> For example, here is The New York Times for March 6, the day Dick Farson told me I was giving this talk. The column one story for that day concerns Bush’s tariffs on imported steel. Now we read: Mr. Bush’s action “is likely to send the price of steel up sharply, perhaps as much as ten percent…” American consumers “will ultimately bear” higher prices. America’s allies “would almost certainly challenge” the decision. Their legal case “could take years to litigate in Geneva, is likely to hinge” on thus and such.

> You may read this tariff story and think, what’s the big deal? The story’s not bad. Isn’t it reasonable to talk about effects of current events in this way? I answer, absolutely not. Such speculation is a complete waste of time. It’s useless. It’s bullshit on the front page of the Times.

His argument is that the media should only discuss whatever has happened already, and should absolutely never mention any expert opinion on how today's events will impact the near future? Saying that steel tariffs will likely to send the price of steel up sharply, perhaps as much as ten percent, is now "bullshit on the front page of the Times"?

I've read almost every one of his books and loved them. But this is a great example of how expertise in one field seldom translates to other fields.