Saturday, May 16, 2009

One Man Has a Clue

Bear and Bull debate on CNBC:

The EuroPacific guy has if figured and explains his position with facts - the others spout platitudes. Take particular note of the CNBC fella getting angry about John Browne's characterization of the government's unemployment rate reporting as unrealistic and "post Clinton" and giving a real rate of 15.2%. I guess CNBC has caught a bit of the MSNBC Obama cheerleader bug. Such an intense emotional reaction to a cool reporting of facts and a logical interpretation of them is an indicator of the denial that comes from panic. The sky is falling and folks without umbrellas are trying to yell it back up.

Also of note is the chorus of chuckles and derision by the other three panelists upon taking note of Browne's "Dow at 1000" prediction. You can see the anchor taking solice in the agreement of the others. They are trying to feel right by acclaimation.

I don't watch a lot of news and zero financial "news" for obvious reasons, but things are worse in this field than I could have imagined and folks paying any mind to the drivel escaping from such programming need to be fitted for a drooling bib.

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