Housing, oil and inflation were all common themes during the broadcasts of last night’s “CBS Evening News” and “NBC Nightly News.” But, unless you watched last night’s ABC “World News with Charles Gibson” instead of the other two, you would not have known about the positive GDP growth the U.S. Commerce Department reported yesterday.
“On the broadcast tonight, the economy is our big story,” “NBC Nightly News” anchor Brian Williams said to begin the October 31 broadcast. “We’ll have the interest rate cut, oil prices are soaring, and still, what about housing?”
It was the same dour mind-set on “Evening News.”
“With the ailing housing market threatening to infect the entire economy, Fed Chairman Ben Bernanke administered another shot of preventive medicine today, with a quarter-point rate cut,” CBS correspondent Anthony Mason said.
Despite those two gloomy stories, there was really positive news announced the same day.
The economy grew at a 3.9 percent pace over the summer, “the fastest in 1 1/2 years and an impressive performance,” according to the Associated Press.
With the exception of CNBC’s Maria Bartiromo casual mention of “a much stronger than expected economic growth report,” the news was unnoticed by CBS and NBC.
However, ABC “World News Tonight with Charles Gibson” did include the “surprisingly” good news in its October 31 broadcast.
“[T]he economy grew by nearly 4 percent between July and September, the biggest jump in a year and a half,” ABC correspondent Barbara Pinto said. “Driving those gains – consumers, whose spending grew at more than twice what it did in previous months. The weakened dollar is providing a boost for American companies doing business overseas. American exports shot up more than 16 percent last quarter, the largest increase in four years.”
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how in the heck can the
November 1, 2007 - 17:17 ET by crsheddhow in the heck can the main stream media miss all the GREAT economic news!?
--OIL NEARS $100, PULLS BACK... Stocks Plunge...
Fed Pumps $41B More...
Banks suffer big losses...
CITIGROUP Declines to Lowest in 4 Years...
all these stories can easily be found on Drudge Report. lazy msm can't even open their eyes and see how rosy things are looking.
Oh boy. You must get your
November 1, 2007 - 17:28 ET by JimboOh boy.
You must get your news from the main stream media.
Let’s look at the “Stocks Plunge” link, shall we?
NEW YORK (AP) - Wall Street plunged Thursday, pulling the Dow Jones industrial average down more than 360 points as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy. Down 360 points, or 2.5% off what is a near record high.
Slowing economy? Doesn’t that by definition mean that the economy is or was recently soaring? Where was all the coverage of that?
Leon says "By the way, I'm not afraid of fat people, I'm repulsed"
Truth Monger Says - "Both are religions [Christianity & Islam], yes - with the same percentage of terrorists."
you must be right. i'm sure
November 1, 2007 - 17:51 ET by crsheddyou must be right. i'm sure the economy started slowing at 6:37pm, right after the nbc and cbs broadcasts.
but, you are wrong about me getting my news from msm. each and every link i provided was found on drudge. maybe drudge gets all his news from msm.
maybe drudge gets all his
November 1, 2007 - 18:35 ET by NewsbusterbrownHe sure gets a lot of it from them.
Really Poor
November 1, 2007 - 17:32 ET by Lame CherryThe subject is in no reference to Mr. Poor, but instead to the henny penny blogger using Drudge headlines to say the sky is falling.
It is easy to see what is wrong, but is difficult for many to understand how to fix things.
I will plead once again for Fred Thompson and Republicans in Congress to put forth a plan where all the money being wasted on "global warming" research and other propaganda nonsense be instead given in grants to homeowners to really prepare for natural and war disasters.
These billions can be used to build shelters and stock them with supplies. This building will cause an economic revival and be a huge asset for the security of America.
This is easy, the money is there and colleges can quit wasting it on this bogus power grab policy.
Inflation due to keeping the world economy out of depression by CARTEL LIBERALS PRINTING MONEY IS WHAT CAUSED THIS current round of problems.
I have stated before that the US must be a wealth creating nation and not a nation which generates wealth by inflation.
So for those complaining about policy, it is liberal policy which has caused this..and yes George Bush implemented liberal policy as a quick fix.
Fred Thompson and the GOP can fix this easily.
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fred thompson = market recovery
November 1, 2007 - 22:49 ET by johnGreally? fred thompson is the answer? we're going to have to wait a long time.
this is a mid-cycle slow in the markets. first off today's market results are irrelevant to the overall economy's health. but on the other side, ben b wouldn't have cut rates if everything was super rosy. so where are we?
probably somewhere in between. like i said mid-cycle slowdown. the market was really moving a year or so ago, and recently a few issues have slowed it down. but we're still going forward. the key is not fred thompson(sorry), but rather trusting the Fed, containing the housing problems and liquidity returning to certain parts of the debt markets.
don't politicize the markets. they dont work that way. there will be bulls and bears forever, and being a Dem or Rep has nothing to do with it. If the market was doing so great but its just the liberal media making it look bad, then why would people be shorting the markets? on the reverse if it's really that bad, why would anyone be going long on the market, wouldn't they all be moving to cash/treasuries?
fixing the markets has nothing to do with fred thompson or the GOP. it has to do with many things out of their control.
Ignoring The Fed
November 13, 2007 - 10:32 ET by TinianI can't seem to insert a working link to another page so I'm testing on an old post.
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