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Bloomberg Ignores Major Stock Market Fall in Europe

Econophile's picture





 

By DoctoRx of the Daily Capitalist, on September 5th, 2011

Stock markets fell very hard in Europe today, but if even Bloomberg.com doesn’t mention it, does that mean it did not happen or does not matter?

The Stoxx 50 index was down over 5%, as was the German DAX.  Yet the “Top News” headlines on Bloomberg as I write this are, in order:

Obama Addresses Union Labor Day Rally;

Darwin Effect Cuts Photo-Voltaic Panel Prices;

 Articles on Harvard v Cambridge and how the strong NZ dollar is straining the finances of attendees at a world rugby tournament there;

An op-ed specifically addressed to Rick Perry expressing the POV that Social Security is not a Ponzi scheme;

(FINALLY)

European stocks drop on Merkel Election Loss

(Later, there is a headline announcing the Italian bank stocks plunged.  No mention that the Italian stock market indices also fell about 5%.)

This neglect of a gigantic fall in the price of corporate Europe’s assets and earnings power is a bit scary.  If there is any wonder as to why the alternative blogosphere is gaining readers by leaps and bounds, today’s Bloomberg shows why.  The mass media in the U. S. decidedly accentuates the positive.

We at The Daily Capitalist prefer to instead accentuate the facts, and then add interpretation to them. 

As we see it, the question of whether the U. S. has entered a new recession is the wrong question.  We believe that the one that officially began in 2007 never ended.  Inventory shifts, one-off government programs, random fluctuations of economic activity, mismeasurement of the inflation adjustment to measured GDP, etc., all came into play. 

I would add that increasingly this year has the smell of 1974, 1978-9, 1998, and even perhaps 2008.  Of course a great deal of what is now happening relates back to the governmental and Fed decisions of 2008, setting a bipartisan course followed by the Obama administration in 2009.  To now see the government, via the FHFA, suing the same banks it and the Fed supported so vigorously in 2008 and thereafter looks discordant.  Couldn’t there have been less support to reach the same result more rapidly and more smoothly?

In any case, the JPMorgan Chase analyst’s recent call for gold to hit $2500/ounce by year end - is, very unfortunately and quite amazingly, looking more plausible.  As is a 1.5% ten year bond yield.

 


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Wed, 09/14/2011 - 03:10 | Link to Comment chinawholesaler
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Wholesale Pen
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Tue, 09/06/2011 - 08:21 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

Move along, move along...THERE IS NOTHING TO SEE HERE......MOVE ALONG..LOL....FUCKING SUCKERS

Tue, 09/06/2011 - 10:05 | Link to Comment nowhereman
nowhereman's picture

You've been Rupert Murdoched bitches!

Tue, 09/06/2011 - 07:03 | Link to Comment TuesdayBen
TuesdayBen's picture

Obama/Bloomberg 2012

Tue, 09/06/2011 - 06:24 | Link to Comment CH1
CH1's picture

Bloomberg is a statist tool.

Tue, 09/06/2011 - 08:37 | Link to Comment Zero Govt
Zero Govt's picture

Rothchild anyone?

Tue, 09/06/2011 - 06:16 | Link to Comment working class dog
working class dog's picture

find the presidential candidate who will eliminate the ursury system, take money control back from the Federal reserves banking system, charge banks interest instead of the govt paying interest, and this will eliminate a huge cost to the economy, plus maybe just maybe the financial system parasites will do an honest days work. Until this happens you better hedge against collapse, either action will cause reset and the reset is coning.

Tue, 09/06/2011 - 04:03 | Link to Comment Motorhead
Motorhead's picture

Pretty shitty that the German DAX gets hammered a good 5% and nary an utterance on Bloomberg.  But if Margaret Brennan had the day off, they probably figured nobody was watching anyway.

Their ticker at the bottom of the screen was showing this stock market slaughter.  I hope.

Tue, 09/06/2011 - 01:47 | Link to Comment farmboy
farmboy's picture

The day the dow fell 10% in a few minutes on 16 may 2010 on bloomberg tv we had an indepth interview about george simeon the writer of "magrait":)

Tue, 09/06/2011 - 01:36 | Link to Comment the tower
the tower's picture

In Europe Bloomberg TV was showing hour-long portraits of Fashion designers and vague people like Bianca Jagger...

