Mark Haines used to challenge the opinions of many cnbc guests.
I see less of that with the current crew. Meredith Whitney got away with the statement that banks are zombies - they're not investible. Sean Egan got away with much of the PIIGS debts should be marked down 50 to 90% of par, thus making european banks insolvent. No one on cnbc points out that there is virtually no correlation between the empire state, philly fed and richmond fed surveys with gdp. When these surveys were rocking earlier this year, it suggested growth of 4% when in fact it came in around .5%. The list goes on.
And much of the ok news is not even mentioned. I can't think of one time that cnbc, for example, referenced the weekly Federal Reserve report for US Commercial banks. The data is not great but it hardly suggests that we're going into a recession. And this is a very key report because it shows weekly loan growth by category which is a very meaningful indicator of the health of the economy.
you think the fed reserve reports on commercial banks is going to keep us out of a recession? no wonder you worked for the fed, you are just like the rest of them boys...
...we don't expect you to know how to trade a market, but there is one issue you are missing out on, that is the cost of capital, when markets drop, what happens? oh, that's right, we forgot to mention that part on CNBC also?