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Tue Nov 27, 2012, 08:10 PM

Anchor Accuses Top House Progressive Of Tanking Markets By Appearing On CNBC

Source: TPM




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EVAN MCMORRIS-SANTORO NOVEMBER 27, 2012, 7:44 PM 937
At around 3:30 PM Eastern Tuesday, CNBC anchor Michelle Caruso-Cabrera noted a sell-off in the stock market, an entirely unremarkable occurrence in the course of the financial network’s daily coverage. But what separated this particular sell-off from others, according to Caruso-Cabrera, was that it could be traced directly to the appearance of one of the House’s top progressives on her show.

Rep. Raul Grijalva (D-AZ) tanked the market, she said, by refusing to budge on his contention that Medicare cuts should be off the table in negotiations surrounding the so-called fiscal cliff. Democrats accused the anchor of trying to “shame” them into cutting entitlement cuts by directly blaming Grijalva’s words for the market’s decline.

Grijalva, co-chair of the House Progressive Caucus, appeared on CNBC to talk about the debt talks and his view that it was unfair to talk about Medicare and other entitlement programs when Republicans remain publicly unwilling to significantly increase government revenues.

Caruso-Cabrera said Grijalva’s words were literally hurting the economy in real time. It’s something that’s happened before when members of Congress appear on the air, she added.

“Representative? You know what, as we’re talking the market is selling off once again,” she told Grijalva. “Every time members of Congress come on, and I’ve got to tell you sir, I think you’re contributing to the fears that we’re going off the fiscal cliff because it doesn’t sound like there’s any compromise in what you’re saying. Do you care that markets are selling off dramatically when it looks like you guys can’t come to a deal?” As the interview ended, Caruso-Cabrera noted that the market had gone down “80 points” on the day at that point.

-snip-



Read more: http://tpmdc.talkingpointsmemo.com/2012/11/raul-grijalva-cnbc.php?ref=fpnewsfeed

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Reply Anchor Accuses Top House Progressive Of Tanking Markets By Appearing On CNBC (Original post)
DonViejo Nov 2012 OP
msongs Nov 2012 #1
Sekhmets Daughter Nov 2012 #2
freshwest Nov 2012 #20
PerceptionManagement Nov 2012 #25
The Magistrate Nov 2012 #3
alcibiades_mystery Nov 2012 #4
livetohike Nov 2012 #5
still_one Nov 2012 #12
salvorhardin Nov 2012 #6
mountain grammy Nov 2012 #7
LovingA2andMI Nov 2012 #21
DeSwiss Nov 2012 #8
byeya Nov 2012 #30
wishlist Nov 2012 #9
still_one Nov 2012 #10
The Second Stone Nov 2012 #11
still_one Nov 2012 #13
Journeyman Nov 2012 #14
GeorgeGist Nov 2012 #15
jerseyjack Nov 2012 #16
Purveyor Nov 2012 #17
Blue_Tires Nov 2012 #29
lalalu Nov 2012 #18
sofa king Nov 2012 #40
lalalu Nov 2012 #41
sulphurdunn Nov 2012 #19
bucolic_frolic Nov 2012 #22
HughBeaumont Nov 2012 #23
UpInArms Nov 2012 #24
truebrit71 Nov 2012 #26
dkf Nov 2012 #27
truthisfreedom Nov 2012 #28
John2 Nov 2012 #32
JDPriestly Nov 2012 #31
Dont call me Shirley Nov 2012 #33
tabasco Nov 2012 #34
humbled_opinion Nov 2012 #35
brentspeak Nov 2012 #36
adieu Nov 2012 #37
No Vested Interest Nov 2012 #38
libodem Nov 2012 #39

Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:12 PM

1. then get a republican on to talk about cutting medicare and markets will go UP, right???? nt

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:12 PM

2. Of all the obnoxious

assholes on CNBC, Caruso-Cabrera is the worst.

