Showing posts with label CNBC. Show all posts

Monday, January 11, 2016

Bear Market: The Average U.S. Stock Is Already Down More Than 20 Percent - Michael Snyder THE ECONOMIC COLLAPSE blog

Bear Market: The Average U.S. Stock Is Already Down More Than 20 Percent

Posted: 10 Jan 2016 Michael Snyder THE ECONOMIC COLLAPSE blog

The stock market is in far worse shape than we are being told.

As you will see in this article, the average U.S. stock is already down more than 20 percent from the peak of the market. But of course the major indexes are not down nearly that much. As the week begins, the S&P 500 is down 9.8 percent from its 2015 peak, the Dow Jones Industrial Average is down 10.7 percent from its 2015 peak, and the Nasdaq is down 11.0 percent from its 2015 peak.

So if you only look at those indexes, you would think that we are only about halfway to bear market territory. Unfortunately, a few high flying stocks such as Facebook, Amazon, Netflix and Google have been masking a much deeper decline for the rest of the market. When the market closed on Friday, 229 of the stocks on the S&P 500 were down at least 20 percent from their 52 week highs, and when you look at indexes that are even broader things are even worse.

For example, let’s take a look at the Standard & Poor’s 1500 index. According to the Bespoke Investment Group, the average stock on that index is down a staggering 26.9 percent from the peak of the market…

Indeed, the Standard & Poor’s 1500 index – a broad basket of large, mid and small company stocks – shows that the average stock’s distance from its 52-week high is 26.9%, according to stats compiled by Bespoke Investment Group through Friday’s close.
“That’s bear market territory!” says Paul Hickey, co-founder of Bespoke Investment Group, the firm that provided USA TODAY with the gloomy price data.

So if the average stock has fallen 26.9 percent, what kind of market are we in?

To me, that is definitely bear market territory.

The rapid decline of the markets last week got the attention of the entire world, but of course this current financial crisis did not begin last week. These stocks have been falling since the middle part of last year. And what Bespoke Investment Group discovered is that small cap stocks have been hurt the most by this current downturn…

Here’s a statistical damage assessment, provided by Bespoke Investment Group, of the pain being felt by the average U.S. stock in the S&P 1500 index:
* Large-company stocks in the S&P 500 index are down 22.6%, on average, from peaks hit in the past 12 months.
* Mid-sized stocks in the S&P 400 index are sporting an average decline of 26.5% since hitting 52-week highs.
* Small stocks in the S&P 600 index are the farthest distance away from their recent peaks. The average small-cap name is 30.7% below its high in the past year.

After looking at those numbers, is there anyone out there that still wants to try to claim that “nothing is happening”?

Over the past six months or so, the sector that has been hit the hardest has been energy. According to CNN, the average energy stock has now fallen 52 percent…

And then there’s energy. The dramatic decline in crude oil prices rocked the energy space. The average energy stock is now down a whopping 52% from its 52-week high, according to Bespoke. The only thing worse than that is small-cap energy, which is down 61%.

If you go up to an energy executive and try to tell him that “nothing is happening”, you might just get punched in the face.

And it is very important to keep in mind that stocks still have a tremendous distance to fall. They are still massively overvalued by historical standards, and this is something that I have covered repeatedly on my website in recent months.

So how far could they ultimately fall?

Well, Dr. John Hussman is convinced that we could eventually see total losses in the 40 to 55 percent range…

I remain convinced that the U.S. financial markets, particularly equities and low-grade debt, are in a late-stage top formation of the third speculative bubble in 15 years.
On the basis of the valuation measures most strongly correlated with subsequent market returns (and that havefully retained that correlation even across recent market cycles), current extremes imply 40-55% market losses over the completion of the current market cycle, with zero nominal and negative real total returns for the S&P 500 on a 10-to-12-year horizon.
These are not worst-case scenarios, but run-of-the-mill expectations.

If the market does fall about 40 percent, that will just bring us into the range of what is considered to be historically “normal”. If some sort of major disaster or emergency were to strike, that could potentially push the market down much, much farther.

And with each passing day, we get even more numbers which seem to indicate that we are entering a very, very deep global recession.

