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Friday, March 13, 2009
Maddow on Cramer & Stewart
Quite a bit of bandwidth was taken up today, saying that MSNBC hosts had been advised to steer clear of the big Jon Stewart vs. Jim Cramer interview from yesterday. Either it wasn't true, or Rachel Maddow ignored the advice. And good for her either way. This was a fairly big story, a devastating take-down by Stewart of the whole cable business news game. CNBC may be related to MSNBC, but they shouldn't be immune to news stories about themselves.
Labels:
CNBC,
Daily Show,
Jim Cramer,
Jon Stewart,
Mad Money,
MSNBC,
Rachel Maddow
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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?
ReplyDeleteChina 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.
I don't think most people view CNBC as pure entertainment. The "NBC" part lends credibility. And you Ron, with your 30 years of experience know the difference. But lay people like me don't. In fact, I've only touched on the financial crisis on this blog because high finance leaves me bewildered.
ReplyDeleteI can't watch "Mad Money" because it just seems insane. Jim Cramer--who I've only watched when forced, such as at the tire place when waiting for my car to get done--is the opposite of entertaining, whatever that is.
Thanks for commenting.