This page has been archived and commenting is disabled.
Breaking News from Broken Media Outlets???
- advertisements -
Contact Information:
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Suggested Reading:
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
It would be very wise of you to study our disclaimer, our privacy policy and our (non)policy on conflicts / full disclosure. Here's our Cookie Policy.
Hey Reggie, what happened to your MAC valuations post?
Smart money is using any bad news to collect more shares at cheap prices. 5 years from now we will all look back and say wish we had ignored them all and bought more stocks every time they came out.
admin
http://invetrics.com
CALL AND EMAIL YOUR SENATORS TELLING THEM TO NOT APPOINT BEN "THE BANKSTER" BERNANKE. THIS IS MORE POWERFUL THAN VOTING. VOTING JUST DECIDES WHICH STOOGE YOU NEED TO TELL HOW TO VOTE. THE ONLY THING THAT MATTERS TO WASHINGTON MORE THAN MONEY IS VOTERS. IF WE GET A SWELLING OF PRESSURE THEY WILL NOT CONFIRM BECAUSE THEY KNOW GETTING RE-ELECTED IN THE NEW NORMAL IS GOING TO BE A BITCH TO PUT IT LIGHTLY!
CNBS today in an interview with Domino's head,
"how does your company feel about the health care bill?"
trying for their usual Obama spin, are you for us or agin us?
Are you drinking out of it, or pouring into it?
Only a moron could talk recovery and use that terminology. What is 170K times 12? I think it is 2 million, meaning there are 4 million new unemployeds in a year counting labor force additions.
How can they just spew nonsense when their facts can be checked albeit late, with sales tax figures.
The recent State of Nevada release does not reflect the reporting. Granted it's only 1/50th of the equation but still...
http://rgj.com/article/20091202/BIZ/912020418
I was recently in government offices that had TV monitors on every elevator and every floor. Guess what station they were tuned to --- Fox News!!!
To be fair, the building is not owned by the government, but it is the location for the local Secret Service, EEOC, FBI and several other goobermint agencies. May as well be their building.
New Presidential decree: All TVs in buildings housing goobermint offices MUST be tuned to CNBC. hahaha
There's no question that CNBC spins the news. But I suspect that it's simply for self-interested reasons, as opposed to any sort of mandate from up high.
CNBC is the outlet for the common man who's involved in the market. Sure, trading floors often have CNBC on, but they have access to many other outlets like Bloomberg as well. If you're Joe Sixpack with $10,000 in the market, CNBC may be your only tv outlet on finance.
Even if they're not 100% of the audience, CNBC relies on those viewers. To keep them, the viewers must continue to believe that they have a chance at making money, or else they're going to lose interest. So it behooves them to play up every development, particularly right now.
I think this analysis is true of the entire network, but especially of Cramer. If his audience knew that they don't stand a chance over the next 5 years, he'd be off the air.
Ding Ding Ding.....we have a winner.
The high paced superbowlish atmosphere created when they broadcast from the trading floor (ya know, where the action is) is especially cute. Not to mention, the banter on "Fast Money" after the market closes each day - I swear it continues to be totally analagous to a SNL skit, albeit by only a few.
Reggie you and I tend to look at things and say, "that glass is half empty". Steve Liesman was talking this story up as you describe. He always looks at things and says "that thing is half full."
My guess is Steve is a smart guy and he knows that when he is saying this stuff he is just spinning the news. At least I hope so for his sake.
You see, being the analytical nerd that I am, I tend to say "The glass has 50% water, and 50% air, with water tending to be heavier than the air it has gravitated towards the bottom of the glass..."
When it comes to experts on air, there is nothing more credible than stating exactly what is there, and then if deemed necessary, adding your opinion.
These days, there is practically no vigorous factual investigation in the mainstream media, simply an exposition of opinion.
Forget about factual investigation, lets just begin by reporting fact...rather than fiction...the investigation can be done by the reader...
"When it comes to experts on air, there is nothing more credible than stating exactly what is there, and then if deemed necessary, adding your opinion."
And as always plugging their website for the millionth timez.
Very true. Also simply amazing that anybody could to put a positive spin on 169K people losing their jobs. There is no good news there.
Now they have enough time to stumble upon ZH. "What...the...hell..."
Unite!
I'm kind of like you Bruce in that I'm a bit "older" (mid fifties) and live in NY and have been in the financial services sector my entire life (laid off in april 2008 and i may or may not go back to work).
i used to view things in the business world and in the usa as half full, was always that kind of person and not pollyannish by any means.
frankly, i think the glass is one quarter full and there is a crack in the bottom. i am sad and disappointed to think this let along say it. I sincerely hope that I am wrong.
LOL!
Sorry to hear of your predicament, DeadHead. Just to inject a little humor, this came to me the other day, no attribution:
The government would say that the glass is fuller than if the opposition party were in power.
The opposition would say that it is irrelevant because the present administration has changed the way such volume statistics are collected.
