So I wanted to know what happened to the DOW today...

[CoffeeCat]

I canceled cable, and I just pulled up www.cnbc.com to see how the DOW and other
stocks did.

The DOW is down just over 100 points.

What I found interesting--is the number of stories on CNBC's front page--proclaiming that
we should "BUY! BUY! BUY!" now.

The top story is titled: "Stocks May Reset Bottom: So Let the Buying Begin."
http://www.cnbc.com/id/29014855

Then, on the front page--third story down is: "Warren Buffet Metric Signals: It's 'Time to Buy' Stocks."
http://www.cnbc.com/id/29016198

Can I get a reality check? Anyone else find this insane that CNBC, and other media outlets--are pushing the "Buy NOW!" meme??

I find it incredulous. Yeah, I don't have a crystal ball, but I haven't heard one positive economic bit of news
nor have I seen any economic indicators that point toward a surge in stocks. Or that this is the bottom.

If I'm wrong...please, enlighten me.

My sense is that the MSM is in overdrive--trying to get consumers back into the market, and also buying more stocks.
And...they're doing this by marketing lies. I guess they figure that they can't force us to shop, so now they've
switched to trying to get us to invest in the stock market.

It just seems so blatant and irresponsible.

[Muttocracy]

1. if they can speculate oil up, I wouldn't mind if they speculate retirement accounts up again.

of course, that's not real money or wealth.

[Donnachaidh]

2. People aren't going for the *Go out and Shop* option anymore

And my area used to be HUGE in that department. The mall is EMPTY, strip malls are becoming ghost towns with empty stores in every single one. Everyone's holding their breath, waiting to see where the crap is going to fall tomorrow.

[phantom power]

3. You should definitely be skeptical. But I can't entirely blame them...

Getting on the TV and saying "SELL! SELL! SELL!" would be the economic equivalent of yelling "fire!" in a crowded theater. I don't know what people should report. Just the facts, I guess. Leave the "buy" and "sell" decisions up to the audience.

The DOW has definitely been leveled off at around 8000+ for a while, but my magic 8-ball says we haven't seen the bottom yet. That goes double if Obama can't get some kind of decent stimulus bill through congress soon.

You can't just continue losing 500K jobs per month very long before Very Bad Things start to happen.

[DJ13]

4. The MSM thinks the stock market operates in a vacuum

They operated to long ignoring the ties between Main st. and Wall st., where their precious stock market could continuing going up by raping the US workforce.

Its too late now, their products those company's stocks represent are worthless if no one can afford to buy them, and those stocks are worthless as well.

[jgraz]

5. They want to keep our giant Ponzi scheme going for a few more months.

[The_Casual_Observer]

6. Stock market is probably going to go down to 5000 & stay there.

Boomers are starting to retire, unemployed people don't contribute to 401ks, so what would there be out there to drive up the market?

[2Design]

7. without their home being an ATM anymore there is no money for

all of these scammers - corporations, real estate, wall street, shareholders, congress critters, etc

[sendero]

8. The MSM are Pump Monkeys..

... they do not work for you they work for their corporate masters, including the owners and advertisers.

Various morons on CNBS have called the bottom several times.

Please, do not waste your time on TV if you are looking for investment or financial information.

[CoffeeCat]

9. That's one reason I canceled cable...

I just got sick of it all.

We'll see how I survive without it.

If I may ask, what sources do you use for investment and financial information? Do
you have certain sources on which you rely?

I don't listen to the MSM for any read on the market or the economy. They lie and
try to paint happy colors, where none exist.

I think if people relied on their gut instincts and their intuition--they could do
pretty well.

[wuvuj]

12. Ask here?

http://socialize.morningstar.com/newsocialize/asp/coverpage.asp?pgid=hetabdiscuss&t1=1233841042

[notesdev]

10. It's an old game

"fishing for suckers"

Although if you invest based on what you hear on TV... you probably deserve to lose your money.

[ixion]

11. congratulations on canceling cable

I got rid of my in 2003 and have never looked back. The house is much quieter now, without me yelling at the television. :)

[DemReadingDU]

13. Buy Houses too

2/5/09 Heard on NPR this morning

As the federal stimulus bill takes shape, Republican lawmakers are pushing for the government to drive down rates for home loans to historic lows.

Republicans want to see rates for 30-year fixed-rate home loans cut to about 4 percent for borrowers with decent credit. The national average for a 30-year fixed-rate mortgage is 5.34 percent, according to Bankrate.com.

The move could save millions of homeowners a lot of money if they refinanced. It could also help prop up the housing market. And advocates say it wouldn't cost the government much of anything.

The idea behind the proposal is that it would make it cheaper to buy a house, which could boost sales and help stabilize the housing market. And it would put a lot of extra money in the pockets of homeowners who could refinance.

more, and you can also listen to an audio link
http://www.npr.org/templates/story/story.php?storyId=100259536

[LeftHandPath]

14. CNBC is owned by GE...

Take a look at GE's stock, they are in a death spiral because of their lending arm GE Capital.

GE, NBC, MSNBC, and CNBC, are insolvent, just like Bank of America, Citigroup, Wells Fargo, JP Morgan, Morgan Stanley, and the rest of the Feds Primary Dealers.

The CNBC characters are trying to save their company and their jobs. I'm hoping they fail.

[CoffeeCat]

16. I thought Wells Fargo...

...was in pretty decent shape?

I'm still not understanding all of the moves that transpired with Wells getting bailout funds.

Apparently, they didn't want the money. The govt practically threatened them and said that if
they ever did need assistance, the govt wouldn't be so nice the next time around.

The govt bought $25 billion in Wells Stock.

Is it just me...or does it seem like the govt forced Wells into being forever hitched to the US govt?

Again, I'm just trying to understand all of this--but this "You will take OUR money" has a Tony Soprano
feel to it. It's like a loan shark insisting that you take their money, so you'll be forever at their
mercy.

Who knows.

[specimenfred1984]

15. TV whores are an ongoing disgrace to their profession and America

They swallowed the disaster capitalism Kool-Aid a long time ago. The only positive out there is 100% gambling/speculation that "looking forward" the economic numbers will stop being so bad. Too f-ing bad for the lying TV whores that unemployment claims were 626,000 this morning.

[Joanne98]

17. They're criminals. They should all be arrested and put in Bernie Madoff's penthouse!

[readmoreoften]

18. Read deepcapture.com

You'll be surprised to learn that Cramer, wsj, thestreet.com, etc. is at the heart of this mess. It's quite the crime story.