Thursday, October 05, 2006

Not Breaking New: Stocks At Record Highs

The DOW Jones index hit a record high for the 3rd straight day. You'd think that would be news. I checked the front pages of CNN, FoxNews, ABC, CBS, and MSNBC. None of them really covered the story. There was a small headline on FoxNews, but we all know they are just a shill for the White House, so that hardly counts.

Glenn seems to have taken a slight interest over an Instapundit. That first link is quite interesting, if not well-written. It discusses a Chicago Tribune article titled, "As Dow Surges, Many Left Behind," and has commentary such as:
At the same time, the housing market developed a bubble of its own in the past six years as the Federal Reserve kept interest rates low to prop up the economy. Now, home construction has tumbled, and prices generally have softened. Some fear the end of this bubble could sink the economy. Others disagree. Whatever the case, the economy is slowing down.
The author goes on to analyze earlier Tribune coverage of stock market highs from 2000, when Clinton was President. The stories are all glowing and any negatives are explained away as "nothing to worry about".

The media's behavior on this issue has become somewhat of a joke at more conservative blogs. Wizbangblog had a post about the record highs. The first comment?
I blame Bush.
As funny as such postings may be, I still continue to worry about the state of the current mainstream media.