For instance, global trade numbers are absolutely collapsing. This is a point that Raoul Pal hammered home during an interview with CNBC just the other day…

Looking at International Monetary Fund data, “the year-over-year change in global exports is at the second lowest level since 1958,” Raoul Pal, Publisher of the Global Macro Investor told CNBC’s”Fast Money”this week.
Basically, it means economies around the world are shipping their goods at near historically low levels. “Something massive is going on in the global economy and people are missing it,” Pal added.
The steep decline in 2015 exports is second only to 2009, when the global recession led to a 37 percent drop in export growth.

We have never seen global exports collapse this much outside of a recession.

Clearly we are witnessing a tremendous shift, and it boggles my mind that more people cannot see it.
As for this current wave of financial turmoil, it is hard to say how long it will last. As I write this article, markets all over the Middle East are imploding, stocks in Asia are going crazy, currencies are crashing, and carry trades are being unwound at a staggering pace.

But at some point we should expect the level of panic to subside a bit.

If things do temporarily calm down, don’t let that fool you. Global financial markets have not been this fragile since 2008. Any sort of a trigger event is going to cause stocks all over the world to slide even more.

And let us not minimize the damage that has already been done one bit. As you just read, the average stock on the Standard & Poor’s 1500 index is already down 26.9 percent. The financial crisis that erupted during the second half of 2015 has already resulted in trillions of dollars of wealth being wiped out.

When people ask me when the “next financial crisis” is coming, I have a very simple answer for them.
The next financial crisis is not coming.

The next financial crisis is already here.

An angry bear has been released after nearly seven years in hibernation, and the entire world is going to be absolutely shocked by what happens next.

Friday, January 8, 2016

7 Percent Crash Causes Emergency Shutdown of Stock Markets in China Twice in 4 Days - MICHAEL SNYDER CHARISMA NEWS

A screen showing the stock information after the new circuit breaker mechanism suspended Thursday's stocks trading, at a brokerage house in Nanjing, Jiangsu province, China. (Reuters)

7 Percent Crash Causes Emergency Shutdown of Stock Markets in China Twice in 4 Days

A screen showing the stock information after the new circuit breaker mechanism suspended Thursday's stocks trading, at a brokerage house in Nanjing, Jiangsu province, China. (Reuters)

Did you see what just happened in China? For the second time in four days, a massive stock market crash has caused an emergency shutdown of the markets in China. On both Monday and Thursday, trading was suspended for 15 minutes when the CSI 300 fell 5 percent, and on both days the total decline very rapidly escalated to 7 percent once trading was reopened.

Once a 7 percent drop happens, trading is automatically suspended for the rest of the day. I guess that is one way to keep the stock market from crashing—you just don't let anyone trade. Of course the panic in China is causing other markets to go haywire as well. As I write this, the Nikkei is down 324 points and Hong Kong is down 572 points.

The amazing thing is that trading was only open in China for about 15 total minutes. Here is how CNBC described what happened:

China's stocks were suspended from all trade on Thursday after the CSI300 tumbled more than 7 percent in early trade, triggering the market's circuit breaker for a second time this week.

That drop-kicked stock markets across Asia, which were already wallowing after a weaker open amid concerns over China's economic slowdown and its depreciating currency as well as falling oil prices.

On the mainland, the Shanghai Composite tumbled 7.32 percent by at the time of the halt, while the Shenzhen Composite plummeted 8.34 percent. The CSI300, the benchmark index against which China's new circuit breakers are set, plunged 7.21 percent. If that index rises or falls 5 percent, the market halts all trade for 15 minutes. If it moves 7 percent, trading will be suspended for the rest of the day. In total, Thursday, China shares only traded around 15 minutes.

How will European and U.S. markets respond to the chaos in Asia when they open?

That is a very good question. I think that everybody will be watching.

Already, the Dow Jones Industrial Average is down about 500 points for the year. The financial crisis that began in the second half of 2015 is now accelerating as we enter 2016, and nobody is quite sure what is going to happen next.

One key to watch is what happens with the S&P 500.

2000 is kind of like a giant line in the sand on the S&P 500. On Wednesday we saw the market hover around that psychologically-important number, and there is a whole lot of resistance right there. If we break solidly through 2000 and start plunging toward 1900, that is going to break things wide open.

