THIS HELPS EXPLAIN THE ECONOMIC MESS ...

As many of you know, I regularly receive market updates from a number of market "analysts" trying to sell me/everyone their forecasts and pre-packaged intruments. Some of the analysis is good, but most of it is pure self-promotion and self-serving. They do, after all, want to sell you stuff.

This morning I received the following solicitation from Newsmax ...

Dear Newsmax Reader:

As John McCain has soared in the polls after picking Sarah Palin, the Obama campaign has engaged in a vicious smear campaign against her. Obama has likened her to a "pig with lipstick" and the Wall Street Journal reports that 300 liberal journalists have descended on Alaska in an effort to dig up dirt on her ... You can help defend Sarah Palin from such vicious attacks ...

There's a couple of things that need to be pointed out here.

First, "300 liberal journalists" haven't "descended" on Alaska. What's happened is that, prompted by McCain's failure to vet and make available his candidate, the press has determined they need to go out and get the information themselves. The last time I checked the 1st Amendment makes it clear that this is both legal and constitutionally protected. If McCain hadn't panicked and picked Caribou Barbie without vetting her this wouldn't be happening. McCain's to blame for the mess he's whining about today.

Second, Newsmax is using their mailing list, which is quite extensive, to peddle lies and innuendo. This fits their M.O. ... using their list to dump garbage off on less than informed customers. You can bet your lipstick pack others are doing likewise.

Third, these guys can't even get their quote right. It's "putting lipstick on a pig" not a "pig with lipstick." But what's a simple fact-check when you're peddling lies? This, unfortunately, is what happens when you watch too many Porky's movies.

Finally, Newsmax is demonstrating it has no clue about market performance under Democratic and Republican administrations. It's not even close. If these guys were smart, they would be pushing Obama-Biden. Don't believe me? Check this out.

No wonder the market is in such a mess. Newsmax and their kind are clueless ideologues who are not only fact-challenged, but clearly have no problem peddling half-truths and lies.

- Mark