The philosopher would say that, if the glass was in the forest and no one was there to see it, would it be half anything?
The economist would say that, in real terms, the glass is 25% fuller than at the same time last year.
The banker would say that the glass has just under 50% of its net worth in liquid assets.
The psychiatrist would ask, "What did your mother say about the glass?"
The physicist would say that the volume of this cylinder is divided into two equal parts; one a colorless, odorless liquid, the other a colorless, odorless gas. Thus the cylinder is neither full nor empty. Rather, each half of the cylinder is full, one with a gas, one with a liquid.
The seasoned drinker would say that the glass doesn''t have enough ice in it.
Perhaps very little humor for someone without a glass, eh?
The realtor would say "It has water views and now's a great time to buy."
The investment banker would say, if you don't fill my glass now, I will close down every bar.
The (government) Union would say, all the liquid in the glass is ours. Senior creditors be damned.
That would be the last straw! ...and that is about where we are.
Thanks for a nice addition to the list.
Here's a thought experiment:
Door #1: More Shoppers, average spending up; Bubblevision Headline: Thanksgiving Sales Rise signalling recovery
Door #2: Less Shoppers, average spending up; Bubblevision Headline: Thanksgiving Sales signal pent-up demand
Door #3: More shoppers, average spending down; Bubblevision Headline: Thanksgiving Sales rise as expected
Door #4: Less shoppers, average spending down; Bubblevision Headline: Thanksgiving Sales suggest shoppers waiting for bargains, forecast of increasing traffic
If quantum theory is correct there exists a reality where Bubblevision focuses on the fact that this year's reporting is eerily similar to 2008 Black Friday's commentary and that since there is one more shopping day this holiday season, if we're flat year over year we are actually down.
Thank you, thank you, and welcome to "You Bet Your Life." Say the secret word...uh...pablum narrative... and a swan will come down and debase your standard of living.
http://anonymousmonetarist.blogspot.com/2009/12/todays-secret-word-uh-pablum-narrative.html
That reminds me of an old joke from Soviet times:
The US and the Russians have a basketball match; the US wins.
Report in the Pravda:
The glorious Russian Basketball team played the capitalist pigs from the USA.
Our heroes ranked second while the damned capitalists ranked immediately before the hindmost.
When it comes to leadership in Washington on financial services policy, JPMorgan and Goldman Sachs have the floor to themselves and no one speaks for the public interest - not Ben Bernanke, not even the President. If Barrack Obama had the courage to resolve AIG and Citigroup using the fire of bankruptcy and liquidation to restore function to the financial markets, the economy would truly be on the mend, but most of the major banks would have new managers, directors and shareholders today. And we would no doubt also have a new Fed chairman whose term in office would have been confirmed by the Senate last year.
The bankers counsel extend and pretend; buy time and all will be well. And most bank regulators led by Ben Bernanke are now fully behind the banksters in terms of forbearance on bad loans and insolvent companies, further pushing out the arrival of a true economic rebound. Forebear on bad loans and keep printing money, say Bernanke and the banksters, and the economy eventually will come back. But indications are that just the opposite is occurring, namely deflation, falling revenue and rising unemployment, the direct result of zombie banks that cannot lend and managers who will not sell bad assets for fear of losing their employment.
The policy of extend and pretend championed by Ben Bernanke is a recipe for a lost decade a la the 1990s, only far worse. Whether you talk about bank loans or trade credit or vendor finance, there is none and the real economy is starving to death as a result. Chairman Bernanke and the banksters say that the way out of the crisis is slow healing, muddle along and let time salve the wounds that the large banks inflicted on us all. Using the tough medicine of restructuring and management change would help revive lending and the real economy sooner, but that would be inconvenient for the captains of the New York banks, who plan of playing record bonuses this winter as millions of Americans are without work.
http://us1.institutionalriskanalytics.com/pub/IRAMain.asp
More to the point is why the hell should these bastards be able to foist off all their losses on the public, keeping the money the skimmed all along the way and then be recapitalized by the public to do the same fucking thing all over.
Why should these LOSERS be allowed to make incredible personal fortunes while the firms they work for are BANKRUPT.
These guys are LOSERS, they cannot and do not trade, they lever up, make tiny incremental gains x the leverage, skim for the bonus pool and then blow the fuck up every time there's a black swan, then they call the government for a bailout.
I get tired of hearing how Goldman Sachs is so smart for instance, they went BANKRUPT last year because they bought CDS swaps from AIG who they probably thought they were screwing and who they also probably thought were real fucking dumb for selling them the swaps in the first place...... but guess what......AIG had no ability and possibly no intentions of ever paying them!!!
The sharpies were bankrupted by the very pigeons they thought they were fleecing.
They are only in business because their man at the treasury committed a fraud against the public.
SO HOW FUCKING SMART IS THAT!!!
ABSO-Fucking-lutely right!
The only way they get away with it is because none of us have the guts to do what Marla says we can't say we would do to them if we could be allowed to say it, and do it with impunity.