The primary reason for the stock market crash in China on Thursday was another stunning devaluation of the yuan. This explanation from Zero Hedge is very helpful:

Following the collapse of offshore Yuan to five-year lows and decompression to record spreads to onshore Yuan, The PBOC has stepped in and dramatically devalued the Yuan fix by 0.5 percent to 6.5646. This is the biggest devaluation since the August collapse. Offshore Yuan has erased what modest bounce gains it achieved intraday and is heading significantly lower once again. Dow futures are down 100 points on the news.

PBOC fixes Yuan at its weakest since March 2011 ... with the biggest devaluation since August.

Meanwhile, we have received some other very troubling news about the global economy over the past few days:

The price of oil continues to collapse. As I write this, the price of U.S. oil is down to $33.26 a barrel. Those who follow my writing regularly already know that this is a really bad sign for the global economy.
The Baltic Dry Index just hit another brand new all-time record low. Global trade is absolutely imploding, and this is having a devastating impact on China and other major exporting nations.
U.S. manufacturing is contracting at the fastest pace that we have seen since the last recession. This is precisely what we would expect to see during the early stages of a new crisis.
U.S. manufacturing imports are also contracting at the fastest pace that we have seen since the last recession. It appears that "the almighty U.S. consumer" is not going to save the global economy after all.

In 2015, trillions of dollars of stock market wealth was wiped out globally. Now this new global financial crisis is picking up speed, and many of the "experts" seem absolutely stunned by what is happening.

But most of my readers are not surprised. That is because I have been breaking down the signs that have been warning us of this new crisis in excruciating detail for months. The financial carnage that we have witnessed around the globe this week is simply a logical progression of what has already been happening.

To be honest, though, even I have been stunned by what has happened in China this week. I can't say that I expected an emergency shutdown of the Chinese markets two times within the first four trading days of the year.

Panic and fear are beginning to grip the global marketplace, and once that starts to happen events become very difficult to predict.

Let us hope that things settle down soon, but I wouldn't count on it.

As I have said before, 2016 is the year when everything changes, and we are going to see things take place over the next 12 months that are going to shock the world.

Michael T. Snyder is the publisher of The Economic Collapse Blog and author of The Beginning of the End.

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Thursday, January 7, 2016

7 Percent Crash Causes Emergency Shutdown Of Stock Markets In China For The 2nd Time In 4 Days - Michael Snyder THE ECONOMIC COLLAPSE blog

7 Percent Crash Causes Emergency Shutdown Of Stock Markets In China For The 2nd Time In 4 Days Michael Snyder THE ECONOMIC COLLAPSE blog

Posted: 06 Jan 2016 07:37 PM PST

Once a 7 percent drop happens, trading is automatically suspended for the rest of the day. I guess that is one way to keep the stock market from crashing – you just don’t let anyone trade. And of course the panic in China is causing other markets to go haywire as well. As I write this, the Nikkei is down 324 points and Hong Kong is down 572 points.

The amazing thing is that trading was only open in China for about 15 total minutes tonight. Here is how CNBC described what just happened…

China’s stocks were suspended from all trade on Thursday after the CSI300 tumbled more than 7 percent in early trade, triggering the market’s circuit breaker for a second time this week.
That drop-kicked stock markets across Asia, which were already wallowing after a weaker open amid concerns over China’s economic slowdown and its depreciating currency as well as falling oil prices.
On the mainland, the Shanghai Composite tumbled 7.32 percent by at the time of the halt, while the Shenzhen Composite plummeted 8.34 percent. The CSI300, the benchmark index against which China’s new circuit breakers are set, plunged 7.21 percent. If that index rises or falls 5 percent, the market halts all trade for 15 minutes. If it moves 7 percent, trading will be suspended for the rest of the day. In total Thursday, China shares only traded around 15 minutes.

How will European and U.S. markets respond to the chaos in Asia when they open?

That is a very good question. I think that everybody will be watching.

Already, the Dow Jones Industrial Average is down about 500 points for the year. The financial crisis that began in the second half of 2015 is now accelerating as we enter 2016, and nobody is quite sure what is going to happen next.

One key to watch is what happens with the S&P 500.

