'The Early Show' Blows it on Stock Market Fears

NB Interview: Jonah Goldberg, Author of 'Liberal Fascism' (Part I)

'The Early Show' Blows it on Stock Market Fears

By Jeff Poor | January 28, 2008 - 18:51 ET

It was supposed to be a bad day in the American stock markets according to CBS's "The Early Show." Guess what - they were wrong.

"Hong Kong's Hang Seng market was down more than 4 percent," Julie Chen said on the January 28 "The Early Show." "Tokyo's Nikkei index off about 4 percent. Wall Street may have a rough morning in advance of President Bush's final State of the Union address tonight. We'll be watching the markets throughout the morning."

Assuming American markets will follow the lead of any other international markets is an iffy proposition, as indicated by the performance on Wall Street today. After the gloomy forecast from "The Early Show" for the day, the Dow Jones Industrial Average (DJIA) finished in positive territory on January 28 - at the highs of the day, up more than 176 points. The NASDAQ and S&P 500 also finished in positive territory, both up more than 23 points.

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CBS used this incorrect gloomy outlook for the U.S. stock markets as a primer for guess what - another recession story.

"Now, if America slips into a recession, if Americans buy fewer goods, the Chinese will sell less, and they will make less," CBS correspondent Barry Petersen said. "Now, there is some hope here that when the Federal Reserve, the American Federal Reserve, meets later this week, it will do another cut of interest rates. A way to jump start the American economy and perhaps calm fears here."

U.S. stock markets finished higher on the day on the word the Federal Reserve would cut rates again according to CNBC reporter Bob Pisani on the January 28 "Closing Bell."

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It's well known in the investment community

January 28, 2008 - 18:57 ET by c5then

If you follow the "advice" of the stock analysts that dispense free information and "recomendations", you will pretty quickly lose whatever capital you invest. If you follow the MSM economic news and act according to their "predictions" you will EXTREMELY quickly lose any capital that you invest.

However if you use either or both as a contrarian indicator, you can do fairly well with your investments.

The day that "politician" became a career choice is the day we started losing the Republic. Let's get it back! Alan Keyes '08.

and why did the Stock Market not tank

January 28, 2008 - 19:01 ET by Lame Cherry

It would be because the American Treasury Department printed up billions of US dollars which they then were loaned by the Rockefeller/Rothshild/Warburg Federal Reserve to buy up billions of dollars of over inflated stocks to protect allot of rich people.......who being connected will dump the stocks on Friday plunging the market and making billions in sales.

So the average American just lost billions, still now owes billions more, paying more in interest and has just deflated the dollar another 1 percent so it costs them a thousand dollars a year more on imports.

The Early Show got it wrong. Their bosses who control the money supply made billions. Harry Smith in his investments made a few thousand and Americans got hammered.

Stop printing that damnedable money and start fixing this economy by producing wealth. That will fix the stock market forever.

*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS

The liberals don't like wealth, unless it's their own

January 28, 2008 - 19:15 ET by c5then

That's why they so like the "progressive" income tax that prevents people from slowly climbing up the wealth ladder. It also allows them to use their favorite hammer to make people do and think what they want - class warefare.

The FED is nothing but an inflation machine that takes the value of the US dollar and re-distributes it to the major shareholders of the FED (foreign central banks and major US financial institutions).

The day that "politician" became a career choice is the day we started losing the Republic. Let's get it back! Alan Keyes '08.

Could you kindly name the

January 28, 2008 - 22:34 ET by Evil Capitalist

Could you kindly name the foreign central banks that are the major shareholders of FED? No? I thought so. That's because there are none.

Wong as usually. Please

January 28, 2008 - 22:31 ET by Evil Capitalist

Wong as usually. Please educate yourself on a topic of printing the Federal Reserve Notes.

The reason market recovered was because due to the news of one of the worst months in the recent time ( that would be over 10 years ) in housing sales, and due to the FED giving clear indication before that should such market continue FED would lower the rates. As in real economy ( unlike the non-fiction gold bugs live in ) money must be borrowed, a decrease in the federal funds rate ( especially 50 basis point decline ) means lower CGS, a cut in federal funds rate would also mean higher profits.