Multi-year chart of lumber prices puts some of these "skyrocketing" and "cratering" headlines in perspective: https://tradingeconomics.com/commodity/lumber
That’s a cool website thank you for sharing it.
If I went and lifted the NYT CSS files and registered some intentionally misleading domain / company name like "Times of New York", I could go around saying whatever I want and a good number of people would believe it. Fake news is worse than wrong, its divorced from reality. There never was a journalist trying to get it right to begin with. Fake news is a click farm in Macedonia, not a news outlet that made a mistake.
See also: "deep state" (which has now been bastardized to mean "shadow government").
Sure, buying the genuine watch supports the IP holders and gives you bragging rights, but both the genuine and the fake are bad choices when you're looking for a high-quality, durable and precise watch.
> There never was a journalist trying to get it right to begin with.
By this standard, regular news would be fake news too. You don't get manipulative language in the article when someone is trying to "get it right" - it only shows up when someone is trying to get it wrong, on purpose.
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[0] - I.e. what computing hardware and home appliance vendors do all the time.
Fake news is like the man at the store told you it wasn't ticking because it just needs to be wound up, wouldn't let you take it out of the box, and you got home with it to find the dials are painted on and the inside is a few coins glued together. Whatever legitimate gripes one may have about Rollex cutting corners, it would be laughable to pretend like the time on their dials is just as useless as the ones painted on the fake watch and really its all just an opinion which one is "real".
What do you call something that looks deceptively like a watch but is actually just a prop? I'd call it a fake watch. What do you call a website that looks deceptively like a news organization but is actually just outrage headlines made from mad libs for clicks? I sure wouldn't call it real news.
Not some silly fantasy speculation good, like crypto or... overvalued stock.
Although it just "cratered" or "crashed" back down to entirely normal. Doesn't look like there's any oversupply glut causing it to overshoot to the downside. Lumber companies will have to learn to make do with charging the same prices they charged before the pandemic.
> Not some silly fantasy speculation good, like crypto or... overvalued stock.
Apple is not a “silly fantasy speculation good” anymore than a lumber futures contract.
Doesn't seem to support your claim that these are scare quotes at all.
Article indicated It went up to 3 times the price and is now down to pre rocket prices. Charts seem to agree?
In other words, the media is often radically hyperbolic to get clicks and ad views. So much so that when they use the same adjectives correctly they don't carry any weight anymore.
They're the boy who cried wolf.
I just don't think the random numbers you asserted are real at all - this would be something that one would need to test.
Anyone getting their 'market moving news' from BusinessInsider/financial news sites is doing it wrong.
It means that the hypothetical author of the article didn't have any idea what they're reporting, which is exactly what I was trying to express. The authors rely on the readers' ignorance and the way many people reflexively accept numeric data as true, pertinent, and sufficient evidence of any claim.
I wonder if anyone knows the reasoning behind these different patterns.
I don't know about the other stuff though.
You can store a million dollars of gold in a suitcase. A million dollars of oil at $10/barrel (the price right before the crash) is 3.5 million gallons of oil that has to be stored somewhere. And on a physical delivery futures contract you’ve agreed to take that delivery.
99.999% of oil traders are incapable of taking or providing delivery for settlement because of this and what you witnessed was nobody wanting to get caught holding the bag.
When I click on the 25Y and 'all' views, it definitely looks like a hockey stick.
Ergo the popular narrative of lumber prices has been accurate.