Jon Stewart and Jim Cramer
I regularly watch Daily show online ... but yesterdays episode was something else !
Watch the full interview with Jim Cramer here - it is just too good. I wish there were more interviews of this sort in main stream media.
IMO there are two kind of journalists - the idiots who know nothing (the usual regulars on tv - about 95% of out there) and the ones who know & understand what the hell is actually happening. We cant expect much from the former other than soundbites after things happen, but when even the latter group (and Jum Cramer is one of them) dont do justice to journalism, then comedians like Jon Stewart seem to be the only way to go !
posted by Mridul at 4:07 AM
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Stewart is fun and the Daily show is sometimes nice to watch but at the end of the day, it too is part of the controlled dissent system that's the media these days.
It's a popularity contest and an attempt to increase viewership. Not a serious attempt to inform the public about anything. Television has ceased to be that and will almost surely never go back.
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.
I think the point of my post, and partly the point of Jon Stewarts attempt (imo) is being missed here in the comments ...
As financial journalists, CNBC the network and its anchors/reporters have a journalistic duty - which is above their responsibilities of making money for their network imo.(perhaps shocking to some ?).
They choose to ignore it ... and therein lies the fault imo. By their silence (whatever be the motive), they were becoming complicit with the fraud being pulled.
This silence could be either due to ignorance and stupidity - in which case, the network is to be avoided; or due to willfully ignoring what was going on (ad-revenue, etc reasons) in which case it is, atleast in my eyes, tantamount to suppressing evidence.
Jon Stewart might have his own reasons for going after CNBC; which are, imo, irrelevant at this point.
The issues he raises are very real and have to be investigated into, and which unfortunately no one in the 'real media' is looking into (iirc).
You could question his methodology, approach, motives, etc ... but we should not forget that he is not a journalist, even if he sometimes pretends to be one :-)
Whether he (mis)uses his show to take pot shots at others is not the point - what he raises is a very valid criticism ... and they are to be asked in current situation.
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