News is the communication of selected information on current events which is presented by print, broadcast, Internet, or word of mouth to a third-party or mass audience.

Etymology

One theory claims that the English word "news" developed in the 14th century as a special use of the plural form of "new". In Middle English, the equivalent word was ''newes'', like the French ''nouvelles'' and the German ''neues''. Similar developments are found in the Slavic languages – the Czech and Slovak ''noviny'' (from ''nový'', "new"), the cognate Polish ''nowiny'' and Russian ''novosti'' – and in the Celtic languages: the Welsh ''newyddion'' (from ''newydd'') and the Cornish ''nowodhow'' (from ''nowydh'').

History

Before the invention of newspapers in the early 17th century, official government bulletins and edicts were circulated at times in some centralized empires.

The first documented use of an organized courier service for the diffusion of written documents is in Egypt, where Pharaohs used couriers for the diffusion of their decrees in the territory of the State (2400 BC). This practice almost certainly has roots in the much older practice of oral messaging and may have been built on a pre-existing infrastructure.

In Ancient Rome, ''Acta Diurna'', or government announcement bulletins, were made public by Julius Caesar. They were carved in metal or stone and posted in public places.

In China, early government-produced news sheets, called tipao, circulated among court officials during the late Han dynasty (second and third centuries AD). Between 713 and 734, the ''Kaiyuan Za Bao'' ("Bulletin of the Court") of the Chinese Tang Dynasty published government news; it was handwritten on silk and read by government officials. In 1582 there was the first reference to privately published newssheets in Beijing, during the late Ming Dynasty.

In Early modern Europe, increased cross-border interaction created a rising need for information which was met by concise handwritten newssheets. In 1556, the government of Venice first published the monthly ''Notizie scritte'', which cost one gazetta. These avvisi were handwritten newsletters and used to convey political, military, and economic news quickly and efficiently to Italian cities (1500–1700) — sharing some characteristics of newspapers though usually not considered true newspapers. Due to low literacy rates, news was at times disseminated by town criers.

Relation aller Fürnemmen und gedenckwürdigen Historien, from 1605, is recognized as the world's first newspaper.

The oldest news agency is the Agence France-Presse (AFP). It was founded in 1835 by a Parisian translator and advertising agent, Charles-Louis Havas as Agence Havas.

In modern times, printed news had to be phoned in to a newsroom or brought there by a reporter, where it was typed and either transmitted over wire services or edited and manually set in type along with other news stories for a specific edition. Today, the term "breaking news" has become trite as commercial broadcasting United States cable news services that are available 24-hours a day use live satellite technology to bring current events into consumers' homes as the event occurs. Events that used to take hours or days to become common knowledge in towns or in nations are fed instantaneously to consumers via radio, television, mobile phone, and the Internet.

Newspapers

Most large cities in the United States historically had morning and afternoon newspapers. As the media evolved and news outlets increased to the point of near over-saturation, most afternoon newspapers were shut down. Morning newspapers have been gradually losing circulation, according to reports advanced by the papers themselves. Commonly, news content should contain the "Five Ws" (who, what, when, where, why, and also how) of an event. There should be no questions remaining. Newspapers normally place hard news stories on the first pages, so the most important information is at the beginning. Busy readers can read as little or as much as they desire. Local stations and networks with a set format must take news stories and break them down into the most important aspects due to time constraints. Cable news channels such as BBC News, Fox News, MSNBC, and CNN, are able to take advantage of a story, sacrificing other, decidedly less important stories, and giving as much detail about breaking news as possible.

News organizations are often expected to aim for objectivity; reporters claim to try to cover all sides of an issue without bias, as compared to commentators or analysts, who provide opinion or personal point-of-view. The result is a laying out of facts in a sterile, noncommittal manner, and then standing back to "let the reader decide" which view is true. Several governments impose certain constraints or police news organizations against bias. In the United Kingdom, for example, limits are set by the government agency Ofcom, the Office of Communications. Both newspapers and broadcast news programs in the United States are generally expected to remain neutral and avoid bias except for clearly indicated editorial articles or segments. Many single-party governments have operated state-run news organizations, which may present the government's views.

