As far as Joe Kernen of CNBC's Squawk Box is concerned, the word 'virgin' and Tim Tebow are synonomous. Apparently, there can be no conversation about Tebow without bringing it up in a mocking manner for what is essentially a deliberate and faith-based decision.
In an interview with New York Jets owner Woody Johnson on Wednesday morning, the conversation transitioned from politics to football. Co-host Becky Quick asked about the backup quarterback, wondering what the future may hold for him. As complimentary as he could be, Johnson was adamant that Tebow will be on the team for at least three seasons.
That's when Kernen perked up, posing an innappropriate question for the team's boss without a second thought. [ video below the page break, MP3 audio available here ]
As NewsBusters has been reporting, since President Obama once again proposed letting the Bush tax cuts expire for the highest earning Americans, the media have been supporting it almost 24 hours a day.
Doing his part this weekend was Chris Matthews who after the introduction of the syndicated program bearing his name actually began the show, "Why is taxing the rich so hard?" (video follows with transcript and lots of commentary):
Liberal media members better learn that if they step onto a set with CNBC's Becky Quick, they better bring their "A" game when talking about business and finance or they'll end up looking foolish.
Such was the case on this weekend's "The Chris Matthews Show" when Andrew Sullivan called Wall Street a "parasite class...producing nothing" only to be forcibly corrected by Quick (video follows with transcript and commentary):
So more government isn’t the answer to all of our problems? For a brief moment, that seemed to be the message Huffington Post editor-in-chief and co-founder Arianna Huffington was conveying.
On CNBC’s Oct. 5 broadcast of “Squawk Box,” Huffington, author of “Third World America” explained what she thought the role of government should be in an American economic system. Now whether she was playing to the CNBC pro-capitalist audience or not remains to be seen, but she did depart with the so-called progressive/liberal view of government’s role in the economy, and criticized the Obama administration.
“[S]o when it comes to the Obama administration’s policies, the problem has been rewarding people for taking excessive risks, which is not at the heart of capitalism,” Huffington said. “You and I have talked about that before. At the heart of capitalism is the assumption that if you take excessive risks and you fail, you’re on your own. The taxpayer is not on the hook. And we still have left the systemic risk in the system despite the financial reform bill that was passed. ‘Too big to fail’ has not ended and that really is the potential problem in the future.”
To many, it's hardly a revelation to most, but when someone keeps taking the same action over and over again, even to his detriment, it can reveal a lot about that individual's belief system.
This was an observation CNBC "Squawk Box" host Joe Kernen made about the Obama administration's willingness to embrace a populist "soak the rich" tactic against the wealthy in the United States, even though it isn't winning him favor with the American people, according to opinion polling. A new ABC News/Washington Post poll shows more people now think President Barack Obama's policies have hurt the economy than have helped. And Kernen called the unwillingness to change course evidence of the president's ideology - proof he does believe in the redistribution of wealth.
"When push comes to shove, the left wins out with this guy," Kernen said on the Sept. 8 broadcast of "Squawk Box." "Axelrod calls the shots when push comes to shove. And this will make the case for a populist argument that these rich people - soak the rich - they do not need this and we're going to cut for the middle class and we're going to pay for it by soaking the rich. And it's right down - but it also - he said it all along, but to his critics, those critics, it's more evidence of a redistribution that when it all comes down to it, the overriding mandate of this administration - it's a redistribution of wealth."
If it were only that simple - that is the way CNBC's Rick Santelli would have it.
On CNBC's June 28 "Squawk Box," CNBC's senior economics reporter Steve Liesman vigorously defended the need for higher tax rates as a measure to cut federal deficits. Others argued that government revenues would increase if tax rates were lower because it would stimulate growth. (h/t Real Clear Politics Video)
"Let me get this straight - all you guys want to cut taxes en route to bringing down the deficit?" Liesman asked.
But according to Santelli, it has nothing to do with taxes, but the role of government in the economy.
