“How Personal Finance Journalism Works And Why You Should Pay Attention to It - CNBC” plus 1 more

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How Personal Finance Journalism Works And Why You Should Pay Attention to It - CNBC Posted: 08 Dec 2010 11:13 AM PST US News Page 1 of 3 | Next Page Show Entire Article How Personal Finance Journalism Works And Why You Should Pay Attention to It CNBC.com | December 08, 2010 | 02:15 PM EST Earlier today I pointed out that personal finance website Smart Money was urging people to save rather than spend the extra income they'll get from the temporary payroll tax cut. My point was to say that this could undermine the hopes of the Obama administration that the tax cut will create stimulus for the economy. Now more than one of my readers scoffed at the idea that there was anything useful to be gained from reading personal finance journalism. The main objection they had was that people do not really listen to personal finance writers. The secondary objection was that personal finance writing is useless because it is always either old news or a contrary indicator. So I thought I'd take a moment to explain how I think personal finance journalism works. The most basic criticism of personal finance journalism is that it is either so general as to be nearly useless or so dated by the time it is published as to be completely useless. This is more or less right, as far as it goes. Those lists of things like "Top 10 Stocks To Buy In 2010" are only useful if you are able to steal advanced copies and trade on the recommendations ahead of time. (Note: if you do this, you're probably engaging in what the SEC views as illegal insider trading.) Page 1 of 3 | Next Page Show Entire Article © 2010 CNBC.com All Rights Reserved DATA IS REAL-TIME EXCEPT NOTED WITH * * DATA DELAYED AT LEAST 15 MINUTES This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php Five Filters featured site: So, Why is Wikileaks a Good Thing Again?.

Uh Oh: Personal Finance Writers Are Already Telling People to Save The Money From The ... - CNBC Posted: 08 Dec 2010 07:31 AM PST US News Page 1 of 3 | Next Page Show Entire Article Uh Oh: Personal Finance Writers Are Already Telling People to Save The Money From The Payroll Tax Holiday CNBC.com | December 08, 2010 | 10:33 AM EST The Obama administration hopes that a one-year, 2 percent cut in payroll taxes will stimulate spending by consumers and give the economy a boost. But if the reaction from personal finance sites is any indication, consumers are likely to save more of the money than the administration hopes. Take SmartMoney. This morning it came out with a rather straight-forward article entitled "What To Do With A Payroll Tax Cut." It begins by pointing out that the Obama administration has a theory that this kind of tax cut—which delivers a small boost in workers' paychecks—will encourage more spending and provide more economic stimulus than the Bush era rebate checks did. (This theory is, to say the least, unproven. We pointed out some serious flaws in it yesterday.) But when it comes down to giving the actual advice about how to use the tax cut, Smart Money goes in the other direction. The very first thing it advises is that people put their money in an 401(k) or an IRA to "juice retirement savings." Page 1 of 3 | Next Page Show Entire Article © 2010 CNBC.com All Rights Reserved DATA IS REAL-TIME EXCEPT NOTED WITH * * DATA DELAYED AT LEAST 15 MINUTES This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php Five Filters featured site: So, Why is Wikileaks a Good Thing Again?.

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