Drudge Retort: The Other Side of the News
Thursday, July 03, 2014

U.S. stocks lifted the Dow Jones industrial average above 17,000 for the first time in its history following the federal government's report that the economy created a better-than-expected 288,000 jobs in June and the unemployment rate fell to 6.1 percent. "The headline jobs number and underlying data reinforces the fact that the domestic economy is thriving," said Todd Schoenberger, managing partner at LandColt Capital.

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"I've been in the business since the days of Dow 1,700, so this is especially cool to see, or it means that I'm especially old," said Michael Farr, president of money-management firm Farr Miller and Washington.

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Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

"Benghazi!!" - The Right

#1 | Posted by midiman at 2014-07-03 11:03 AM | Reply | Flag:

Good thing it is the Fourth of July weekend.

Republicon heads exploding in 3, 2, 1....

#2 | Posted by donnerboy at 2014-07-03 11:03 AM | Reply | Flag:

And the Nasdaq is at 4475, bring back fond memories of that 1 day and only close of over 5000 back in spring 2001. Aaah, the good old days.

#3 | Posted by CrisisStills at 2014-07-03 11:08 AM | Reply | Flag:

OK tell Me something. Since it takes more dollars to equal the value of the dollar 30 years ago. Doesn't this mean it takes more stocks to equal the value of what the stocks were 30 years ago?? Or am I all wet???

#4 | Posted by LarryMohr at 2014-07-03 11:12 AM | Reply | Flag:

How do you libs square this while supporting OWS? How do you celebrate the rise of the Dow with your supposed support for the common man?

I'd rather see a rising stock market but this is no way indicative of a well functioning economy.

#5 | Posted by justanoversight at 2014-07-03 11:28 AM | Reply | Flag:

"Bin Laden" was the greatest gift to petroleum pricing the world has ever seen. Katrina was the greatest gift to the no-bid construction contractors the world has ever seen. The Iraq war was the greatest gift to military contractors the world has ever seen.

How much gold was transported out from the various WTC vaults that fateful morning?

It's amazing how the New York Port Authority were able to change their attire so quickly in the midst of a terrorist attack.

Bizarre Live Interview with 911 Police Chief and Dir. of WTC

#6 | Posted by redlightrobot at 2014-07-03 11:31 AM | Reply | Flag:

...and poor get poorer while the 1% pays 15% on capital gains....

#7 | Posted by MUSTANG at 2014-07-03 11:35 AM | Reply | Flag:

"OK tell Me something. Since it takes more dollars to equal the value of the dollar 30 years ago. Doesn't this mean it takes more stocks to equal the value of what the stocks were 30 years ago?? Or am I all wet???"

I know this one...

Going by PPI, which is more stable, the value of both the dow and S&P in dollars is less than in was at the peak in 1999/2000. It's slightly higher than it was in 2007, but not by much. I've seen it on charts, but without actual numeric values, so I'm not sure the exact percentages.

If you divide by the price of gold, the whole economic market looks like it's in the toilet.

#8 | Posted by LEgregius at 2014-07-03 11:53 AM | Reply | Flag:

Obama has been an outright disaster for the economy.
Since taking office my 401K has only increased by 300%.
Socialist swine.

IRS-Irritable Republican Syndrome

#9 | Posted by tiger150 at 2014-07-03 11:55 AM | Reply | Flag:

Shouldn't this be Bush's fault?

#10 | Posted by fishpaw at 2014-07-03 12:11 PM | Reply | Flag:

How do you libs square this while supporting OWS?

The Dow Jones average is made up of 30 public companies, only three of which are in banking. Your perception that liberals are anti-business success is off base. Liberals in America have plenty of business that we like, including our own. We just don't like business so much that we value corporations over people the way Republicans do.

#11 | Posted by rcade at 2014-07-03 12:11 PM | Reply | Flag: | Newsworthy 1

And the sheep go baaaaaa.But look on the bright side, nearly 1/3 of Americans can't find work or even looking for it.

