Something rather extraordinary occurred last December which had extremely ominous implications for stock investors around the world, but got totally ignored by the media.
In fact, if not for a recent video posting at YouTube, and a March 20 article in the New York Post, these spectacular revelations would still be well under the radar.
On December 22, CNBC’s James Cramer did a web interview for TheStreet.com TV. In it, he told TSC’s executive editor Aaron Task about how he used to manipulate stocks and the market when he was a hedge fund manager, and explained how such people today can’t “do anything remotely truthful” if they want to make money (video available here).
As TSC reported in a recap at its website the same day (emphasis added throughout):
“Sixty bucks! That’s ridiculous,” said one woman filling up her gas tank, on ABC’s “World News with Charles Gibson” March 12.
Consumer complaints and frequent mentions of "the most expensive gasoline" in the country are used by the media to hype rising gas prices. And what state has the most expensive gasoline? California.
“Let me show you what is the most expensive gasoline location in the country. A gallon of unleaded in California right now going for $3.08 a gallon,” said NBC reporter Tom Costello during the March 12 “Nightly News.”
Costello's report, like many others on NBC, CBS and ABC left out the explanation for exorbitant prices at California pumps: higher taxes and excessive environmental regulation.
It was Democratic presidential hopeful John Edwards trying to revive his ‘70s disco moves and he danced around every tough question CNN’s Miles O’Brien threw at him. Most notably, how much does it cost to pay for energy in the new 28,000-square-foot mansion Edwards calls home?
“It’s actually not bad.” And followed that up with talk of how energy efficient the home was.
“I’m not telling you. It’s actually, it’s actually not bad. It’s about three or four hundred dollars, the last one I saw.”
Following that claim, Edwards backed off a bit and said “the power bill is several hundred dollars a month.”
Edwards also claimed he and his family operate the house in a “carbon neutral way,” though he wants to put caps on how much carbon dioxide businesses operate. “We have committed to operate this house in a carbon neutral way which means in addition to using energy saving devices in the house itself, to the extent that doesn’t cover it, we’re going to purchase carbon credits on the market,” said Edwards.
On the March 19 edition of "The View," Barbara Walters returned from Venezuela where she conducted a puffy interview with President Hugo Chavez.
Walters insisted that "he is not crazy" and "he does not hate the United States" but "hates George Bush." The veteran ABC journalist, however, felt the discount oil Chavez provided to Hurricane Katrina victims is "a good thing to do."
Yet in 2001, ABC described American aid to the Afghan poor as merely "propaganda."
Although Barbara said he is a socialist and mentioned in passing that "he’s got a lot of things that are not so wonderful," there was not even a murmur about Chavez’s assault on the free press. Rosie O’Donnell, who rants against the PATRIOT Act’s alleged assault on civil liberties, did not bother to raise that concern. They even displayed some love for the Venezuelan dictator when Rosie coddled a talking Hugo Chavez doll. Ironically, on the next subject on patriotism, Rosie and Joy exclaimed that dissent is patriotic. The transcript is below.
As already noted on NewsBusters, "20/20" anchor Barbara Walters interviewed Venezuelan President Hugo Chavez for a segment airing on the March 16 edition of the program. And although she did occasionally challenge authoritarian leader, Walters spent much of the interview discussing important topics such as whether Chavez likes coffee, marriage, and generally regurgitating the Venezuelan President’s propaganda.
Walters, appearing on the Friday edition of "Good Morning America" to plug the interview, even touted a Chavez run for political office in the U.S.:
Robin Roberts: "Did he think he would do very well if he ran for office here in this country?"
Barbara Walters: "He said, ‘You know, if I came to this country, I would run, I could run an election if I changed my name to Nicky Chavez because I am for humanity. I am for disseminating the wealth. I am for helping people.’ He says, ‘I would win.’ So put his name down on the list."
While viewers were told that the interview with Venezuelan dictator Hugo Chavez “pulled no punches,” you sure could have fooled anyone watching. ABC’s March 16 “Good Morning America” treated Chavez as a man who “does like this country.”
She actually meant the United States.
Flashback to the same network in 2005. Reporter Dan Harris of ABC’s “World News Tonight” was more up front about Chavez in a Nov. 6, 2005, report: “Venezuelan leftist leader Hugo Chavez, who led an anti-American rally while talks for free trade were taking place.”
