Stewart vs. Cramer

I know everyone on the planet (or at least 2 of you) have been anxious for my take on this. Here it is in brief..

Jon Stewart is really bright, but so is Cramer…they are both serving their markets. What the Daily Show does is serve an underserved market for truth in media, but it does it with comedy, which should illustrate how starved we are for some measure of truth…. I cannot think of another show that has the market penetration it does that is not afraid to both praise and roast those that need praise and roasting. For every Jon Stewart, there are 10 Sean Hannity’s, and that is a problem. And I am not talking conservative vs. liberal, I am talking intelligent vs. stupid. The conservative side needs people that are less abrasive and more thoughtful, but just as aggressive to report on the real news. Overall, the media is a mess, and people tune into to the Daily Show because while it is gonna be riffing on things, the seeds of the stories ring true.

All said, I think Cramer coming on in the first place was a good thing for him to do, and to talk and sit it out was a good thing to do, but I doubt he will change his practices. I do think that we witnessed a historical interview. I don’t think Cramer is a bad guy, but rather just another squirrel fighting for a nut and selling it any way he can.

1 Comment

  1. 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 far less guilty than most of the other financial media for their 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.

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