Jon Stewart Continues His Smackdown on Market-Worshipping Jim Cramer and CNBC
Posted by Isaac Fitzgerald, AlterNet at 12:00 AM on March 12, 2009.
http://www.alternet.org/blogs/video/131159/jon_stewart_continues_his_smackdown_on_market-worshipping_jim_cramer_and_cnbc/ (http://www.alternet.org/blogs/video/131159/jon_stewart_continues_his_smackdown_on_market-worshipping_jim_cramer_and_cnbc/)
The fight between Jon Stewart and CNBC started out with a "brutal, but utterly hilarious" attack on Rick Santelli's infamous rant against homeowners, and an insightful look at just how wrong CNBC got it in the days and months before the econopocalypse:
Stewart aped Santelli's newsgrabbing shouty-faced blubber from the Chicago Mercantile Exchange, coyly admitting, "I have to say, I find cheap populism very arousing." And then, for eight minutes, Stewart at his arch best (with the help of the crackerjack Daily Show research team) went on an absolute tear and burned CNBC right down to the doorframes. "If only I'd followed CNBC's advice, I'd have a million dollars, provided I'd started with a hundred million dollars."
The Stewart clips are utterly hilarious and quite smash the blowhards at MSNBC in their pompous butts. Great stuff!! --- Nichole
Cramer and his backers have overlooked the point Jon was making. Cramer has been complaining that Stewart got his facts wrong when, in fact, the point was that the people doing these financial shows are out of touch with average people and they don't accept that the advice they are spouting ought to be delivered in a more temperate fashion and with the thought that some viewers are ordinary people who are going to die if they lose their last $10,000 because commentators make it look so easy and painless.
A lot of the advice is "put all your money on pig stockings. In the next year, Pig stockings stock is going thru the roof!" Most people should be putting their money in safer long term choices.
Jon Stewart is my hero.
I went back and watched him on some other shows like Crossfire, Larry King, and Bill O'Reilly. He is amazing and it's a little sad that he's the only one calling people out for the crap journalism that they are touting as truth. Here's the Crossfire link.
jon stewart on crossfire (http://www.youtube.com/watch?v=aFQFB5YpDZE#lq-lq2-hq)