2000 is kind of like a giant line in the sand on the S&P 500. On Wednesday we saw the market hover around that psychologically-important number, and there is a whole lot of resistance right there. If we break solidly through 2000 and start plunging toward 1900, that is going to break things wide open.

The primary reason for the stock market crash in China on Thursday was another stunning devaluation of the yuan. This explanation from Zero Hedge is very helpful…

Following the collapse of offshore Yuan to 5 year lows and decompression to record spreads to onshore Yuan, The PBOC has stepped in and dramatically devalued the Yuan fix by 0.5% to 6.5646. This is the biggest devaluation since the August collapse. Offshore Yuan has erased what modest bounce gains it achieved intraday and is heading significantly lower once again. Dow futures are down 100 points on the news.

PBOC fixes Yuan at its weakest since March 2011… with the biggest devaluation since August

A massive devaluation of the yuan was also one of the primary reasons for the market turmoil that we saw back in August. The Chinese are playing games with their currency, and this is causing havoc in the global marketplace.
Meanwhile, we have received some other very troubling news about the global economy over the past few days…

The price of oil continues to collapse. As I write this, the price of U.S. oil is down to $33.26 a barrel. Those that follow my writing regularly already know that this is a really bad sign for the global economy.

-The Baltic Dry Index just hit another brand new all-time record low. Global trade is absolutely imploding, and this is having a devastating impact on China and other major exporting nations.

-U.S. manufacturing is contracting at the fastest pace that we have seen since the last recession. This is precisely what we would expect to see during the early stages of a new crisis.

-U.S. manufacturing imports are also contracting at the fastest pace that we have seen since the last recession. It appears that “the almighty U.S. consumer” is not going to save the global economy after all.

In 2015, trillions of dollars of stock market wealth was wiped out globally. Now this new global financial crisis is picking up speed, and many of the “experts” seem absolutely stunned by what is happening.

But most of my readers are not surprised. That is because I have been breaking down the signs that have been warning us of this new crisis in excruciating detail for months. The financial carnage that we have witnessed around the globe this week is simply a logical progression of what has already been happening.

To be honest, though, even I have been stunned by what has happened in China this week. I can’t say that I expected an emergency shutdown of the Chinese markets two times within the first four trading days of the year.
Panic and fear are beginning to grip the global marketplace, and once that starts to happen events become very difficult to predict.

Let us hope that things settle down soon, but I wouldn’t count on it.

As I have said before, 2016 is the year when everything changes, and we are going to see things take place over the next 12 months that are going to shock the world.

Thursday, November 12, 2015

4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again - Michael Snyder THE ECONOMIC COLLAPSE blog

4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again

Posted: 11 Nov 2015 04:27 PM PST Michael Snyder THE ECONOMIC COLLAPSE blog

So many of the exact same patterns that we witnessed just before the stock market crash of 2008 are playing out once again right before our eyes. Most of the time, a stock market crash doesn’t just come out of nowhere. Normally there are specific leading indicators that we can look for that will tell us if major trouble is on the horizon.

One of these leading indicators is the junk bond market. Right now, a closely watched high yield bond ETF known as JNK is sitting at 35.77. If it falls below 35, that will be a major red flag, and it will be the first time that it has done so since 2009. As you can see from this chart, JNK started crashing in June and July of 2008 – well before equities started crashing later that year. A crash in junk bonds almost always precedes a major crash in stocks, and so this is something that I am watching carefully.

And there is a reason why junk bonds are crashing. In 2015 we have seen the most corporate bond downgrades since the last financial crisis, and corporate debt defaults are absolutely skyrocketing. The following comes from a recent piece by Porter Stansberry…

So far this year, nearly 300 U.S. corporations have seen their bonds downgraded. That’s the most downgrades per year since the financial crisis of 2008-2009. The year isn’t over yet. Neither are the downgrades. More worrisome, the 12-month default rate on high-yield corporate debt has doubled this year. This suggests we are well into the next major debt-default cycle.

Another thing that I am watching closely is the price of oil.

A massive crash in the price of oil preceded the stock market crash of 2008, and over the past year we have seen another dramatic crash in the price of oil.

