—Jim Cramer
Many stock market fans will recall this line from Jim Cramer's "rant heard round the world" on CNBC-TV in the spring of 2008. He was specifically decrying how the Federal Reserve, and the Federal government for that matter, seemed oblivious to:
- the blatant manipulation of the market via illegal short-selling strategies of hedge funds and other miscreants; and
- the need for immediate government intervention in the markets to head off an epic financial crisis
Today it's today's financial journalists who "know nothing." Aside from deadline-driven bad reporting ("the market was down today because Ben Bernanke forgot to use a comma at a crucial point in his report"), the financial media never connect the dots.
Case in point. On CNBC online this morning, we get a lot of palaver about persistently bad unemployment numbers just out. The uncredited writers' conclusion:
The data, coming in the wake of a report last week showing a surprise drop in non-farm payrolls in December, could add to worries that the economic expansion that started in the third quarter of 2008 could falter once government stimulus ends.
Stubbornly high unemployment remains the weakest link in the recovery from the worst economic downturn since the 1930s.Case in point. But the piece never connects the dots. Why? Either political ideology or, more likely, just plain ignorance.
"Stubbornly high" unemployment will stay that way as long as the Obama Administration and our current Marxist Congress dither with gigantic, expensive distractions like cap-and-trade, the Great Healthcare Pork Barrel, and punishments (i.e., big taxes) for only recently rescued banks and for their (almost certainly overpaid) high end employees. The problem here is getting people back to work. Aside from the "stimulus bill" (really a big payoff to public employee unions), no attention whatever has been paid to boosting small businesses and getting them back in hiring mode. As long as the financial media fail to put this issue front and center, the crucial unemployment problem will either persist or grow worse. Unfortunately, "they know nothing."
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THE SOURCE OF NEW JOBS!
New jobs begin with pebble droppers, people making waves and wakes, the entrepreneurs who start business ventures. The “soil” must nurture them, not discourage them. Pebble droppers must be saved and admired for the service they provide. Instead, they are envied by the few, taxed and punished by government whose only purpose is to protect all people against injustice. SAVE PEBBLE DROPPERS & PROSPERITY defines a pebble dropper and the environment that is best to encourage their success. Today’s politicians are dismantling the American ideal of a prosperous, free nation. The 2008 election did seek “change,” but made community interests superior to individual interests. What has happened to the voices who believe in the importance of the individual? That is why America differs from the rest of the world. If “change” is inevitable, will we lose that which sets us apart from the Old World. Claysamerica.com
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