Even in those situations where objectivity is expected, it is difficult to achieve, and individual journalists may fall foul of their own personal bias, or succumb to commercial or political pressure. Similarly, the objectivity of news organizations owned by conglomerated corporations fairly may be questioned, in light of the natural incentive for such groups to report news in a manner intended to advance the conglomerate's financial interests. Individuals and organizations who are the subject of news reports may use news management techniques to try to make a favourable impression. Because each individual has a particular point of view, it is recognized that there can be no absolute objectivity in news reporting.

Newsworthiness

Newsworthiness is defined as a subject having sufficient relevance to the public or a special audience to warrant press attention or coverage.

In some countries and at some points in history, what news media and the public have considered "newsworthy" has met different definitions, such as the notion of news values. For example, mid-twentieth-century news reporting in the United States focused on political and local issues with important socio-economic impacts, such as the landing of a living person on the moon or the cold war. More recently, the focus similarly remains on political and local issues; however, the news mass media now comes under criticism for over-emphasis on "non-news" and "gossip" such as celebrities' personal social issues, local issues of little merit, as well as biased sensationalism of political topics such as terrorism and the economy. The dominance of celebrity and social news, the blurring of the boundary between news and reality shows and other popular culture, and the advent of citizen journalism may suggest that the nature of ‘news’ and news values are evolving and that traditional models of the news process are now only partially relevant. Newsworthiness does not only depend on the topic, but also the presentation of the topic and the selection of information from that topic.

New Ecology of News

“Everything we thought we once knew about journalism needs to be rethought in the Digital Age”, professor of Sociology and Communication Michael Schudson points out. Today the work of journalism can be done from anywhere and done well. It requires no more than a reporter and a laptop. In that way, journalistic authority seems to have become more individual- and less institution-based. But does the individual reporter always have to be an actual journalist? Or can journalistic work be done from anywhere and by anyone? These are questions that refers to the core of journalistic practice and the definition of “news” itself. As Schudson has given emphasis to, the answer is not easily found; “the ground journalists walk upon is shaking, and the experience for both those who work in the field and those on the outside studying it is dizzying”.

Schudson has identified the following six specific areas where the ecology of news in his opinion has changed: 1. The line between the reader and writer has blurred 2. The distinction among tweet, blog post, newspaper story, magazine article, and book has blurred 3. The line between professionals and amateurs has blurred, and a variety of “pro-am” relationships has emerged 4. The boundaries delineating for-profit, public, and non-profit media have blurred, and the cooperation across these models of financing has developed 5. Within commercial news organizations, the line between the news room and the business office has blurred 6. The line between old media and new media has blurred, practically beyond recognition

These alterations inevitably has fundamental ramifications for the contemporary ecology of news. “The boundaries of journalism, which just a few years ago seemed relatively clear, and permanent, have become less distinct, and this blurring, while potentially the foundation of progress even as it is the source of risk, has given rise to a new set of journalistic principles and practices”, Schudson puts it. It is indeed complex, but it seems to be the future.

References

Further reading

Stephens, Mitchell. "The History of News - 3rd Ed" Oxford University Press, New York, 2007.

External links

Category:Television terminology

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name	Peter Schiff
school tradition	Austrian School
color	firebrick
birth date	March 23, 1963
nationality	United States
field	Financial Economics
religion	Jewish
alma mater	U.C. Berkeley (B.B.A.), 1987
influences	Irwin Schiff, Ludwig von Mises, F.A. Hayek, Murray Rothbard
opposed	John Maynard Keynes, Alan Greenspan, Ben Bernanke, Paul Krugman, Christopher Dodd, Barack Obama,
signature	}}

Peter David Schiff (; born March 23, 1963) is an American investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.

