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“Exposing & Combating Liberal Media Bias”
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Stock MarketVintage Santelli: PelosiCare Threat to Recovery; Dow Climb Due to Market Bet on Fed Response to UnemploymentA rising Dow Jones Industrial Average (DJIA) means better times are on the way, right? Not necessarily, according to CNBC CME floor reporter and tea party movement inspiration Rick Santelli. Santelli made an appearance on CNBC's Nov. 6 "Fast Money," a show which the host, Melissa Lee, is skittish about a discussion that politics interferes with the market is a reality. Nonetheless, Santelli explained there so happens to be correlation between a rise in unemployment rates and the rise in the Dow Jones Industrial Average. "[I] think we're building a stairway to heaven in Dow prices on the back of paper and I think that, you know it seems kind of dire to me that 8 percent - 8,000, 9 percent - 9,000, 10.2 - 10,000," Santelli said. "I shudder to think where the unemployment rate is going to be at 11 and 12,000 in the Dow." Bartiromo Predicts Bush Tax Cuts Extended, Worries U.S. Not on the 'Ascent'There's a lot of uncertainty with the U.S. economy and a lot of its recovery hinges on some key policy decisions due from the federal government. On CNBC's Nov. 2 "The Kudlow Report," CNBC host Maria Bartiromo discussed her interview with former Chairman of the Federal Reserve and Obama adviser Paul Volcker from the Global Financial Leadership Conference in Naples, Fla. One of the topics Bartiromo reported on from the conference was the possibility the Bush tax cuts would be allowed to expire, which she insisted is unlikely. Kudlow, Santelli: Dollar Devaluation Creating 'Façade' Bush/Obama Interventionist Economic Policies Are WorkingNow that the Obama administration is attempting to take a victory lap on the U.S. economic recovery, claiming the $787-billion stimulus passed earlier this year was what did the trick, despite a cost of $160,000 per 'stimulus' job, as ABC's Jake Tapper pointed out, it has come at the cost of the U.S. dollar. Since then, the stock market has rebounded nicely. The Dow Jones Industrial Average (DJIA) is off a March low of 6,547 points, even topping the 10,000-mark recently. But what has caused this nearly 50-percent jump? According to CNBC's Larry Kudlow - loose monetary policy by the Federal Reserve, with low interest rates, has made it possible for the markets to rise, with the 'loose' money going into the market. "The funny thing is, Steven, it has gone into stocks - I mean the stock market guys ... there's no real multiplier for the economy, right?" Kudlow said on his Oct. 30 CNBC program. "But it has gone into stocks and the stock market crowd wants to see the Fed to keep pouring the money in no matter what happens to the U.S. dollar." Cramer to Wall Street Execs to Be Hit by Obama’s Draconian Pay Restrictions: Let Them Eat Muni BondsWorried about a potential slippery slope with the Obama administration dictating what people are paid in the private sector - TARP bailout or no TARP bailout? Message from CNBC's Jim Cramer: Get over it. On CNBC's Oct. 21 "Street Signs," the "Mad Money" host ripped into Wall Street executives that objected to the government dictating the rules of compensation. Opponents argue these pay restrictions inhibit Wall Street firms ability to retain the best employees possible - an argument Cramer says doesn't matter. "Hey, there's no God-given right to work at those companies," Cramer said. "These people can go off if they want to. I know that [Citigroup Inc. Chief Executive] Vikram Pandit has kept 23 of the top 25 people with very severe pay restrictions. If you believe in your institution, you stay. See, a lot of Americans are looking at those pay cuts and thinking, ‘How do I get in on the action?' So I don't really care." CNBC’s Caruso-Cabrera Presses California AG on Publicity Stunt/Lawsuit to Bolster Gubernatorial BidWant to make a big splash to bolster your chances in a political campaign? A tried and true strategy for some attorneys general has been to champion a populist position by exploiting the legal system for publicity. Just look at the lead up to the launch of former New York AG Eliot Spitzer gubernatorial campaign with his attacks on Wall Street. And that appears to be the playbook California Attorney General Jerry Brown is using in a lawsuit accusing State Street (NYSE:STT) of cheating the state's two largest pension funds, the California Public Employees' Retirement System and the California State Teachers' Retirement System, of