Jan 27

Forbes Pulls Down China Hoax Story; Even As Dennis Gartman Is Completely Fooled (ZeroHedge, Jan 27, 2013):

Earlier, we debunked an alarmist Forbes story about halted cash transfer by PBOC decree, which was erroneous along various lines all explained previously, not in the least that the actual announcement had first appeared some three weeks ago. And despite the kneejerk reaction of some of our more fatalist readers and not to mention the general public, the reality is that China has more than enough real problems (Trust Equals Gold being at the forefront) and certainly does not need to add imaginary, made up ones, conceived only with the intention of generating conflated ad revenues through click-baiting headlines. Which is why we commend Forbes for, better late than never, pulling the story even without providing an explanation of how this story appeared in the first place. Because where the article once was, there is only a 4-0-Forbes now:

Forbes Pulls Down China Hoax Story; Even As Dennis Gartman Is Completely Fooled

Perhaps it is not too late for Forbes to salvage some credibility. Continue reading »

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Jan 27

China Halts Bank Cash Transfers - Forbes
The Forbes article has been removed. (Google screenshot)

No, There Is No Stoppage Of Cash Transfers In China (ZeroHedge, Jan 26, 2014):

Earlier today, Forbes managed to spook readers with a bombastic report that China’s commercial banks had been instructed by the PBOC to halt cash transfers – something which would have dire implications on China’s banking system ahead of its new year holiday, and send the banking system into a tailspin just as China is desperate to avoid all turbulence ahead of a potential shadow banking default.

Leaving aside the fact that one should typically rely on official PBOC advisories, posted quite clearly on its website (where one finds no mention of this notice), one could simply keep track of interbank liquidity indicators such as repo and SHIBOR, both of which dropped, indicating that liquidity actually improved.

Anyway, here is what really happened, as reported by China Compass. “Forbes columnist Gordon Chang claimed in a much-quoted item today that the Peoples Bank of China had instructed commercial banks to halt cash transfers. Chang’s column, entitled “China Halts Bank Transfers,” specifically refers to Citibank’s Chinese branches. The report is entirely misleading.” Our advice – focus on the real “weakest links” in China’s banking system, of which there are many and are backed by facts, not the least of which is the potential upcoming shadow banking default. Ignore groundless rumors and speculation. Continue reading »

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Oct 16

And they earn NOTHING compared to the real power elite that runs America.


– The $600million dollar men: Meet the country’s ten highest paid bosses (whose combined incomes could pay the salaries of over 18,300 Americans) (Daily Mail, Oct. 15, 2011):

In light of the Occupy Wall Street demonstration taking place in downtown New York- and those of similar persuasions across the U.S.- the country’s richest one per cent are a very unpopular group right about now.

Making for more trouble, Forbes just released the list of the wealthiest 25 CEOs, and their earning numbers are astronomical.

The amount of money that the country’s top ten wealthiest CEOs make in one year is enough to pay the salary of 18,330 ‘average’ Americans.

Continue reading »

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Apr 06

Neuroscience and marketing had a love child a few years back. Its name – big surprise – is neuromarketing, and the ugly little fellow is growing up. Corporate pitchmen have always wanted to get inside our skulls. The more accurately they can predict how we’ll react to stimuli in the marketplace, from prices to packages to adverts, the more money they can pull from our pockets and transfer to their employers’ coffers.

But picking the brains of consumers hasn’t been easy. Marketers have had to rely on indirect methods to read our thoughts and feelings. They’ve watched what we do in stores or tracked how purchases rise or fall in response to promotional campaigns or changes in pricing. And they’ve carried out endless surveys and focus groups, asking us what we buy and why.

The results have been mixed at best. People, for one thing, don’t always know what they’re thinking, and even when they do, they’re not always honest in reporting it. Traditional market research is fraught with bias and imprecision, which forces companies to fall back on hunches and rules of thumb.

But thanks to recent breakthroughs in brain science, companies can now actually see what goes on inside our minds when we shop. Teams of academic and corporate neuromarketers have begun to hook people up to functional magnetic resonance imaging (fMRI) machines to map how their neurons respond to products and pitches. Continue reading »

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