Schiff frequently appears as a guest on financial television and is often quoted in major financial publications. He is host of ''The Peter Schiff Show'', a radio show broadcast on terrestrial and internet radio. He is a frequent guest on internet radio as well as the host of the former podcast ''Wall Street Unspun''. In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.

Schiff is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets as well as foreign stocks and currencies.

Early life and education

Peter Schiff was born and raised in New Haven, Connecticut. His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion. Peter Schiff attended Beverly Hills High School in California, and graduated from the University of California, Berkeley in 1987 with a Bachelor's degree in finance and accounting.

Financial career

Schiff began his career as a financial consultant at a Shearson Lehman Brothers brokerage. In 1996 Schiff and a partner acquired a small brokerage firm that had been founded in 1980, reincorporated it in California and renamed it Euro Pacific Capital. The company today has more than 15,000 clients and six offices nationwide, with its headquarters in Westport, Connecticut.

According to a 2005 article in ''The Advocate'' of Stamford, Connecticut Schiff relocated the firm to Darien, Connecticut to find brokers "who think like him". The New York Metropolitan Area, Schiff says, has the biggest concentration of brokers in the country, making it easier to recruit employees. The company has offices in Newport Beach, California as well as in Scottsdale, Arizona, Palm Beach, Florida, Los Angeles and New York City. Euro Pacific Capital also holds the exclusive rights to broker some Perth Mint gold products in the United States.

Economic forecasts

Peter Schiff voices strong support for the Austrian School of economic thought, first introduced to him by his father.

2002-2008

In his 2007 book ''Crash Proof'', Schiff wrote that United States economic policies were fundamentally unsound, and predicted that the United States dollar would lose much of its value. Schiff believed that the imbalance between the amount of goods the U.S. consumed and what it produced would eventually lead to problems for the U.S. economy. As a remedy Schiff favored increased personal savings and production which he said would stimulate economic growth. Schiff cited the U.S.'s low personal savings rate as one of the causes of its transformation from the world's largest creditor nation in the 1970s to the largest debtor nation in the year 2000. Schiff attributed the low savings rate to higher inflation and the artificially low interest rates set by the Federal Reserve.

In a 2002 interview with ''Southland Today'', Schiff predicted that the economic downturn triggered by the bursting of the dot-com stock market bubble would lead to a bear market likely to last "another 5 to 10 years." In November 2002, US stock indexes began a bull market uptrend which held steady for five years, until reversing course in 2008, when they began a decline to less than half of their peak 2008 values, followed in 2009 by the Dow climbing 61% from its low point over the following year. After interviewing Schiff in 2009, journalist and finance author Eric Tyson referenced various Schiff predictions during the 2000s and stated that "On all of these counts, Schiff wasn't just wrong but ended up being hugely wrong."

In an August 2006 interview he said: "The United States economy is like the Titanic and I am here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States." On December 31, 2006 in debate on Fox News, Schiff forecast that "what's going to happen in 2007" is that "real estate prices are going to come crashing back down to Earth".

As part of these exchanges on Fox News and his repeated appearances on financial news network CNBC, Schiff had mentioned factors such as speculators and "the absence of lending standards" which are now seen by many to indeed be contributing factors to the housing crisis which began in 2007. On December 13, 2007 in a Bloomberg interview on the show ''Open Exchange'', Schiff further added that he felt that the crisis would extend to the credit card lending industry. Following this observation, it was soon reported on December 23, 2007 by the Associated Press that "The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier at 17 large credit card trusts examined by the AP... At the same time, defaults -- when lenders essentially give up hope of ever being repaid and write off the debt -- rose 18 percent to almost $961 million in October, according to filings made by the trusts with the Securities and Exchange Commission."

Since 2007, Schiff has stated many times that if the government doesn't change course there will be hyperinflation in the US. Schiff is one of a minority of economists credited with accurately predicting the financial crisis of 2007–2010 while "nearly all [macroeconomists] failed to foresee the recession despite plenty of warning signs". In his book ''Crash Proof'', he described several aspects of the U.S. economy that would lead to a recession.

