March 15
If you have not already watched Jon Stewart totally eviscerate CNBC’s Jim Cramer on Thursday’s Daily Show, please do. It is riveting television. Stewart relentlessly went after both Cramer and his parent network for furthering and masking our country’s financial problems by cheerleading bad stocks, ignoring fraudulent business practices and sucking up to lying CEOs, instead of doing what a credible news organization is supposed to do–investigate and expose them.
Since Stewart started his all out attack on CNBC more than a week ago, Cramer’s ratings have dropped 10%. Meanwhile, The Daily Show’s ratings have never been higher.
The interview was almost universally lauded for its honesty and hard hitting questions by media critics, many of which are usually swept under the rug or ignored by mainstream journalists, who are too wary to take on their own. Even White House enjoyed it.
The one hold out was, not surprisingly, pundit Tucker Carlson, who ironically dismissed Stewart as a “partisan hack.” Carlson, it should be noted, is probably still stinging from when his own CNN show, Crossfire, was embarrassed and later canceled following a guest appearance by Stewart, in which he verbally demolished Carlson worse than he did Cramer.
While that was previously the most famous example of Jon Stewart’s media crusade, it was certainly not the only time he has taken on the establishment for its failure to honestly report. Here’s a link to more videos of other members of the Media Elite getting caught in Stewart’s cross hairs.
Trevor Timm is a Blast Magazine staff writer
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?
It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is less guilty than most of the other financial media for their media efforts together with Wall Street, the politicians incompetent regulators for what has happened.
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.
It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is less guilty than most of the other financial media for their media efforts together with Wall Street, the politicians incompetent regulators for what has happened.
Thanks