It’s Friday, and I thought it might be fun to watch Jon Stewart taking on Jim Cramer who says "Everyone got it wrong":
So we want to know what you think, about this video or anything else housing related. This is an open thread:
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I thought that Stewart had Cramer for lunch. That said, it should be clear to folks that there’s a limit to how hard CNBC is going to grill the guys that are their sponsors.
Stewart lambasts Cramer for taking what he hears out face value and not digging in deeper for the truth. The same could be said for some of his viewers though. There’s always a big risk in investing what you do not understand.
Igor is “bugged”, but that’s what he gets for investing in stocks because a celebrity pitched them. He’s just lucky that battling spam is recession-proof work!
i had been lookin forward to last night’s show due to the overhype this “rivalry” has got in the media the last few days. i thought that stewart would go easy on cramer and it’d be very light. i was actually impressed that he just continued to push the issues and even aired those clips the cramer admitedly “never thought would be on tv.” LOL!!! in fairness though to cramer…..he’s an entertainer, just like stewart. if anyone lives and dies by his stock picks, then they are the fool.
Cramer always seemed to me to be overly impressed by growth, too dismissive of debt and easily impressed by CEO’s as demonstrated by his “Wall of Shame”.
He can be entertaining though.
Wow, I just finished watching the full interview on the daily show website & I am just amazed at Jon Stewart. He completely dismantled Cramer. I am so impressed. & I love what he said about CNBC, catering to the worst in people. When really they would have a ton more viewers if they actually took the time to truly educate people about the real market.
Hey, twist, did you hear about this frivolous lawsuit by Re/Max?
http://www.charleston.net/news/2009/mar/07/its_big_guy_vs_little_guy74198/
i suppose if you can sell “it’s a great time to buy” whether housing is goin up, down, or is stable, then i guess you can see how “re/max” looks jus like “rehava”?????? i don’t think they look remotely similar.
yes igor….it’s “silly”
I really started to respect Stewart after seeing their first show after 9/11.. sure its a comedy news program, but he seems very intelligent and just as frustrated as the rest of us over the monkies we have in charge. And the saddest part? The Daily Show seems to be better at journalism than most of the news shows. I don’t see the other news stations airing clips of what people have said in the past and basically ask them if they were lying then, or lying now. I mean, look at the housing bubble.. the blogs were one of the few outlets that bothered to question things. The newspapers and tv shows were just reading what the NAR gave them. Sad.
And it amazes me people listen to Cramer.. that guy is one step above an infomercial host. I’d rank him just above the Shamwow guy, but below Billy Mays.
Linenoise-
I’d find CNBC a lot more entertaining if they did pull clips of things that analysts and CEOs said a year ago. I’d love to see guys nailed to the wall for talking their book quarter after quarter.
I guess that’s what the blogs are here for- [I believe that we were the first ones in the blogosphere to post Cramer's hedge fund "confession".] but I have to admit, CNBC has better access to video clips than we do.
twist -
Here’s one major source trying to get populist credibility. By the way, Canadians can’t access Daily Show stuff from links like the above
(I don’t know how come Igor is “irate.” He doesn’t come out of a .CA domain)
“CNBC Under Fire: Sticking Up for the Big Guy?”, by James Poniewozik, Time, March 12, 2009.
Stewart is, without fail, the smartest and most prepared interviewer on television — and he runs a damn comedy show. If the financial news networks (hell, if ANY news network) took their jobs as seriously as Stewart does, we’d all be much better off.
John-
Poniewozik has some good points. I remember Cramer’s rant when he said that government needs to do SOMETHING because people on Wall Street were losing their jobs.
On the other hand, I was in agreement with Santelli’s “tea party” rant. I also worry about “Obama-proofing” my assets. I can more easily protect myself from any foolishness on CNBC than I can from what Obama is doing.
This is an absolute must study data source for potential investors, and unlike the greatly touted books, CD’s, E-courses and seminars
It is absolutely free.
http://www.sec.gov/litigation/litreleases.shtml
Note the frequency of the following phrases or variations thereof:
1. The Defendants consented to the entry of the orders without admitting or denying the allegations of the Commission’s complaints.
2.The Court enjoined each of the Defendants from future violations of rule(..)of the Securities Exchange Act…
3.The Court ordered the payment of disgorgement, interest, and civil penalties
4. Give us some money and promise to play nice from now on, or you could be in real trouble.
You never mess with Jon Stewart,
http://www.youtube.com/watch?v=aFQFB5YpDZE
Cross fire was canceled 2 weeks later
Metro-
It’s good to see you around!
I wonder sometimes if Stewart doesn’t have a bit of an advantage being a comedian. I don’t know if you ever listened to the old group Peter, Paul and Mary. [They were before my time too!] They had a song called “I dig rock and roll music”. The last verse said:
By “laying it between the lines” of his comedy, Stewart can “really say it”.
twist, you fiend
———————————-
this version has the relevant text …
I dig rock n roll music
by dcck105
… by the way, Denny Doherty’s funeral (Jan ’07) took place just about 300 meters due west of where I’m typing this (“dejected,” like Igor)
John-
Thank you- I was thinking that I should try and dig up a video for youngsters like me that can’t remember back that far. : )
Twist, he totally has the advantage. If you watched my linked youtube video you will see that he is the only adult on camera, and he is way smarter and faster on his feet than the bozos he goes up against. It also helps to completely correct in his assessment.
Sorry I have not been around, I started a new job in August which totally blocks your blog. It also involves 3 hours of commuting which will soon end.
I’m always amazed that anyone expects the mainstream media to ‘be fair’, or introspective. The great media study, ‘Manufacturing Consent’ laid bare media principles many years ago.
Initially, the book (and the documentary) lay out the first, most obvious truth.. if a media is funded by advertisers, then its first interests are its advertisers, period.
If its advertisers are ‘conservative’ corporations, then its programming with reflect that, with few exceptions. One exception is that, after an unexpected ‘event’ or disaster, there is very often a period of truth-telling before corporate ‘flack’ and other filters set in.
In other words… why do we expect mainstream media to defend our interests as people, vs. their advertisers?