Dow Passes 13,000

The three network morning shows, which have been mostly ignoring crimes at the Occupy Wall Street protests, hyped the "ugly" and "disturbing" "outrage" of students at the University of California, Davis campus being sprayed with pepper. Good Morning America's George Stephanopoulos interviewed the school's chancellor and repeatedly berated her about resigning. On NBC's Today, Ann Curry warned…

The Pentagon rescinded the invitation of evangelist Franklin Graham to speak at its May 6 National Day of Prayer event because of complaints about his previous comments about Islam. The Military Religious Freedom Foundation expressed its concern over Graham's involvement with the event in an April 19 letter sent to Secretary of Defense Robert Gates. MRFF's complaint about Graham, the son of…

Drinking the Kool-Aid on MSNBC wasn't enough, even for CNBC's Jim Cramer, to escape the reality that Obamanomics isn't working. Back on October 12, Cramer, to his credit, knew there were some problems with the $787-billion stimulus passed earlier this year. However, he felt it was necessary to pledge his admiration for President Barack Obama, Treasury Secretary Timothy Geithner and Federal…

You 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…

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…

While the relatively narrow Dow Jones Industrial Average has been achieving alltime highs for a couple of months, it took until last week for the broader S&P 500 index to beat its previous record of 1527. The index closed at 1536.24 last week. Instead of writing up the big winners in the 77% of companies that have brought the index back from its 2000 low, USA Today writer Matt Krantz looked…

As the stock market has continued to regularly make new highs in 2007, how many times have you heard or read a media report carping about how the rich are getting richer?Quite a bit, right?If you feel bombarded with such inanities, consider that a completely unaudited LexisNexis search of major American media outlets identified 234 reports which included phrases like “rich get richer,” “income…

The Dow Jones Industrial Average soared past the 13,000 level on Wednesday, but the CBS and ABC evening newscasts reported the good news in the media's all-too-frequent “yes, but” framework. CBS Evening News anchor Katie Couric fretted that “even as investors are making money in the market, Anthony Mason reports there are concerns tonight about the rest of the U.S. economy.” Mason talked with a…

This dovetails well with what my colleague Scott Whitlock reported on NewsBusters two days ago:ABC Graphic: "Will Dow Hit 13,000 Today? Is Unstoppable Market Good or Bad?"The graphic ran underneath co-host Diane Sawyer and GMA financial contributor Mellody Hobson’s discussion over whether or not the Dow, which has been breaking records recently, is headed for a downturn. Today the Dow Jones…