China’s Spinmeisters Should Study Wall Street’s Big Lies

by Rick Ackerman

China Warns Its Bearish Analysts to Toe the Line was yesterday’s dog-bites-man story on the front page of The Wall Street Journal. The Chinese government could learn a thing or two studying how this works in the U.S., where complicity between the news media, the banksters and Wall Street serves to float their respective boats. Seldom do the Street’s vaunted analysts meet a stock they don’t like, and even when they hate a stock, it will usually be rated no worse than a ‘hold’. Sell recommendations, as retail investors know all too well, are disseminated to shareholders only after a stock has lost 70% of its value. As for the U.S. financial media, they are only too happy to do the Street’s bidding and to parrot the party line, since digging up actual stories on their own might take a little work.

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