WTF?

Tue, 09/06/2011 - 01:26 | Link to Comment Coldfire
Coldfire's picture

Consistency is difficult. Bloomberg does occasionally commit journalism. For example its FOIA lawsuit exposing the secret Federal Reserve bailout of international banks (cf. memory hole). But it is inescapably obvious that Bloomberg has a definite agenda. Bloomberg TV's bubble-headed, SportsCenter-esque daily market colour treatment is an absurd churn-side farce. And their grotesquely overt editorializing of the news ticker would put the Reich Minister of Public Enlightenment and Propaganda to shame. Net-net, what you're looking at is an old media vertical control structure tool; a handmaiden to power. Not remarkable in itself, but incongruous with those periodic lapses into journalism.

Tue, 09/06/2011 - 01:32 | Link to Comment myne
myne's picture

Bloomberg does occasionally commit journalism.

Bahhahahahahahahahha!

Love it :D

Tue, 09/06/2011 - 02:32 | Link to Comment mr_T
mr_T's picture

Stopped reading bloomberg years ago... for those reasons...everything after the fact

Tue, 09/06/2011 - 01:25 | Link to Comment blindman
blindman's picture

http://www.youtube.com/watch?v=_ocVj6UWiDI
There's 192 Countries That Exist In The World & We Give Foreign Aid To Over 150 Of Them!" Rep Poe
.
Sunday, September 4, 2011
The Looting of America: Happy Labor Day
http://notionalvalue.blogspot.com/2011/09/looting-of-america-happy-labor...
.
when things go wrong they go real wrong,
systemic. i think we give foreign aid to countries
that don't even exist? who would know?
oh well, i'm sure it will all work out in the end.

Wed, 09/07/2011 - 19:32 | Link to Comment Pitchman
Pitchman's picture

When a rapist gets away with it he does it again and again.  Same goes for any psychopath.  Including those in power.  The true sickness is when those charged with protecting us join in and sanction it.  

Societal insanity and self destruction takes place when "the people" become observers or serve the system claiming there'is nothing they can do.  The banality of evil becomes a way of life.  Think Nazis of the 30's and 40's and Blinded jingoistic nationalist of today.

Duck And Cover: Central Banks, Bubbles And The Coming Unwind

 

Tue, 09/06/2011 - 00:24 | Link to Comment gerriek
gerriek's picture

There is one massive unmentioned, unreported bubble ponzi scheme Downunder:

Reality Bites – Wake Up Australia You’ve Been Had!

http://ozhouse.org/

 http://ozhouse.org/2011/09/05/reality-bites-–-wake-up-australia-you-been-had/

Tue, 09/06/2011 - 00:22 | Link to Comment RiskAverseAlertBlog
RiskAverseAlertBlog's picture

There's nothing "discordant" in FHFA suing banks supported in '08. Then, the assumption among lenders of last resort was internal regulation among financial firms was legitimate. In '08 this HAD to be, otherwise how would a so called "liquidity crisis" appear credible? Yet time has proven much fraud prevailed upon '08's crisis, and so now lenders of last resort, recognizing its pervasiveness, as well as the systemic insolvency risk this raises, apparently wish to mitigate losses by way of attrition a la Lehman? These are hard times for negotiating to say the least.

Mon, 09/05/2011 - 23:54 | Link to Comment topcallingtroll
topcallingtroll's picture

What has surprised me is that bloomberg has become more pro government socialist.

An editorial with a sentence saying we need an end to pure capitalism?

Advocating taxing the rich and decreasing their social security benefits to help social security ( thus changing it to a pure welfare program rather than a pension program based on contributions) and at the same time arguing it isnt a ponzi?

Advocating for huge government spending on a jobs program and more central planning?

Lots of subtle and not so subtle attacks on the tea party and the idea of limited government?

My has bloomberg changed. At least Barron's and the WSJ are still unabashedly small government and pro free market. Where does bloomberg get some of these noodle brains writing new york times style editorials?

Mon, 09/05/2011 - 23:05 | Link to Comment Bansters-in-my-...
Bansters-in-my- feces's picture

Bloomberg...

Isn't that that crappy news paper.