#12 | Posted by Daniel at 2014-07-03 12:15 PM | Reply | Flag:

How do you libs square this while supporting OWS? How do you celebrate the rise of the Dow with your supposed support for the common man?
I'd rather see a rising stock market but this is no way indicative of a well functioning economy.

#5 | POSTED BY JUSTANOVERSIGHT AT 2014-07-03 11:28 AM | FLAG: PFFFFTTTT!!!

The right has been asked this question for years... so what is your answer?

There is a rather bizarre perception out there fueled by ------------ misinformation that democrats are socialist and anti-business. If that were the case then Clinton would no have had the longest period of sustained economic growth in US history. Your perceptions are not unlike what happens when the clown brigade is running around saying democrats are soft on terrorism. When is fact that is not the case. Democrats have been doing plenty of terrorists ass kicking... but that is the ------------ way of worming out of their stupid... I mean the nation is attacked on its own soil for the first time in its history the son of business associates of a sitting president and you pig brains tried to blame it on Clinton. That same president doing business with terrorists funding organization put economic policies in place that drove the economy into the ditch... something the clowns have been blaming on Obama.

[...] The difference is the ------------- vilify the poor and lower working class insisting that that any benefit afforded them by the US government is wrong and creating a state of dependancy. As if the facts that the corporations who screw up and demand government protection to keep from failing aren't dependent on government? Fine let them take their business and move to the nations whose labor they exploit and see how well they do with their governments.

Democrats says the poor should be paid a living wage and have affordable medical care. The ------------- throw a fit. We know big business is what drives the economy. That is not the problem. The problem is what is done with the money.

The pig brains of the clown making machinery go on and on about how it's whom ever the CEO of what ever company's money because he or she earned it. The problem with the clownies is that they do not take into consideration that the CEO's job is to devalue the worth of human labor in order to drive up profit. If they have done their job well they get paid the big bucks. So people become unemployed and when they do return to work are paid less. The person(s) responsible for the devaluation gets a yacht.

The democrats say this is not good for the country and say the were created by the big business practices and should have their basics needs met. Since you won't pay them a living wage it is not right to let them languish. What is taken away from the 1% to meet the needs of their creation won't be missed. You can only fly so many planes or sail so many yachts.

But to her the clowns yammer on about it you would think that all "those people" have ever done was take take take. That is the big lie.

[...] The recipients of the benefits are not going to get rich from them. They just aren't going to languish. You go on and on about how the democrats want to turn this nation into a third world nation. Wake up stupid. Third world nations are where the people are where people languish while those at the top cry victimhood.

If anyone is aiming for that status it is the clown brigade because they are out of touch with the realities on the ground.

#13 | Posted by RightisTrite at 2014-07-03 12:16 PM | Reply | Flag: | Newsworthy 2

Shouldn't this be Bush's fault?

#10 | Posted by fishpaw

Of course it should.

This is GOOD news isn't it?

(Tho I am sure you can find that dark cloud in the silver lining.)

#14 | Posted by donnerboy at 2014-07-03 12:23 PM | Reply | Flag:

But look on the bright side, nearly 1/3 of Americans can't find work or even looking for it.

#12 | Posted by Daniel

Or we can look at the dark side and see that nearly 2/3 can.

#15 | Posted by donnerboy at 2014-07-03 12:24 PM | Reply | Flag:

Was it Vernon or someone else who predicted the DOW would fall to 1,400?

#16 | Posted by mOntecOre at 2014-07-03 12:41 PM | Reply | Flag:

#16

That was Ray. He would tell you, "it ain't over yet!" lol

#17 | Posted by Corky at 2014-07-03 12:43 PM | Reply | Flag: | Funny: 1

Was it Vernon or someone else who predicted the DOW would fall to 1,400?

#16 | Posted by mOntecOre at 2014-07-03 12:41 PM | Reply | Flag:

Wasn't that Ray??