A YouTube video entitled "Peter Schiff was right" became popular in late 2008 and 2009. The video consists of a compilation of clips of his many appearances on various financial news programs from networks including CNBC, Fox News, MSNBC and Bloomberg, most of which took place from 2005 to 2007. In the video segments Schiff explains the fundamental problems he saw with the United States economy at that time. Schiff's warnings of a coming economic collapse earned him the moniker "Dr. Doom."

2009-present

Despite predictions regarding the housing bubble and automotive industry difficulties coming to fruition, as early as 2009 Schiff was receiving criticism due to the performance of some of his client's accounts in 2008, as well as controversies over the predictions themselves. In January 2009, economic blogger and investment adviser Michael Shedlock reported, "I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008." Other criticisms followed, including the aforementioned Eric Tyson post as well as an article for the investment news site Seeking Alpha, published on the site two days after Shedlock's blog post. Later that week an article appeared in the ''Wall Street Journal'' reporting that Schiff's broker-dealer firm, Euro Pacific Capital Inc., "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" and that instead, the dollar advanced against most currencies, "magnifying the losses from foreign stocks Mr. Schiff steered his investors into."

The Director of Communications at Schiff's investment firm responded to the original Shedlock piece by saying, "While it is true, that our accounts have suffered badly in 2008, a fact that we have never disputed or ran from, [Shedlock's] estimates for the size of our typical client losses are exaggerated and unfair." Schiff personally responded to Shedlock's criticism by saying, "to examine the effectiveness of my investment strategy immediately following a major correction by looking only at those accounts who adopted the strategy at the previous peak is unfair and distortive" and called Shedlock's blog entry "nothing more than an overt advertisement (and a highly deceptive one at that) to use my popularity to advance his career," adding that losses were felt mostly by recent clients and not by others.

Schiff responded similarly to criticisms made by Wade Slome of Sidoxia Capital Management, LLC. in a September 2009 blog entry entitled, "The Emperor Schiff Has No Clothes." Schiff stated not only were the losses suffered by his clients in 2008 highly exaggerated, but also that most of those losses have already been recouped, stating that many who were down then are now up, and most long-term clients were never down at all, but merely temporarily lost some of the profits they had earned over the years.

The January 2009 ''Wall Street Journal'' article discussed the value of Schiff's predictions, and stated how deficiencies "made mincemeat of investors who took his advice in 2008." In an interview the following week Schiff likened himself to billionaire investor Warren Buffett, saying they were both "buy and hold" long-term investors. Contrasting his negative press he compared claims about accounts managed under Schiff's firm to the stock market value of Buffett's company, saying: "His approach is you buy stocks and you never sell them—you hope to never sell them—and Berkshire Hathaway is down 40% in the last thirteen months; I don't see the Wall Street Journal saying 'Warren Buffett made mincemeat out of his clients.'" The ''Wall Street Journal'' also published a letter written by Schiff in response to his critics saying: "My central investing premise, a weakening dollar and safety in gold, commodities and foreign stocks, didn't materialize in 2008. But all the ingredients were (and remain) present for those movements to occur. Over the past year, market reactions that I didn't foresee—massive global deleveraging, a knee-jerk 'flight to quality' into U.S. Treasuries and a sharp counter trend rally in the U.S. dollar—have kept the scenario from playing out."

In a November 2009 videoblog, Schiff said that five stocks he picked for ''Fortune Magazine'' in January 2009 had gained a total of 360%.

In a March 2009 speech Schiff said that it would be impossible for the U.S. debt to China to be repaid unless the U.S. dollar's value is substantially diluted through inflation. In September 2009 Schiff said that "I would not be surprised to see [gold] at $5,000 over the next several years" and that the 2009 stock market rally was a "bear market rally".

