On today's "Your World with Neil Cavuto," the host devoted a portion of his mailbag segment to viewers from across the fruited plain telling Cavuto of their local media outlets had ignored or downplayed yesterday's stock market closing. Cavuto noted that in contrast, a large market correction in February was blared on the front pages of the nation's largest broadsheets.
Video (2:26): Real (1.77 MB) or Windows Media (1.50 MB), plus MP3 audio (838 kB).
You can find more coverage on the media's biases on the economy with these articles from NewsBusters sister organization, the MRC's Business & Media Institute:
- Record Dow Downplayed After Largest Gain in Nearly 4 Years
- Networks Chip Away at Dow Milestones
- CBS Calls 3-Percent Market Drop 'Disastrous'
- CBS's Couric All But Ignored Dow's Record 12,011 Close
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Ken. 93 points from..."bad news"
July 13, 2007 - 18:39 ET by Gary HallKen. Hold your horses. We're only 93 points from... more "historic bad news."
Just as with 11,000... 12,000, and 13,000, any attention given to the milestone of hitting 14,000 will surely be accompanied by predictions of, "Is this bad news for the economy?" or, "How bad will folks be hit in the wallet, when this reverses course?"
Gary...All President Bush's f
July 13, 2007 - 18:42 ET by bigtimerGary...
All President Bush's fault too don't ya know!
Bad President Bush!
bt - yup
July 13, 2007 - 18:50 ET by Gary Hallbt - yup. Did you catch my comment the other day? (;~> gh
Oh, give me a break (the second (long) comment on page 2) ?
Gary...No I didn't catch that
July 13, 2007 - 19:07 ET by bigtimerGary...
No I didn't catch that ...I am glad you posted the link and I'm glad I read it.
As usual with you and your fine posts that are always fact filled with information that people should remember...or be reminded of.
You know, when I hear these non-stop BS reports with the leftist media I see red, I don't know how blind they think we are out here, but they do count on... if they repeat it enough, as just a fact, and forget/omit intentionally the previous administrations ect...they really do take us as dumb, the problem is for me, I know, and most conservatives know, and can see right through their agenda driven propaganda...unfortuanately for us, they also know the politico's will grab on to some of their sound-bites use them in congress or television or both and go with it...without a challenge.
I am rambling on too long, but to put it politely it is past maddening what the tactics of the leftists are...and they get away with it, constantly.
Btw...I wanted to thank you for including Chechnya...I have posted about Chechnya now and then since I have been here, it is not like al Qaeda and their ilk haven't been, weren't, and still aren't involved there.
Great post indeed Gary...
C'mon Ken, what's come over y
July 13, 2007 - 18:50 ET by winston smithC'mon Ken, what's come over you? Who gives a rat's tail about the health of the national economy when you have far more important stories like filthy porn-king and Democrat party flack Larry Flynt revealing the sexual escapades of a Republican?!?
The Dow closed at a record hi
July 13, 2007 - 19:06 ET by drillanwrThe Dow closed at a record high again! Damn those filthy rich 1% and their filthy carbon footprint!
Johnnie Cochran Dow
July 13, 2007 - 20:00 ET by PawpawNIf the temp(late) don't fit, you gotta edit!! It's called the Johnnie Cochran Dow news!
Right wing stock index
July 13, 2007 - 20:28 ET by nkviking75They're practicing ignoring the Dow Jones Index in case Rupert Murdoch ends up buying Dow Jones. If that day comes, Dow Jones will instantly become a part of the VRWC and lose all credibility. </sarcasm>
I agree with the others here. A record Dow must be ignored lest someone thinks Bush did something right.
When you put the clowns in charge, don't be surprised when a circus breaks out.
The DOW has not even kept up
July 13, 2007 - 23:55 ET by M J BThe DOW has not even kept up with the rate of inflation. The DOW is not the only indicator of the economy. The $ US has lost 30% of it's buying power to the Canadian $ & even more to the Euro! Good economic news? I think not.
Thank you for mentioning th
July 14, 2007 - 14:17 ET by BlameTheMediaThank you for mentioning this. The DOW is certainly not the only economic indicator, and many other statistics can allow us to look at the economic picture as a whole. I find it odd that the DOW is up so much.... while nothing else that coincides with this is.
How is that?
Percentage wise the DOW wen
July 14, 2007 - 20:03 ET by M J BPercentage wise the DOW went up more during the Clinton years; It still proves little if anything.
Correct me if I'm wrong, but
July 14, 2007 - 20:26 ET by bunnytoesCorrect me if I'm wrong, but the DOW doesn't actually DO anything except PUBLISH financial information. I once knew a very distinguished English gentleman who would refer to it as the 'low moans average'
I believe he lost money in the crash of 29... but was to proud to admit it.
Neil Cavuto and Brit Hume a
July 14, 2007 - 00:51 ET by riff_raffNeil Cavuto and Brit Hume are the only two news guys I can stomach watching. They're both sharp and they call 'em like they see 'em. Neither one needs a teleprompter to tell them what to say, and they both usually seem to know more about a topic than the persons they interview.
Euro lag
July 14, 2007 - 03:25 ET by NortoBeliever
I wonder if the drop in $$$$ value in other countries is being controlled by some factor like margins or the like. Someone is benefitting in this deal and it is sure not the US consumer.
I for one am in CD's at 5ish% as I no longer trust the market. It has over the years continued to suck the life out of my savings. I have tried all the various "sure things" like even the 500 funds to protect my flanks. They are still not back to pre fall value, even with the big gains. There is artificiality hidden somewhere and us folks in the middle are getting eaten alive.
Was not the dow at 11,600 b 4 and now is just slipping past that all these years later?
Just googled it, 11,723 in 2000. Now only at 12,000 something SEVEN years later? Hardly good news for this ec major. Ok, 13,900 something, but the nasdaq was at 6000 something, and now rests at 2700? do some averaging there and one might now be so enthused. 5% sounds not too bad to me over the long run, except for gov't forced inflation thru gas prices and the like(taxes mostly).
Market
July 14, 2007 - 08:28 ET by Mulligan22Believer the thing you are missing here is NASDAQ was at 6000 but lost over half its value BEFORE Clinton was out of office. Now with the DOW near 14K that's somehow bad? My 401 K has done great these last few years. Sorry for your misfortune.
So tell me just how another Clinton will help the market? Specifics would be nice.
I think this has less to do
July 14, 2007 - 14:19 ET by BlameTheMediaI think this has less to do with Clinton or Bush... Just because your 401K has done well does not mean it will continue to. Something is amiss with the dow, and it's too bad no one with a clear picture can articulate what one index being so high means.
Any takers?
B,T,M; could it be that the D
July 14, 2007 - 20:12 ET by M J BB,T,M; could it be that the DOW represent the biggest & most diverse of what investments are available? I too am clutching at straws you made an excellent point. I am about to re invest some of my hard earned savings in commodities they seem safer to me. For what it's worth I think we have reached a point where we do not have enough competition to keep healthy economies. Free enterprise is nothing without competition.
I think this has less to do w
July 14, 2007 - 21:18 ET by entI'm not following you. Are you saying that the Dow is out of line with other indexes? If so, you're mistaken. Here's the YTD gain for several major indexes:
Dow 12.89%S&P 500 10.53%
NASDAQ 12.58%
Russell 2000 9.30%
Total Market 11.02%
The important thing to look at is the average price/earnings ratio of the stocks in the market. Currently, the average PE for the S&P 500 is 15.2. To put things in perspective, the average PE of the S&P 500 over the last 50 years is 17-something. The market is not overpriced.
The PE of the S&P 500 just before the bubble burst in 2000 was an absurd 43-something! A large part of the reason for the ridiculous runup of prices in the nineties was the media's relentless publishing of glowing stories about the economy (because a Democrat was in office) and their apeshit cheerleading about all of the Internet startups and the dawning of a new economy, yada yada yada. The money being made via the Internet is much greater now than it was back then but the cheerleading has stopped. After all, they can't publish anything positive when a Republican is in office.
Anyone who is not in the market right now is missing out big-time. The economy is booming. Just look at those gains, for only one half year. Don't trust the mainstream media for economic (or any kind of) news; They're liars.
Here are the gains in these indexes for the last 12 months:
Dow 31.18%
S&P 500 27.32%
NASDAQ 31.78%
Russell 2000 26.02%
Total Market 27.46%