#18 | Posted by LarryMohr at 2014-07-03 12:43 PM | Reply | Flag:

#13 Your rant was too long and too boring to finish, you might as well have linked to an MSNBC story and saved everyone's time. The point that was being made was that Dems run on being the party of the lower and middle class and that they want corporations and the wealthy to pay their fair share, unless of course they and their wealthy doners take a hit and then they look the other way. I like to see the market go up but to say this is the sign of an improving economy is mindless. All someone needs to do is fill up their car, buy groceries or pay a heating bill to see we are in trouble.

#20 | Posted by fishpaw at 2014-07-03 12:59 PM | Reply | Flag: | Newsworthy 1

This is great news, I think I'll take a wheel barrow of Obama dollars down to McDonald's and buy a value meal to celebrate.

#22 | Posted by visitor_ at 2014-07-03 01:10 PM | Reply | Flag: | Funny: 2

I miss the days when Republicans celebrated good economic news along with Democrats. Your side is almost certain to gain in the mid-terms. You don't have to downplay all good news just to win an election. Show some support for your country.

#23 | Posted by rcade at 2014-07-03 01:22 PM | Reply | Flag: | Newsworthy 2

You're right - it was Ray. I wonder if he choked on his gold?

#24 | Posted by mOntecOre at 2014-07-03 01:29 PM | Reply | Flag:

Ray said it was going to go down to 700. Where is Ray?

#25 | Posted by lee_the_agent at 2014-07-03 01:32 PM | Reply | Flag:

Clinton would no have had the longest period of sustained economic growth in US history.
#13 | POSTED BY RIGHTISTRITE AT 2014-07-03 12:16 PM | FLAG: Head Clown

Wrong as usual
www.centerforpolitics.org

25 People to Blame for the Financial Crisis

President Clinton's tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years.

He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.

content.time.com

Sorry to interrupt a good lib hissie fit with facts so carry on.

#26 | Posted by paneocon at 2014-07-03 01:36 PM | Reply | Flag:

#23 | Posted by rcade

Everyone celebrated when the numbers weren't affected by politics. The DOW number is inflated due to the Fed printing money day and night. U/E is fake because they aren't counting everyone wanting a job and those who have dropped out. Plus 75% of the "new" jobs are part-time..

What's there to celebrate? Your fake liberal numbers?

#27 | Posted by boaz at 2014-07-03 01:38 PM | Reply | Flag:

#23 | POSTED BY RCADE

You may have missed this:

Part-time workers increased by 275,000 in June to 7.5 million.

#28 | Posted by paneocon at 2014-07-03 01:41 PM | Reply | Flag:

Clinton repealed Glass–Steagall which set the stage for the '08 meltdown. It's also one of the reasons Hillary is so popular with Wall Street. He also signed NAFTA.

The internet bubble that happened when he was president was the big reason for the booming economy. None of that was really Clinton's doing.

#29 | Posted by lee_the_agent at 2014-07-03 01:42 PM | Reply | Flag:

The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the Bureau of Labor Statistics (BLS).

This means that there were 92,120,000 Americans 16 and older who not only did not have a job, but did not actively seek one in the last four weeks.

www.drudge.com

#30 | Posted by boaz at 2014-07-03 01:43 PM | Reply | Flag:

opps, wrong link..

cnsnews.com

#31 | Posted by boaz at 2014-07-03 01:43 PM | Reply | Flag:

Fed printing money day and night

at 6% interest.

#32 | Posted by lee_the_agent at 2014-07-03 01:44 PM | Reply | Flag:

Everyone celebrated when the numbers weren't affected by politics.

And when was this, exactly? The Fed has been around since 1913.

#33 | Posted by rcade at 2014-07-03 01:44 PM | Reply | Flag:

Hope and Change:

cnsnews.com

The unemployment rate for black Americans is more than double that of white Americans, according to the latest data from the Bureau of Labor Statistics (BLS).

