Stewart v Cramer -- The Face Off

David

David

Opinions are my own...
PREMO Member
After a week or so of back and forth between Jon Stewart and Jim Cramer over the credibility of CNBC as a financial news source, Cramer comes into the studio for a show-long face-off.

[hulu]_3TIApx3ymwKbAfZnz-MKA[/hulu]

When I first heard about this, I assumed it would be some trading of jokes before they kissed and made up. But, that's not how it worked out. It was a thoughtful and well executed interview/confrontation. Especially impressive were the video clips of a sober and lucid Cramer telling another man how he used to manipulate stock prices when he was running his hedge fund -- how easy it was and how it could be done with a relatively small amount of money -- how the regulators wouldn't stop you because they didn't understand it.

Cramer earns some respect by having the courage to come in.

Stewart makes reference to 2 or 3 guys who have been telling the truth about the financial crisis long before it was realized by the public. I believe them to be:

Marc Faber
YouTube - MarcFaberChannel's Channel

Jim Rogers
YouTube - JimRogersChannel's Channel

Peter Schiff
YouTube - PeterSchiffChannel's Channel

Faber and Rogers are very apolitical and I put the most credence in them. Schiff is more political, but none-the-less still tells a similar story.

It's probably too late to stop what's coming, but you can still be informed and prepare as best you can.

Not sure which of the three said it, but the feeling is that we can be looking at $20 hamburgers very soon.
 
Tilted

Tilted

..
David said:
Cramer earns some respect by having the courage to come in.

Stewart makes reference to 2 or 3 guys who have been telling the truth about the financial crisis long before it was realized by the public. I believe them to be:

Marc Faber
YouTube - MarcFaberChannel's Channel

Jim Rogers
YouTube - JimRogersChannel's Channel

Peter Schiff
YouTube - PeterSchiffChannel's Channel

Faber and Rogers are very apolitical and I put the most credence in them. Schiff is more political, but none-the-less still tells a similar story.

It's probably too late to stop what's coming, but you can still be informed and prepare as best you can.

Not sure which of the three said it, but the feeling is that we can be looking at $20 hamburgers very soon.
Click to expand...

As I've said in the past, Cramer can be very entertaining and he has a good understanding of how things work. I believe that he generally wishes to be helpful to his viewers, but sometimes that desire takes a back seat to the goal of being entertaining.

As for Faber, Rogers and Schiff - I've not heard Faber a lot, and can't offer an opinion on him. But Rogers and Schiff are great, and usually right on the ball. But the truth is that none of this is rocket science. It's all pretty easy to understand. And, many people have realized for quite some time what was coming - we may not have been able to pin down the timing or the exact embodiments - but you had to be fairly oblivious to not see these economic issues coming. (A lot of people were oblivious - largely because they have day to day lives that don't allow them to pay enough attention to what the big picture looks like - and not because they couldn't understand it if they did. In addition, I'm convinced there were many people who saw what was coming, but for various reasons it was not in their interests to point it out.)

You can only live beyond your means for so long. You can only indulge delusion for so long, before reality asserts its ultimate authority over a situation. The longer delusion resists reconciliation with reality, the more violent that reconciliation will be when it finally happens. We have indulged group delusion for a long time now, and we continue to indulge it at our own, and our children's, peril.
 
BoyGenius

BoyGenius

Cyber Bully Victim
Another one piles on.

The only personalities at CNBC who don't seem to be smoking the funny stuff before going on air are Mark Haynes, Steve Liesman, and David Faber. That's it. The rest of the forgettable bunch over there take dictation from Wall Street. Did CNBC cause the crash? Of course not. But the track record of empty-headed prognosticating and cynical sniping at anyone daring to take a more critical look at the economy speaks for itself. Until everything came unglued last fall, the economists Robert Shiller, who called the housing bubble, and Nouriel Roubini, who called the stock collapse, often served as pinatas for sundry CNBC cheerleaders trying to pump up the noise.
Click to expand...

Note to NBC's boss: Dude, try watching your own channel sometime | Coop's Corner - CNET News

:killingme
 
David

David

Opinions are my own...
PREMO Member
After the dollar and markets further collapse and millions of Americans have lost most, if not all, of their retirement funds and people are looking for blood, Cramer and the CNBC guys will be hoping that no one recognizes their faces in public. One woman called a radio show yesterday and told how their $1.1M retirement account was now worth about $400K. The real pisser is that if you're in cash, you can't make any money in interest. With the Fed keeping the rates down all these years, people had little choice other than to turn to the stock market. And if the Fed was honest, interest rates would be up around 12% now. Back in the 80's I was making 18% in my S&L account. I was a regular saver and stockpiled a ton of cash in a few years. Never went near the stock market.
 
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J

Joebagel

New Member
Do people forget that CNBC is a tv channel? The way they make money is by having people watch. and i am sure more people want to watch Cramer throw pies and hit gongs than want to watch some boring guy spell out the doom and gloom. The people who rely only on Mad Money to get their financial advice are probably the same people that rely on The Daily Show to get their news.
Being a successfull investor isn't easy, and if you dont want to put the time and research into it then you need to hire somebody to help. CNBC is a free channel and the old saying holds true - you get what you pay for.
 
Tilted

Tilted

..
BoyGenius said:
Funny how they haven't talked about this on CNBC...

"Financial media company TheStreet.com Inc. says it will cut 6 percent of its staff, or 18 positions, to reduce costs."

TheStreet.com to cut staff by 6 percent | KXNet.com North Dakota News

:whistle:
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They did report it. But frankly, it's a small cap company that made a few layoffs - it wasn't all that important of news. They certainly don't report on every layoff at every company - the connection to Cramer may have been the only reason they mentioned it at all.

TheStreet.com to cut staff by 6 percent
 
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