CNBC Spins ADP Job Loss Estimates of 371k As Good News

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ByLoSellHi

It's "only half the worst job loss ever," according to Steve "the pimple" Liesman.

CNBS, bullshitting America with a straight face since 1988.

Oh, and June was revised downward to 463k, too.

We're headed for real unemployment of 20% sooner than anyone anticipated, and probably 25% or more.
 
And the Administration will come up with more stimulus packages... each will NOT re-ignite significant job creation but will bloat the debt further...

Yada, yada, yada... until, POP!
 
(sorry to hijack the thread, but it's kind of related to your main point about CNBC being bullshit artistry savante)

Driving home last evening I heard Beaker on XM Radio. I'm firmly convinced that Kneale is CNBC's answer to Bill O'Reilly, Keith Olbermann, and Lou Dobbs. Loudmouthed opinion, opinion-as-fact, rude hosting, total arrogance, and more. But, these clowns apparently get viewers to their networks, which sells ad time, and that's the only goal in today's commercial "news" organizations. :(

Some observations from his 'Hour o' Power' on the network:

- Agree with your guest? Let s/he talk.

- Disagree with guest? Step over them and have anywhere from 5-10+ seconds of both of you screaming over each other.

- 'Pax Americana' is the new Kudlow-Kneale soundbyte, I think. I must have heard it a dozen times in 15 minutes or so.

Beaker's great line? Why should GS' CEO tell his folks to tone down extravagant buying of yachts and such? Don't we WANT people spending money to stimulate the economy? (Pax Americana, baby!)

...well, it was good for a laugh, and reminder of why I gave up watching CNBC months ago.
 
cnbc is spinning almost any piece of news as positive, futures dipped and started to climb again, banks are all up premarket again, bad news is good, good news is great.
 
Dennis Kneale is the puss filled boil that requires lancing that sits atop the already infected abscess that is CNBC.

Like the icing atop the cake, but in a bad way.
 
Which way are job losses trending? The market will continue to price in less unemployment for as long as the trend continues. For the market to fall, job losses would need to be:

1. Trending towards greater job losses.
2. Worse than expected job losses.

This theory breaks down if there is an extremely high unemployment rate as there are few left to lay off, but for now this is how I see it.
 
Quote from rickf:

But, these clowns apparently get viewers to their networks, which sells ad time, and that's the only goal in today's commercial "news" organizations. :(
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Yep, news is not about news or correct reporting these days, it's about making money.

Simple as that.
 
Quote from AK100:

Yep, news is not about news or correct reporting these days, it's about making money.

Simple as that.
More...

Bloomberg has Tom Daschle on as a valued contributor!!!!!

We shit canned his ass from the Senate while democrats were gaining seats across the country.

And better yet, he is brought on to talk the health care bill. Nothing but propaganda from this guy.

There is NO viable news yet other than the DJIA stream....and that is viewed with a skeptical eye as well.

Goebbels would be so proud.
 
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