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Watching MSNBC
Old 03-07-2008, 08:39 AM   #1
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Watching MSNBC

You'd think someone died.

They have been so sullen this morning; I guess finally admitting we're in a recession is tough, as they've been talking up for weeks about how we were in "the" bottom.

Do you really think this channel is objective? It's almost like they try to "sell" you on investing.

The power of advertising $ at work.
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Old 03-07-2008, 08:43 AM   #2
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Quote:
Originally Posted by amy5708 View Post
You'd think someone died.

They have been so sullen this morning; I guess finally admitting we're in a recession is tough, as they've been talking up for weeks about how we were in "the" bottom.

Do you really think this channel is objective? It's almost like they try to "sell" you on investing.

The power of advertising $ at work.
TV shows are for entertainment, they almost make me sick. They are cheerleaders and always know exactly why everything is happening.

In reality "they know nothing!" ....i.e. Cramer.
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Old 03-07-2008, 08:47 AM   #3
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The economy is bad whether it is called a 'recession' or a 'slow down'. I don't know why the talking heads get so hung up on what to call it. Just semantics IMO. But I know nothing about nothing.
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Old 03-07-2008, 08:48 AM   #4
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Finally admitting we're in a recession? They and the other financial media have been beating the recession drums since last August. It almost feels like they have been trying to take the economy down with all their doom and gloom.

They aren't selling people on investing. They're trying to increase advertising revenues through viewership, and by scaring the hell out of everyone and sensationalizing economic conditions, they can attract an audience.
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Old 03-07-2008, 08:53 AM   #5
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On my local radio show it's called "shock value".
Saying the same thing as everyone else doesn't get you viewership. It's akin to your local TV news preview telling you to tune in because "Things in your refrigerator that could possibly kill you!" is much more intriguing than "Throw away that green stuff in the back of the fridge".
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Old 03-07-2008, 08:58 AM   #6
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I enjoy the "reporters" on the floor of the exchange.I feel it takes a real pro to reach the verge of hysteria reporting that walmart sales were up or down. They have the true sense of urgency.
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Old 03-07-2008, 09:54 AM   #7
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Originally Posted by amy5708 View Post
Do you really think this channel is objective? It's almost like they try to "sell" you on investing.
I think a lot of people are intent on selling us on investing.

About 3 weeks ago I went to a seminar at my brokers which was billed as a quarterly update. The presenter had a lot of interesting charts and data to share.

But his real mission was to get us all out of money funds and CDs and invested in equities, and especially in equity funds. I don't think I have ever heard such dedicated positive spinning. Someone asked about the falling $- not to worry he said, it just comes back to us in the form of debt and equity investments by foreigners. The questioner then asked if those equity investments by foreigners were necessarily good. Sure they are!

I think this guy would have tried to put a positive spin on a dirty bomb detonating in NYC.

Ha
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Old 03-07-2008, 09:56 AM   #8
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But his real mission was to get us all out of money funds and CDs and invested in equities, and especially in equity funds. I don't think I have ever heard such dedicated positive spinning. Someone asked about the falling $- not to worry he said, it just comes back to us in the form of debt and equity investments by foreigners. The questioner then asked if those equity investments by foreigners were necessarily good. Sure they are!

I think this guy would have tried to put a positive spin on a dirty bomb detonating in NYC.
Personally, I find many permabulls and permabears quite annoying in their incessant spin and attempts to steer the market. The market should be left to do what it's going to do, without excessive pump-and-dump cheerleading from some salesmen or the constant apocalypse-mongering we're currently seeing on the financial porn shows on TV.
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Old 03-07-2008, 10:17 AM   #9
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Personally, I find many permabulls and permabears quite annoying in their incessant spin and attempts to steer the market. The market should be left to do what it's going to do, without excessive pump-and-dump cheerleading from some salesmen or the constant apocalypse-mongering we're currently seeing on the financial porn shows on TV.
The market should also be left alone by the government and its quasi-governmental appendages like the Federal Reserve. It would be much more healthy if it was allowed to seek its natural level.

That's capitalism.
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Old 03-07-2008, 10:22 AM   #10
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Step away from the TV - now!
TV viewing has been linked to depression and other maladies.
As to TV news - Think about this - how many positive stories have you ever seen? If we are going into or are in one now; do you remember the predominate stories previous to now saying the economy is good?
The media is hard wired to creating a fear so they can report it.
The media has great hindsight - don't we all?
Let's not use the general media - tv in particular - for any discussion - they are worthless.
PS - I worked in tv news and sports and have family members in it.
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Old 03-07-2008, 10:42 AM   #11
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Originally Posted by amy5708 View Post
You'd think someone died.

