Yum, I can smell the soup in the soup line already.

D

Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.

Remember Greenspan came out just hours after the 9/11 attacks and said the Fed was "open for business" and they would do whatever was necessary to prevent the a wider economic disaster? Why do you think he did that? Better yet, don't you think that simple statement had more effect on the markets than immediately slashing the Fed Funds Rate by 200 basis points?

Now we have the economic reciprocal of the MSM whipping everyone up into a frenzy to fit their political narrative. Emotions are VERY relevant in a market economy. I'm sure we've all seen the story about Wal-Mart gift cards being used for consumer staples rather than consumer discretionary. The Consumer Confidence Index is at a 5-year low. Even the Fed's recent rate cuts have more to do with psychology than economics since institutions are hoarding capital.

Is it a crime to report poor economic news? No, the MSM is obligated to do so. But is it a crime to report a 30 car pile-up when there is only a little boy with a skinned knee after wrecking his bicycle?

This isnt the first time this has happened. back during the 2006 election the media reported that the democrats were going to win big almost an entire year before the election. I swear it was the same story every day, the dems are going to win big in the 2006 election blah blah blah. Keep repeating the same thing and these people are right, it will become self fulfilling.

He is profound. If the media says it is so then it is so. The more the economy is talked DOWN the better the self fulfilling prophesy. 

Interest rates are low and the banks are no longer lending to the averagae buyer. Try a refinance or borrowing against existing equity?

Self employed with "no income verification" NO WAY. The little guy is screwed every way they turn and I am talking about good credit and on time mortgage payments.

Is the media responsible? In large measure YES. Let us not forget the congress who continues to scare the hell out of lenders as well.

I agree with Cavuto.

Just saw a CNBC self-promo ad that states something like "CNBC Is The Unbiased Business Network."

Obviously, a swipe at the Fox Business News channel.

So is CNBC, the most watched business channel in the world, getting feedback from disgruntled viewers, or does it actually think stock traders like me want to watch their HARD LEFT interpretation of business events?

On Thursday, Maria Bartiromo did a slavish, massively promoted, intensely favorable, seemingly endless interview with the Oba-messiah.

On Friday, suddenly, out of no where, CNBC starts to re-run clips of Obama's statement that he will raise cap gains taxes and other taxes, and they start having political talking heads debate the issue.

Curiously, though I watch about 25 hours of CNBC per week, the fact that both Clinton and Obama want to raise cap gain, dividend, and income taxes is almost never discussed.

Frequently, CNBC will have Wall Street executives on the show who have contributed money to Obama or Clinton, and CNBC will not even bring up the OBVIOUS issue of why these guys are in favor of increasing taxes on their customers.

CNBC treats Warren Buffet like a god, but never seriously questions his support of the Inheritance Tax, even though Buffet has a critical conflict of interest with his investments in (tax free) life insurance companies, and in Buffet's fire sale purchases of dozens of family owned businesses that could not afford to pay inheritance taxes.

I look forward to the day when my cable provider gives me the Fox Business Channel, so I can start watching "biased" business news.   

...but also that media are "committing a crime against the general public" by creating a self-fulfilling prophecy that will end up costing people their jobs in the long run.

Noel, that is exactly what they are doing, IMHO.

What is more, some of us have already been affected by this in a very adverse way, to the point where I am possibly facing re-locating to another state (Texas) to remain in my chosen field, or stay here and make much less money.

Needless to say, my derision for the MSM has risen to levels far beyond anything I have felt previously. Those mindless news readers will still be up there every day, making their millions for regurgitating news copy composed by equally brainless interns, and for their willing assistance in putting myself, and many of my friends, in a very bad situation.

But no, I'm not bitter. :-)

Theme for Election '08: I want my mommy!

 Fox Business News is correct.  The media has a profound affect of the economy. Technically we are NOT in a recession, but if that is all you hear from every news source you listen to, even a wild broker will sit up and take notice.

