SEC would step in? et tu Leo?  SHOCKING.)

This NEW YORK article, in their usual style, is the same old hot air, gasbag snob saturated, step over the truth bullshit....what a waste that I took the time to read the garbage.

I am a Man I am Forty's picture

Really Leo?!  The same SEC that was "handed Madoff on a silver platter" but chose to ignore  for 8 years?  Puhleeze.  

The ultimate form of flattery is to have a news source such as the NY Mag try to discredit ZH.  Ahhh, how I love the smell of desperation in the air.

 

Sure wish I could sleep on Sundays.  I mean Monday.

Pizza Delivery Man's picture

I have a flight to London in a few hours hours. I am glad I was awake to read this as I will be busy tomorrow.

And Mr. Hagan is correct in that ZH has loyal readers.

Mr Hagan - You can suck a fart out of my asshole you dried and crusty shit stain. Attacking a blog is sophomoric and juvenile. I'd love to slap you like the little girl you are. Could you not figure out the CAPTCHA problems? Is that what upset you so?

-PDM

Cindy_Dies_In_The_End's picture

heehee. I love it when u talk dirty.

 

Anyway, I did glance over Hagan's steamy pile of shit. That paper must be getting very desperate to publish that half-baked, half-witted yawnfest.

Anonymous's picture

The appropriate fight club response to the MSM would be "Don't worry, it's not a threat to you."

Miles Kendig's picture

For Wall Street (a place where the smartest come to roost but not for the sake of being smart, but merely to outthink other smart people in the perpetual quest in gaining a infinitesimal profit generating arbitrage), the race to the top means simply a race to find a new loophole, obfuscation, or a new form of informational "asymmetry."

With respect to this quality and timeless quote I can only observe that the vast majority of the traditional financial media, and by extension most traditional media regardless of "slant" is either too stupid, too complicit or both in their realization that the information product that is produced by them, regardless of venue is a direct result of those they cover using the bold portion of the quote to grossly manipulate the flow and analysis of information by those traditional media outlets.  And in so doing rendering these media outlets and the product they produce as either compromised, worthless or both in the considered opinion of their consumers.  Hence their current rate of decline into oblivion of these outlets and those that are associated with them.

It is a testament to the "traditional" media model as currently practiced by those that own & populate it that when their work product is rejected in mass they feel compelled to attack the so called window dressing of the messenger of their demise rather than address the substance of the message itself.  As if either are at question with respect to ZH.

Now that the time has arrived when the broad spectrum of mass news consumers, from the most highly engaged and educated on any particular issue to those within the general population that consume their news at the educational level it is produced understand that traditional financial reporting is nothing more than what most parents of a newborn understand to be a "slurp & burp" form of communications.  The citizens of our nation require more from the fourth estate if they are to fulfill their obligation to the institution of responsible self government to be well informed and engaged.  It is time for the traditional media to either step up or be prepared to be moved out of the way.

nicholforest's picture

Tyler keep up the good work. These kind of attacks are a sure sign that ZH is getting under somebody's skin.

Anonymous's picture

That writer is an irrelevant ninny.

First they ignore you. Then they laugh at you. Then they fight you. Then you win.

Careless Whisper's picture

Joe Hagen = self-absorbed financial illiterate

kilroy's picture

old media will go away if we ignore it.

Hephasteus's picture

Ya and in the 90's AT&T would stop calling you and asking you to switch long distance carriers if you just said no i'm not switching stop calling me.

Zero Hedge and bloggers will be stalked by big media more and more.

Leaving the man is hard. It's like being beat out of a gang.

I'd like to cancel my Verizon phone service. Ok let me get your information.

Hold on I can't bring the account up can you please hold.

No you're lying to me. You're going to get someone to bother me you're computer is working fine. Cancel the service. Blah blah blah blah blah blah.

