Phrases I would like to see banished in 2012

Inspired by the story I heard on NPR about words and phrases that are banished (with no authority of course), I am presenting my list

  1. Ridiculous
  2. Fail, Epic Fail
  3. Intersection of x, y and z
  4. Correlation does not mean causation
  5. Interesting correlation
  6. Social media science/scientist
  7. Return on engagement
  8. Customer Experience/Nordstrom Experience
  9. Customers are having conversations about you
  10. Social business
  11. What can we learn from/ What can xyz teach us about business
  12. Infographic
  13. AB testing/Split testing
  14. Freemium startup
  15. Building a great product
  16. Astonish
  17. Delight
  18. Thanks for the RT/Mention
  19. Excellent read
  20. Dropping knowledge

Happy New Year

 

What happened to all the speculators driving up oil prices?

Speculators were an easy target for the Congress that wanted to show the people that they are doing something about the oil prices.  A simple explanation of demand and supply was not enough, it was too complex for most to comprehend.

Every story needs a villain, a damsel in distress and a knight in shining armor.  Arguably, the speculator are the real knights but they are not up for reelection nor are they good at pitching their side. So the lawmakers took the opportunity to pitch the plausible story of oil speculators driving up prices.

But as the demand fell due to consumers adjusting their behavior, the oil prices fell back 13% from its highs.  The Nightly Business Report’s Suzanne Pratt said this nicely:

PRATT: So what happened to all the speculators that were supposedly driving up prices and ignoring fundamentals? Today, futures regulators said an inter-agency task force has found that supply-demand fundamentals are the best explanation for the recent run-up in oil prices, not excessive speculation, as some lawmakers believe. Many economists and analysts agree that fundamentals, mostly strong demand from India and China, have been the primary price driver, as well as stagnant supplies. But those fundamentals may be changing. Economist Carey Leahy says investors are waking up to the idea that slowing U.S. growth and other global factors could result in a big drop in demand.

Of course there is enough room in this for lawmakers to tell a different story, the mere mention of curbing speculation was enough to slay the dragon.