Just as they did last Spring, the broadcast networks, particularly ABC and NBC, have begun hyperventilating about gas prices, specifically a 30 cent price increases per gallon which they characterized as “shooting up” and “soaring.” On Saturday, NBC Nightly News anchor John Seigenthaler teased: "Pain at the Pump: Gas prices going up more than 30 cents in a month. How high will they go?" Referring to an increase in a month from $2.20 to $2.53 a gallon, he soon insisted: "Gas prices are soaring again."
ABC anchor Charles Gibson made gas prices his lead story on Monday night, teasing: “Gas prices are not just creeping up again, they're shooting up.” Reporter Dean Reynolds listed the higher prices around the nation, complete with a woman at a gas pump whining about the “ridiculous” price, before acknowledging prices are “in concert with the annual switch from winter grade to summer grade fuel” and that “unforeseen problems at refineries and pipelines, together with record demand for gasoline in January and February, have combined to push prices higher and higher." In other words, supply and demand. Nonetheless, Reynolds asserted: “All of which leads to questions about oil company profiteering."
The media adore hybrid automobiles for the gas mileage and the green factor, but changes in fuel-economy beginning in 2008 will hit hybrids hard.
“Toyota’s Prius, best-known and best-selling gas-electric car in the USA, drops to 48 miles per gallon in the city under the ’08 testing procedure, from a 60 mpg rating under the current system – a 20% decline. Its highway mileage rating falls about 12%, to 45 mpg,” USA Today reported on its front page February 23.
You can read the entire Business & Media Institute article here.
Tom Friedman is at it again. Whenever a reporter asks him how to fix the Middle East, Friedman's response is increasingly the same - increase taxes! On this morning's Today show NBC's Meredith Vieira brought on the New York Times columnist to discuss the Iraq debate on Capitol Hill. Setting up Friedman with his own premise, Viera asked: "Well you've said, 'We need to reshape the game board.' What do you mean by that?" Friedman then gave a long-winded response that eventually revealed his solution: "Oil tax." Below is the conversation as it occurred in the 7am half hour of the February 6 Today show:
Meredith Vieira: "Well you've said, 'We need to reshape the game board. What do you mean by that?'"
Hillary has let her sticky fingers show again. Will the MSM pay attention?
We're all familiar with her statement from 2004: "the tax cuts may have helped you. We're saying that for America to get back on track, we're probably going to cut that short and not give it to you. We're going to take things away from you on behalf of the common good."
Speaking today at the DNC's winter meeting, she let that same Hillary-knows-best side show:
"The other day the oil companies recorded the highest profits in the history of the world. I want to take those profits. And I want to put them into a strategic energy fund that will begin to fund alternative smart energy, alternatives and technologies that will actually begin to move us in the direction of independence.
The nation’s gross domestic product grew at a much faster than expected rate in the fourth quarter as wages increased and inflationary pressures decreased. Will the media care, or figure out a way to tie consumer enthusiasm to the Democrats taking back Congress?
Before you place your bets, let’s look at the facts as reported by Bloomberg (emphasis mine throughout):
The U.S. economy grew at a faster- than-forecast annual pace of 3.5 percent last quarter, propelled by a rebound in consumer spending as gasoline prices fell and wages grew.
The growth rate was the strongest since the first three months of 2006 and followed a 2 percent third-quarter pace, the Commerce Department reported today in Washington. A measure of inflation watched by the Federal Reserve rose at a slower pace.
Hmmm. Strong growth. Lower inflation. Strong wages. Doesn’t sound like what the media have been reporting, does it? Well, the details are even better:
On Tuesday’s "Good Morning America," co-host Diane Sawyer and reporter Jake Tapper highlighted the Democrats’ strategy to "get tough on the White House." The ABC correspondent discussed plans to begin hearings on holding the Bush administration accountable for issues such as global warming, Hurricane Katrina, Darfur, and Iraq. Tapper indicated that the President would soon be assailed from all sides. A sampling of the report’s phrasing seems to indicate approval for these hard-nosed Democrats:
Diane Sawyer: "Well, global warming. We said that the Democrats had promised to get tough on the White House. They're doing it with hearings on all fronts. But up first, global warming, and the charge that scientists who warned about global warming were muzzled by the Bush administration."
Next, Jake Tapper apparently found a phrase that he enjoyed:
Jake Tapper: "It's just one of many Democratic investigations where they hope to hold the White House's feet to any number of fires. The White House is under attack from every angle. From global warming, to the rebuilding of New Orleans, to Darfur, to Iraq."
Later in the report, he discussed hearings on Hurricane Katrina and returned to the fire analogy:
Tapper: "This week, a Senate committee went to New Orleans to hold the President's feet to the fire on Katrina recovery."