In the numbers released today, covering the month of June, the seasonally adjusted unemployment rate for black Americans age 16 and over was 10.7%, reported the BLS. The unemployment rate for white Americans in the same age group and time-frame was 5.3%, said the BLS.

#34 | Posted by boaz at 2014-07-03 01:45 PM | Reply | Flag:

And when was this, exactly?

YOU said it. YOU tell me..

I miss the days when Republicans celebrated good economic news along with Democrats.

#23 | Posted by rcade

#35 | Posted by boaz at 2014-07-03 01:46 PM | Reply | Flag:

Eberly happy. Need to review portfolio to take some profits.

#36 | Posted by eberly at 2014-07-03 01:49 PM | Reply | Flag:

... but did not actively seek one in the last four weeks.

If someone did not look for a job the last four weeks, that person must have some means of subsisting without a job, so they're less important to measure than people out there looking.

The only reason you care so much about the people not looking for work is because the primary unemployment rate looks good for Obama, and it has been moving in the right direction for five years during his presidency:

data.bls.gov

Before long, he will have cut unemployment in half since the worst of the Great Recession.

#37 | Posted by rcade at 2014-07-03 01:49 PM | Reply | Flag: | Newsworthy 2

YOU said it. YOU tell me..

During the dot-com boom, Republicans and Democrats both celebrated good economic news. During the Clinton years, Republicans and Democrats both celebrated good economic news. It wasn't until Obama was elected in the midst of the worst economic collapse in 70 years that the GOP became economic traitors always cheering bad news and downplaying good news.

#38 | Posted by rcade at 2014-07-03 01:51 PM | Reply | Flag: | Newsworthy 1

that person must have some means of subsisting without a job

Yea, it's called free gubmint gimmies...

because the primary unemployment rate looks good for Obama

Havent you been listening Rogers? ITS A FAKE NUMBER!! There are millions of unemployed people!!

#39 | Posted by boaz at 2014-07-03 01:52 PM | Reply | Flag:

#38 | Posted by rcade

I noticed you left out the boom years of Reagan, the Dems didn't celebrate then?

It wasn't until Obama was elected

I knew the race card was coming soon...

#40 | Posted by boaz at 2014-07-03 01:53 PM | Reply | Flag:

I miss the days when Republicans celebrated good economic news along with Democrats.

#23 | Posted by rcade

then you're like all the rest...all morning on fox business they have been saying good things about it.BUT they do mention the 85 billion dollars being printed EVERY MONTH....

.and even the jobs report.....sure they point out the FACTS like the not working pool and the rate is based on bogus criteria...just like libs said bush's was and all that but ALL MORNING they've called it good news..

now the heritage foundation is out with thread calling this and the unemployment numbers "good news for America"..

so you're assuming again....

#41 | Posted by afkabl2 at 2014-07-03 02:01 PM | Reply | Flag:

Well it's official Obama is the worst socialist ever. ;)

#42 | Posted by Tor at 2014-07-03 02:04 PM | Reply | Flag: | Newsworthy 2

taken from the Heritage foundation facebook page...

dailysignal.com

#43 | Posted by afkabl2 at 2014-07-03 02:04 PM | Reply | Flag:

AHHH ha ha TOR...funny stuff....seriously...funny..

one critic DID say.....after 6 years...it's about time....and he's right...

#44 | Posted by afkabl2 at 2014-07-03 02:06 PM | Reply | Flag:

because the primary unemployment rate looks good for Obama

Havent you been listening Rogers? ITS A FAKE NUMBER!! There are millions of unemployed people!!

#39 | Posted by boaz at

OH brother,.....it happens EVERY TIME>....

EVERYONE knows the rate is based on BOGUS information.....at least that's what YOU PEOPLE said during the "W" years......so what's changed ?

never mind ...we ALL know...just like ALL of you know if you used the same criteria you BEGGED for during those 'w' years, you'd KNOW THE RATE IS BOGUS as in it's really still double digits...

