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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Khris Vogel who wrote (931)	4/27/1998 8:01:00 AM
From: Uncompaghre	Read Replies (1) \| Respond to of 17683

It seems that at the same time the clowns at CNBC (financial) have decided to let us know about entertainment fluff and sports headlines, they have decided that they will concentrate on one potentially market moving story daily. There was a time when they would report pure news and allow the 'editorializing' to be made by the viewer; that is to say, allow him to come to his own conclusions. As an example of the new spoon feeding style, this morning, the 'Big Story' is about a piece of reporting in the Wall Street Journal. Interview after interview with analysts and financial gurus supporting the thesis of a story put forth by 'unnamed sources' that the Fed has changed its bias from neutral to leaning toward tightening rates. I suppose that it can be argued that the WSJ is an institution in the financial community and the words therein have the power of truth and the potential to sway markets. I would suggest that if this is the case, then report the story and be on with it. The focus on the 'terrible fed' interrupting our attempt at prosperity is such that when one analyst of European markets stated that the US economy and markets are behaving wonderfully and, when compared to their European counterparts, they come way out in front in terms of both sustainability and valuation, he was virtually ignored, thanked for his time and given the ol' heave ho. The loss of integrity of the CNBC financial reporting was magnified for the entire thinking world to see by the 'Dow 9000' extravaganza. To me as a serious trader and investor, that was one of the most embarrassing news making attempts I have ever seen. 'Let's have a weekend long 9000-a-thon.' It would have been better to run reruns of Charles Grodin than to make news out of a non-event. At least they can't editorialize the scrolling ticker (yet) and they've added that pretty blonde in the afternoon.