at least $56.6 million. However, CNBC's Michele Caruso-Cabrera wasn't afraid to ask Brown if that was indeed the case in an Oct. 20 interview on CNBC's "Power Lunch." Broadcast Nets Celebrate Dow 10,000 with Calls to Restrict Wall Street BonusesYou might think that the three major networks would look favorably upon the Dow Jones Industrial Average (DJIA) breaking through the symbolic 10,000 mark. After all, it they could use it as an opportunity to spin the news as a victory for Barack Obama and his economic policies. But that wasn't the case. Instead ABC, CBS and NBC used the occasion to point out that the rich on Wall Street are getting bonuses for the performance of the stock market, while others across the country are suffering. "Now, if an economic recovery is under way, not everyone is sharing in it equally," "CBS Evening News" anchor Katie Couric said. "Pick up today's Wall Street Journal and you'll read banks and securities firms are on track to pay their employees record amounts this year. And, you pick up The New York Times and you'll see some workers are being forced to take huge pay cuts." Cavuto: Since Obama Blames Bush for Economy, Does Bush Get Credit for Dow 10K?How many times have we heard President Barack Obama or high-ranking members of his administration lament the fact that the president "inherited" a recession? Quite a few, if anyone is keeping track. Now the Dow Jones Industrial Average (DJIA) has broken through the 10,000-point barrier. But that begs the question given the inevitable credit Obama will get from the media and other supporters for this rally, should former President George W. Bush get some of the credit if Obama is so willing to blame him for the collapse? It's a question Neil Cavuto put to the test on his Oct. 14 Fox News "Your World" program speaking to Macro Portfolio Advisors Vice President Jim Lacamp. Daily Beast's Blumenthal Catches Ratigan Flu, Shouts Down Scarborough on 'Morning Joe' It isn't often that one can see two decades of history re-written in under ten minutes. But such was the occasion on this morning's episode of Morning Joe. Max Blumenthal, author of "Republican Gomorrah: Inside the Movement that Shattered the Party," spent his time on the show demonstrating the combined power of cognitive dissonance, wanton ignorance, and a willingness to re-write historical fact.
Let's take it in chronological order, shall we? First, Blumenthal is asked to present the major thesis of his book: Michael Moore: Foreclosed Homeowners Like Rape Victims?No, that's not a made-up headline. The foreclosed and/or evicted homeowners that have played such a role in the current economic meltdown - are they irresponsible borrowers that lived beyond their means or are victims that got swindled? Michael Moore is clear on where he thinks they fall. Moore matched up with Fox News and conservative talk radio host Sean Hannity on Hannity's Oct. 6 program and Hannity attempted to have Moore explain why he didn't think there was a personal responsibility angle to the home foreclosure crisis. Here's how it unfolded (emphasis added): HANNITY: If you put your name on the dotted line in a legal document, don't you bear responsibility? CNBC's Cramer: Blame Congress for Obama's Diminishing Popularity
Since inauguration, President Barack Obama has seen his approval ratings fall by almost every poll and that's historically a normal reaction as the newness wears off a new president. During his Sept. 30 "Stop Trading" segment on CNBC's "Street Signs," Cramer pointed out that although the prospects of Obama's ideal health care reform package passing are doubtful, health insurance providers are facing fallout from a publicity campaign meant by the administration to push through health insurance reform. That gives the administration a new villain. Video below fold Kooky Ignorance: Michael Moore Claims Wall Street Wants Intentionally High UnemploymentIf any policy maker watches Michael Moore's new movie, "Capitalism: A Love Story" and is influenced by it - be afraid, be very afraid. Moore appeared on CNN's Sept. 23 "Larry King Live" to promote his movie, but he shared with host Larry King his thoughts on why the stock market has rallied off its lows, despite a rising unemployment. His reasoning - Wall Street likes joblessness, because it's more for them. Moore outright told King Wall Street wants people unemployed. "It's crazy, isn't it?" Moore said. "I'll tell you why: Because your employees are your biggest expense. And, as you've noticed in the last few months, as the unemployment rate has gone up, so has the Dow Jones. Now, you'd think, you