Wow, just wow. Never would have seen this one coming, but is one of the standard-bearers of the media elite recognizing the Obama administration's anti-business populist tone is inhibiting the U.S. economy?
"It is, certainly beyond Washington," Gregory explained. "You all know it talking to business leaders every day and I do speak to business leaders quite often as well and I hear it time and time again that what you got at the administration are two problems. One, you've got nobody in the inner sanctum of the President's advisers who has ever run a business - who have never run a business. And that's a real problem. I think there's a level of recognition about that being a problem in the West Wing as well. But the rhetoric and the policy substantively, a lot of people feel, is anti-business and getting to a point where it could really discourage businesses in the United States and certainly the multinationals working here as well. That's a problem and I think that element of criticism from Joe Barton, while off the reservation substantively, got to that larger point, which is this populist string."
Maybe President Barack Obama watched a little too much of the MTV Movie Awards on Sunday night. The language seems to have rubbed off.
Paul Bedard at U.S. News and World Report caught an interesting exchange on CNBC this morning about Obama's use of "ass" in an interview with NBC's Matt Lauer. Obama asserted to Lauer that he wanted to know "whose ass to kick" over the oil spill in the Gulf.
Squawk Box co-host Becky Quick criticized President Obama for using "the A word" on the Today show, saying he set a bad example for kids.
"If you're the president of the United States and you go on the Today show, which is a morning show, where you're going to have a lot of kids who are sitting around watching this, I think you choose your words a little more carefully," Quick said.
"I think using the a-word on the Today show when you're talking to Matt Lauer, yeah, that disturbs me," Quick said.
Quick said that it's "silly" to use inappropriate language to prove that you're mad.
Is President Barack Obama really instituting "cradle-to-grave" social policies and transforming the United States into a nanny state? Well, it may not be "womb-to-tomb" yet, but he's certainly creating a welfare state for Americans beyond their mid-20s.
"I think it's more likely to be stuck," Harwood said. "Now, ultimately, the hope for Democrats, and for the president, is the actual experience with the legislation. Forget the sales job, but once elements of that kick in, especially the more popular ones, letting kids stay on their parents' insurance policies until they're 26, and preventing insurance companies from kicking people off when they hit a lifetime max - those kinds of things, they hope, will make, fuel acceptance of this legislation."
With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census.
On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli was asked how to interpret the expected improvement. He warned it isn't the kind of job creation that is good for a sustained economic recovery.
"You know, I think it's fascinating," Santelli said. "Most experts would agree, the kind of job creation we're going to see is welcome but it isn't the kind we need in the big picture. But having said that, yes, I think that the markets will act in a way that will show a robustness if the number comes in a couple of hundred thousand and I think it's kind of silly."
"Well, I'm very glad I voted for him," Buffett said. "That has not changed. I think the problems he has run into are monumental, particularly in terms of the economy. I mean - we're running huge deficits, which we should be running from a Keynesian standpoint to try and get this economy moving. But they have consequences too. I do not envy the job of being President, but I give Obama high marks."
Toyota is facing harsh scrutiny from the media and lawmakers - perhaps with justification. But there could be consequences for the U.S. economy.
And as Toyota (NYSE:TM) executives have endured two days of congressional hearings on the issues surrounding their potentially widespread defective products, the most aggressive questioners have been lawmakers from Michigan, home of the Big 3 automakers. A fact that led CNBC "Squawk Box" co-host Becky Quick to question if the federal government, with a huge stake in General Motors and Chrysler, are being a little unfair with Toyota on her Feb. 24 broadcast.
"We've heard from some congressmen, especially those later on in the show about the people and Congress people who are questioning Toyota at this point saying, they are doing this because the government has this big stake in GM?" Quick said. "To me, that seems a little crazy."
CNBC "Squawk Box" co-hosts Joe Kernen and Becky Quick get it. Unfortunately, their CNBC colleague that covers Washington, D.C. for the network doesn't.
