This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lose the Drama and Give Markets Their Due

Having been exposed to a particular article in this morning's Wall Street Journal, which echoed a similarly misguided effort in yesterday's Journal, The Business Press Maven turned into an empty silhouette of a man.

As a result, I need to step back for one moment from analyzing the business media's work on any particular company or economic issue to get at the larger issue of why so many are so wrong about so much. It has to do with the small little fact that they don't understand in the least the way the entire capitalist system functions.

Ours is a dynamic system. And it is rarely, if ever, a zero sum game. But journalists consistently write about it as if it were. Read this morning's " Broadway Strike Weighs on New York City " and see if it doesn't hit you right in the orchestra pit, too.

It is full of typical estimates (we've heard 'em a million other places in the past few days) that the stagehand strike, which began this weekend and shut down a bunch of Broadway plays, will "cost" New York City on the order of $17 million a day.

That was an estimate given by a theater organization, and it was then followed by a Times Square neighborhood alliance, which weighed in on "the immediate and palpable sense that the wind has been sucked out of the sales."
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
C $58.44 -0.03%
JPM $68.53 0.00%
IBM $158.71 -2.02%
MS $38.76 -0.21%
UBS $23.12 0.26%

Markets

Chart of I:DJI
DOW 17,598.20 -91.66 -0.52%
S&P 500 2,098.04 -5.80 -0.28%
NASDAQ 5,115.3820 -12.8990 -0.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs