Economic Talking Heads

[JohnnySavage]

As a student of economics and someone who relies on economic news to earn my crust of bread, I watch CNBC about 14 hours a day, and have news feeds sent to my Blackberry 24/7.

If you think political talking heads are full of shit, have a look at this mornings economic news:

If consumers were to decide to spend, "that would be a game-changer," but it would be an unnatural thing to do in a recession, she said. "A lot of themes are constant, which is the US consumer and the small business doesn't have any credit, credit is still contracting," Whitney said.

Then:

U.S. imports grew for the second consecutive month to $159.6 billion, led by a $2.4 billion increase in imports of cars and car parts and a $1.7 billion increase in consumer goods such as medical drugs, toys, clothing and televisions.

The first quote is opinion, and the second one is statistics. Since they both can't be true, I'm thinking the talking head should keep the boss happy because she would never make a living as anything other than a pretty face for TV.

[busybody]

sure they BOTH could be true

[JohnnySavage]

Originally Posted by busybody

sure they BOTH could be true

Companies are importing when no one is buying?

[busybody]

Originally Posted by JohnnySavage

Companies are importing when no one is buying?

companies IMPRT what they can sell

consumers are CUTTING back..........

BUT

U.S. imports grew for the second consecutive month to $159.6 billion, led by a $2.4 billion increase in imports of cars and car parts............direct result of cash 4 clunkers, as MOST of em were foreign built...... and a $1.7 billion increase in consumer goods such as medical drugs, toys, clothing and televisions........All the products are CHEAPER than US made products, so the consumer is BUYING cheap


the second may be a consequence of the first

[busybody]

PS

who said NO ONE is buying?

MW? NO!

[JohnnySavage]

Originally Posted by busybody

companies IMPRT what they can sell

consumers are CUTTING back..........

BUT

U.S. imports grew for the second consecutive month to $159.6 billion, led by a $2.4 billion increase in imports of cars and car parts............direct result of cash 4 clunkers, as MOST of em were foreign built...... and a $1.7 billion increase in consumer goods such as medical drugs, toys, clothing and televisions........All the products are CHEAPER than US made products, so the consumer is BUYING cheap


the second may be a consequence of the first

I'm a glass half-full guy and the recession is over and there's money to be made!

[islandman]

No wonder you weren't posting when YHOO's CEO was on...

[great lover]

Originally Posted by JohnnySavage

As a student of economics and someone who relies on economic news to earn my crust of bread, I watch CNBC about 14 hours a day, and have news feeds sent to my Blackberry 24/7.

If you think political talking heads are full of shit, have a look at this mornings economic news:

If consumers were to decide to spend, "that would be a game-changer," but it would be an unnatural thing to do in a recession, she said. "A lot of themes are constant, which is the US consumer and the small business doesn't have any credit, credit is still contracting," Whitney said.

Then:

U.S. imports grew for the second consecutive month to $159.6 billion, led by a $2.4 billion increase in imports of cars and car parts and a $1.7 billion increase in consumer goods such as medical drugs, toys, clothing and televisions.

The first quote is opinion, and the second one is statistics. Since they both can't be true, I'm thinking the talking head should keep the boss happy because she would never make a living as anything other than a pretty face for TV.

Are you reading Kiplinger's Personal Finance?

There's two contradictory articles in there, one claiming bonds will provide the same kind of return as stocks and other claiming stocks are the best investment for long term.

It is a bit taxing for people with fewer braincells, such as me.

[JohnnySavage]

Originally Posted by busybody

PS

who said NO ONE is buying?

MW? NO!

Dumb Whitney said IF consumers decide to spend! She should just sit there, flip her hair every now and then, and look pretty.

[JohnnySavage]

Originally Posted by islandman

No wonder you weren't posting when YHOO's CEO was on...

He's a putz. Coulda made lots of money in the Microslut deal for shareholders.

[busybody]

Originally Posted by JohnnySavage

Dumb Whitney said IF consumers decide to spend! She should just sit there, flip her hair every now and then, and look pretty.

she used to look good

added a bit of weight and worry lines


the recession MAY be over,

or

it MAY seem that way as a result of cash 4 clunkers

have to see the numbers in 3 months out

double dip, with first move up being tepid?