CORRECTION: An earlier post incorrectly said none of the
evening newscasts carried a mention of the falling gas prices. I apologize for
Gasoline costs nearly 20 cents less than it did the same
time last year, but the good news merited only a passing mention on the night
before President Bush’s State of the Union address. By contrast, the networks
spent more than 10 minutes combined interviewing 2008 presidential candidate
Sen. Hillary Clinton (D-N.Y.).
"The price of gasoline fell by 6 cents last week to an
average of about $2.16 a gallon nationwide – a 14-cent decline over three
weeks,” the Associated Press reported January 22. AAA's Fuelgaugereport.com,
which displays data from the Oil Price Information Service, shows similar data.
"Retail gasoline prices have fallen 17 cents from this time
last year," and the price of crude oil has also been on a downward track, "down 86 cents at $51.13 a barrel Monday on the New York Mercantile
Exchange," the AP reported.
ABC's Charles Gibson mentioned the drop in a 15-second bit
on "World News," while CBS and NBC had no time for that good news. Each
network, however, gave the junior senator considerable air time on its January
ABC anchor Gibson gave the former first lady the most face
time with 5 minutes and 9 seconds in a satellite interview on "World News." NBC’s Brian Williams and CBS’s Katie Couric gave Clinton about the same time as a full-length
news report. Clinton’s
taped sit-down with Couric lasted 2 minutes and 40 seconds, while Williams’
taped in-studio chat was 2 minutes and 20 seconds.
Another Democratic presidential candidate, another chance for ABC's George Stephanopoulos to push for higher taxes on energy. On Sunday's This Week, when just-announced candidate Bill Richardson outlined how his energy policy would be based on conservation and improved technology, listing how “it's going to take more efficient air conditioning, it's going to take green buildings, it's going to take fuel-efficient vehicles,” Stephanopoulos jumped in: “Higher gas taxes?” The Governor of New Mexico rejected the plea from Stephanopoulos: “No, you don't have to do it with taxes. You need a conservation effort that every American participates in, inspired by the President.” Stephanopoulos remained unpersuaded, proposing: “But aren't higher energy taxes the best way to get people to conserve?”
On the December 3 This Week, as recounted in my NewsBusters item, Stephanopoulos told Iowa Governor Tom Vilsack, a then just-announced Democratic candidate for President, that "just about every expert on energy says the best way to become energy independent is to raise the price of oil and gas, to have a serious energy tax. Why not call for it?" Stephanopoulos followed up by pointing to Europe as a model to emulate: "Couldn't we become independent much more quickly if we had the kind of energy tax you see in Europe?"
Some times, real surprises arrive in your e-mail, such as: Newsweek's International Edition welcomed the New Year with an article titled "Iraq's Economy Is Booming." Nobody noticed this "mother of all surprises" in America, since the article wasn't placed in front of domestic customers (it is online). Why not? Liberal, Bush-hating politics, perhaps? Despite the often-reported violence and terrorism, Newsweek's Silvia Spring asserted "there's a vibrancy at the grass roots that is invisible in most international coverage of Iraq."
Canadian columnist Neil Reynolds noticed Spring's piece in Toronto's Globe and Mail:
OTTAWA -- More than U.S. troops are surging in Iraq. As the international edition of Newsweek magazine reported at year-end, the Iraqi economy is expanding at a rapid rate: "Civil war or not," writer Silvia Spring says, "Iraq has an economy and - mother of all surprises - it's doing remarkably well." Amid anarchy and savage violence, Iraq's construction industry is booming.
Exactly two weeks after ABC anchor Charles Gibson trumpeted how video of Speaker Nancy Pelosi on the House floor holding a baby while she talked to colleagues demonstrated “the ultimate in multitasking: Taking care of the children and the country” (my NewsBusters item with video of his January 4 oozing), he celebrated how House Democrats “completed their scheduled hundred hours of work in just about 42 hours, so they can put the other 58 in the bank.” In stark contrast to how ABC's evening newscast scrutinized the Republican agenda in 1995, on Thursday's World News Gibson triumphantly listed the liberal policy accomplishments, naturally without any such ideological label, and didn't paint any as controversial or cite any criticisms of them.
“A short while ago, the Democratic-led House passed the final measure of its self-declared first one hundred hours in office,” Gibson touted as he listed how the energy bill “would encourage investment in alternative energy sources and lower oil industry subsidies.” Gibson listed how the House passed “an increase in the minimum wage to $7.25 an hour, a bill that would expand stem cell research and overturn President Bush's restrictions, a measure requiring the government to negotiate lower prescription drug prices on behalf of Medicare patients. And they agreed to cut interest rates on student loans.”
