CNBC's ticking time bomb Jim "Mad Money" Cramer lashed out at the Federal Reserve again on January 2 for not cutting interest rates. This time he suggesting the Fed was intentionally doling out punishment to reckless investors.
"I have to tell you that I look at this situation and I say to myself, ‘They [the Federal Reserve] want it. They want a recession.'" Cramer said on CNBC's January 2 "Squawk on the Street." "They're Puritans. They want to punish the people who were reckless in their eyes and the punishment has still not finished being metedout."
Cramer was called into a discussion about the Fed with CNBC's David Faber and "Squawk Box" co-host Joe Kernan.
"As 2008 begins, house prices are still skidding, bank losses are still mounting, oil is again flirting with $100 a barrel and consumers are buying less as prices rise," the editorial said. "To many, the wheels appear to be coming off the economy. To others, including President Bush and his aides, the economy is fundamentally sound and resilient."
"Millions of older Americans are facing an important decision right now," anchor Charles Gibson said. "And some hard sell insurance agents see them as easy targets. Every December, seniors choose between Medicare or any of dozens of private plans that compete with the government. This year, almost 9 million opted for the private plans. And as ABC's David Muir reports, some now have serious regrets."
"The economy is slowing down so fast this quarter you can see the skid marks as it slams on the brakes," Stuart Hoffman, chief economist at PNC Financial Services Group, said in an Associated Press story on December 20.
The story also quoted former Federal Reserve Chairman Alan Greenspan, who isn't optimistic either.
"He is a guy that doesn't get regular coal - I'm giving him high-sulfur stinky coal," Cramer said. "He is in the end an academic who is over his head frankly. I hate to say that. He's a volunteer official who is trying to do his best. But he had his chance and he's lost it."
"[I]f you look at the history of this substance, ["American Morning" co-anchor] Kiran [Chetry] - I think this is very important - we subsidize a lot of corn production in this country," Gupta said. "We've been subsidizing it for a long time to support the corn farmers, which is a good thing. If there is a problem in all of this, it is that maybe we make too much corn and some of that corn gets turned into this high-fructose corn syrup."
Time Magazine will announce its 2007 "Person of the Year" in its December 31 issue and Jobs is listed as one of the candidates. According to Time.com, he has several things going for him, but one glaring thing working against him:
"Pro: The iPhone is a triumph while iTunes expanded its reach as the dominant source of online music. Oh, and Apple stock is up a mere 100% in 2007.
Con: Not exactly a figure of global change. He's a businessman, albeit a great one." (emphasis added)
It is and it was showcased on the December 16 "World News Sunday" in a disturbing human interest segment about freeganism - a radical-left anti-capitalist movement.
Madeline Nelson, an executive-turned-freegan, was featured on "World News." The segment showed Nelson serving a four-course meal, which included a mixed green salad, stuffed peppers, and a tofu cheesecake with strawberries.
"The grocery bill for such an elaborate feast? Zero," said ABC correspondent Ryan Owens. "That's because this food doesn't come from inside a store, but outside of it."
"Critical condition" in medical terminology means a patient has a high risk of death that could occur within the next 24 hours. So when you see "Critical Condition: Rx For America," sounds like something is in really bad shape, right?
"I'm no longer fiery," Cramer said. "They had their chance," he said four months after the big tirade.
On the December 11 "Street Signs," Cramer's mood swung 180 degrees the other way after the Federal Reserve cut interest rates only 25 basis point to 4.25 percent - viewed as a disappointment by the shock stock picker.
Over the past two months, it has been on the way according to the media. But as of December 3, the price of crude has decreased - not increased as predicted.
"Crude briefly cracked $90 a barrel for the first time and analysts say that will soon trickle down to the pump," Alexis Christoforous said on the October 20 "CBS Evening News." "Some predict gas will jump $0.20 or more in the coming weeks. And if crude tops $100 a barrel, they say we could be looking at $5 a gallon."
"CBS is expanding its coverage of the environment," the ad reads. "We seek a talented reporter/host for Internet video broadcast. We are looking for smart, creative, hard working up and comers, who can bring great energy, creativity and a dash of humor to our coverage. A deep interest in the environment and sustainability issues will serve you well."
So you would think such a job would require a science background or years of covering environmental news? Not exactly.
"You are wicked smart, funny, irreverent and hip, oozing enthusiasm and creative energy," the ad reads. "This position requires strong people, reporting, story telling and writing skills. Managing tight deadlines should be second nature. Knowledge of the enviro beat is a big plus, but not a requirement."