Political career

Schiff was an economic adviser to Ron Paul's 2008 presidential campaign. In support of Paul's economic revitalization plan, he said: "We need a plan that stimulates savings and production, not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction. If you want meaningful change—for the better that is—Ron Paul is the only candidate capable of delivering it."

In 2008, Schiff also endorsed Murray Sabrin for the U.S. Senate seat in New Jersey.

In an interview in February 2009, Schiff's position was summarized as a nonpartisan critique of American policymakers, comparing former presidents George W. Bush to Herbert Hoover and President Barack Obama to former president Franklin D. Roosevelt, with neither of the more recent incumbents comparing favorably to the earlier ones.

Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation. Schiff says that the economic crisis of the late-2000s provides an opportunity to transition from borrowing and spending, to saving and producing. He is critical of the U.S. government's efforts to "ease the pain" with economic stimulus packages and bailouts. According to Schiff, the U.S. government's approach of replacing "legitimate savings with a printing press" could result in hyperinflation.

2010 U.S. Senate campaign

In December 2008, Connecticut citizens created a website encouraging Schiff to campaign against the incumbent Senator Christopher Dodd. Approximately 5,000 people made campaign contributions using the web site. On February 21, 2009, a moneybomb raised over $20,000 for Schiff's campaign. In a May 2009 video blog, Schiff said that he was seriously considering a run for the senate and when questioned by a ''Washington Post'' reporter, he said the chance of him entering politics was "better than 50-50". In June 2009 Schiff commissioned a poll of likely voters which indicated that he trailed Dodd in popularity by four percentage points. On July 9, 2009, Schiff launched an exploratory committee and an official campaign website. He began accepting donations in an attempt to see if "people who really believe in freedom, liberty, sound money and the constitution are prepared to support that with an actual political contribution or to volunteer their services and work on this campaign." He received over 10,000 donations and many e-mails from around the world.

After giving some hints on ''The Daily Show'' Schiff officially announced his candidacy for the Republican nomination on September 17, 2009, during the MSNBC ''Morning Joe'' show. By October 2009 Schiff had received more than 10,000 telephone calls and letters and raised over $1,960,000 (USD) in campaign contributions.

At the May 2010 Republican convention, Linda McMahon received the most delegate votes but not enough to prevent an August primary election. U.S. Rep. Rob Simmons received more than the required 15 percent of the total votes necessary to force the primary. Schiff then collected the signatures necessary to earn a position on the August 2010 GOP primary ballot, submitting at least 400 signatures over the state requirement.

In July 2010, Schiff's campaign received endorsements from Steve Forbes and Ron Paul.

In the Republican primary, held on August 10, 2010, Schiff lost the nomination to Linda McMahon. McMahon collected 49% of the vote, with Simmons on 28% and Schiff 23%.

Ultimately, the election was won by the Democratic Party primary winner, Richard Blumenthal.

Broadcasting

From 2005 to 2010 Schiff hosted a weekly podcast named ''Wall Street Unspun''. In October 2010 Schiff began hosting a new radio show named ''The Peter Schiff Show''. The show is broadcast weekdays from 10am-noon ET on internet and terrestrial radio. The show has featured guests such as Ron Paul, Rand Paul, Niall Ferguson, Dennis Kucinich, Rick Santelli, and others.

Books

Peter Schiff is the author of five books published by John Wiley & Sons. His book, ''Crash Proof 2.0'', appeared on both the ''New York Times'' and ''Wall Street Journal'' bestseller lists.

