Investing in precious metals 101

Wow! Absolutely Must See!!!

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  • Fri, Mar 13, 2009 - 12:45pm

    #1
    castlewp

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    Wow! Absolutely Must See!!!

I have never seen this on MSM before.  John Stewart had Jim Cramer on last night and just destroys him and CNBC.

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

 

  • Fri, Mar 13, 2009 - 01:03pm

    #2
    Peak Prosperity Admin

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    Re: WOW! Abosulutely Must See!!!

I was getting ready to post a thread about this, but luckily saw yours first. I do suggest in the future to use a better thread title – I see way too many ‘MUST SEE’ forum topics. Something like ‘Jon Stewart vs Jim Cramer’ would be a lot more informative.

Anyway, step off soapbox…and back on another one…

It was, as Jon Stewart himself siad at the end, uncomfortable. BUT, it was right on. I think Jon Stewart gets written off as a comedian, but he does some pretty good interviews. His main point was that CNBC really did not perform as an investigative news organization; ignoring the problems that led to the financial collapse. Cramer had very little defense, although he was at a disadvantage being on Stewart’s home turf. I liked how Jon was pointing out that the CNBC pundits were, by and large, encouraging everyone to participate in the ‘sure-fire’ long term gains the stock market provides, but at the same time CNBC ignored how the financial market was really working behind the scenes, with a few players manipulating the market for their own short term advantage, which in the end, created a house of cards that fell down on all of us.His clip of Cramer from 2006 explaining how he did this in his hedge fund was pretty incriminating.

BTW it IS a MUST SEE.

 

  • Fri, Mar 13, 2009 - 03:14pm

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    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

I saw this clip this morning after and felt extremely uncomfortable watching it.  I like Cramer and it was a little unsettling to see him talk about shorting stocks and admitting he would never say it on TV.

 I think the timing of this attack is interesting though.  Cramer has been EXTREMELY critical of the current administration over the past 2-3 weeks and suddenly he is under attack. Coincidence? 

Denise

  • Fri, Mar 13, 2009 - 03:48pm

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    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

Cramer has singlehandledly caused lots and lots of ignorant people to lose a lot of money.  Admittedly these are people who get their advice from watching TV on the couch instead of reading books (except for maybe Cramer’s ridiculous book).  Still, a financial advice program is nothing to monkey around with so I resent his utterly shallow, shameless approach.  Anyone who prides himself on dispensing advice in a 20-second "lightning round" should be avoided like the plague.  Thus I was happy to see him skewered and I thought he looked like a groveling fool.

  • Fri, Mar 13, 2009 - 04:17pm

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    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

[quote=Denszcz]

I think the timing of this attack is interesting though.  Cramer has been EXTREMELY critical of the current administration over the past 2-3 weeks and suddenly he is under attack. Coincidence? 

Denise

[/quote]

When CNBC started touting ‘In Cramer We Trust", you know any self-respecting news comedy show has to take it as a challenge.

Now I have only watched Cramer a few times, but if you want to think of conspiracy, why not look at why Cramer so critical of the new administration, yet, evidently, didn’t challenge the poor oversight of the previous one?

  • Fri, Mar 13, 2009 - 04:44pm

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    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

[quote=Denszcz]

 I think the timing of this attack is interesting though.  Cramer has been EXTREMELY critical of the current administration over the past 2-3 weeks and suddenly he is under attack. Coincidence? 

Denise

[/quote]

Whatever you think the reason for the feud, I defy anyone to defend Cramer’s past actions or 2006 video given the facts. He cannot even defend his actions himself, as was obvious from this show.

I believe the build up to this has nothing to do with Jon’s feelings about Cramer’s attacks on the administration. Jon was spot on with his observations, and politics was not a part of any of it. It was about the BS they do behind the scenes.

While admire is a strong word to use to describe how I feel about Cramer, I have to say he took it like a man. He knew what he was walking in to, and honestly he earned a little credibility with me for facing the music. He knew he was going to get his face ripped off. Let’s hope his commitment at the end of the show was not just a retreat to get him off the stage. I may be a bit sappy about this, but I think Cramer has the stage to make a real impact if he chooses to follow through.

Too bad Dr. Martenson isn’t tonights guest of the Daily Show! What a 1 – 2 punch that would be!

Best,

Rog

 

  • Fri, Mar 13, 2009 - 06:03pm

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    Re: Wow! Absolutely Must See!!!

[quote=castlewp]

I have never seen this on MSM before.  John Stewart had Jim Cramer on last night and just destroys him and CNBC.

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

[/quote]

Brilliant!

  • Fri, Mar 13, 2009 - 06:08pm

    #7
    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

[quote=Lemonyellowschwin]

Cramer has singlehandledly caused lots and lots of ignorant people to lose a lot of money.  Admittedly these are people who get their advice from watching TV on the couch instead of reading books (except for maybe Cramer’s ridiculous book).  Still, a financial advice program is nothing to monkey around with so I resent his utterly shallow, shameless approach.  Anyone who prides himself on dispensing advice in a 20-second "lightning round" should be avoided like the plague.  Thus I was happy to see him skewered and I thought he looked like a groveling fool.

[/quote]

Lemon –

I agree with you in that is was nice to see Stewart hammer Cramer over his statements he made on tape.

However, Cramer did not hypnotize these people into taking any action.  They pushed the "Enter" button to make the trade with their brokerage.  Whatever happened to them was a result of their own ignorance and unwillingness to do their own research.  People who watch CNBC or Cramer or Suze Orman (or any of their ilk) for "investment" advice are lazy and looking for a get rich quick tip.  The information they dispense is "get rich quick" – but only for those on the other side of the trade of the people listening to Cramer or CNBC.

Blaming Cramer or CNBC or "someone" else is a typical reaction for people with no sense of accountability for their own actions who get themselves in a bind.

For those of you who missed it, I believe Comedy Central is going to reair at 8:00 PM EST tonight.

Subject duped here also:

https://www.peakprosperity.com/comment/23605#comment-23605

  • Fri, Mar 13, 2009 - 07:22pm

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    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

Dogs, that’s just what I said.  But he’s a charlatan . . . at least his program is anyway.  When people get stuck with snake oil, both sides of the transaction share some blame.

  • Fri, Mar 13, 2009 - 07:42pm

    #10
    Peak Prosperity Admin

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    Re: Wow! Absolutely Must See!!!

Lemon –

Six degrees of separation. 

The first sentence of your original post:

"Cramer has singlehandledly caused lots and lots of ignorant people to lose a lot of money." 

Cramer didn’t cause anything – the people who listened to him did it to themselves.  And I put 90% of the blame squarely on their shoulders – not Cramer or CNBC.

But like you said – we are likely arguing in the margins.

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