On the Jan. 22 broadcast, Harwood appeared on the program to give a status report on the current version of health care reform being negotiated in Congress and what it means in the aftermath of Scott Brown's filibuster-proof busting election victory in Massachusetts on Jan. 20. Kernen suggested that the health care bill might have been forced through if not Brown's election and the public fervor it revealed.
"I think it's unbelievable that it would have gone through and they would have definitely jammed it through if this weird, serendipitous seat hadn't opened up and if there hadn't been a special election, 17 percent of the economy - based on what they wanted to do, based on what these elected officials wanted to do, against what the public wants - they would have just rammed it through, either way," Kernen said.
"It's 12 straight days in the [New York] Post right now," Rovell said. "Everyday since Nov. 29, there's been a Tiger Woods story. When does it end? We don't know. I'm not going to get into the details of this, but from a business standpoint - how about Donald Trump on 'Extra' yesterday?"
In an interview on CNBC's Nov. 3 "Squawk Box," following the announcement of his purchase of Burlington Northern (NYSE:BNI), Buffett was asked to comment on the future of news media, in particular newspapers and business news by "Squawk Box" co-host Becky Quick. Buffett is optimistic on the future of business news.
"Our system has just gotten started," Buffett said. "I mean, we've had a couple of hundred years of progress, but we have not exhausted our potential in this country. America's about business and business in America, you know have gone to greatness hand and hand. So, you do not need to worry about CNBC 10 or 20 or 30 years from now. Business will always be important to the American public."
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."
Question for CNBC Chief Washington Correspondent John Harwood: Where were you six-and-a-half months ago?
Harwood on CNBC's July 6 "Squawk Box" noted that the stimulus was not working quite as well as the Obama Administration had hoped - this coming in the wake of comments from Vice President Joe Biden that the economy was "misread" by the administration. The difficulty with the stimulus, he contended, was the inability of the government to spend such a large sum of money in an effective time period.
"Well, I think they're hoping that this summer period is when they can in fact ramp up the spending," Harwood said. "It's not easy to spend the amount of money that they appropriated, $800 billion, that quickly."
General Electric (NYSE:GE) is the parent company of the major media conglomerate NBC Universal, which owns media outlets NBC, MSNBC and CNBC. At times that has led to the lines between corporate advocacy and journalism being blurred.
That was certainly the case when GE's CEO Jeff Immelt appeared on CNBC's "Squawk Box" May 20 to discuss the White House meeting of President Barack Obama's 16-member Economic Recovery Advisory Board headed by former Federal Reserve chief Paul Volcker.
Immelt used his platform at CNBC to make the case for a cap-and-trade program to curb emissions - something Obama has called for and one Congressional committee is debating this week.
Since his now-famous Chicago Tea Party outburst from the floor of the Chicago Mercantile Exchange in February, CNBC's Rick Santelli had seemingly disappeared from the spotlight.
However, on CNBC's March 17 "Squawk Box," Santelli, using similar theatrics, noted that the Obama administration as been very concerned about $165 million in bonuses paid out to American International Group (AIG) executives, even though they were recipients of bailout money from the Troubled Asset Relief Program (TARP).
"Well, I mean it seems as though the administration really hit this one head on. They're not happy about it, right?" Santelli said.
In a speech on March 16, President Barack Obama called it an "outrage" and said Treasury Secretary Timothy Geithner was pursuing "legal avenues" to block the bonuses. In Santelli's view, Obama seemed to be worrying about millions, instead of the billions and trillions.
In the past when Warren Buffett has spoken out the "super rich" needing to pay a higher tax rate, the media have hung on his every word. But, now that he has spoken out against a windfall profits tax on oil, will they notice?
"I think it is very hard to have windfall taxes," Buffett said. "Steel has doubled in price. Is that a windfall for the steel producers? Sure. Corn is $7 a bushel; soybeans are at $15 a bushel. I don't think any candidate in his right mind with the number of electoral votes in farm states would say you ought to tax farms specially because they are getting a windfall."