World's Largest Hedge Fund Manager Slams Mainstream Media's Fake & Distorted News Epidemic

Zero Hedge ^ | 1-3-2017 | Tyler Durden

[blam]

Tyler Durden
January 3, 2017

Ray Dalio, founder of Bridgewater - the world's largest hedge fund, has "been reflecting for quite a while on the destructive effects that fake and distorted media are having on our society’s well-being," but it appears a recent Wall Street Journal article about his fund - full of intentional distortions, appears to have pushed the billionaire over the edge at just "how destructive and widespread these 'fake' and 'distorted' agendas are."

Ironically, by slamming the WSJ, a shining beacon of the supposedly "non-fake news", as a representative of just that (for his personal reasons), Dalio has effectively discovered what many who have dealt with "professional journalists" have learned over time: agenda-driven, "real news" is just as bad, if not worse, than "fake news."

Dalio's full takedown of the WSJ:

The Fake and Distorted News Epidemic and Bridgewater's Recent Experience With The Wall Street Journal

To me, fake and distorted media are essentially the same problem in different degrees. My own experience, which I will share later in this piece, is just one small case within an epidemic. While Bridgewater will survive this case—and even if we didn't, the world would be just fine—it is questionable whether the world will be just fine if this fake and distorted media epidemic is not arrested. As Martin Baron, the Washington Post's Executive Editor, said in reflecting on the problem, "If you have a society where people can't agree on the basic facts, how do you have a functioning democracy?"

Distorted pictures lead us to make bad decisions. In my opinion, if people don't correct such inaccuracies and don't fight against this problem, continued distortions in the media will prevent the public's accurate understanding...

(snip)

This is not just a fringe media problem; it is a mainstream media problem.

(snip)

[Gaffer]

Liberal media, liberals, Democrats, nor elitist politicians never ever made a f@cking dime for the typical investor. They are all about siphoning off one’s wealth. Nothing more than that.

[blam]

So eager to report a story that there's no time to see if it's true. If it reflects the liberal narrative....print it!!

Washington Post Admits Its 'Russians Hacked A US Utility' Story Was 'Fake News'

[CincyRichieRich]

This is huge ...having the financial industry move away from their anybody but Trump stance to pro-Trump is a victory. That means in their decision making, they’ve recalculated and have cooked in any impacts they see.

[Fhios]

What are we going to do about all the fake opinions?

[blam]

"What are we going to do about all the fake opinions?"

Remember when we used to laugh at the Soviet news?

Ours has gone exactly the same way.

Believe nothing.