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If you are relying on CNBC for important news, then that is both funny and sad. Any real news trader will have a proper news service, especially if you are a Fed accouncements trader. CNBC is what is fed to the sheep (are you one of them?). You would watch it just to try to get a view on the dumb money. Plus it's ENTERTAINMENT unlike Bloomberg. Something to have in the background that will on occasion give out a good fade. And some tail to look at or stupid stories to make fun of when it's slow.
Nightly Business Report is vastly superior to the CNBC tripe, in my opinion. Maria's "feisty" persona is just getting ridiculous--endless questions about topics the interviewees know nothing about. Not too long ago, she was pressing some US Army General to predict the price of oil. She wouldn't take "I'm not actually knowledgeable about the price of oil" as an answer. On top of that, the endless sound effects, swirling special effects, zooms, screen redraws, and all the rest just to show a chart is pretty annoying. Oh, and I immediately hit the off button as soon as I hear, "It's the greatest story never told" from Kudlow. If you don't stop him at the first sign of annoyance, you'll hear it every 5 minutes before and during his show.
Hydro: I read that you play video games???? This is what you actually tell people you do.....you must deliver pizza to one of the trading floors... What a clown..... Good luck to you..... SteveD
I think I'm going to like this forum... "Oh, and I immediately hit the off button as soon as I hear, "It's the greatest story never told" from Kudlow. " ...or, you could just turn to FOX News and take the antidote, a big heaping tablespoon of The OâReilly Factor. That will bind you up for weeks. Kudlow takes a simple position, eventually the economy does better because everyone forgets to factor in inflation. Take Gold for instance in 1980's when it peaked and fell into the 300 realm where it stayed for nearly 20 years. Anyone could say stick with gold and if you had listened to me then, you would almost have doubled your money today! LOL - You could have achieved the same stunning results with a Christmas Club account over the that long of a time period. When you think of it, The Dow should be between 14,000 and 15,000 by now and that is taking the Dot Com boom/bust into account. I knew that the housing market had to slide to bring money back into the stock market but now that trend is going to be hit with the effects the declining housing market will have on employment and GDP. It is a lot more than sub-prime lending issues. Where I live in California, a lot of million dollar 3 bedroom homes are just sitting on the market. I used to see homes sell for that in 30-60 days. Now, I've seen 15 of 15 homes in my area stay on the market for 3 to 9 months. No selling, no buying. The foreclosures are going up and eventually, the prices (equity) is going to drop unless wage inflation proves otherwise, as it did in the 1970's. However, Toyota is considering dropping the average U.S. wage for something like $27.00 an hour to 23.00, and GM has already put wage cuts and layoffs on the table. Less home building will add to the unemployment numbers. More people looking for work will lower wages, too. It will take something possibly from outside the U.S. to counteract these downward pressures on the market. The BRICK countries investing in the U.S. could be a key factor. Japan invested in a lot of U.S. real estate around the 1980's when their "boomers" were peaking. It seems the Japanese market is beginning to recover for the subsequent baby boomer retirement in that country. I suspect we will see a similar scenario in the U.S. Well, maybe there is room in Kudlow's bed for Goldielocks or maybe the Big Bad wolf will huff and puff and blow his SEP in. I certainly think there are some good investment opportunities around but I wouldn't take my eye off of the other side of that hyperbolic curve the housing market made. Real estate doesn't fall like equities; so maybe the impact won't be too great. On the other hand, maybe I'll tune into CNBC next year and see the next big idea called "Flip this Box" or whatever homeless people are living out of theses days.
A good side effect of a bad bear market is it will send these clowns back to the hole where they belong. CNBC's ratings fell off the cliff during the last great bear market.
Don't discount the very legitimate fact that as the Dow reclaimed its past highs (although the Naz has not come close), the value of the US dollar plunged by about 30% to 38% against the euro, and even more against many commodities. There have been no new highs. It's all nominal, not absolute. Our markets are way off of their all time highs. Oil was, what?...$25 a barrel in 02? Copper was less than $1??? Don't get me started on steel, zinc or.....(gasp) palladium.
I guess I hit a nerve. You were trying to put down those critisizing CNBC, yet you ended up making yourself sound like the sucker. Yes I do deliver pizzas, but only to pre-screened female clients. I try to upsell by offering the big sausage specials, that's where the real money comes from.
Unfortunately, that's the only way they have to keep their channel alive these days. Ratings for CNBC went into the toilet after the meltdown in 2000 when the public grew tired of the stock market. The only way to lure back an apathetic public was to merge the financial news with entertainment. They even finish off the day by showing re-runs of The Apprentice at night. It's kind of sad, really. Bartiromo should have taken that multi-million dollar talk show deal she was offered at the height of the .com bubble and gotten out when the getting was good.