Do you watch Bloomberg TV?  Once the cable station went digital and Bloomberg TV was available I have never turned the channel to CNBC again.  The difference in quality of information is the same difference you would find comparing the local T-Ball team to the Yankees. 

That said, I have noticed the talking heads with few exceptions (Jimmy Rogers, David Tice) have been changing the tunes on a weekly basis.  Six months ago, (I will have to include myself six months ago) no recession, exports to the growing global economy will keep us from recession.  Ok, we were all wrong.  I fancy myself getting out of the denial phase faster than the herd and recognize this is not going to be your average recession.  I had inklings that the credit contraction was going to negatively impact the economy, just not too this degree. 

So when you watch the talking heads, BEWARE.  What is their track record?  What were they saying a year, six months ago?  Be skeptical, and the rewards will be great; fools will be parted from the money quickly.  I was ten years old in 1972 and that recession left a mark in the memory banks that is pretty clear.