PS, yes, $$$ to be made, though I havent, but you and everyone else have, good for you

IMO, mkt way ahead of fundies

and 2nd phase of the bull market is always a massive correction of the big 1st move up

PLUS

1st year of new Pres is ALWAYS great, 2nd year is ALWAYS bad

I sure dunno shit (may be the smartest thing I ever said)

[islandman]

Originally Posted by JohnnySavage

He's a putz. Coulda made lots of money in the Microslut deal for shareholders.

She, and yep, me included.

[JohnnySavage]

Originally Posted by islandman

She, and yep, me included.

She got her's though. 9 months on the job and makes a quick $2 million dumping stock.

[fgarvb1]

Ahem.

Mr. Consumer here.

Shit wears out and we have to buy more.

Sure people are cutting back, my plant is shut down this week because of almost NO orders and expect to be shut down the week of Thanksgiving holiday and Christmas too.

If business doesn't pick up maybe the whole month of January.

May have 150 or so people let go. Industry large and small is going out of business left and right around here.

Most people I talk to aren't buying very much they don't have to.

They feel things might get better...sometimes NEXT year.

But certainly not because anything Obama has said.

[TurdFergeson]

Sounds like speculation to me. Importers are betting that consumer spending will pick up, so they are increasing importing at current cheap prices hoping for some good coming profits.

Which is indeed a good sign. Take that along with the FED chairman's recent comments, and the BOGNONBR comeback...and it's nothing but further proof that the USA should never be underestimated...and we WILL have our revenge.

[trysail]

Originally Posted by JohnnySavage

... I watch CNBC about 14 hours a day, and have news feeds sent to my Blackberry 24/7....

That's your first mistake. CNBC is a source of one thing— and one thing only— NOISE.

CNBC is a platform for peddlers and snake oil salesmen. Warren Buffett once labeled Wall Street a "gigantic promotional machine." That is largely accurate and CNBC is ground zero for the carnival barkers. Wall Street's entire raison d'etre is to separate fools from their money. Paying any attention to anything ever muttered by those buffoons or Cramer or any of the chorus of noisemakers is a guarantied road to the poorhouse.

"If you've been in the game for fifteen minutes and you don't know who the patsy is— you are."

[JohnnySavage]

Originally Posted by trysail

That's your first mistake. CNBC is a source of one thing— and one thing only— NOISE.

CNBC is a platform for peddlers and snake oil salesmen. Warren Buffett once labeled Wall Street a "gigantic promotional machine." That is largely accurate and CNBC is ground zero for the carnival barkers. Wall Street's entire raison d'etre is to separate fools from their money. Paying any attention to anything ever muttered by those buffoons or Cramer or any of the chorus of noisemakers is a guarantied road to the poorhouse.

"If you've been in the game for fifteen minutes and you don't know who the patsy is— you are."

I love CNBC and look forward to turning it on each morning to catch up on the financial news. I don't pay much attention to the stocks they spotlight as those types of stocks aren't the kind I would be interested in.

For business/financial news, market data, and eye candy it can't be beat.

[vetteman]

I watch FOX Business News and switch to CNBC if Obama is hogging the face time on FOX.

[islandman]

Originally Posted by vetteman

I watch FOX Business News and switch to CNBC if Obama is hogging the face time on FOX.

Given your inability to determine whether the economy today is better than it was at the start of the year, might I suggest you turn up the volume once in a while?

[rosco rathbone]

Originally Posted by JohnnySavage

As a student of economics and someone who relies on economic news to earn my crust of bread, I watch CNBC about 14 hours a day, and have news feeds sent to my Blackberry 24/7.

If you think political talking heads are full of shit, have a look at this mornings economic news:

If consumers were to decide to spend, "that would be a game-changer," but it would be an unnatural thing to do in a recession, she said. "A lot of themes are constant, which is the US consumer and the small business doesn't have any credit, credit is still contracting," Whitney said.

Then:

U.S. imports grew for the second consecutive month to $159.6 billion, led by a $2.4 billion increase in imports of cars and car parts and a $1.7 billion increase in consumer goods such as medical drugs, toys, clothing and televisions.

The first quote is opinion, and the second one is statistics. Since they both can't be true, I'm thinking the talking head should keep the boss happy because she would never make a living as anything other than a pretty face for TV.

Have you read "Fooled BY Randomness"?

Pretty interesting.