If there is a choice between a bullish story or a bearish story to pitch, Ron Insana or his Overlords will always go for the latter.
The Mercedes/Greenwich story has been repeated ad infinitum on CNBC for weeks--I wish they'd give it a break already.
Yesterday CNBC had Bollinger onand they discussed the downdraft in interest rates. Insana's core question was ( and I paraphrase ):
" Now, aren't these lower interest rates causing alot of pain out
there? " ( huh? ) Of course, Ron was referring to those retirees who largely rely on interest sensitive vehicles. Legit question and quite appropriate. But In the interest of balance the next question might have been " Now aren't lower interest rates making a considerable number of folks---mortgage refinancees, new car buyers, credi card holders, equity loan customers, etc.---happy? "
The question was not posed nor is it being asked in the midst of this quirky panic. If there ever was a real time case study taking place for the theory of self-fufilling prophesy, folks, here it is.
No, not ignoring Asia, nor S.America, nor the parasitic hedge funds. But when the media and all the others who haven't hooked into an original thought in years proclaim the near end of commerce is at hand when airline bookings are still at record levels, auto sales chugging along, the likes of AMD ( a semi conductor no less ) crush analyst herd think, you begin to wonder about the ability of the regular guy to draw a realistic conclusion on just about anything.
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