know - that Wall Street would respond with, ‘Oh my God, unemployment is going up, you know, this is bad for business.' But the reality is, is that Wall Street likes that. They like it when companies fire people because immediately the bottom line is going to show a larger profit." Media Embrace Millionaire Moore's Vendetta Against Capitalism, Leave Out CriticsMillionaire Michael Moore says capitalism is evil and that the entire system should be thrown out for one that is "democratic" and "fair." That's the overarching message of Moore's new documentary, "Capitalism: A Love Story," which will be widely released Oct. 2. The film won two prizes at the Venice Film Festival and was lauded by critics there and at the Toronto Film Festival. Now Moore is being warmly greeting in softball interviews by television anchors and reporters - particularly on ABC. ABC's "Nightline" ran an 8-minute long segment Sept. 22 interviewing Moore and showing clips of his film, an it received an additional five minutes on "Good Morning America" Sept. 23. ABC didn't include a single critic of Moore in those 13 minutes, and neither segment rebuked Moore for past lies in his movies. The film has generated uncritical buzz among many other news outlets including MSNBC, The New York Times, Associated Press and "The Jay Leno Show." He is also scheduled to be a guest of "Larry King Live," "The Situation Room," and "The View" Sept. 23 and 24. Four networks, a wire service and three out of five major newspapers will have covered the movie in the span of a week. ABC Raves Over Michael Moore’s ‘Deeply Christian’ New Movie; Lauds ‘American Populist’In less than 24 hours, ABC devoted 13 minutes to rhapsodizing over liberal Michael Moore’s new, "deeply Christian" film, Capitalism: A Love Story. Featuring the director first on Tuesday’s Nightline, co-anchor Terry Moran took his socialistic agenda seriously and opened the show by teasing, "Is capitalism evil?" (In 2007, the network contributed 21 minutes to Sicko, totaling 34 minutes of promotion for the two films.) On Wednesday’s Good Morning America, co-host Chris Cuomo cooed, "Many critics are calling the documentary Moore's best ever." He also raved, "You demonstrate the [capitalism] question very well in the new movie. And you do it lots of different ways. People will get where you’re coming from." On Nightline, Moran offered a few tough questions to the filmmaker, but made no effort to hide his admiration. He extolled, "He's an American populist in the grand tradition, a provocateur, a comic, a rhetorical bomb thrower." The ABC host marveled that Moore hates capitalism "with a savagely funny...and surprisingly religious passion." USB's Cashin: Market Conditions 'Reminiscent' of Lead Up to 1987 CrashThe Dow Jones Industrial Average (DJIA) has climbed nearly 45 percent since hitting a March 9 low. The S&P 500 (S&P) is up nearly 53 percent. And the NASDAQ (NASDAQ) has soared a whopping 61 percent since the March bottom. But that rally has some analysts shaking their heads. Art Cashin, a CNBC regular who also makes frequent appearances on CBS and NBC news programs to offer insight on the financial markets, was skeptical. He told CNBC's "Squawk Box" on Sept. 11 he got some of his money out of the market and got burnt, but is still scratching his head over the rally. "Away from that, I'm still somewhat skeptical about this," Cashin said. "I've been wrong, got out too early, certainly. I took some money off the table as I told you, about a week and a half, two weeks ago. Didn't take it all off, um, may take some more off if they keep going." CNBC’s Cramer: Spiraling National Debt to Cause Bear Market in 18 MonthsSince hitting their lows back in March, financial markets have rallied in the wake of last year's financial crisis. The Dow Jones Industrial Average (DJIA) is up 43 percent since March 9. But can it last? It could be all given up with this rate of government spending according to CNBC "Mad Money" host Jim Cramer. Cramer, responding to a viewer e-mail on his Sept.8 program, explained what a higher national debt would mean to the average citizen and investors in the near and long term. He said expect the market to go down and higher taxes eventually. "I know that this is going to mean our taxes are going to go way up," Cramer said. "I have to tell you this eventually means this market will come down. It is in when what I call the out years, not to worry about it yet." Matthews: Obama Not Getting Enough Love for Economic 'Comeback'Try to keep a straight face when you hear this: President Barack Obama isn't getting enough media