Many had been expecting the price of oil to bounce back, but instead we are seeing new downward momentum. In fact, according to Business Insider the price of U.S. oil briefly dipped below $43 a barrel on Wednesday…

Crude oil was down nearly 3% in morning trade on Wednesday.
West Texas Intermediate crude oil futures in New York dropped to as low as $42.97 per barrel. Futures touched a $42-handle in the last week of October, but last traded near those levels for a considerable period in August.

Another thing that I am watching is the ongoing crash of other industrial commodities. This is something that also preceded the stock market crash of 2008, and it is a clear sign that global economic activity is really slowing down.

Prices for industrial commodities such as aluminum, tin, iron ore and coal are all crashing. But the commodity that has me most alarmed personally is copper.

Economists commonly refer to it as “Dr. Copper”, and there is a very good reason for that. Looking back over history, the price of copper often makes a significant move in one direction or the other before the overall economy does. And the price of copper almost always starts declining before stocks do.

As I write this, the price of copper has fallen to $2.21, and it is already lower than at any point since the last financial crisis. To get a better perspective regarding what I am talking about, just check out this chart. This is one signal that is absolutely screaming that a major financial crisis is imminent.

One more harbinger of financial doom on the horizon is the surging U.S. dollar. The U.S. dollar surged just before the financial crisis of 2008, and now it is happening again.

Most Americans don’t understand this, but the truth is that a rising U.S. dollar puts an incredible amount of stress on emerging markets all around the globe. Since the last financial crisis, many of these emerging markets have been on a massive debt binge, and much of that debt was denominated in U.S. dollars. Now that the dollar has increased in value, emerging market borrowers are finding that it takes much more of their own local currencies to service and pay back those debts. Defaults are rapidly rising, and emerging market economies all over the world (such as Brazil) have already plunged into recession.

If the Fed does follow through with an interest rate hike in December, that is going to make things even worse. The U.S. dollar will surge even more, and emerging markets will be in even more trouble.

At the same time that the dollar is getting stronger, the euro is getting weaker. An article that was posted by CNBC on Wednesday went so far as to state that “it is now looking like the euro reaching parity with the greenback is all but guaranteed”…

The prospect of the Fed hiking interest rates in December has pushed the dollar higher, and it is now looking like the euro reaching parity with the greenback is all but guaranteed.
Strategists, however, disagree on how quickly that will happen and how much more the dollar can appreciate in the near term. That depends, they say, on the Fed, and how fast it will raise interest rates in a world where other central banks are moving in the opposite direction toward easier policy.
Goldman Sachs analysts this week reiterated that they expect euro parity with the dollar by year-end though other strategists expect the decline in the common currency against the dollar to take longer.

Let’s see, who has been warning that this would happen for more than a year? Here are just a few examples…

July 19th: “For a long time, I have been repeating my prediction that the euro would fall to parity with the U.S. dollar.”

June 28th: “As I have warned repeatedly, the euro is heading for parity with the U.S. dollar, and at some point it will drop below parity.”

May 25th: “As I have warned so many times before, the euro is headed for parity with the U.S. dollar, and then it is going to go below parity.”

In August 2014, just a little bit over a year ago, the EUR/USD was sitting above 1.30. At that time very few people out there would have ever imagined we would be talking about parity just a little more than a year later.

This is just the beginning of a time of great financial volatility. The things that we are going to witness in the months and years to come are going to be absolutely unprecedented. A massive global debt super-cycle is coming to an end, and the pain that this is going to mean for the global economy is almost too great to put into words.

Tuesday, November 3, 2015

What You Need to Know About Media Bias and Isaiah's Prophecies - LARRY TOMCZAK CHARISMA NEWS

Republicans called out the media bias during the CBNC debate. (Reuters)

What You Need to Know About Media Bias and Isaiah's Prophecies

A "Cruz" missile exploded at last week's Republican debate on CNBC's most-watched program in 30 years. While maintaining a right spirit, may all of us follow the example of Senator Ted Cruz who reached the tipping point and decided to speak out regarding ongoing and escalating media bias towards conservatives and traditional values.

In case you missed it, let me replay what occurred as incompetent and mean-spirited moderators displayed their arrogance and received the pushback and humiliation they richly deserved. May this episode be a "first shot over the bow" in exposing what is so obvious to many of us and yet masses remain ignorant of how pervasive this unfairness is in the media today.

