The similarities are eerie. On Oct. 19, 1987, the day of the Black Monday stock market crash there was trouble from the Iranians, a two-term Republican president nearing the end of his term and a network TV news media voicing warnings the American economy might be doomed. Except this day in 1987, the stock market dropped 508 points.
“It’s a day that will be in bold print in history books – Black Monday, October 19th, 1987, when the stock market went into a freefall, losing more in one day than it did on Black Tuesday in 1929,” anchor Tom Brokaw said on the Oct. 19, 1987, NBC “Nightly News.” “And while conditions are much stronger now than they were then, today’s precipitous plunge struck fear in the hearts and pocketbooks of even Wall Street veterans.”
CNN even warned for the worst: “[N]ow some analysts argue that the stock market’s recent activity is heading for recession, if not depression in the 1990s,” said CNN correspondent Mark Left on the Oct. 19, 1987, CNN “PrimeNews.”
FNC's Brit Hume on Monday night picked up on a column by the San Francisco Chronicle's Debra Saunders which discredited the media spin on an AP/Ipsos poll that found liberals read one more book a year than conservatives, a finding Pat Schroeder, President of the Association of American Publishers claimed illustrated how conservatives can't think beyond slogans. The AP and CNN's Jack Cafferty both jumped on Schroeder's slam. Hume noted that Saunders “says Ipsos told her the one book difference between liberals and conservatives is within the poll's margin of error and not statistically significant. The company also said that since the poll did not ask respondents if they read newspapers or magazines, it does not, therefore, say anything about their general level of knowledge or information.”
The San Francisco Chronicle joins the bandwagon of liberal newspapers that have addressed the "achievement gap" -- the difference between majority [white] student academic achievement and that of minority [black/Latino] pupils. Right from the headline of "Children of Color Being Left Behind," readers are clearly left with the impression that there has been some purposeful scheme to "shortchange" minority students.
There was a lot of competition in the category of Rove Derangement Syndrome last week inspired by the resignation of Karl Rove from the White House. Many of the entrants in the RDS contest were chronicled by NewsBusters associate editor Noel Sheppard last Tuesday. He declared the winner in the highly competitive RDS contest to be Joe Garofoli, a staff writer for the San Francisco Chronicle. However, I respectfully beg to disagree.
However, I would like to nominate the following opening paragraph from Tuesday's San Francisco Chronicle article entitled "Pundits, Bloggers Go Wild Over Rove's Resignation" as the winner of the best example of RDS yet penned or uttered (emphasis added):