I have to agree. Cramer grates on me and I'm not a fan. Stewart is hilarious and I am a fan. But this is like second-guessing weathermen. It's too easy.
weathermen aren't nearly as arrogant and I like the guy for entertainment value, but yes, its an easy target.
The person getting his arse handed to him is Obama as he makes a total disaster out of our fiscal policy -- putting political gain over economic reason. The business community has given him a resounding 'F' for his first 2 months.... Geithner would score an even lower grade if there were one... which is why Stewart, a hard core lib, has to come to Obama's defense on a regular basis. Where would Obama, the craptastic, in-over-his-head novice, be without Big Media propping him up? Probably hitting the links with Blago.
Wow, Jim Cramer just got completely depants'd on national TV. That was like watching the New York Yankees vs. The Bad News Bears... Stewart basically acted like he had just called a trouble making student into the principals office... I am embarassed for Cramer.
I feel a little bad for Cramer because I think for the most part, he knows his finance and knows what he's talking about. He's also incredibly akward in social situations and in interviews. There was a great Esquire artictle about him a couple months ago, I forget which issue, but it was a good inside look into how he thinks and how his show's producers usually are highly protective of him when it comes to interviews due to his social interaction problems. The fact that they let Stewart skewer him on TV is a little strange, actually.
you mean the ame "business community" that has driven this economy into in the ground? yeah, let's listen to them.
<object width="480" height="295"><param name="movie" value="http://www.youtube.com/v/J5HD2g3-kKw&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/J5HD2g3-kKw&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="295"></embed></object>
No, the same business community that has lifted America to be the most powerful financial nation on earth. How quickly some people forget... how quickly some people are willing to disrespect years of honest and productive work... read the WSJ sometime.
maybe we should listen to jp morgan and andrew carnigie, since they helped lift our position in the world. or maybe even henry ford. edit: this is in no way to be disrespectful of today's business leaders, just to point out how vague your rhetoric is
If John Steward (or anybody else) gets his investment news from Cramer and/or CNBC, then he is up ***** creek. 90% of invested dollars are professionally managed. Professional money managers do not get their stock tips from Cramer. They may watch Cramer for his entertainment value. 10% of invested dollars are managed by individuals. These I divided into two groups: investors (trying to get their 401Ks to cover their retirement costs) and traders (who are all cash whenever they take a vacation, if not at the end of each and every trading day). I can see traders watching Cramer to get an idea on what stocks he mentions since those stocks may likely see heavy trading the next day. Investors who watch Cramer should only do so for the entertainment value and not the stock picks or market analysis. Investors lack the perspective and market knowledge to understand what Cramer is saying (i.e. confusing entertainment with news/advice). John Steward is decidedly an investor. Steward is looking to blame Cramer and CNBC for not doing their due diligence and thus allowing his 401k to take a big hit. Somehow he expected Cramer and CNBC to see the sub prime mess years ago, when the SEC and smart money on The Street. This is foolishness to expect a news organization to be smarter than The Street. Arguably, Cramer and CNBC could have done a better job with the subprime new story in the last year, but the truth is that the goose had already been cooked by then. We had these same kind of stories back after Black Monday (Monday, October 19, 1987). People were pissed that they had lost so much money (which if they held their positions would have been regained in 18 months). These people, in truth, did not understand their risk tolerance and let their greed and ignorance of how the markets actually work get the better of them.
but swtig is making a point about our current condition, yes, its not the entire business community that has brought us where we are. so TJ makes a decent point, but at the same time, the business community that has made america a superpower isn't the same business community today and so just saying, business is what made us great doesn't really apply to 2009.
Probably true, but Stewart should and does get points for being the first - and in some cases, still the only - one to do it...plus in an entertaining way. And beyond that, while easy in the sense that they're always someone who did something stupid in hindsight, it actually isn't that easy. The common layperson in today's world actually doesn't have the time to do it themselves. And finally, to a degree, while it is mostly just hindsight bashing, it does point in the right direction in regards to whom to believe going forward....which weatherman to start ignoring. While that may not tell you whether or not it's supposed to rain tomorrow, it certainly helps point you int he right direction in regards to who to go to get that info.
He did look afraid and stiff in the interview. I gained a little more respect for Cramer after the interview. There's a lot of public anger against the financial world and he was its effigy. I can't say he's too honest, but who is when they work in that field... Stewart rocked but his anger got the best of his arguments. I wish more people knew what he was referencing instead of wholeheartedly nodding to it. If anything, we should be moved into demanding accountability and bringing frauds and shysters to justice rather than building up a Ken Lay and Madoff and immediately proclaiming the end of bad business.
Again, I think you're mostly right. But if you look at some of the original clips that started the feud, it's not just Jon being upset that Cramer & Co. couldn't see the buildup over years and predict an eventual fall (though it is some of that), it's also (i) literally saying buy and healthy on some companies days before bankruptcy, and (ii) the network preaching to be some kind of fallback anchor of advise for people in times of trouble. Granted, you're undoubtedly right in that nobody really takes advise from Cramer...but then, a large % of Americans do seem to know who he is, he does get decent CEO's on, and have people call in and ask questions, etc. At the beginning of the interview Cramer said something that was actually right - some guys admit they make mistakes on some calls, and some guys don't, and the guys who say they're perfect are liars. I think Stewart is asking for more of that kind of honesty both on his show and on the network.
funny how you failed to mention how vague t_j's rhetoric was in his original post to which i was replying.
