Jeff Poor's blog

Oops -- Cramer's October 12 Unemployment Prediction: 'We Are Not Going to Reach 10 Percent'

Drinking the Kool-Aid on MSNBC wasn't enough, even for CNBC's Jim Cramer, to escape the reality that Obamanomics isn't working.

Back on October 12, Cramer, to his credit, knew there were some problems with the $787-billion stimulus passed earlier this year. However, he felt it was necessary to pledge his admiration for President Barack Obama, Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke. But, Matthews asked Cramer if there would be something tangible to back up that praise.

"OK - let me ask you the question," Matthews said on MSNBC's Oct. 12 "Hardball." "Let's talk about how we keep score in electoral politics, that's how we keep score. Between now and next summer, when people begin to decide how they're going to vote in next year's election, will the employment rate be coming down by then?"

Vintage Santelli: PelosiCare Threat to Recovery; Dow Climb Due to Market Bet on Fed Response to Unemployment

A rising Dow Jones Industrial Average (DJIA) means better times are on the way, right? Not necessarily, according to CNBC CME floor reporter and tea party movement inspiration Rick Santelli.

Santelli made an appearance on CNBC's Nov. 6 "Fast Money," a show which the host, Melissa Lee, is skittish about a discussion that politics interferes with the market is a reality. Nonetheless, Santelli explained there so happens to be correlation between a rise in unemployment rates and the rise in the Dow Jones Industrial Average.

"[I] think we're building a stairway to heaven in Dow prices on the back of paper and I think that, you know it seems kind of dire to me that 8 percent - 8,000, 9 percent - 9,000, 10.2 - 10,000," Santelli said. "I shudder to think where the unemployment rate is going to be at 11 and 12,000 in the Dow."

Olbermann to 'House Call' Organizers: Pay 'Black Faces,' 'Brown Faces' to Attend; Says It Looked Like a 'Pro-Apartheid Rally'

Leave to a brilliant mind like Keith Olbermann, who finally decided to show his face on live TV after Nov. 3's Democratic defeat, to throw a temper tantrum about the public display of opposition to Speaker of the House Nancy Pelosi's that occurred on the west lawn of the U.S. Capitol on Nov.5.

After Olbermann and Washington Post columnist Eugene Robinson all but declared Rep. Michele Bachmann, R-Minn., organizer of the "House Call" event, an enemy of the state, they predictably came to the conclusion the event was racist. However to overcome that hurdle, Olbermann suggested organizers "pay" minorities to show up to make the cause look more diverse.

"On an associated point with this, how do the organizers of this not realize, ‘You know what, we had better get somehow, even if we have to pay them to show up, some black faces, some brown faces, some Asian people or somebody in this crowd other than the crowd we were seeing?'" Olbermann said. "Every piece of videotape I looked at looks exactly the same. This is otherwise going to look like a pro-Apartheid rally in South Africa 35 or 40 years ago."

'Countdown' Goes Drag to Rip Sarah Palin

Stay classy, MSNBC. 

On the day after the Republican Party showed gains in a few statewide elections and with key health care and cap-and-trade legislation pending, MSNBC went back to the well to do what it does best - attack the character of one of the network's favorite targets, former Alaska Gov. Sarah Palin.

On the Nov. 4 broadcast of MSNBC's "Countdown," with fill-in host Lawrence O'Donnell substituting for Keith Olbermann (still MIA since New Jersey gubernatorial race went Republican), Michael Musto, gay columnist for The Village Voice and author of "La Dolce Musto" dressed up as Palin and reenacted two phony speeches. The occasion: A few media outlets had obtained "leaked" portions of two possible speeches Palin would have given on Election Night 2008 in the event of a McCain/Palin victory and a defeat.

Not as Advertised: MSNBC Goes with Taped Olbermann During 10 P.M. Hour on Election Night

It's probably safe to assume many Democrats weren't happy about last evening's election results, no matter how they spun them and how they pertained to President Barack Obama. And to his credit, that's something MSNBC "Hardball" host Chris Matthews admitted was not good for the Democratic Party.

