I have a JVC 47" LCD Tv turned it on today no picture or sound? A blue blinking light telling me its on, no menu .... nothing...

JVC LT-47em59 47 in. TV

unplug tv for 10 to 15 seconds, plug in then hold down menu and vol+ buttons.
wail holding down keys press power button one time then after 3 seconds release menu and vol+.
note: the instructions I read said menu and vol- buttons. after 45 min I used vol+ and it worked

First, look at the screen in darkened room to see if you can see any slight glow from the screen, if it does, then the problem can be the T-CON (not getting the 12vdc) or the main logic board not feeding the signals to the T-CON board.
if not, next place to check will be the power supply module, make sure it has 24vdc which is required by the backlight inverter to work, the reason for not having 24vdc can be from bad DC filter caps (leaking/bulging top, high ESR) or short circuits in the inverter board which will cause the 24vdc supply to go into shutdown mode, so you may have to disconnect the power cable that feed the inverter board to see if the 24vdc will work without the inverter board hookup, you will need to apply about 3~4 amp of load to the 24vdc to make sure it can handle that. There are fuses on the backlight inverter boards also. So there are some troubleshoot you will have to do to find out the causes of the problem you are having.

If you are going to DIY and have proper tools, electronics knowledge, and know safety precaution then please read on:

Please see my basic troubleshooting guide here:
http://www.fixya.com/support/r5093881-lcd_flat_panel_tv_troubleshooting_guide

http://s807.photobucket.com/home/budm/allalbums

http://en.wikipedia.org/wiki/Capacitor_plague

Parts: www.shopjimmy.com
Capacitors kit: http://lcdalternatives.auctivacommerce.com/Default.aspx