Our unashamedly born-again brother said the following: "The questions that have been asked so far in this debate illustrate why the American people don't trust the media. This is not a cage match. And if you look at the questions—'Donald Trump are you a comic book villain?' 'Ben Carson, can you do math?' 'John Kasich, will you insult two people over here?' 'Marco Rubio, why don't you resign?' 'Jeb Bush, why have your numbers fallen?' How about talking about the substantive issues that people care about? The contrast is with the Democratic debate, where every fawning question from the media was, 'Which of you is more handsome and wise?' Let me be clear: The men and women on the stage have more ideas, more experience, more common sense than every participant in the Democratic debate!"

His words emboldened the other candidates who also spoke up when they had their turn.

Rubio addressed ever-present media bias. Governor Christie called out the moderators for raising a stupid question about fantasy football ... "Wait a second, we have $19 trillion in debt, people out of work, we have ISIS and al Qaida attacking us and we're talking about fantasy football? Can we stop?!"

A reporter for USA TODAY, Rem Rieder, stated afterwords GOP accusations that "the media is deeply infected with liberal bias" and "often the attacks on the media are nonsense." Yet this time things were so blatant even he admitted there's truth to the claim.

May God use this experience to awaken scores to mainstream media's meanness and manipulation today. Last week's debate simply validated this fact as the clever moderators fired questions which were condescending, cruel and contentious. With a few exceptions, we no longer have historic, objective journalism in America. It's gone!

Journalism's icon, Ted Koppel, who was anchor of Nightline for decades stated recently in TIME Magazine we've entered a different era. In the interview he expressed that we are seeing "the end of neutral news."

He was asked, "Could a show like the old Nightline exist today?" "Apparently not" he responded.

CBS legendary anchorman, Dan Rather, has a movie in theaters presently titled Truth dealing with an episode in his past journalistic career. Let's face the fact that we are now living in a time prophesied in Isaiah 59:14, "So justice is driven back, and righteousness stands at a distance; truth has stumbled in the streets, and honesty cannot enter."

Understanding How We Arrived Here

The Bible teaches us in 1 John 5:19 that Satan illegally controls this present world and rules this kingdom of darkness. For hundreds of years, our beloved nation enjoyed a blessed reprieve from many aspects of Satan's reign because of the prevailing influence of the gospel and our Judeo-Christian foundations.

In the past few decades America has drifted rapidly away from our heritage as a predominantly Christian nation. While millions of us authentic Christians do our best to be salt and light and serve as a bulwark against the flood tide of evil, we are unfortunately losing ground. We pray and fast and believe for another spiritual awakening that can turn the tide but the meltdown continues.

The "prince of the power of the air, the spirit that is now at work in the sons of disobedience" (Eph. 2:1-2), exerts real diabolical power through the airways. Since Jesus labeled Satan a "liar and the father of lies" (John 8:44), those who are not under the loving Lordship of Jesus Christ are being influenced to do his bidding. Therefore, lies and deception permeate our culture in alarming ways with political leaders and personnel in media advancing his diabolical schemes.

Liberal ideas and anti-biblical values are increasingly dominant in our society. Why? Those who carry strong influence in our culture are those in academia, Hollywood and the media (Taylor Swift alone has over 50 million followers on Instagram!) Studies prove that these three spheres of influence are dominated by liberals.

Voting records reveal those in the media are overwhelmingly liberal.
Research concerning those in newspapers and print media reveals almost 9000 donors identify as "liberal" while 1750 donors "conservative."
Over 80 percent of educators in our top colleges and universities identify themselves as liberals or progressives. This is what it means to be "cool" or "hip" as a modern-day, politically correct professor.
The vast overwhelming number of celebrities in Hollywood and pop culture are clearly not conservative Bible-believing Christians. It's considered a "kiss of death" to come out as a conservative Christian living for Jesus Christ in Hollywood (although we thank God for those few who do!).

The primary reason behind the explosion of conservative talk radio is people became increasingly frustrated and fed up with the liberal bias in the media and an alternative was found. Thirty years ago there were approximately 125 talk radio programs, almost all of them conservative-based. Currently there are over 2000 talk radio programs in America and the overwhelming majority are conservative in content.