They have been so sullen this morning; I guess finally admitting we're in a recession is tough, as they've been talking up for weeks about how we were in "the" bottom.

Do you really think this channel is objective? It's almost like they try to "sell" you on investing. speculating.

The power of advertising $ at work.
Edited for accuracy

MSNBC and it ilk are in the entertainment business to provide an avenue for the financial industry to advertise their products.

I like to turn them on when the market is having a particularly bad day to watch their "sky is falling" antics.

DD
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Old 03-07-2008, 10:43 AM   #12
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If we want to watch tv at our house, we have to go to the basement. It only gets some basic channels so I'm not sure that this MSNBC thing you speak of would be on there.

I've heard from people on this board that the market is doing something but I haven't checked.

And, are we actually in a recession? I thought we had positive GDP in Q4 2007. We can come back in a few months and say "yep, the recession started there" but we need negative growth into H2 2008. No point watching tv if they can't even be factual...
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Old 03-07-2008, 10:53 AM   #13
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last few weeks MSNBC's sister network CNBC has reported some crazy things around 3pm on big down days and moved the market.

both are owned by GE which has a huge financial arm. for all you know they are tryingg to move the market so their traders can sell securities they don't want at higher prices
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Old 03-07-2008, 10:57 AM   #14
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yes, there are a lot of people arguing about the technical definition of a recession. Not an economist or a statistician, but I came across one comment that put GDP in prospective with population. If population rises, GDP should rise even if there is zero per capita productivity growth. If the population is up .9% but the GDP is up .6%.. .6% is a positive number, but you're still going backwards. Leaving out the whole aspect of the dollar being so far in the toilet that positive dollar figures are obviously worth less today than yesterday, and much less than the day before that.
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Old 03-07-2008, 11:00 AM   #15
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I like to turn them on when the market is having a particularly bad day to watch their "sky is falling" antics.
It would be fun to watch -- except that there are enough people who drink their Kool-Aid and start panicking, just making things worse both for themselves (by buying high and selling low) and for the economy and market overall.
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Old 03-07-2008, 11:04 AM   #16
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Just an example of ridiculous broadcasting, on Wednesday, CNBC had on two guys debating whether or not Boeing was going to file a complaint against the government for sending business overseas. The first guy must have spent at least all morning putting together a report on why Boeing won't put in a complaint. The second guy interrupted the first after listening for about a minute to say that he had spoken with execs at Boeing and a filing was in process. CNBC then cut back to the first guy who was trying to continue with his report, and the second guy again interrupted to say, "I've already told you, it's a done deal". Well finally, CNBC just cuts the first guy out of the broadcast all together after we've watched this defeated look on his face for about 30 seconds. Poor guy probably spent hours on his theory, and CNBC just dismissses him as if he were the Zapruder tape.
Anyway, just goes to show you how CNBC is just looking for time filler. It's not easy doing a 24 hour a day show. I had to laugh at the silliness of it all.
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Old 03-07-2008, 11:06 AM   #17
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One more story that cracked me up. About a week or two ago, Quincy Krosby was on CNBC when her interviewer asked her what investors should do in a market like this, Quincy's response, "Turn off your TV sets"....well you can imagine the panic on the face of the interviewer at CNBC!
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Old 03-07-2008, 01:25 PM   #18
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As if we did not know how it would end up... er I mean down.

Jobs report ends U.S. recession debate. Now what? | U.S. | Reuters
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Old 03-07-2008, 01:51 PM   #19
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Personally, I find many permabulls and permabears quite annoying in their incessant spin and attempts to steer the market. The market should be left to do what it's going to do, without excessive pump-and-dump cheerleading from some salesmen or the constant apocalypse-mongering we're currently seeing on the financial porn shows on TV.
I couldn't agree more!!!!!!!!!!!!!!!!!!!!!!!
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Old 03-07-2008, 01:55 PM   #20
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MSNBC and it ilk are in the entertainment business to provide an avenue for the financial industry to advertise their products.

I like to turn them on when the market is having a particularly bad day to watch their "sky is falling" antics.

DD
I disagree somewhat, MSNBC has caused more financial ruin than 100 Ponzi schemes.

Keep in mind all the ads Merrill and Scottrade and those guys run is to help pay for Maria's wardrobe and makeup, and the buckets of towels needed to clean up Jim Cramer spit............
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