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03-07-2008, 07:39 AM
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#1
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Recycles dryer sheets
Join Date: Feb 2008
Posts: 53
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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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03-07-2008, 07:43 AM
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#2
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Full time employment: Posting here.
Join Date: Jan 2008
Posts: 798
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Quote:
Originally Posted by amy5708
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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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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03-07-2008, 07:47 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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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.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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03-07-2008, 07:48 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-07-2008, 07:53 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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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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03-07-2008, 07:58 AM
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#6
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Recycles dryer sheets
Join Date: Jan 2006
Posts: 362
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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.
__________________
Fat, drunk, and stupid is no way to go through life, son.
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03-07-2008, 08:54 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by amy5708
Do you really think this channel is objective? It's almost like they try to "sell" you on investing.
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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
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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03-07-2008, 08:56 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by haha
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.
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-07-2008, 09:17 AM
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#9
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Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
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Quote:
Originally Posted by ziggy29
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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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.
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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03-07-2008, 09:22 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
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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.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
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03-07-2008, 09:42 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Quote:
Originally Posted by amy5708
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.
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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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03-07-2008, 09:43 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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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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03-07-2008, 09:53 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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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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03-07-2008, 09:57 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,713
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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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03-07-2008, 10:00 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by DblDoc
I like to turn them on when the market is having a particularly bad day to watch their "sky is falling" antics.
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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.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-07-2008, 10:04 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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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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03-07-2008, 10:06 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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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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03-07-2008, 12:25 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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03-07-2008, 12:51 PM
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#19
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Full time employment: Posting here.
Join Date: Jan 2008
Posts: 798
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Quote:
Originally Posted by ziggy29
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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I couldn't agree more!!!!!!!!!!!!!!!!!!!!!!!
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03-07-2008, 12:55 PM
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#20
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by DblDoc
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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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............
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
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