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Response to Sekhmets Daughter (Reply #2)

Wed Nov 28, 2012, 12:32 AM

20. +1,000 to what you said.

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Response to Sekhmets Daughter (Reply #2)

Wed Nov 28, 2012, 10:27 AM

25. The two wealthy orrifices on CNBC (with good health insurance) bitch about poor Americans

Give anyone a camera and they sell out so fast.

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:13 PM

3. Jesus, Sir: these People Are Legends In their Own Mind

I expect if I took a week off devoted to the purpose, I could think of something with less influence on the market than CNBC interviews....

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:13 PM

4. Our magic crystal ball is getting stormy even as you're speaking!

These people are charlatans.

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:15 PM

5. Not one of those talking head anchors on CNBC knows what "moves the market"

and if doom and gloom moves the markets then every single one of them do it every single day.

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Response to livetohike (Reply #5)

Tue Nov 27, 2012, 08:25 PM

12. especially cnbs. Bloomberg if you want to really have some insight. I stopped watching

cnbs 10 years ago, been watching Bloomberg every since


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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:18 PM

6. How dare a Congressman discuss healthcare funding on national TV!

Last edited Wed Nov 28, 2012, 12:10 AM - Edit history (1)

Doesn't he know you must be careful not to spook Wall Street? They're kind sensitive souls who get distraught when they hear loose talk about, you know, actually funding the health insurance that senior citizens pay for out of their own pockets.

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:18 PM

7. Oh please, as if there are that many people watching CNBC.

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Response to mountain grammy (Reply #7)

Wed Nov 28, 2012, 03:27 AM

21. Who in their right mind watches....

CNBC? No really, what freaking purpose does this "channel" serves?

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:19 PM

8. Anyone who watches teevee gets what they deserve......

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Response to DeSwiss (Reply #8)

Wed Nov 28, 2012, 11:23 AM

30. 10+ years of no tv - life's good without the box

 

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:19 PM

9. $716 billion already cut from Medicare according to Repubs

Don't know why his taking Medicare cuts off table would upset Repubs when they were the ones scaring voters throughout the election claiming that Obama had cut Medicare so severely that people should vote for Repubs instead!

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:24 PM

10. -Cabrera is a right wing shrill, in fact so are 98% of the people on cnbs. Watch Bloomberg.

Bloomberg tries to present both sides of an issue.

if you have ever seen Caruso on maher you will see how she spouts the party line. She is from the old school of Cuban Americans who believe we should not have relations with Cuba.

Her demographic is being replaced by younger Latinos, Cubans, and Mexican Americans as the last election demonstrated


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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:25 PM

11. I think the sell off was caused by

the anchor being disrespectful to an elected official. Seriously, what is the major mental malfunction with supposed journalists these days?

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:29 PM

13. She is an idiot. Not only is their tax selling going on right now, but this is the time when the

market traditionally has a lot of cross-currents

What is her excuse going to be if the market goes up tomorrow?

Best thing you can do if you play the stock market, is buy good quality stocks and hold them, ignoring idiots on CNBS

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:29 PM

14. I know diddly about it, but when I look at today's chart, the Market lost 0.69% on the day . . .

The Market was around 12,920 at 3:30 and dipped from there to about 12,890 before it rose again in two blips to about 12,900 at about 3:45. What, we're talking a percentage drop of around 0.002% in value.

The Market dropped again after that to around 12,875 (I doubt this second drop had anything to do with Grijalva -- but then, doubt the first drop was his doing either). But even after this drop, the Market was bouncing back up at the closing bell.

On the day, the Dow lost 0.69% of its value.

Caruso-Cabrera is as loose with her facts as she is with her lips.

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:29 PM

15. Casino mentality.

Not serious investor.

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 08:36 PM

16. She actually thinks someone watches her silly-ass program?

 

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Response to jerseyjack (Reply #16)

Tue Nov 27, 2012, 08:55 PM

17. +1 eom

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Response to jerseyjack (Reply #16)

Wed Nov 28, 2012, 11:20 AM

29. +1000

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 09:02 PM

18. People still watch CNBC?

 

Do they still listen for E F Hutton too?

