Brawl Street: Get Ready to Buy Low! And Sell Die
"The weeklong feud of the century finally comes to a head."
Jim Cramer, the host of CNBC’s Mad Money, had to finally come to The Daily Show and admit his mistakes and ignorance while he and his channel kept on persuading people to “BUY, BUY, BUY” Wall Street stocks despite probably knowing some of the giant companies would declare bankruptcy anytime soon.
Cramer & CO. (the so-called financial analysts) knew the risk behind the madness but says he could do nothing since even CEOs were telling them lies after lies.
This is Jon Stewart and his guys at their best.
2 discussions:
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.
Well, Ron “with 30 years in the investment business and banking industry," I wonder how you enjoyed Cramer's show.
Your idea that "the financial networks exist to promote their advertisers financial and investment products" is ridiculous. Forget Cramer, watch this episode to learn what financial reporting should be or the limits within which infotainment or infomercial should run.
Financial networks are also ‘supposed’ to promote or protect the people and not the business alone. Cramer & Co. have been caught on camera. CEOs and bankers have been caught lying. Before the bubble went bust, many people thought "In Cramer We Trust", but see this is how people are cheated.
Probably you were wise enough to look at it as a form of entertainment, but many people weren’t. That’s why Jon suggested Cramer to learn the basics of reporting first. And the bankers, CEOs and all those brokers, who brought the economy to its ruin, should go back and learn ethics.
It’s not just Chinese concern, it’s affected everybody. That’s why I posted this show for the first time on my blog. We got to expose those responsible for the fraud and mismanagement. And we look to journalists and TV hosts to tell us the truth.
Many people have lost their jobs and money. I wonder why Cramer still has one. I don’t think people can enjoy CNBC anymore. The point is preserving and increasing transparency in the corporate world will help people, if nationalizing the troubled banks is seen as one more step toward socialization.
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