#45 | Posted by afkabl2 at 2014-07-03 02:11 PM | Reply | Flag:

I think it was Mitt Romney that said 47% of Americans would starve if you hid their food stamps under their work boots.

#46 | Posted by visitor_ at 2014-07-03 02:37 PM | Reply | Flag: | Funny: 1

#45 | POSTED BY AFKABL2 AT 2014-07-03 02:11 PM | FLAG: Yes the numbers have been massaged as much as the govt's phony inflation rates which they periodically change how calculated to 'keep' that number low. After all, they would not want to annually pay out to SS recipients the actual rate of inflation.

#47 | Posted by MSgt at 2014-07-03 02:51 PM | Reply | Flag:

EVERYONE knows the rate is based on BOGUS information.....at least that's what YOU PEOPLE said during the "W" years......so what's changed ?

Shirley...you can do better.

EVERYONE?

The reasonable ones (people able to reason for themselves) know that it is a reasonable estimate.

The fifth straight month of +200K job growth. Not boding well for the nattering nab00bs of negativism.

BTW- The Bureau of Labor Statistics is an independent agency that conducts scientific random surveys.

www.bls.gov

#48 | Posted by donnerboy at 2014-07-03 02:53 PM | Reply | Flag:

ITS A FAKE NUMBER!

That's a crackpot thing to say. The unemployment rate, also known as the U3, has been the most relied upon measurement of unemployment used by the entire world for a long time.

#49 | Posted by rcade at 2014-07-03 03:01 PM | Reply | Flag: | Newsworthy 4

I miss the days when Republicans celebrated good economic news along with Democrats.
#23 | Posted by rcade

Rcade, fat chance of that. There'll probably be some profit taking on Monday and the posterior "I told you so" from the conservative clowns. These patriots will be spending the long weekended to sharpen their axes and preparing their anti-Obama rhetoric. What a bunch of sad losers.

#50 | Posted by CrisisStills at 2014-07-03 03:24 PM | Reply | Flag: | Newsworthy 1

I love that people post from cnsnews.com and expect to be taken seriously. The same people that write for that site are the ones who changed their report cards in school by erasing bad grades, writing different grades in pencil, and were then shocked when their parents saw through their ruse.

#51 | Posted by DCTexan at 2014-07-03 06:06 PM | Reply | Flag: | Funny: 1 | Newsworthy 1

The reasonable ones (people able to reason for themselves) know that it is a reasonable estimate.

The fifth straight month of +200K job growth. Not boding well for the nattering nab00bs of negativism.

BTW- The Bureau of Labor Statistics is an independent agency that conducts scientific random surveys.

www.bls.gov

#48 | Posted by donnerboy at 201

NOT ONE WORD proves me wrong....the rate is calculated today exactly as it was when it was wrong to the left......PERIOD....

and one more time...EVEN YESTERDAY I heard a host on fox business get vocally excited about the possibility of it hitting 17,000...

at least on fox, all of this silliness is not happening.....again the phrase I have heard repeatedly is "good for america"...

#52 | Posted by afkabl2 at 2014-07-03 07:17 PM | Reply | Flag:

I love that people post from cnsnews.com and expect to be taken seriously. The same people that write for that site are the ones who changed their report cards in school by erasing bad grades, writing different grades in pencil, and were then shocked when their parents saw through their ruse.

#51 | Posted by DCTexan at 2014-0

come back when you have a serious charge against that site instead of trying to be funny.

#53 | Posted by afkabl2 at 2014-07-03 07:19 PM | Reply | Flag:

a charge with FACTS...

#54 | Posted by afkabl2 at 2014-07-03 07:19 PM | Reply | Flag:

Thank "Quantitative Easing" a euphemism for printing money for the well connected. The $85 billion a month has never been curtailed to $65 billion. Instead a money laundering scheme has dragged smaller countries into the crimes of the US Federal reserve.

#55 | Posted by nutcase at 2014-07-03 07:37 PM | Reply | Flag:

Right said, Nutcase. The dollar has outlasted the euro -- the EU is all but waving the white flag trying to halt deflation. The light is green for us to print as much as necesary for as long as necessary. Good times are ahead.