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Response to lalalu (Reply #18)

Thu Nov 29, 2012, 01:25 PM

40. Nope, that's what makes it funny.

CNBC used to have this scam where a lobbying group could shovel over huge sums of cash, and CNBC would allow them to ring the opening bell at the NYSE, or other markets.

The evil association for which I was temping did this, even planned a party for it, and when the blessed day arrived I walked into the lobby to see the marketing drones flitting about, trying to turn all the televisions over to CNBC.

But there was a problem: not one person in an entire 14-story office building knew what channel CNBC actually was on, and CNBC itself was showing so many commercials that nobody could find it.

(Edit: I should add that I could have found which channel it was in fifteen seconds, but it was much more fun to watch a bunch of incompetent corporatists all try to "execute" the answer from thin air. They never managed to exert their authority far enough down the seniority tree to reach the guy who knew--me, the temp--even though he was eating meatballs while they ran around directing each other. That's pretty much how they did everything, and they effectively ran the EPA for six years.)

They very nearly missed the event, and the knot of two dozen disinterested people who watched it while cramming donuts and meatballs down their gullets probably represented the largest gathering of viewers CNBC had that day. I'm pretty sure that CNBC exists primarily as a way for corporate America to auto-fellate itself, hardly realizing that nobody else ever watches it--except when they're running that documentary on weed.

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Response to sofa king (Reply #40)

Thu Nov 29, 2012, 01:35 PM

41. This is too funny.

 

Thanks

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Response to DonViejo (Original post)

Tue Nov 27, 2012, 09:06 PM

19. CNBC makes FOX

look fair and balanced.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 06:19 AM

22. Caruso-Cabrera

a wingnut

Yeah, Michelle. A Congressman from Arizona has the power
to move the stock market. Just like Mitt Romney did.

A political point of view is one thing. Paranoid delusions
are another, and should not be allowed to substitute
for journalism.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 06:28 AM

23. Sigh. Shills gotta shill . . . .



Of course, what would you expect from a Dedicated Republican/BankFiend Propaganda Arm such as CNBC? This slippery snake is only topped by fellow Repubs Bucky Kernen and Larry Cokelow in wrong-wing groupthink. It's no surprise that a few of their ex-pat piglets are now on Faux/Faux Business.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 06:33 AM

24. what a self-important windbag!

Why in the world would she believe any program that she was a part of would have the power to move the markets? Sheesh!

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 10:31 AM

26. On a channel full of stupid people...

...she is one of the most stupid...almost as bad as that other shrill shrieker Bartiromo..

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 10:32 AM

27. Actually they are pinning it on Harry Reid's comments.

 

November 27, 2012, 3:15 PM
Stocks Drop On Reid’s Downbeat Fiscal-Cliff Comments

http://blogs.wsj.com/marketbeat/2012/11/27/stocks-drop-on-reids-downbeat-fiscal-cliff-comments/

NEW YORK (MarketWatch) — U.S. stocks dropped on Tuesday after Senate Majority Leader Harry Reid said little progress has been made in talks aimed at averting the so-called fiscal cliff.

http://articles.marketwatch.com/2012-11-27/markets/35375403_1_fiscal-cliff-charles-schwab-center-stocks-fall

US STOCKS-Wall St falls, hit by Reid's 'fiscal cliff' comments

NEW YORK, Nov 27 (Reuters) - U.S. stocks slid on Tuesday in a choppy session, losing ground in the last hour before the close after Senate Majority Leader Harry Reid expressed disappointment that there has been "little progress" in dealing with the "fiscal cliff."

The market was flat for most of the session but fell sharply after Reid's comments, a signal that investors remain skittish about the wrangling in Washington. The CBOE Volatility Index, or VIX, rose on Reid's words.

http://www.reuters.com/article/2012/11/27/markets-usa-stocks-idUSL1E8MR9K620121127



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Response to DonViejo (Original post)

Wed Nov 28, 2012, 11:11 AM

28. Fuck the market.

And fuck CNBC. Now let's get back to the real business... the people.

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Response to truthisfreedom (Reply #28)

Wed Nov 28, 2012, 02:19 PM

32. That is what I say.

 

let them tank till the World freezes over, which we know they want do! Even Warren Buffett sees through Wall Street. And how about paying that money back, the tax payers loaned you! We want interest too, about four trillion dollars will suffice!

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 11:37 AM

31. If true, it just goes to show how stupid those who invest in the markets are.

If Medicare and Social Security are cut, baby boomers (and older generations) will take more than required out of their 401(K) savings to pay their bills.

One senior taking money out of his 401(K) to pay a medical bill that he would not now have to pay will, obviously, not make much difference. But add the money up, and you get a sizable reduction in the money staying in 401(K)s. If Medicare and Social Security continue to cover seniors' basic necessities, they will be inclined to leave their money in their investments for their children.

The older you get, the more you want to leave something for your children. And while one senior may have very little saved, when you think of all the seniors with 401(K)s, it adds up pretty fast.

Also, if the age for Medicare or Social Security is raised further, those forced by unemployment or disabilities or medical needs to retire early will live on what they now have in their 401(K)s. That will be another shocker for Wall Street. The 401(K) scam is not that a huge a portion of the money in Wall Street, but it keeps things going. People put money in and don't take it out unless there is an emergency. That's middle class money.

If Congressman Grijalva's appearance on a TV show can affect the movement of the markets, reducing Social Security or Medicare benefits would be worse.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 05:51 PM

33. Raul should be getting a good chuckle out of that.

Just think of how many stocks he could tank, Oh, the absolute power

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 07:11 PM

34. It's absolutely surreal to see these stupid fucks

touted as "analysts" on the telescreens.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 10:53 PM

35. Someone at my job told me today

That if there is no extension on the Bush tax cuts than investors are most likely going to sell off before the end of the year so they don't get hit with a potential 9 percent tax increase in their profits on stocks. They said capital gains tax rates will jumpt 5 percent because of the Bush tax rate expiration and for household over 200k and addional 3.8 percent from Obamacare taxes on capitals gains. They said the market is going to tank in December because of these taxes.

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Response to DonViejo (Original post)

Wed Nov 28, 2012, 11:40 PM

36. Shrill Wall Street shill n/t

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Response to DonViejo (Original post)

Thu Nov 29, 2012, 01:58 AM

37. How about agreeing that

progressives, or at least democrats, have brought the DJIA from a low of about 6900 in January 2009 when Obama was inaugurated to its current 13,000 +/-?

Your favorite GOP non-existent president, GW Bush took the market when it was around 11K and sent it barreling down to 8K, brought it back up, then ditched it down at 6.9K when he left office. Thanks a bunch. His 8 years cost me about $200,000 in gains I could have gotten in my 401(k).

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Response to DonViejo (Original post)

Thu Nov 29, 2012, 02:53 AM

38. Pay no attention to Michelle

No one else does.
She's just a pundit, doing what pundits do.
It really doesn't matter in the big picture.

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Response to DonViejo (Original post)

Thu Nov 29, 2012, 12:45 PM

39. She must have the same coaching team of experts

As SE Cupp, Elizabeth Hasselback, and Megan Kelly.
I will say these ladies have phenomenal memories for long screeds of talking points. They just launch a new paragraph, rather than ever answer a straight question.

At least the gawd-awful, Coulterbeast, comes up with something original that she created out of lies and distortion. She does appear to be able to think.

(Hope I don't get banned for talking down these women. There is some talk of that in meta. We can never say anything bad about females because we are a minority.)

Been nice bein' here if I don't see you again. You take your chances as Skinner, says.

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