Dan Gainor at Townhall.com notes that the media was not only wrong about their gas price predictions, but they were wrong more often than if they had flipped a coin.
The predictions were consistently wrong. ABC, NBC and CBS, who can seldom get current events correct, are even worse guessing future news. In fact, for most of 2008, network news stories that predicted oil or gas prices were wrong nearly two-thirds of the time (63 percent).
Two-thirds? You’d be better off flipping a coin or even counting on an NFL referee. Not one network report had guessed that gas would drop to $1.66, the current national average.
As we approach Christmas, let us thank God that the networks are losing viewers and the newspapers are going broke. This is the kind of stupid and irresponsible “reporting” that leads people to do the wrong thing at the wrong time.
Right now, for example, the MSM is predicting the end of the financial world as we know it. My bet is that January will see one of the most explosive rallies in stock market history. Meanwhile the people who rely on the MSM for their predictions will have their money under the mattress or in CDs at 1%.
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