Dow Defies Gloomy CBS Predictions

Obama's Church Bulletin: Networks Run By Right-Wing Bigots

Dow Defies Gloomy CBS Predictions

By Jeff Poor | October 29, 2007 - 18:01 ET

If you watched the October 28 CBS “Evening News,” you would probably have been expecting a rough ride today based on their reporting.

The likely ousting of Merrill Lynch CEO Stanley O’Neal prompted CBS correspondent Randall Pinkston to tell viewers to expect the worst as far as the stock market goes.

“O'Neal's likely exit sets the stage for another rough ride on Wall Street this week with more dramatic peaks expected in crude oil prices which hit nearly $92 a barrel last week and further uncertainty in the housing market,” Pinkston said.

However, in the short-term, that’s not the case. The Dow Jones Industrial Average finished up 64 points to close at 13,869 one day after his gloomy report. And, investors even welcomed the news of the shakeup at Merrill Lynch (NYSE:MER), as its stock finished up 2 percent.

“Evening News” didn’t stop with the dower predictions. To cast an even darker shadow on the economy, the report trotted out one “expert” who is expecting a recession.

“It's telling us if history is of any use to us at all, that we're probably facing a recession within the next – within the next year, if not sooner,” Charles Geisst, author of “Wall Street: A History” said.

It’s not as if CBS would have had to have gone out of their way to find someone with a more optimistic outlook. One leading economic voice is skeptical of the recession forecast.

Former Federal Reserve Chairman and media darling Alan Greenspan on October 10 said “odds are better than 50-50 the U.S. will skirt a recession over the next six to nine months.”

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Pinkston Propagandist

October 29, 2007 - 18:44 ET by Lame Cherry

I well remember Randy Pinkston's first real advance job in the Lawrence Walsh coup on George HW Bush's presidency.

Pinkston did a hatchet job on HW when he had ths stomach flu in Japan...........and I can still hear him hinting, "There is no proof there is not a more serious condition affecting the President".

Pinkston is a puppet who vomits up the spew he is fed by his globalist bosses. He would tell the world he dressed up as a boxer to entice a sexed crazed bulldog a Republican owned if he was ordered to. He is never interested in fact and it must be a wonderful look in his mirror to know he has been lying for over two decades without one anchor offering.
Pinkston is the guppie on the fish pole picking order as liberals might use him but the plantation owners at CNN, CBS, NBC, and ABC will like Barak Obama never let him stay at the main table.

Would it not be wonderful if Obama would wise up and figure out he is a shill and if he only took up real Christian values could be superstar in the GOP. Blacks are simply fodder for the DNC machine and they need to stop selling themselves as pawns.

*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS

Lib science

October 29, 2007 - 21:48 ET by JDW

Lenders made bad credit decisions because government wackos forced them to take the loans.

Earl prices continue to flirt on record highs because libs grab their ankles and cater to the elitist ewackos, import ALL earl.

The same libs continue to attack earl companies (Exxon...) in an effort to halt production.

Regardless, gas prices continue to fall and our economy prospers.

Ethanol is increasing food prices, and shipping as well as storage are big problems. Difficulties we never faced with earl. Sounding more like lib science?

JDW

Sen Clinton: Founder of Media Matters

While this story might be a

October 30, 2007 - 01:42 ET by jdhawk

While this story might be a convenient way to launch into the choppy waters that have been our stock market this year, in the rarified air that is investment banking, O'Neal let a stink bomb that was his company's most recent quarterly report. It was lousy. The contrast of it to that of a Goldman Sachs makes it even worse.

Nevertheless, one quarter does not make a firing. This is about agility - not O'Neal's, but the competitors in the industry. They are eating MER's lunch. Heck, what was once a southern regional bank just a few years ago, Wachovia, now has the number two brokerage in the country.

The board of directors and the shareholders of MER have been restless for some time. This was the excuse they needed to oust him.

Financial services haven't seen the last of poor earnings because of the subprime issue. Nevertheless, like a salve, the Federal Reserve's continued lowering of the benchmark, Fed Funds Rate, will help.