 

 

???

Mon, 09/05/2011 - 23:56 | Link to Comment topcallingtroll
topcallingtroll's picture

Hey bansters long time no see.

The world turned upside down when bloomberg is turning socialist. At least they had a good article on superior job growth in right to work states.

Mon, 09/05/2011 - 22:47 | Link to Comment Silver Brass Lead
Silver Brass Lead's picture

If a tree falls in the forrest, and there's no one around to hear it.....does it really......Aw fuck it.

Mon, 09/05/2011 - 22:17 | Link to Comment Zer0head
Zer0head's picture

I was watching Bloomberg EU today, even though markets open everywhere but America they were in rerun mode. I suspect they are focusing their media to American/Asian audiences.  As for the headlines, Mike Bloomberg is politically ambitious and is likely planning a major move to the national scene in this election cycle. 

Make no mistake Michael Bloomberg in a position of national power in America is the stuff of biblical prophecy.

Mon, 09/05/2011 - 22:10 | Link to Comment Ellesmere
Ellesmere's picture

Wow ...... this is going to be a once in a lifetime KILLER WEEK

Mon, 09/05/2011 - 22:03 | Link to Comment ToNYC
ToNYC's picture

 

 

Grecian Formula all around?

Hate that Grey.

Mon, 09/05/2011 - 21:28 | Link to Comment Buck Johnson
Buck Johnson's picture

Our media was told to push the positive and if not ignore any conclusion that shows the whole enchilada of the banking system burning down.

Mon, 09/05/2011 - 22:07 | Link to Comment espirit
espirit's picture

Bank run, bitchez.  Commencing in 3..2..1..

Mon, 09/05/2011 - 21:16 | Link to Comment Eric Cartman
Eric Cartman's picture

I'm going to punish Margrett Brennan with my pee pee!

Mon, 09/05/2011 - 20:33 | Link to Comment PulauHantu29
PulauHantu29's picture

Why distrub the Sheeples?

Mon, 09/05/2011 - 22:02 | Link to Comment ToNYC
ToNYC's picture

 

The sheeple need a little more time in the Green Room before their audience with the new Jim Jones.

Tue, 09/06/2011 - 09:11 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

We are followers of Jim Jones, cutting in the kool-aid line..

-NOFX

Mon, 09/05/2011 - 19:56 | Link to Comment Why Not
Why Not's picture

Jr. staff on the desk today. Avg age is 25. Clueless, but not intentional other than the dig at Perry.

Mon, 09/05/2011 - 21:29 | Link to Comment Kiss My Iceland...
Kiss My Icelandic Ass's picture

That's a stupid comment. If "junior" staff don't understand the significance of a 5pct market drop, they don't belong at BBG. No doubt it's deliberate .

Mon, 09/05/2011 - 19:54 | Link to Comment blindman
blindman's picture

"What has happened, is happening and will happen is founded in the opinions of unelected bureaucrats that control the government(s) machinery and these parasites have, are and will break every Law, every back and every common sense point of reason to fulfil their own self-agenda.

The point? This is "Economics".

In the US the FedRes carry on accordingly as they fear that they and their ilk such as the RBA in Australia and the Bank of England, indeed, all Central Banks and all Banking and Financial Institutions, are under siege and threat: They are indeed under threat but fail to see that there Economics is naught but a fraudulent front for a parasite sent from Hell..

Or, there is no "Economics" per se here unless you deem it so!

So back to "spontaneous". Indeed, for when the circumstances present themselves to the state that meet the criteria of emergence, then the EU will implode - followed by the rest of the World. Call it the Bankers' Moment. And then followed by years and perhaps decades of a demographically expressed Dark Age.

Your mileage may vary.

So let me recap as to what "Economics" really is:

Economics: A definition:
Economics is the religion of manipulation and systemic recursive scamming of productivity and everything else. It is carried out through Usury in the hands of protected and privileged Banks, defended and extended by Bureaucracy and aided and abetted by the elite political classes.
Economists, as they are so defined, merely make up the masses of the ever faithful and consensual ignorati and add their support to the crimes of Power; that Power by which they are all corrupted and blinded.
Economics is an illusion which deludes; it is the optimum tool of mass fraud and the optimality Weapon of Mass Destruction but is the proxy of the underlying predatory parasite know as Usury which is accelerated by Fractional Reserve Banking managed in collaboration by Central Bankers but driven by the body politic.