However, MSNBC, the so-called "Place for Politics" hyped up its Nov. 3 "Super Tuesday" election coverage throughout the day (emphasis added):

"Tonight, Super Tuesday continues on MSNBC with live coverage of ‘Decision ‘09' inside the key elections that will set the stage for a 2010 political battle," the announcer on the TV spot said. "Follow the results on MSNBC's primetime line-up. Plus, special live editions of ‘Countdown with Keith Olbermann' at 10, ‘The Rachel Maddow Show' at 11 and ‘Hardball with Chris Matthews' at midnight. Super Tuesday continues tonight on MSNBC, the place for politics."

Warren Buffett: 'Newspapers Have Got a Terrible Future'

Warren Buffett, the second richest man in the world and CEO of Berkshire Hathaway (NYSE:BRK.A), doesn't have much faith in the future of print media.

In an interview on CNBC's Nov. 3 "Squawk Box," following the announcement of his purchase of Burlington Northern (NYSE:BNI), Buffett was asked to comment on the future of news media, in particular newspapers and business news by "Squawk Box" co-host Becky Quick. Buffett is optimistic on the future of business news.

"Our system has just gotten started," Buffett said. "I mean, we've had a couple of hundred years of progress, but we have not exhausted our potential in this country. America's about business and business in America, you know have gone to greatness hand and hand. So, you do not need to worry about CNBC 10 or 20 or 30 years from now. Business will always be important to the American public."

CNBC: New York Times Potential Acquisition Target for Google

Want more evidence print media is giving way to digital formats? According to CNBC "Squawk on the Street" Nov. 3, Internet behemoth Google (NASDAQ:GOOG) could have its sights set on The New York Times (NYSE:NYT).

Brian Shactman, a general assignment reporter for CNBC noted an article in the Nov. 2 Wall Street Journal that indicated a lot of big companies are hoarding cash and short term investments and it pointed out the information technology sector had nearly $280 billion to invest.

"There's so much talk today about M and A," Shactman said of mergers and acquisitions. "Well let's look it forward - some names out there that could be in the offing, some things to think about. Remember The Wall Street Journal said yesterday tech has about $280 billion to work with. Remember Google said they wanted to make about one acquisition a month. They have the cash - they got to speed up."

Bartiromo Predicts Bush Tax Cuts Extended, Worries U.S. Not on the 'Ascent'

There's a lot of uncertainty with the U.S. economy and a lot of its recovery hinges on some key policy decisions due from the federal government. 

On CNBC's Nov. 2 "The Kudlow Report," CNBC host Maria Bartiromo discussed her interview with former Chairman of the Federal Reserve and Obama adviser Paul Volcker from the Global Financial Leadership Conference in Naples, Fla. One of the topics Bartiromo reported on from the conference was the possibility the Bush tax cuts would be allowed to expire, which she insisted is unlikely.

Laughable: 'Countdown' Accuses Palin of Sexism

The willingness of MSNBC on-air commentators to engage in political hackery for the Democratic Party knows no boundaries - as indicated by the latest charged hurled at former Alaska Gov. Sarah Palin. 

Keith Olbermann, host of MSNBC's "Countdown," who once called conservative blogger Michelle Malkin, "big mashed up bag of meat with lipstick," almost on a nightly basis attacks Rep. Michele Bachmann, R-Minn., and has also regularly drubbed Palin, is now charging her with sexism.

On his Nov. 2 broadcast, Olbermann accused Palin of forcing former GOP congressional candidate Dede Scozzafava out of the race for New York's 23rd Congressional District and said Palin should be charged with sexism for doing so.

Ted Danson: Rush Limbaugh, Religious Right 'Really Piss Me Off'

There's no better example than political commentary from a Hollywood elite to demonstrate how low some conservatives are regarded. According to actor Ted Danson, some conservatives are just being manipulated by Rush Limbaugh and organized religion because they're not smart to formulate their own beliefs. 

Danson, who has starred in both "Becker" and "Cheers," appeared on HLN's Nov. 2 "The Joy Behar Show" and was asked to respond to Rush Limbaugh's criticism of Barack Obama on Nov. 1 "Fox News Sunday." Danson questioned the notion that Limbaugh, who is a self-made success, is really "one of the people." Instead, he accused him playing on people's fears and anger to make money, which he didn't like.