Gas prices and oil prices have been slipping lately, just not at the same rate. And that's a "real scandal" to some liberal, self-styled consumer advocates like Judy Dugan of The Foundation for Taxpayer & Consumer Rights. That's all well and good, of course, except when the media parrot the complaint and don't explain the group's biases.
That's exactly what we found from USA Today's front page treatment of sliding oil prices in its January 16 edition.
You can fill up here or read below the jump to top off the tank:
Allergies? The warm weather makes it tough on people with fall allergies? Is that really the best GMA can do when it comes to wringing its hands over the warm winter weather people in the Northeast have been enjoying?
Except for fleeting references to January bouquets and falling oil prices, GMA's segment this morning was one long whine-a-thon about the mild winter. I do mean long. GMA led with the segment and devoted over six of its precious first-half hour minutes to the subject, more than it spent on the historic takeover of Congress by the Dems.
Robin Roberts kicked things off by fretting: "Animals are not hibernating; people are still suffering from fall allergies."
ABC reporter John Berman took it from there, repeating that "the warm air is bad news for people with allergies" and bringing in a doctor to explain: "there's still plenty of mold in the air left over from the fall because it hasn't been cold enough, long enough, for that mold to go away."
The "Free Speech" segment for Friday's "Evening News" went to British auto columnist Mike Rutherford who complained that Americans don't know how "lucky" they are for the cheap petrol they put in their tanks.
“Sorry, America, but if you believe you’re paying too much for the fuel you put in your
automobiles, you’re not living in the real world,” griped Rutherford. Noting that American gasoline is priced “among the lowest on the planet,” he added that “here in England, the average price of a gallon of fuel is almost $8 in your money. And you’re complaining,” he rhetorically added before insisting Americans “don’t know how lucky” they are.
Of course luck has nothing to do with it.
The reason most Britons find fueling the lorry a pence-pinching experience is because ol' John Bull is a tax guzzler.
ABC's George Stephanopoulos has shown that he's bi-partisan when it comes to advocating tax hikes. Before the election, he lectured Republican Senate candidate Stephen Laffey: "If the deficit continued to grow, it's not responsible to say you're never going to raise taxes." On Sunday, he pushed Iowa Governor Tom Vilsack, a Democratic candidate for President, to call for higher taxes on energy. Stephanopoulos contended that "just about every expert on energy says the best way to become energy independent is to raise the price of oil and gas, to have a serious energy tax. Why not call for it?" Stephanopoulos followed up by pointing to Europe as a model to emulate: "Couldn't we become independent much more quickly if we had the kind of energy tax you see in Europe?"
Putin's Russia poses a potentially serious threat to the United States. But America lacks the moral standing to confront it. That was the view expressed by Ellen Ratner on this morning's Fox & Friends. Ratner, the short, liberal side of 'The Long & the Short of It' duo [seen here in file photo], expressed little doubt that Putin's government was behind the murder of Russian dissident Alexander Litvinenko.
Ratner: "I think that there's no question. If I were a betting woman it would be 100% Putin and Russia, it's just their operation and they have the means to do it."
She continued: "We have got to take a very good, careful look at Russia. We're in Iraq where you have sort of a ragtag group of insurgents. And we're not focusing on the Russians that have over 5,000 nukes [and other WMDs] . . . Unfortunately, we're in business with these guys, we need their oil."
That's when Ratner asserted that America's alleged moral failings limited its options:
"I don't know what we should do except that we are not in a great position because we don't have the moral standing given what we're doing in Iraq."
Okay, not really. Well, maybe it is, I don't follow the price of poultry and I'm sure the media doesn't have it that high in its pecking order either. But they do when it comes to gasoline, and it's up from two weeks ago.
The law of supply and demand be damned, it's up and it's screwing you just in time for the trip to grandma's house!
Up a whole nickel from two weeks ago! Man is that gonna gobble up your travel budget. Just ask Matt Lauer.
This past week saw The Washington Post ask a classically liberal question: Is America more racist or sexist?
Following the lead of this major paper, ABC’s Diane Sawyer asked the same question, adding a surreptitious angle. She wondered, "Is the nation, secretly, I guess, more racist or more sexist?"
The "Good Morning America" host wasn’t through, however. On Tuesday, she offered the query again. This time, Sawyer added a new spin, "secret genderism." The recipient of the question, New York Times columnist Maureen Dowd, readily agreed. America is guilty, she asserted, it just isn’t "very secret."