A few thousand people got loans from a few hundred lending institutions who should not have. They did not understand the terms in which they got the loans, a lot with no money down, then, when the interest rate went up, they couldn't afford them any longer.

Now, the Libs want the US taxpayer to bail these individuals and banks out. So this is in the medias head, these folks who should have never had these big homes in the first place constitute a economic crisis.

As usual, the Dems have not thought this through. Who do you bail out? Do you bail out the fella with the $500K loan who can no longer make his monthly note? What about his neighbor who has a $500K loan and is barely creaking by, but making his monthly note? How's he going to feel about his tax money going to his neighbor? What a pickle we'll be in if either one of these Dems now running get in and decide to "bail" people out. That's your and my tax money folks...going down another huge rat hole.

Let the market take care of it. It always has, it always will.

The comparison to 2000 is "stark," Noel..

Not only did the historic dot.com bubble crash, which followed the irrationally exuberant economic bubble of the late 90's, begin in March of 2000, but many critical (inc. Manufactoring) indexes were heading south all year long - right to the election, but retail gasoline prices were up about 56% in the 12 months prior to Bush taking his seat in the oval office.

The MSM's take on the economy all that election year? They kept plugging Gore on their brilliant record - even as the massive layoffs were beginning - as some $8-10 Trillion in equity was being lost, as the evidence of future budget surpluses were evaporating into thin air, and as millions of Americans would loose their retirement savings and the college fund for their children's education.

Democrats in Congress were talking about stimulous - but the MSM was looking the other way. Same cause as Cauvto is speaking of-- to assure that the Democrats stay in office.

In hindsight, even as the facts of the economic crash of the Clinton bubbles, and the rubble that left behind, lined the street, the MSM found themselves unable to listen to their own:

Dec. 11th, 2002 Hardball excerpt (Matthews w/ Gore):

MATTHEWS: Just as an observer again, I thought your campaign last time, it should have been very positive. It should almost be a bragging tour of America because we had excellent economic numbers and right through 2000, everybody was in the market and making money. The middle class was saving. The work working people were having jobs. Hispanics, highest unemployment, lowest unemployment, lowest black unemployment, lowest women’s unemployment, all the good numbers and yet your campaign had sort of a complaining character to it.

Things are wrong. They weren’t what they should be. If you do it again, would you correct that kind of tonal change?

GORE: It’s an interesting analysis. You know, the markets started down, the economy started down in March of 2000,

No, Matthews had probalby never stopped to consider that - he was too busy trying to get Gore elected in 2000. Of course there was little truth to any of Chris Matthew's commonly held fantasies, and Gore knew it, absolutely; but he, and the Clinton's, and their supporters, the MSM, continue to wallow in the hype and lies of how they want it to have been.

Bubbles. What is giveth - is taketh away. 

The media has been "talking down" the economy for far more than a year.  I can remember stories in newspapers on on network tv three years ago which essentially trashed the economy, and that was in the middle of a very strong growth period.  Most of Bush's term has been marked by strong GDP and job growth, low interest rates, inflation and unemployment, etc.   Yet, the media has been resistant to recognizing anything good about it.  Even now, we have not had even one month of negative growth, yet they are already throwing the word "Recession" around.  In truth, the msm has been rooting for a recession since Bush was elected; they do this whenever a Republican is in the White House.  Anybody over the age of 35 knows this.  They overstated the slowdown in the economy under HW Bush and helped get him tossed from office.  They overplayed the "good times" of the 90's, refusing to see any danger on the horizon during that bubble period, and helped get Billy Boy elected twice.  During Bush's term, all they see is danger on the horizon.  Anyone with half a brain who is even paying half attention can see this.

Those of us who have paid off our mortgages and socked away a few bucks would love to buy up some of the properties kept artificially afloat by this meddlesome government.

Instead we have to sit it out knowing to buy now is financial suicide.

♣ a seal

Just how the news media can cover a coming trainwreck like this without invoking images like Yertle the Turtle. I don't think it's possible if they're going to do an honest job. Another dud, IMO.
JMR

A corruption-story the TV media will-not cover.