The March 12th edition of "The Daily Show" with Job Stewart should be required viewing for journalists AND media owners and anyone interested in truth in news and commentary, for years to come.
CNBC set itself up as a credible source of business news. In the event, they were anything but.
We could be asking the same questions here in New Zealand. Why do our newspapers appear to be trying to suggest (my impression and again)it's a good time to buy property, even as job losses mount and the global downturn here is really just getting underway. Sure, they need the ad revenue and newspapers are struggling everywhere. But if they sacrifice their credibility, they stand to lose everything.
Jon Stewart asks all the right questions. To his credit, Jim Cramer takes the hits and responds with candor and doesn't ry to dodge any of the bullets coming his way.
Watch this if you haven't seen it. The end of the first segment should give you an opportunity to click through for the next two parts.
Also below is a clip of White House Press Secretary, Robert Gibb, commenting on the interview: "I Enjoyed It Thoroughly"
Daily review 15/09/2025
4 hours ago
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.
Anon: Stewart's argument was very clear: This isn't about Cramer alone. It's about any media that put themselves forward as being competent and prove to be NOT competent.
ReplyDeleteThey didn't bill themselves as "best source of entertainment about business".