Unless you were on Spring Break in Panama City or still nursing a week long hangover from Mardi Gras, you probably saw a ton of news, criticisms and overall cheers that Jon Stewart roasted one Jim Cramer. The host of CNBC’s Mad Money finally got called out on his over the top investment show.
As a trader and someone who has watched CNBC on a near daily basis since 1998, I can honestly say I’m disappointed in the content change of CNBC within the last year or two. With the exception of a few CNBC personalities and one show in particular, I find little value in watching what I call “Jerry Springer for a higher tax bracket” for anything but the breaking news and the rare interview with fund managers who actually know what they’re doing.
That said, I remind everyone that Bloomberg has free online streaming video and works as a great substitute for CNBC. They routinely interview the same people, so it’s not like you’re missing much in terms of content. It’s relatively boring and people don’t talk over one another during interviews like 1st graders, but hey… that’s what live business TV is supposed to be like!!!
If you’ve ever watched HGTV and carefully watched a Realtor during the “convince the buyer to buy” phase of the show, this link is for you. WalletPop found a nice video in the Hulu archives of a Realtor pitching interest only loans.
Patti Maes and Pranav Mistry demonstrate the next evolution of personal computers at Ted Talks. Cell phones and PDAs are already obsolete considering we’ll wearing the computer and interfacing with anything that you desire within a decade. Pretty soon, these things will be imbedded into our craniums.
The Business Pundit has an interesting find about a wife actively marketing her unemployed husband. Clever idea indeed.
My Two Dollars nicely sums up an issue I encounter on a frequent basis. Maybe I’m just turning into a grumpy old man, but I can’t foresee a reason why anyone would pay $100 for a lame Tshirt.
Being a self confessed YouTube addict, I found this old CountryWide commercial highly entertaining. Allow me to paraphrase:
If you’ve been turned down because other lenders can’t verify your income, and you still want to buy a home you can’t afford – come see us! We’re giving money away to get our commission check and we’ll worry about crashing Fannie Mae and Freddie Mac later!!!
I only participated in one blogging carnival last week at the Carnival of Personal Finance. Over 90 posts last week, so lots of good stuff here.
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Thanks man. CNBC is getting really bad with the yelling and constantly talking over one another, so there are a few similarities. I wish they would clean that stuff up and do some real business news like the old days.
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Stewart was brilliant. Cramer was pathetic. Sadly, most broadcast news is no longer informative or hard hitting. Many of the big media outlets basically serve up what you’ve described as “Jerry Springer for the higher tax bracket” or politicos or right wing or left wing or Entertainment Tonight style reporting.
Case in point: Michelle Obama’s arms and sheath dresses. I like the new pres and his wife, but really, who gives a damn about “who she’s wearing” and her biceps? This should be buried in the Sunday style section, not the leading headline.
Stewart called CNBC on the carpet for their negligence and possibly deliberate lies regarding the run up to the Wall Street manufactured financial crisis. Cramer took it on the chin because he was hubris filled enough to 1) believe his own hype and 2) take on a fight that wasn’t initially about him. I felt empowered with every subsequent Daily Show episode at this particular celebrity death match unfolded. (Btw, the Dora the Explorer bit was off the hook).
It’s a sad state of affairs when comedians have become the voice of reason and the voice of people while the “journalists,” commentators, “experts” and politicians have become sideshow barker buffoons. As a result, my main news sources are the HuffPo, Stewart and Maher. I don’t consider these to be legitimate news sources either, but they’re a helluva a lot closer to it than the “legitimate” news outlets presently are.
Rock on, Jon.
Dr T
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No kidding – I was shocked Cramer was so humble. I actually flipped the channel mid-interview since it turned into a non-event.
What Cramer followers don’t get is that he’s a trader, not an investor. So if you hope to make money with him, you have to watch him everyday and sell when you have a profit. If you miss a day of his show, you better read the online transcript later that night.
I’m sure the “deliberate lies” were on the part of the CEOs, not CNBC. CNBC is media outlet, not an investigative journalist these days. Then again, it’s sad that you can have CEOs from Bear Stearns or Enron come on national TV and spew their lies just to temporarily calm the sell off in their stock. Personally, I think certain CEOs should be tarred and feathered so public humiliation can give other CEOs a moment of pause before doing it again.
The best comedians are/were current event commentators. Lewis Black, Bill Maher, Jon Stewart and the greatest of all time — George Carlin. Mainly b/c most people are so stupid they can’t see through the good government BS and the corporate advertising facade.
As for fluff news, it caters to those who really don’t have much of a clue or lazy producers who need to fill content gaps. Who cares what type of dog the President has… and that’s still getting press.
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10:34 pm
“Jerry Springer for a higher tax bracket”
This was brilliant!!
You had me going, i thought they might actually say that in the video =)
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