love. That's the world view of MSNBC "Hardball" host Chris Matthews - at least when it comes to the economy. According to Matthews, there has been a plethora of positive economic news - from a stock market that has shrugged off the threat of bad liberal policy, i.e. cap-and-trade or ObamaCare, to the actions of newly reappointed Federal Reserve Chairman Ben Bernanke of pumping liquidity into the economy. "What do you make of this whole thing about the good economic news out there the president gets no credit for?" Matthews said on his Aug. 25 show. "I'm in the stock market. I have suffered like others before and I have seen this comeback - back up to almost 10,000 now. He gets nothing for this. The fact that consumer confidence, which was once closer to the bone, is way up. The fact that the Fed chair has done such a good job in pumping up the money supply and pumping back the economy, and averting a Great Depression - no credit." CNBC Analyst Wary of Health Care Stocks; Knocks Obama's 'Hand-Picked Audience'As the likelihood of President Barack Obama's style of health care/health insurance reform has looked more and more uncertain, health care sector stocks have rallied, nearly 10 percent over the last month. But now as Obama is showing some signs of managing his message and could be trying to make a comeback, even as polls show the odds aren't his favor, CNBC market analyst Steve Grasso is cautioning viewers to be wary of health care stocks for the time being. "You know, one of my picks has been health care," Grasso said. "I'm a little shaky on it the longer this process goes on, I think the more we have to look at it. I mean, I caught a glimpse of President Obama speaking today. If they're clapping, that was a hand-picked audience. I have yet to find anyone who likes the plan. So I think health care is on waivers for me at this point." Stratfor's Friedman: 'Probability of Bernanke Being Reappointed to the Fed is Near Zero'Ben Bernanke's able use of monetary policy to steer the economy during the current financial crisis sometimes makes it easy to forget that Bernanke helped steer the ship into that crisis early in his term as Federal Reserve Chairman and a member of the Fed's Board of Governors. That's a point Strategic Forecasting (Stratfor) founder and CEO George Friedman made when asked the likelihood of President Obama reappointing Bernanke. "The probability of Bernanke being reappointed to the Fed is near zero," Friedman said during an interview on CNBC's Aug. 11 "Squawk Box." "Bernanke presided over the events leading up to the greatest financial crisis we've seen in quite a while," Friedman told CNBC's Steve Liesman. "The best that can be said is that he didn't make it any worse than he already made it. The president is not going to be wanting to reappoint the man that most of the country regards as responsible for the problem." CNBC Host Blames 'Overpaying' Howard Stern for XM Sirius WoesTimes have been tough financially for media companies across the board and satellite radio has been no exception. On Aug. 6, Sirius XM Radio (NASDAQ:SIRI) posted a second-quarter loss and the company hasn't lived up to expectations after Sirius and XM completed a merger a little over a year ago. According to "CNBC Reports" host Dennis Kneale, part of the satellite radio's problem is shock jock Howard Stern's compensation and the company's debt. "I feel so, bad - there's, being run by one of what I think is the best executives in media, Mel Karmazin, a great salesman," Kneale said on CNBC's Aug. 6 "Power Lunch." "But in the end, does it turn out they just overpaid for Howard Stern and they have too much debt? I wonder if John Malone bailed them out temporarily hoping that they kind of go belly-up so they can get a hold of those assets really cheap." CNBC Guest Host Explains How TARP is Driving Up Oil PricesChalk another one up to the law of unintended consequences. Last fall, the media promoted the $700-billion TARP bailout. During the weeks and months leading up to that bailout, they were also on board with cracking down on oil speculators for driving up the price of oil. But now it seems the TARP program is contributing to oil speculation. On Aug. 3, Richard Bernstein, CEO of Richard Bernstein Capital Management and CNBC contributor, told "Squawk Box" viewers: "One has to wonder how much TARP money has gone into bank balance sheets to speculate on commodities, right? Because the amount that's - the amount of speculation in commodities on bank balance sheets is much larger than what you get from the CFTC." |
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