Oops: CNBC Puts Billion Instead of Trillion in the Headline

Jul 9, 2011
J. Webster
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With all the money being thrown around these days, with all the talk of bailouts and debit limits, a billion here and then a trillion there, it’s no surprise the CNBC headline writers missed this one and put $2 billion instead of $2 trillion in the headline. It is Saturday night anyway. Nobody’s really reading CNBC right now are they? Who cares, the stock markets not even open. It's not like all those expert economists who incorrectly predicted the jobs number by a 100,000 or so. This is just a silly copy writing error. What's a billion

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Rick Santelli with Another Rant: Jobs Report Miss

Jul 8, 2011
J. Webster
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CNBC's Rick Santelli, perhaps most famous for his Tea Party inspiring rant a few years ago, gets fired up again talking about the big jobs report miss. The rant gets going around the 6 minute mark when he talks to Steve Liesman, the CNBC Senior Economics Reporter. I get the feeling these two don't like each other very much, jobs report miss or no jobs report miss. It's not just Liesman he goes after though. Take a look. You've got to love his passion.

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Buffet Bets Against Double Dip

Jul 8, 2011
J. Webster
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Despite the poor jobs report today, Warren Buffett doesn't believe there will be a double dip. And he amazingly didn't say this to Becky Quick on CNBC, he actually had an interview with someone else, Betty Liu, of Bloomberg. Anyway, Buffet said he sees growth around the world but no 'mushrooming' growth and no signs of a double dip recession. Shockingly, he even called for a housing recovery in a year or so.
“I would bet very heavily against that,” Buffett told Bloomberg Television’s Betty Liu on the “In the Loop” program today after data showed slowing U.S.

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Nouriel Roubini on Poor Jobs Report: Deep Ugly Swamp

Jul 8, 2011
J. Webster
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Who do you go to when there's gloom? Why Dr. Doom of course. What with the jobs report showing only 18K new jobs, when all the economists were saying there would be at least 60K new jobs reported, at a minimum. It's a good time to see what Mr. Roubini has to say about the economy. Here's his latest tweet:
@Nouriel Nouriel Roubini Labor market in a slump dashing the hopes that this is a temporary soft patch. It is rather a deep ugly swamp
Yes, his new phrase it seems is 'deep ugly swamp' to characterize the

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A Look Back: Bailout Vote Fails in the House of Representatives in 2008

Jul 7, 2011
J. Webster
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Remember when the $700 billion bailout failed to pass in the House of Representatives and the stock market continued to crash in late September of 2008? I'm thinking, unfortunately, that this might happen again but this time with the debit limit. It wasn't until the stock market continued to fall back in 2008 and local economies were on the brink of falling apart did the government get it together and realize this wasn't the time to play politics. Let's hope they don't make that same mistake again. As Warren Buffet said, they're playing Russian roulette with the debit

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Richard Rosenblatt of Demand Media in Sun Valley

Jul 7, 2011
J. Webster
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Why is Demand Media's Co-Founder, Chairman and CEO, Richard Rosenblatt, covering his name tag with his hand? In Sun Valley for the Allen & Company Conference, Rosenblatt appears to be trying to hide who he is for some reason. Google knows who he is. Eric Schmidt knows how is. Or, maybe, the photo just catches him slapping on his name tag. Doubt it. Either way, I bet he tries to make peace with Google while at the conference in some way. It's only Eric Schmidt at the conference though, as Google co-founders Larry Page and Sergey Brin have

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Buffett Says Washington Playing Russian Roulette with Debit Limit

Jul 7, 2011
J. Webster
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Why does Becky Quick always get to interview Warren Buffett? Who knows. I guess Buffett likes her is the most obvious reason. She's smart, too. Nice bottle of coke there too, next to Buffett, with Buffett of course owning the Coca Cola company. So, whenever there's a Buffet interview there's always two things: Coke and Quick. Anyway. The business at hand was all about the debt crisis not in Greece but in the United States. As Congress wrestles with raising the debit limit and debates the deficit reduction. Buffett said they're playing Russian Roulette, and the

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The Perfect Financial Storm Coming in 2013

Jul 6, 2011
J. Webster
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Everyone thought the rapture was going to take place in 2012, but it actually looks like it's going to take place in 2013. Well, that's according to famed doomsdayer Nouriel Roubini, otherwise known as Dr. Doom. He's predicting not a rapture exactly, but a storm, as in a financial crisis with thunder and lots of lightning across the usual European countries with debt problems. Does he ever not predict a financial crisis? Sure, he deserves plenty of credit and attention for predicting the housing collapse, but enough already, I say. It's like: yeah, yeah, surprise, surprise, he's predicting

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John Carney’s Beard Entering Bernanke Territory

Jul 5, 2011
J. Webster
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Word on the street is CNBC's expert blogger and NetNet head honcho, John Carney, is trying to out do Bernanke's soft white beard. Getty Images Carney's beard is starting to make more TV appearances and gaining attention not just on CNBC but on Twitter, too. I don't know if Mr. Carney knows what he's getting into by growing this beard. He's crossing a line. Everyone on the street knows you don't try to grow a beard that will upstage Bernanke's beard. It's fine for Hollywood types to grow beards when they're going through a crisis, as

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Netflix Expands Streaming in 43 Latin America Countries

Jul 5, 2011
J. Webster
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Netflix is a stock that's at once loved and hated, the ultimate growth stock and the ultimate short. Famously, the Netflix CEO, Reed Hastings, even went so far as to tell a trader shorting the NFLX, Whitney Tilson, to get out while he could, as the stock is only going to go up. Now, what with Netflix going global with streaming, you can see why. The question is, what other company can step in and stop Netflix from cornering the market on direct to TV streaming and movie delivery? There doesn't seem to be one.

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