Kudlow, Santelli: Dollar Devaluation Creating 'Façade' Bush/Obama Interventionist Economic Policies Are Working

Now that the Obama administration is attempting to take a victory lap on the U.S. economic recovery, claiming the $787-billion stimulus passed earlier this year was what did the trick, despite a cost of $160,000 per 'stimulus' job, as ABC's Jake Tapper pointed out, it has come at the cost of the U.S. dollar.

Since then, the stock market has rebounded nicely. The Dow Jones Industrial Average (DJIA) is off a March low of 6,547 points, even topping the 10,000-mark recently. But what has caused this nearly 50-percent jump? According to CNBC's Larry Kudlow - loose monetary policy by the Federal Reserve, with low interest rates, has made it possible for the markets to rise, with the 'loose' money going into the market.

"The funny thing is, Steven, it has gone into stocks - I mean the stock market guys ... there's no real multiplier for the economy, right?" Kudlow said on his Oct. 30 CNBC program. "But it has gone into stocks and the stock market crowd wants to see the Fed to keep pouring the money in no matter what happens to the U.S. dollar."

MSNBC Fail: Network Goes Alinsky on Bachmann (Again) to Promote 'Socialized' Medicine

After a pattern of attacking Republican Congresswoman Michele Bachmann of Minnesota, on a nightly basis, one of the strategies is becoming apparent - MSNBC is in need of a boogeyman to give a face to the opposition of these radical steps being undertaken to fundamentally change health care in the United States.

So rather than attack where the opposition is wrong on a policy level, MSNBC "Countdown" fill-in host Lawrence O'Donnell is going to apply one of the tactics from Saul Alinsky's "Rules for Radicals" to promote a dramatic shift in the U.S. health care system - "Pick the target, freeze it, personalize it, and polarize it."

"In our number five story on the countdown tonight, the Congressional Budget Office finds that it would leave 18 million people uninsured and the government-run health insurance plan will probably charge consumers premiums that are quote, ‘Somewhat higher, higher than average premiums for the private plans,' end quote," O'Donnell said on the Oct. 30 broadcast of "Countdown." "This is a devastating conclusion for a plan being sold not just as a low-cost option for consumers, especially poor consumers, but as somehow driving private insurance premiums lower."

Washington Post Column: Subsidize Journalists

It's bad enough we have to bailout banks and auto manufacturers or spread around subsidies for wasteful, inefficient forms of energy like ethanol and morally reprehensible institutions like ACORN and Planned Parenthood. 

However, now a couple of the wizards of smart that have managed to land a spot in the editorial pages of The Washington Post are lobbying for journalism subsidies.

In the Oct. 30 Post, the co-founders of Free Press, John Nichols of the liberal publication, the Nation and Robert McChesney, a professor at the University of Illinois at Urbana-Champaign, suggested it's time for the government to prop-up beleaguered journalists to "spawn" so-called independent media. Nichols and McChesney make the case that newspapers are important for two reasons - one not-so important one and one arguably legitimate one. They maintain President Barack Obama believes newspapers are important and that they play an important part keeping government in check. But in order for them to sustain this vital role in our culture, they say it's time for the government to lend a hand.

MSNBC's Maddow Hypocrisy: Bashes Opinion Journalist John Stossel for Advocacy

Over the past few weeks, MSNBC host Rachel Maddow has had a serious fascination with the grassroots advocacy group Americans For Prosperity (AFP) and how a "news organization" should be defined when it comes to press policy at the Obama White House.

But Maddow, on her Oct. 28 show, was able to merge the two topics in an attack on Fox Business Channel's John Stossel. Stossel recently came from ABC as a host of "20/20" to host a weekly opinion show on the Fox's business channel. But in Maddow's infinite wisdom, Stossel's participation in AFP activities somehow taints him.

"But first, one more thing about health reform and its politics," Maddow said. "Last week, we reported that Fox News contributor and soon-to-be Fox Business Channel [sic] host John Stossel will be headlining protest rallies against health reform staged by Americans for Prosperity, the lobbying group which refuses to disclose donors while rabble-rousing about the dangers of government-forced health care."

CNN's Lou Dobbs Claims Shot Fired at Home, Wife

Recently a lot of hubbub had been made about the possibility that the peaceful tea party protests and some conservative voices would stir up emotions that could lead to violence. Speaker of the House Nancy Pelosi was even one of those sounding that alarm.

