Now shares go up by 10% in one day and do we get a green graph with the arrow going upwards? (Sample helpfully provided below)
Do we heck as like.
It gets mentioned in one sentence by Robert Peston.
FTSE up 9.84%. Dow Jones IA up by 11% in 2 days. But, those poor people sitting round who worried about those pulsating red downward graphs hardly get told about it.
A month ago journalists were telling us all about the London inter bank offer rate (LIBR). Now it hardly gets a look in. That's because it has dramatically fallen for three month borrowing (see graph below from http://www.thisismoney.co.uk/) so it's no longer news. Instead we get hysteria about the chancellor's borrowing.
So let's briefly recap. First of all we're told it's a bank lending crisis. But that's got better. So then it was a share crisis but now they've gone up - albeit for one day - and it doesn't get a look in. Because now they've decided it's a government borrowing crisis....or a government taxing rich journalists in two years time crisis....
It's all a great reason to listen to Terry Wogan instead of Today and watch Emmerdale instead of the News.
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