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Naysayers Pooh-Pooh Stock Market Rise...

by John F. Tamburo, Editor in Chief, Publisher
Originally Posted: 12/22/2004 11:01:02 AM

The elite leftists who run the media truly hate our President, and a reasonable if not convincing case can be made that these people hate The United States of America.  As I opined yesterday, the markets smell the coming boom from the private investments in Social Security Reform, and have been reacting with barely-restrained glee.  The Dow reached a 3 1/2 year high yesterday, and as of 10:37AM CST on Dec. 22, was up another 50 points.

"What is stark about these news reports is the fact that they are all demonstrably false by objective standards!"

This was set against the backdrop of ABC, CNBC and CNN news reports of how the war is "going poorly" (not my words, but the words of an ABC reporter), in Iraq, how interest rates are "the needle that may just burst the real estate bubble" and complaints about the weak dollar and poor economy.  What is stark about these news reports is the fact that they are all demonstrably false by objective standards!  Why would these news outlets ignore real economic growth, job gains, the continuation of a strong real estate market, and a strong victory in Iraq and choose to report lies?

The reason is simple:  The truth benefits conservatives and their leadership in general, and specifically it benefits our President.  Remember that the elite left wants to control the people that the conservatives want to liberate.  They lose their control if the President has a strong mandate and a high popularity rating, because he will immediately leverage that to gain every reform that he has mentioned.  This will enrich, empower and liberate our wisest and oldest citizens, who deserve the higher income and the lack of governmental dependence.  It will also, as soon as these bigger checks start showing up, completely gut the remaining base upon which these elite leftists depend.  They will go from 40-45% of the electorate to 25-30%.

Now is the press intentionally reporting false news, or is the press just so depressed about the unpopularity of their philosophy that they end up seizing on every little less-than-perfect development in order to show the position that their bias makes them believe?  I do not want to be the Michael Moore of the Right, so I will adopt the second position.  Depressed reporter sees Kerry back to a lone voice in the Senate wilderness.  Depressed reporter sees suicide bomber hit mess tent in Iraq.  Brave soldiers die.  Tragedy (this is true).  Conclusion:  War is going poorly.  The leap from a single attack to "war is going poorly" is the problem, but the reporter honestly sees it as the truth because his/her bias forces a leap to the conclusion.

"The market, however, has learned the wisdom to ignore the press and to look at the facts without the spin.  The fact that the Dow is flirting with 10,800 today is proof of this wisdom."

The market, however, has learned the wisdom to ignore the press and to look at the facts without the spin.  The fact that the Dow is flirting with 10,800 today is proof of this wisdom.  Oil prices are slowly falling.  The president realizes that a weaker dollar makes imports more expensive, and exports cheaper.  This will both reduce the trade deficit and drive the domestic economy, so he pays lip service to the strength of the dollar, and does little to interfere with market forces.  The elite left complains that the President does too little to help American workers, while at the same time they complain that he does not shore up the dollar, which when weak is a market force that will drive up demand for domestic goods and create American Jobs!  A weak dollar also has the effect of reducing outsourcing by making domestic labor more competitive with that found outside our borders.

I simply wish that those who are in the press would shut up with their spin and report the facts and nothing else.  A reporter’s opinion of the progress of the Iraq war is not news; it is an editorial.  The American People are more than smart enough to distill the facts and make up their own minds.