As a regular viewer of The Daily Show with Jon Stewart, I often see him taking shots at Jim Cramer who hosts the show on CNBC's Mad Money. Last week Stewart finally interviewed Cramer and drilled him about all the "shenanigans" and falsehoods that Stewart created.
Watch the full episode with Jon Stewart and Jim Cramer below...(Email readers may have to click here to watch)
I do agree that CNBC has a duty to expose the truth when it's obvious that CEOs have come on a show or news broadcast and boldly lied to a reporter's face. I believe the media has played a huge part in why our economy is the way it is right now. Many people watch the financial news and take in what's said at face value.
As I've said before, education is key in investing. Stop relying on the financial news and stop relying on people who disguise themselves as financial advisers for your education. Period.
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It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is far less guilty than most of the other financial media for their efforts together with Wall Street, the politicians & incompetent regulators for what has happened.
While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?
China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.
The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
Thanks,
Ron with 30 plus years in the investment business and banking industry.
Hi Ron,
I like watching Jon Stewart because he does question many of the things that the masses take at face value...besides the fact that it is just plain funny - and that's what we need right now, some good laughter.
I assume that if a financial network works on reporting news everyday would have some inclination of what's going on - or at least do a little bit more digging.
I appreciate you stopping by and sharing your thoughts and the Facebook link!
One of the best books to get insight into the nature of this problem is Confessions of a Wall Street Analyst by Dan Reingold. It mainly covers the time period from the mid-80's to the collapse of Worldcom.
I'm working on a blog-to-book that will pretty soon go over some of the nastier techniques used to move the market and why certain pathologies work and are shoveled to retail investors over and over again.
Hi knappador,
Thanks for the book recommendation. I started reading your blog. Very intriguing....I'm hooked!
Hey Maria, can I link your blog or something? What method is best?
I put up a new post and am working on another for today. I find myself wanting to diverge all over the place in light of current events, but need to keep my book material focused.
Knappador,
Sure, you can link to this blog! Just link to "Fully Stocked" using the main URL. I'm in the process of creating a new Blogroll right now and will be linking to you...