#56 | Posted by DixvilleNotch at 2014-07-03 08:12 PM | Reply | Flag:

how is that connected to the almost nothing interest rates?

#57 | Posted by afkabl2 at 2014-07-03 08:12 PM | Reply | Flag:

America was once said to be the best poor man's country in the world. Now it can be said that America is the best debtor's nation the world has ever seen.

#58 | Posted by DixvilleNotch at 2014-07-03 08:14 PM | Reply | Flag:

How is it connected to low interest rates? We have massively propped up the value of the dollar by redeeming trillions of dollars of our worst assets at face value, without sparking inflation and high interest rates, and have brought our deficit down to a reasonable level. We've set a new benchmark; we can do it again, as necessary. We'll continue curtailing QE to offset the need to raise rates. We have quite a way to run now.

#59 | Posted by DixvilleNotch at 2014-07-03 08:25 PM | Reply | Flag:

For AFKABL2's benefit, I posted this on June 8th in response to MSGT's reference to an article from cnsnews.com:

"You posted something from cnsnews.com without any hint of irony or sarcasm. Was World Net Daily's site down?"

'"Study after study by the Media Research Center, the parent organization of CNSNews.com, clearly demonstrate a liberal bias in many news outlets – bias by commission and bias by omission – that results in a frequent double-standard in editorial decisions on what constitutes "news."
In response to these shortcomings, MRC Chairman L. Brent Bozell III founded CNSNews.com in an effort to provide an alternative news source that would cover stories that are subject to the bias of omission and report on other news subject to bias by commission."'

Beginning with the phrase, "Study after study" is from CNSnews' "About Us" page from their website.

Aside from all of that, L. Brent Bozell III is a serial liar when it comes to his editorials:

m.qctimes.com

#60 | Posted by DCTexan at 2014-07-03 11:24 PM | Reply | Flag:

The stock market is money trying to keep value.

The problem is that the actual businesses being invested in are not growing like the stock prices.

Think about it.... Where is all that wealth and business when you look out your front door? I sense a bubble forming.

Either the businesses need to catch up, or there will be a 'correction'.

Remember the housing bubble? Cause might not be the same, but a bubble is a bubble. Having said that, bubbles do not HAVE TO burst, but they usually do burst.

If the stock market was booming and it was reflected in booming business you'd see while driving through town, then I'd not be so worried. (Would still not be proof of no bubble, but would at least not be obvious proof of a bubble.....).

#61 | Posted by USAF242 at 2014-07-04 06:04 AM | Reply | Flag: | Newsworthy 3

Aside from all of that, L. Brent Bozell III is a serial liar when it comes to his editorials:

m.qctimes.com

#60 | Posted by DCTexan at 2014-

oh puuuulllease......now you HAVE to be joking...

after virtually every issue the facts are simple and easy to see...minute by minute accounting of not always what they say but by what they DON"T cover....tacit bias is as strong as any vocal bias...

try again tomorrow.

lol

#62 | Posted by afkabl2 at 2014-07-04 11:37 AM | Reply | Flag:

AND all the article said is they were pissed he had a ghost writer...
ooooo okay that's different,.....NOT..

thanks for the reply though,....MOST libs when challenged even slightly ever reply...

#63 | Posted by afkabl2 at 2014-07-04 11:40 AM | Reply | Flag:

#61

What a great post.

#64 | Posted by boaz at 2014-07-04 01:37 PM | Reply | Flag:

This is and always will be about free government money. I hope the cheerleaders will come back and have this explained to them when it all falls apart as this is a tremendous teaching opportunity.

Here's something for the cheer squad: how many trillion did we throw at the "problem" to get the Dow from pre-crash levels to 17k? Now explain to me how this is legitimate, sustainable growth.

#65 | Posted by Ben_Berkkake at 2014-07-04 04:51 PM | Reply | Flag:

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