Then i keep getting stalked with a phone bill for canceled service. Then I tell them they are lying useless idiots and stop demanding payment. Then I get a bigger bill. LOL

Big business, big money, monopoly currency. It created rape. It knows it's wrong but does it anyway.

alien-IQ's picture

"Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has."
Margaret Mead

"First they ignore you. Then they laugh at you. Then they fight you. Then you win."
Mahatma Gandhi

reading's picture

Well, clearly the site is officially a success.  The further attempts to out your identity definitely means you are having an effect on someone and likely means (one could surmise) that the premise of the information presented here is on track.  No need to throw a dog off a scent if he's running the wrong way, right?

And, I for one, as a reader since the first months come here for the information.  I am intelligent enough to take the information here and make my own determination on conspiracy theories if that's the direction I want to take it. According to the articles author I guess I should assume that all these big financial types that ZH has shed some light on really just have my best interest at heart and I should just close my eyes and trust what they are telling me...oh, right everything that happened in the last 3 years just was a chain reaction and could not be predicted.  Hmm, funny, I could have told you more than 4 years ago that people buying those houses that didn't have income weren't going to be able to pay for them.  And I am not even a rocket scientist.

This article and it's author (I already forgot his name) are making a feeble attempt to maintain what was perceived as the status quo. I'll stick with personal responsibility for educating myself and then making my own decisions.

 

Thanks to ZH for acting as a great informational resource. 

 

blackebitda's picture

well i guess we can now write about tyler on wikipedia and how ZH started the innovation and progress of knowledge and information. Eric Schmidt might just find an interest in buying such a knowledge platform. 

Anonymous's picture

So he can coopt it for 0?

Hephasteus's picture

I thought Bubblicious Ben declared the recession over. Chicago Fed says no.

-.74 for July

I can't see how august could be any better.

Someone keep an eye on them. I bet it's fudged to say  -.69 with kudlow throwing a recession over party.

http://www.chicagofed.org/economic_research_and_data/cfnai.cfm

reading's picture

Don't worry, if they can't fudge it they will just ignore it.  I mean you know -- "The party must go on."

Hephasteus's picture

Oh krikey. They nutted up and told the truth. It DROPPED to -90. chicago says deep deep recession continues.

AN0NYM0US's picture

"His readership of angry traders and anti-government malcontents celebrated his newfound power."

 

I prefer to use the term "economic truthers"

 

 

Intuition's picture

I take as a compliment the label "anti-government malcontent." I'll reconsider when I see the first reason to be "pro-government" that is not based on obvious propaganda, indefensibly blind nationalism, or utter fear.

Cheeky Bastard's picture

See, that fucking happens when someone leaks your identity. They assault your family, they assault you; they assault the people you are connected with. And that article was garbage at its best form  ( i should know goddamn it; im a logician for fuck sake ). Invalid conclusions, highly speculative ( peasant expression for contingent ) structure of reasoning and a paradigm that one of TDs i actually Ivandjiiski. God fucking damn, someone should tare that site down like a Taliban tared down Russian helicopters. But one things is sure; the old media is dying, and its dying quickly. This is one more evidence. And the second fact is ( ok, there are two sure things ) that im pissed, insane, and highly capable. Come and get us biyatches. Long live ZH.

blackebitda's picture

yes anony is very valuable in times such as these. i understand such need for anony was the case while the declaration of independence was being penned. nevertheless, the here and now requires anony for those whom are knowledge capital and information managers such as we. on one hand the faster the old media dies the better, and on the other hand, they are helpful in keeping future expected investment returns higher.

btw, no reason to damn God, however, we all have free will.  

arnoldsimage's picture

cheeky... i'll share a foxhole with you any day.

spanish inquisition's picture

It's interesting to be able to question and read others questions in this environment. Like the old media, the Schopenhauer model of ideas (truth) is also dying. If I may propose the new one I now see as a possibility......

1. First they ridicule you..

2. Then they shoot you..

Unfortunately, this anon style of writing will not last either once the NSA site gets rolling.

MsCreant's picture

And Joe is not anon at all! No worries for Joe!

joe_hagan@hotmail.com

Anonymous's picture

New York mag readers mostly skipped that article in hard copy, and the online version probably got more hits from this site. Old Media was an empire built on distribution and not content - take away distribution, welcome to the new paradigm. suck it easy boys.

Anonymous's picture

Be careful! Your revelry in the apparent ultimate demise of the print media as well as the more staid old-timer organizations may be a bit premature. I have learned during my years in the hunt, it is the wounded and or threatened beast that is the most dangerous. Continue shining the light on the lies and the misinformation that such generate and keep the boasting in the closet please. Otherwise, the distraction of the legislative fight to control the free exchange of information that your efforts represent will be a distraction and energy sink away from that very hope.

CJ Fields's picture

New York Magazine = irrelevant.  please TD tell me you had this link sent to you and not culling for this garbage.

Anonymous's picture

Gee.....I don't think anybody ever claimed Zero Hedge is
perfect. But please look at the juggernaut they are
critiquing......a bunch of used-car salesmen and their
flacks who have managed to clothe themselves in the
robes of the Illuminati, but are, in fact, posers.
It's an old story....the emperorers are wearing
no clothes.

putbuyer's picture
Taxpayers vs. Investors: The Imminent Disinformation Schism

 

Was the first ever article I read back in April on Seeking Alpha. It was like a gallon of bleach wiped all the shit from my brain and I became aware. Who is this Tyler? I asked. I didn't before, but I do now - know the difference between truth and lies.

Anonymous's picture

New York magazine?

Yeah, its good if you need to be told what neighborhoods are cool, that $300 shoes will make you better looking, what establishments you NEED to eat at.

These people are selling the "life style obsession." They aren't credible to anyone with half a brain.

Keep up the good fight.

Constant lurker, but I am sure glad there are tons of smart, caring people out there.

Anonymous's picture

yes, lifestyle obsessions for the only consumers that are left to keep the entire ponzi pyramid from collapsing...i.e. those working in some capacity for the 'sacred fat cows' feeding off the gov't trough.

we have many of these people as customers.
we notice them getting more stingy than usual.
a stinginess that thinly veils the rising desperation that can be easily seen on one has the courage to look in another's eyes (all too uncommon in NYC -- we highly recommend it).

watch out for cornered rats friends.
best to put an extra clove of garlic in your pocket before you go out in public
(virtual public included)

Ivanovich's picture

You're getting to them, Tyler. It's that simple. There is a reason that more and more people distrust the MSM daily.

chindit13's picture

As for the "anti-government malcontents", I cannot imagine what possible fault any patriotic American could find with handing out taxpayer money and backstopping failure to the tune of somewhere between $11-$23 trillion to the EXACT SAME PEOPLE who caused the entire financial meltdown, not removing a single CEO from a banking institution, not enacting a single piece of legislation aimed at fixing the areas of the system that allowed the problems to occur, telegraphing every move to the same inner circle responsible for the mess, and generally thinking that one solves a problem by repeating the same things that caused it (cheap money, lax supervision, TBTF institutions, favored status institutions, less than arms length dealings with major firms).

Who are we to question the wisdom and intentions of our betters?  Geez, maybe I should volunteer for a waterboarding session down at Guantanamo to get my mind right. 

Anonymous's picture

Given your choice to cloak yourself in anonymity, then by definition an "ad hominem" attack is impossible.

Anonymous's picture

...oooh, this ought to drive Hagan up the other wall.

Cheeky Bastard's picture

Tractatus -  THE worst book on logic EVER; it is so bad, that Wittgenstein himself dismissed the conclusions which he made in Tractatus later in his writings ( i.e Philosophical Investigations ). That Wittgenstein is known, as the " Later " Wittgenstein, and his is so much better logician than the 1920s Tractatus Wittgenstein.

MsCreant's picture

Hey your Royal Cheeky Bastardness,

I answered your Baudrillard joke/allusion on the NBC for sale thread. Cool you had classes with Derrida. Bet Joe don't know shit about PoMo, Post-Structuralism, or Deconstructionist theory. Maybe you should share!

joe_hagan@hotmail.com