When you have the following meeting of the minds in a public forum - NBC News White House Correspondent David Gregory, former "CBS Evening News" anchor Dan Rather, New York Times White House correspondent David Sanger, and former White House bureau chief and correspondent for United Press International Helen Thomas - there's a near certainty something outrageous will be said.
And that was the case on November 26 at The National Press Club when this roundtable discussion occurred for the taping of "The Kalb Report," a public affairs program broadcasted on various television stations throughout the country.
Storm gave her best shot at making an emotional plea for Hannah Montana concert tickets because the $200 price tag is just too high, although Storm has had a lengthy career in major network TV journalism, dating back to 1989 when she anchored "CNN Sports Tonight."
"[O]ne of the last parts of our travel survival guide, our Thanksgiving survival guide, of course, is the rising cost of the Thanksgiving dinner," "GMA" host Diane Sawyer said on the November 20 "GMA.". "As we said, the average price of a Thanksgiving dinner is up 11 percent from last year. So are there some ways to stretch the dollars and have no one know."
Also included in the segment was a story meant to tug at your heartstrings - a grandmother being forced to cut corners to make enough for her family's Thanksgiving feast.
When a MSM dinosaur like Tom Brokaw says he thinks print newspapers won't be around in 10 years, that's probably an indication the industry in trouble. (Click for audio.)
The former NBC "Nightly News" anchor appeared at the Sixth & I Synagogue in Washington, D.C. on November 19 to promote his new book, "Boom!" Brokaw said he envisioned a major newspaper going completely digital in 10 years.
"I was at The Washington Post earlier today," Brokaw said. "And in the lobby they've got a wonderful graphic describing how the printing press works and where it is ... 75,000 copies an hour it can turn out. Its last run is at 2:15 in the morning and [has] an automatic paper roll that comes when they run out of paper and the ink is recharge and I looked at all that and I thought - ‘Ten years from now, will it be here?' I don't know. Probably ... if you would do a hardcore analysis - probably not. It'll be probably digital 10 years from now."
‘Tis the season for lackluster holiday sales and prosperous debt collectors. Fa la la la la, la la la la...
Everything is a little downbeat according to the economic news leading into the holiday shopping season reported on the November 18 "CBS Evening News" - that is of course unless you're in the debt business.
"It happens to be pretty good," said Brandon Bradshaw about this shopping season. "So, we're one of the lucky ones."
But, CBS Correspondent Randall Pinkston trotted him out for a reason.
"Brandon Bradshaw's business? Debt collection," concluded Pinkston. "Russ, retailers are counting on shoppers like him because this is the make-or-break season. Fourth quarter - stores depend on holiday shoppers for 25 to 40 percent of their annual profits."
But on that night, one network (ABC) interpreted the data differently from the others about Stockton, Calif., the city with the nation's highest foreclosure statistics. "NBC Nightly News" and "CBS Evening News" reported 1 in 31 homes were in foreclosure and ABC "World News with Charles Gibson" reported 1 in 49 homes were in foreclosure.
According to RealtyTrac's Rick Sharga both numbers were "technically" correct, but the ABC report used the number for "unique household" – making its report more accurate.
What's another $1 trillion here and there among friends - especially when it promotes a leftist agenda?
Throwing around a big number like that obviously isn't a problem for one liberal executive. Woody Tasch, the chairman of Investors' Circle wrote in the November 15 Christian Science Monitor that since we can spend money on Iraq, we can spend $1 trillion over five years for socialist causes.
"Economists project that the cost of the war in Iraq, when all is said and done, will come in at $1 trillion or more," wrote Tasch. "I say: Let's do it again! Let's allocate another trillion dollars - but this time for the good of all humanity and all species. Let's do it with the same moral urgency and vision that has made America great at so many critical junctures in history."
After Wal-Mart (NYSE:WMT) reported higher third-quarter earnings and predictions of a "strong" holiday shopping season, the Dow Jones Industrial Average (DJIA) surged 320 points after taking a battering over the previous week.
What's another $500 taken out of your paycheck over the course of a year? It probably isn't much to global warming alarmists like Al Gore, but that's what it could cost you if legislation pending in the U.S. Senate is passed into law.
Does that $500 have your attention? Well, multiply that times every member of your immediate family.
According to a November 11 Washington Times editorial, a bill introduced in the Senate by Sens. Joe Lieberman (I-Conn.) and John Warner (R-Va.) that would require companies to scale back greenhouse-gas emissions could cost Americans $4 trillion to $6 trillion over the next 40 years.
If that bill were passed and made law, the tax would cost every man, woman and child - more than 303 million Americans - $494 a year, a significant burden on the U.S. economy.