The following is a list of related stories at the Forbes.com website Monday Morning July 25, 2011 – the day after story about how the Debt Ceiling negotiations broke down and the Forbes’ commentary was on the repercussions of a default on the markets and the economy. But the related stories were the highlight for how wrong and openly biased each one is.
Debt Fears on Asian Markets – The Chinese markets ended the day up on HangSeng, down in Shanhai. Indian markets ended up notablybut then tanked Tuesday on Indian interest rate increases
What Happened to the $2.6trillion Social Security Trust Fund? – The moneys in this fund have been used to hold the best long term bonds, US Debt, since Ronald Reagan’s days. Now that default is being forced, Forbes decides to let it be known that maybe US LTDebt is not such a good investment.
Sheila Bair’s Legacy: Bailouts, Secrecy, and Power Grabs – this President Bush appointee is leaving office – read here for a more balanced appraisal of Bair’s years in office. Is this a Forbes’ warning to Obama administration, Midwestern women in high financial regulatory office are not wanted – think Elizabeth Warren as tentative appointee of CFPB and
On Washington, Investor Confidence at Zero – no argument except for the causes.
Debt Dilemma Hammers Stocks – well if a less than 1/2% decline in all three indexes is”being hammered” what happenedwhen Greek debt pulled market back by 2.12%
In sum, this and stories at Forbes read like Fox News, a propaganda blast for the Republican party. What has happened to the Forbes ye Editor used to subscribe to that had at modicum of balance and incisive stories on economic policy? Like the Chamber Of Commerce, Forbes has become as partisan as the politics in Washington – thus becoming a symptom and not solution for the National Policy quagmire – the litany of unforced errors taking the US out as a major Economic Power.