The rest is merely leverage.

Until Economics is subjected to the Maxims of Scientific scrutiny, the planet will be ruled by cyclic destruction."
http://verbewarp.blogspot.com/2011/08/delusional-economics.html

Tue, 09/06/2011 - 09:10 | Link to Comment Withdrawn Sanction
Withdrawn Sanction's picture

What a long-winded load of BS just to get people to read your blog.

Mon, 09/05/2011 - 19:47 | Link to Comment aka_ces
aka_ces's picture

The Business & World sections of Google News are also obscuring this.

Mon, 09/05/2011 - 21:43 | Link to Comment max2205
max2205's picture

Like Japan reactors

Mon, 09/05/2011 - 19:27 | Link to Comment max2205
max2205's picture

Didn't you know Mike is gonna be the obummers VP in 2012?!

Mon, 09/05/2011 - 18:59 | Link to Comment geotrader
geotrader's picture

No one hears it either.

Mon, 09/05/2011 - 18:15 | Link to Comment duckhook
duckhook's picture

As is 5000 on the Dow

Mon, 09/05/2011 - 17:55 | Link to Comment New_Meat
New_Meat's picture

Accentuate the positive, wasn't that a "Great Depression" song?

http://www.youtube.com/watch?v=Z45EB4TiYz4

- Ned

Mon, 09/05/2011 - 18:05 | Link to Comment midtowng
midtowng's picture

During the Great Depression the newspapers stopped reporting food riots, eventhough they were a weekly occurance, because they were afriad of what effect it would have on the public if they knew.

The news media, except for a short period in the 60's and 70's, has always kowtowed to the establishment.

Mon, 09/05/2011 - 18:40 | Link to Comment X.inf.capt
X.inf.capt's picture

i dont thing they reported too much on the 'bonus army' either.

Mon, 09/05/2011 - 17:55 | Link to Comment rokka
rokka's picture

If US market drops 5% on European holiday - would anybody put it in a headline?

Mon, 09/05/2011 - 17:52 | Link to Comment tony bonn
tony bonn's picture

a network whose anchors and correspondents are 80% female of average age 24 is not to be taken seriously......the orwellian press is not going to be any more truthful than pravda

Mon, 09/05/2011 - 17:39 | Link to Comment nmewn
nmewn's picture

If a bank falls in Fiat Forest, does it make a sound?

Mon, 09/05/2011 - 23:30 | Link to Comment FeralSerf
FeralSerf's picture

It "croaks".

Mon, 09/05/2011 - 19:36 | Link to Comment krispkritter
krispkritter's picture

Only if the peon/serf under it squeals...even then the Bernanke/Fed are deaf...

Mon, 09/05/2011 - 21:10 | Link to Comment nmewn
nmewn's picture

Seems to be the conventional wisdom...peons/serfs get hurt the most.

I've long held the view that we (the peons & serfs...lol) really don't need them. Nice article up now on the home page of UBS squealing about if the serfs & peons all go back to their respective corners the euro-world will end or sumpin.

Nothing could be further from the truth.

We/they will rise tomorrow with the sun and go about doing what we have always done...it is the suits who will be screwed out of profiting from our labors by merely scheming amongst themselves.

They need us. We do not need them. The people will wake up soon ;-)

Mon, 09/05/2011 - 17:31 | Link to Comment bullet357
bullet357's picture

watch for Obummer to tell the nation in his speech that we are at war and have attack Iran....the jobs & economic speech will take a backseat and be forgoten due to the start of WWIII.  False flag event coming VERY SOON.  When the Major news corps. start ignoreing normal BAD news then you know the jig is up!  Time to "HUNKER IN THE BUNKER"......Two words to live by in the coming days...Food & Ammo.

Tue, 09/06/2011 - 08:42 | Link to Comment o2sd
o2sd's picture

False flag event coming VERY SOON.

Since False Flags have been coming 'VERY SOON' for quite some time now on ZH, either 'VERY SOON' means, like, 3 years away, or it's the name of a Thai hooker that gets her flags mixed up.

 

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