Read "Wall Street Gang". Ney talks about manipulation of mass media and it's damn obvious CNBC is mass media. Dow and S&P are topping and they need buyers to come in so that the specialists and insiders can dump their shares and go short. It's so obvious it's hysterical. I mean I cannot believe they have the balls to claim that the recession is over when there are businesses going out of business left and right around here in NYC. Forget about finding a financial job, you cannot even get a service job. But the jobless recovery stuff is great. Hey gimme a jobfull depression anytime.
CNBC is owned by GE, and of all the publicly traded companies, they are the largest holders of public companies. Is CNBC's coverage of the markets skewed or slanted to some degree? Most likely. Neil Cavuto was fired after he took his grilling of a CEO too far (perhaps it was one of GE's holdings). I don't subscribe to the theory that they manipulate the market's in some way, but I don't believe they are 100% innocent either. BTW, someone sent me a link to the SEC's site where GE's holdings are, and the statement about GE being the number one publicly traded holder is there too. I'm looking for it. If someone finds it, please share. Brother Deadreader, whether you feel you have been victimized by CNBC, or it's just an observation...let it go. You don't need that occupying your mind.
. Well, business going out of business left, right and centre in NYC, or anywhere else in the US, is not what defines "a recession"; it's economic growth. So, as long as the economy is growing, it is not receding; therefore, no "recession".
"...the men who can manage men manage the men who can manage only things, and the men who can manage money manage all." Will & Ariel Durant, "Lessons From History". Nice signature.
Hey well then I do not want a jobless recovery and neither does any other consumer. They can take this "recovery" and shove it. Give me an all out depression full of jobs in that case. I just want a part time bartending gig at night. I thought it was common sense that job growth and economic growth go hand in hand. But if you choose to believe the BS data that economists are manipulating to paint the "recovery" picture then go ahead. Like the growing retail sales led by increased car sales. Too bad they fail to mention that it was all financed leading to more consumer debt that will not be repaid. That is not real economic growth.
I'm on the same page as Ramoutar,to say GE has something to do with optimism on cnbc is speculative at best.To ignor the correlation would be naive.Keep in mind , most of the people you see on cnbc have a vested interest in being optimistic, as do most people in the buisness media,their jobs. Thanks Mecro,I agree with you also. The unemployment claims are down 3 or 4 thousand and the optimists are having aparty.However, those approximately half million unemployed that just stopped looking because the jobs just aren't out there probably aren't that optimistic. One hundred million cars have been sold in the US in the past six years .In 2000 there was 220,000,000 registered vehicles in the US.Considering the average household has near zero disposable income, Its highly unlikely auto sales wil repeat sales figures and I would be be looking for manufactures to down size more. Remember, its human nature, in our society , to be optimistic.Quite frankly, people just dont want to hear anything negative about the economy.I've had people just turn and walk away from a economic discussion in which I proved to them that not only is real long term rally improbable ,that it may, not even be possible.
All these corporate just need to stop downsizing and maybe hire a few people. I do not know where they expect the consumer to get money from.
Manipulation is a word used only by an obvious loser. When someone says the word, you know they just lost money! Notice how it's never "manipulation" when you score that big win! That could have only been the result of your brilliant analysis and skill. Are unseen forces controlling stock prices? Sure, sometimes. So what! Just make sure you are on the same side as the manipulators.