Dow 14,000 - Liberal Media Reports Doom and Gloom

Discussion in 'Economy' started by red states rule, Jul 20, 2007.

  1. red states rule
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    red states rule Senior Member

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    It took the Dow three months to go from 13.000 to 14,000

    Yet, the liberal media was all doom and gloom last night as they "reported" the story



    Dow at 14,000; ABC: 'Good Deal of Worrisome Economic News These Days'
    By Brent Baker | July 19, 2007 - 20:58 ET
    Repeating the downbeat spin employed when the Dow Jones Industrials passed 13,000 in late April and ABC's reporter warned “we're actually overdue for a correction,” less than three months later when the Dow closed over 14,000, ABC's World News put the news into a “yes, but” framework. Fill-anchor Elizabeth Vargas on Thursday night led with the record high close, but fretted that “there's a good deal of worrisome economic news these days -- from sky-high gas prices to America's gaping trade deficit” and “yet,” she marveled, “the market keeps marching on.” Reporter John Berman began by emphasizing that though “the Dow went from 13 to 14,000 in just 3 months,” this occurred “despite those serious jitters about the U.S. economy: $3 gas, a major housing slump -- a drag on the U.S. economy.” Crediting the rise to overseas earnings, Berman pointed out that “while the economy in the U.S. is struggling along in a growth rate of less than one percent, it's racing ahead at nearly 11 percent in China with strong numbers in India, Russia and Brazil as well.” Vargas followed up on a gloomy note, raising “disappointing earnings reports from Google,” prompting Berman to predict: “It may mean that the mood tomorrow won't be quite so rosy.”

    Thursday's CBS Evening News wasn't as negative as it was back in April, but in his generally upbeat piece Anthony Mason contrasted the American economy with the international scene: “The U.S. economy doesn't look nearly as strong. Retailers just had their worst month in nearly two years. Gas prices are rising. And house prices are falling.”

    The Wednesday, April 25 NewsBusters item, “Dow Soars to Record 13,000 Point Level, But...CBS and ABC Stress the Negative,” recounted CBS's take that night:


    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 celebrating stock trader before turning downbeat: "But Wall Street and Main Street appear to be headed in different directions. While the stock market's been racing ahead, the economy has been slowing down. Housing is mired in a slump." Liz Ann Sonders of Charles Schwab confirmed bad news for the overall economy, citing how "we have seen economic growth get cut in about half in the last year, so clearly the economy is not as strong as it was a year ago." Mason ominously warned: "Rising gas prices, up 70 cents already this year, could slow the economy even more."

    The NB posting also relayed ABC's negative spin:


    ABC anchor Charles Gibson teased World News: "Tonight, the Dow moves into uncharted territory, zooming past 13,000 for the first time. But is the economy as hot as the market?" Gibson set up his lead story by contrasting how "the rise in recent months has been steep, despite less-than-inspiring news on the economy overall." Betsy Stark featured pleased investors before cautioning how "there were fresh signs today of trouble in the housing market" and "oil prices shot up another dollar today, which will only add to consumers' woes at the pump." Gibson stayed on the negative, proposing to Stark: "We've had four years of a straight bull market. Doesn't just the timing of this suggest that there might be a correction?" Stark agreed: "By historical standards, Charlie, we're actually overdue for a correction."

    http://newsbusters.org/blogs/dow-14000-abc-theres-good-deal-worrisome-economic-news-these-days.html
     
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  2. red states rule
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    red states rule Senior Member

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    We have now removed ALL doubts as to the affects of tax cuts. They have spurred one of the greatest economic runs in history!
     
  3. Delbert
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    Delbert Rookie

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    RSR,....you libs crack me up:lol:
     
  4. red states rule
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    red states rule Senior Member

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    Tax cuts work everytime - and it bugs the hell of liberals
     
  5. JeffWartman
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    JeffWartman Senior Member

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    The Dow is down, when measured with real value.
     
  6. JeffWartman
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    JeffWartman Senior Member

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    Every single person who is educated in Economics disagrees with you.
     
  7. ReillyT
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    ReillyT Senior Member

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    I really love RSR and his posts. It is so refreshing to find someone who is so sure in their beliefs that they absolutely refuse to be blinded by the cruel light of reason.
     
  8. Bern80
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    Bern80 Gold Member

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    The DOW and the economy as a whole are not all that correlary. The DOW is one indicator of how the economy is going and essentially reflects peoples confidence in it. And despite the perported bad news investors are still confident which is why stock prices are be driven up.

    I can't say i now a ton about the houseing market as an economic indicator. What i do know is that to say "a major houseing slump" is a bit disingenuous. What is more accurate is that there is a slump for sellers because they're asking more then what their properties are worth and thus can't sell them. That was my experience into my brief fore into home shopping. Very soon, if not already, the houseing market is going to be a buyers market. At some point the houseing market is always going well for someone.

    The question as far as the stories were concerned is why the media feels an overwhelming need to rain on the parade. I am one of those believers in the liberal bias of our media and that they really do need to find some negative in every positive thing that happens during this administration.
     
  9. BaronVonBigmeat
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    BaronVonBigmeat Senior Member

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    Eh, going from 13k to 14k in three months is...okay, I guess. But we really could be doing better. Take Zimbabwe, for instance:

    [​IMG]

    Hopefully the administration is taking notes from Zimbabwe's playbook, so we'll see spectacular gains like this in the future.
     
  10. red states rule
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    red states rule Senior Member

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    To bad history goes against them - and you
     

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