Speaking of The Washington Post, ever wonder how many times the paper mentioned "macaca?" According to MRC President Brent Bozell, the paper featured the phrase no less then 112 times!
MSNBC’s Keith Olbermann absurdly linked domestic terrorism to "right-wing blogs."
While Olbermann slimed conservatives, CNN labeled the current low gas prices "a recovery." Why, just a few weeks ago, the falling costs represented a link between "Big Oil" and the GOP. What a difference an election makes!
Prior to the midterms, CNN ran a number of stories on falling gas prices and a possible conspiracy between the Republican Party and "Big Oil" to lower costs before the elections. Each piece hinted at a dark plot as the reason for declining prices. Well, the elections are over; Democrats are in power, and now America is in ‘a recovery.’ Introducing a segment on Wednesday’s "American Morning," co-anchor Miles O’Brien cheerily discussed the upcoming holiday travel season:
Miles O’Brien: "A week away from your road trip over the interstate and through the malls to grandmother's house. A check of what it will cost you to fill up your sleigh now. Triple A reports the national average of unleaded gas now at $2.22 a gallon. Shoot, grandmother could live further away, or farther away, I guess. And with prices falling more people are heading back to the bigger rides.‘American Morning’s Dan Lothian joining us from Washington with more on that. Hello, Dan."
Reporter Dan Lothian’s story focused on how these low prices are allowing Americans to buy SUVs again:
Dan Lothian: "Good morning, Miles. Well, you know, over the last couple of days we've seen gas prices in some markets across the country trickling up just a little bit. But as you mention, overall the trend is going down. For some people, that means a return to old habits. After months of severe pain at the pump, call it the recovery."
In his Election Day essay on this morning's Today show, NBC's Tom Brokaw found a shaky Republican in Montana, a squishy GOP senator on the war and thought the Ted Haggard and Mark Foley stories would turn independents the Democrats' way. Running down the various issues voters face today, Brokaw did highlight some positives in the economy but then turned negative as he noted: "But there's so much wrong and a fierce debate about the road ahead. And many more think this country is headed in the wrong direction than in the right direction...Gas prices, health care, housing cost, immigration, gay marriageand the war, always the war." Brokaw then scared up three even Republicans:
Without offering any contrary views AP reports that the drop in profits for US Citgo gas stations only hurts Americans.
This half-the-story report was buttressed with a quote from Vance McSpadden, executive director of the Oklahoma Petroleum Association. McSpadden wants to stop Americans from avoiding the Citgo chain of stations -- Citgo gets their imported product from Hugo Chavez' state owned and operated Venezuelan oil companies
Over the Summer, Venezuelan president Hugo Chavez went on a world-wide tour of America's biggest enemies telling them and all who would listen how America is the Great Satan and that George Bush is the devil. His whirlwind tour of hate ended at a rostrum in the U.N. where he made himself look the fool in front of the world to the applause of rabid America haters everywhere.
"American Morning" reporter Ali Velshi insinuated on Tuesday’s show that corporations favor the GOP partly because "Republicans have kept hourly wages" low:
Ali Velshi: "All right, no big secret that Big Business favors Republicans, or has traditionally favored Republicans. But with polls showing that their friends in high places might be in some trouble leading into this election, Big Business has decided to cozy up with the Democrats. Corporate America likes Republicans. For the most part, Republicans have kept hourly wages and taxes low, and they keep their hands out of business as much as possible. Republicans like corporate America, and its hefty donations."
So, apparently, in addition to attempting to "criminalize science," Republicans also are the party of low wages? Perhaps that should be on a bumper sticker somewhere. Also, do Democrats not like their "hefty donations" from trial lawyers?
With less then two weeks to go before the midterm elections, two separate programs, on two different networks, speculated that the Republicans are colluding with big oil to lower gas prices. The "Today" show wondered if this indicated "a vast right-wing conspiracy."
Fox’s Geraldo Rivera speculated that America was seeing a case of "gas pump pimping."
Meanwhile, ABC’s "Nightline" weighed in on political commercials and lamented GOP "mudslinging." They also characterized Rush Limbaugh’s comments about Michael J. Fox as a "vicious attack." (They apparently didn’t find any mudslinging or vicious attacks done by the Democrats)
CNN had their own take on Limbaugh’s comments. They wondered: "Could it be a new low?"
Speaking of the cable network, CNN also previewed a new Bush special by noting that "many say" the President has "stretched" and "trampled" the Constitution.