Current Examples of Blatant Media Bias

Here's the deal: We cannot live in denial regarding the critical condition of American journalism today. Fairness and objectivity are basically gone. There is a pretense of journalism presented amidst the liberal monopoly on the media. The vast majority of the media today contorts, conceals and counterfeits the truth. Partisan politics rules the day and we have to be discerning while looking for alternatives that bring forth a measure of truth.

Besides the recent Republican debate, how many of us have lamented the fact that President Obama and Hillary Clinton seem to get a pass or positive spin from the media no matter what they do?

Watching the recent Senate hearings on Benghazi with Hillary Clinton left many people's heads spinning after reading news reports the next day. Actual evidence exposing lies, gross negligence and incompetence was twisted by the majority of the media to convey a triumphant performance by Mrs. Clinton!

Likewise, her recent debate performance was hailed as "brilliant!"

Imagine what would have happened if they'd asked her tough questions:

Mrs. Clinton you told your family and the Libyan president that this was a terrorist attack and yet you conveyed to everyone else that it was some type of spontaneous video protest. Four patriotic Americans lost their lives even as they begged repeatedly for help. Are you lying about this?
How about the Clinton foundation and your megamillion book advance and all the money you raked in, yet you told people you left the White House almost broke?
When you repeatedly speak of a "war on women," what about the multiple women with whom your husband was sexually immoral and you led the charge to destroy them and their reputations? How about the lives of unborn women and recent Planned Parenthood harvesting of their body parts?"

Ain't gonna' happen!

My favorite columnist, Peggy Noonan of the Wall Street Journal said, "A generation ago, a person so encrusted in a reputation for scandal would not be considered a possible presidential contender. She would be ineligible ... Now she is inevitable!"

The other female running for president is conservative Carly Fiorina who basically gets a hit job in TIME Magazine. Next to a very unflattering picture is an article beginning with someone angrily yelling, "Stop spreading falsehoods!" two times. When referring to her expose' of Planned Parenthood, the article talks of regulars at her events carrying banners saying "CarLIE FIBorina!"

Additional quotes are: "She's not running on the truth" and "In the face of overwhelming evidence that her public statements are not accurate ..."

Fair and balanced, huh?

Where is the media coverage when Senator Harry Reid lied unashamedly stating that Mitt Romney didn't pay taxes for 10 years. Later he dismissed it nonchalantly as no big deal. Or how about last week when a CNN commentator, Sally Kohn, tried to push gun control by saying that "10,000 kids are killed by guns every year." The truth is that in 2014, 1,085 under 18 lost their lives (many were crime-related).

The mainstream media's meanness and manipulation has tried in the past to destroy the reputations of patriotic Americans like Ronald Reagan, Sarah Palin, Mitt Romney and others.

Now it targets primarily the current crop of Republican contenders for the presidency. Did you read USA TODAY this past Saturday and its three-quarter page expose' of Republican candidates Ben Carson, Donald Trump, Marco Rubio, Ted Cruz, Chris Christie and others in a strained attempt to find something erroneous in what they supposedly said?

Why is it that so many people today are looking to "outsider" candidates like Donald Trump and Ben Carson?

I am persuaded that individuals are desperate for the truth and these individuals are viewed as giving it to us unvarnished and straight from the hip. Whether it's the economy or immigration or ISIS or whatever the issue, scores of Americans are sick and tired of political correctness and manipulation by politicians and the press.

May patriotic Americans in increasing numbers follow the bold action of Senator Ted Cruz in refusing manipulation and capitulation to the biased media in our generation. Thank God for those faithful, conservative talk show hosts; the men and women of integrity behind the editorial pages of the Wall Street Journal; and, many of the brave Fox news commentators living morally and heralding the truth.

Harvard University, founded in 1692 to train ministers to proclaim the truth of God's Word, had this motto on its original seal, "Truth for Christ and the Church." May God help us to reclaim this motto in our day as His ambassadors as we pray and work towards another spiritual awakening to transform our land.

Larry Tomczak is a best-selling author of eight books with 43 years of trusted ministry experience. He is a cultural commentator whose weekly articles appear on sites reaching 26 million monthly. He is a public policy advisor with Liberty Counsel. Connect and view short video commentaries at larrytomczak.com.