But what has gone unsaid by those same voices has been the possibility of violence against those who might take a position antithetical to that of the left.

Case in point: CNN's Lou Dobbs. Dobbs, who has been the target of a smear campaign by the left-wing noise machine, told his radio audience on Oct. 26 that his home had been shot at three weeks earlier. (Unabbreviated audio available here)

Imus Rants About His Fox Critics; Calls Obama 'A Whiny Little Titty Baby and a Girly Man'

Ever since long-time radio talker Don Imus inked a deal with the Fox Business Network to simulcast his morning radio program, he said he has been getting pushback from several acquaintances.

And as he explained and showed on his Oct. 28 program, he's not particularly pleased with the reaction about his deal with Fox News.

"I get this email and the e-mail says, ‘Sorry to see you've sold out to Fox Business, or whatever. But I am not surprised you sold out to Fox Business, disappointed.' Could you explain to me exactly what does that mean? When you walk in the door here, Roger Ailes or Neil Cavuto or what's the other fat guy's name? Kevin McGee? Not the other fat guy, that was unfortunate."

CNBC's Kudlow Rips MSNBC for Lack of Balance; Calls for Supply-Side Solutions for Economy

It is bad when an anchor from a sister network feels compelled to call out a colleague about the lack of ideological balance, but that's just what CNBC's Larry Kudlow did on his Oct. 27 program

In a time when some of CNBC's critics demand the network be held to a high standard when it comes to balance, a different standard is applied to MSNBC. And a lack of balance is something Kudlow pointed out.

Kudlow, referring to the Oct. 26 broadcast of MSNBC's "The Ed Show," which featured Rep. Barney Frank, perennial presidential candidate Ralph Nader and the host Ed Schultz, noted all the participants were left-of-center.  And in the appearance, Frank made a pitch for the expanded role of government and argued the only reason people opposed it was because they were disillusioned by the government for its failures during the Bush administration, specifically dealing with Hurricane Katrina.

The Obsession Continues: Olbermann Condemns George Will’s Praise of Michele Bachmann

Want to be noticed by any one of the hosts that have a primetime show on MSNBC's weeknight lineup? Just figure out a way to make Rep. Michele Bachmann, R-Minn.  the subject matter, and there's an excellent chance either Ed Schultz, Chris Matthews, Keith Olbermann or Rachel Maddow will take a shot at it, or her, during their shows.

In the Oct. 25 Washington Post, George Will penned a column about Bachmann, outlining her ascendancy into the national spotlight, which told of her start in politics and how she grew to become reviled by the left. And it was just a matter time before one of the charming personalities on MSNBC made some sort of remarks about the column, albeit two days later. That came on Olbermann's Oct. 27 "Countdown" broadcast.

Financial Regulator Calls for Crackdown on Facebook, Text Messaging

Recent problems with the financial system could be used as a reason for regulators to have authority policing social networking sites like Facebook and other types of electronic communication like text messaging. If Financial Industry Regulatory Authority (FINRA) CEO Richard Ketchum has his way, that's exactly what will happen.

Ketchum appeared on CNBC's Oct. 27 "Closing Bell" in an interview with the network's NYSE floor reporter Bob Pisani from the Securities Industry and Financial Markets Association (SIFMA) annual meeting in New York City. Ketchum explained how the Internet and text messaging are unconventional means of communication that pose problems for regulators.

"With all of our kids, they don't talk by phones or certainly directly to each other anymore," Ketchum said. "They talk through the Internet and they talk through text messaging and they talk through Facebook."

HuffPo's New Obsession: Take Down the U.S. Chamber of Commerce

Every time the White House has a new enemy, left-wing Web-based media outlets take up the cause to defend the Obama administration.

Earlier this year when CNBC personalities criticized the Obama administration, the Huffington Post and other components of the left-wing noise machine watched every word said on the financial network - an effort that has since petered out. The Huffington Post also asked readers to supply reports to undermine the credibility of the tea party protests that were critical of the Obama administration.

So it should come as no surprise that the Huffington Post is making a call for all hands on deck to aid the White House with its latest feud with the U.S. Chamber of Commerce. The Huffington Post now wants to know who gives money to the Chamber of Commerce.