The pravda and nothing but pravda from the media. Now at Bob Brinker capitulation level

America’s Pravda is still negative on America.

Pravda is Russian for truth, and was the name of the lying press the communists used to push failed economic policies and ridicule and destroy Soviet thinkers.

The economic news continues to be slanted highly negative. President elect Obama is acting wisely forgiving and embracing different ideas as President Lincoln did. Lincoln brought prominent thinking opponents into his cabinet to broaden his government and Barack Obama seems to have Lincoln as a role model. That could explain his excellent command of the English language.

But the news media has spread fear and seems bent on killing the American economy to further hurt the defeated and lame duck Bush administration. The media is irresponsible as well as biased in favor of socialism and Americans will ultimately punish the media by further ignoring their form of “pravda.”

Record low housing starts are good news not bad news as European socialists and the America media pronounce. How else will we turn the economy around if we don’t stop building unnecessary housing so that the prices of homes can recover and abandoned housing can be fully rented?

Record decreases in oil and gas prices are great not bad for the American consumer who can now buy something American instead. Most of the money for oil leaves America much the way a foreign tax would drain the American economy. The media one sided mental block is illustrated by their failure to distinguish between core inflation/deflation and oil/gas price increases. In the past they ignored the increases and stressed core inflation because the media wants higher energy costs because in their "quasi religious mother earth belief system"… high prices reduce consumption and other environmental pressures making mother earth happier. Until the cold war Iron Curtain came down these sappy happy folks were telling us how much more environmentally correct the Soviet states were. Then we discovered the communists had destroyed their forests and were driving autos called Trabits which were as polluting as it would be for everyone to drive their lawn mowers to work.

We also discovered how the only way East Germany reduced environmental pollution was by building their power stations on the West German border so the winds would carry the Soviet block pollution into Europe. It is the type of sappy environmentalist thinking that puts all the California power plants on their eastern border to export California pollution to neighboring states.

Mark twain understood that kind of sappy media thinking:
"The mania for giving the Government power to meddle with the private affairs of cities or citizens is likely to cause endless trouble, through the rivalry of schools and creeds that are anxious to obtain official recognition, and there is great danger that our people will lose our independence of thought and action which is the cause of much of our greatness, and sink into the helplessness of the Frenchman or German who expects his government to feed him when hungry, clothe him when naked, to prescribe when his child may be born and when he may die, and, in fine, to regulate every act of humanity from the cradle to the tomb, including the manner in which he may seek future admission to paradise." Mark Twain

Benjamin Franklin understood American sappy media thinking too:
"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." Benjamin Franklin

Volatility is the name of the game due to the competing fears of recession and hyper-inflation. While hedge fund redemptions have subsided recently the fear the news media is spreading causes investors to seek to exit at prices they can say they broke even. An investor who followed Bob Brinker’s buy and hold forever advice and who got into the stock market in March of 2003 can often get out and break even on market rallies from this current level. We are at the Brinker capitulation level now and when his following has abandoned his sappy advice the market should be quite strong but less secure and hence more volatile.