Eugene David
...The One-Minute Pundit

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THE NEWS HACK'S CREED:
I know more than you.
I make lots more money than you.
I'm smarter than you.
I'm sexier than you.
I appear on TV all the time.
I work ten minutes a day.
I rule the universe.
I'm going to live forever.
You are an idiot.

THE NEWS HACK'S CREED, No. 2:
A lie isn't a lie when it tells THE TRUTH.

THE NEWS HACK'S CREED, No. 3:
I've come to realize that the looseness of the journalistic life, the seeming laxity of the newsroom, is an illusion. Yes, there's informality and there's humor, but beneath the surface lies something deadly serious. It is a code. Sometimes the code is not even written down, but it is deeply believed in. And, when violated, it is enforced with tribal ferocity.
--JOHN "OMERTA" CARROLL.

THE NEWS HACK'S CREED, No. 4:
News isn't news when we don't report it.

PERMALINKS:

THE NEWS HACKS' DICTIONARY

THE EUGENE DAVID GLOSSARY

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Monday, February 14, 2011

Posted 8:57 AM by Gene

Cotton for March delivery rose 3.9% to settle at $1.8758 a pound on ICE Futures U.S., just shy of the $1.89 record hit during the Civil War. Prices surged the exchange-permitted daily limit of seven cents a pound.

The run-up was largely attributed to speculative buying, not the textile industry.

"I cannot say this clearly enough: this is not mill buying," said Sharon Johnson, a senior cotton analyst at Penson Futures. "Mills cannot buy at these prices. The vast majority has already done what they need to do."

REMEMBER, John Stossel, the speculator is YOUR FRIEND!

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