''Crash Proof: How to Profit From the Coming Economic Collapse'', February 2007, ISBN 978-0-470-04360-8 1

''The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down'', 2008, ISBN 978-0-470-38378-0 2

''Crash Proof 2.0: How to Profit From the Economic Collapse, 2nd Edition'', September 2009, ISBN 978-0-470-47453-2 3

''The Little Book of Bull Moves, Updated and Expanded: How to Keep Your Portfolio Up When the Market Is Up, Down, Or Sideways'', 2010, ISBN 0470643994 4

''How an Economy Grows and Why it Crashes'', 2010, ISBN 978-0-470-52670-5 5

''The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country'', 2012, ISBN 9781250004475

References

External links

Euro Pacific Capital US Brokerage Firm Website

Euro Pacific Precious Metals Coin Company Website

Schiff for Senate Official Campaign Website

Peter Schiff Online, Official book site for Peter Schiff

Peter Schiff radio, Schiff's daily radio show

Peter Schiff blog

The Peter Schiff Blog

Social media

Peter Schiff's Official YouTube channel

Category:American economics writers Category:American finance and investment writers Category:American Jews Category:American libertarians Category:American money managers Category:Austrian School economists Category:Classical liberals Category:Connecticut Republicans Category:Financial analysts Category:Libertarian economists Category:Microeconomists Category:People from New Haven, Connecticut Category:People from New York City Category:Stock and commodity market managers Category:University of California, Berkeley alumni Category:Writers from Connecticut Category:1963 births Category:Living people

cs:Peter Schiff da:Peter Schiff de:Peter Schiff (Ökonom) es:Peter Schiff fr:Peter Schiff nl:Peter D. Schiff (econoom) ja:ピーター・シフ pl:Peter Schiff pt:Peter Schiff fi:Peter Schiff uk:Пітер Шифф

Name	Christopher Hamlin Martenson
Birth date	September 15, 1962
Known for	Former Vice President of Pfizer, Inc. and Science Applications International Corporation
Nationality	USA }}

Christopher Martenson, PhD, is an American scientist who has done research in biochemistry, neurotoxicology, applied pharmacology and in vitro techniques. He received his doctorate in neurotoxicology at Duke University in 1994 with his thesis ''Acrylamide neurotoxicity: effect on neuronal growth cones and axonal fast transport'', and completed a post-doctoral programme at that university in 1995–1997 where he specialised in neuronal signal transduction and transport. Martenson also holds an MBA degree from Cornell University (1998) and is a fellow of the Post Carbon Institute.

Career

Christopher Martenson was Consultant In Business Development and Strategies of Pfizer, Inc. Later he became the Vice President of the company, and later still – a Vice President of Science Applications International Corporation's Life Sciences Division, which position he held till July 2005.

In more recent years Martenson stepped away from biological sciences and management to develop an educational video seminar series called The Crash Course (originally published in October 2008) based on neo-malthusian concepts. The course investigates the ways in which the economy, the environment and energy are interlinked and interact.

Publications

#Axonal transport: beyond kinesin and cytoplasmic dynein, ''Current opinion in neurobiology'', 1991–Oct, vol. 1 (issue 3): pp. 393–398 #Fast axonal transport is required for growth cone advance, ''Nature'', 366, 66–69 (4 November 1993) #Acrylamide neurotoxicity: effect on neuronal growth cones and axonal fast transport, a ''Duke University'' thesis, Ph.D. M377A 1994 LSC. #''In Vitro'' Acrylamide exposure alters growth cone morphology, ''Toxicology and Applied Pharmacology'', Volume 131, Issue 1, March 1995, pp. 119–129 #The effect of acrylamide and other sulfhydryl alkylators on the ability of Dynein and Kinesin to translocate microtubules ''in Vitro'', ''Toxicology and Applied Pharmacology'', Volume 133, Issue 1, July 1995, pp. 73–81 #Calmodulin dynamics within intact hippocampal cells, ''Duke University'', 1F32NS010263-01 (1996) #Inhibition of Lyn function in mast cell activation by SH3 domain binding peptides, ''Biochemistry'', 1997, 36 (31), pp. 9388–9394 #Internal trafficking and surface mobility of a functionally intact beta 2-adrenergic receptor – green fluorescent protein conjugate, ''Molecular Pharmacology'', 51:177–184 (1997) #Cornell equity research of ArQule, Inc., ''Cornell University'', 17 November 1997

References

Category:1962 births Category:Living people