Jon Stewart vs. Mad Money.
March 13th, 2009
Jon Stewart is an institution. Secure and generous, he has, without fear of being eclipsed, launched the careers of other great talents like Steven Carell and Stephen Colbert. But because Jon has always been so funny and quick, he often derailed interviews that seemed to be on a revelatory track. Thankfully, the financial collapse triggered the moral outrage and prosecutorial chops that lurked beneath the wit. Stewart manages to keep his anger in check — as a result, there are no trip-ups in this unabridged three-part interview with money-man Jim Cramer.
Cramer, along with his employer, CNBC, had the ability, and opportunities galore, to help stem the financial collapse. They chose not to — as Jon makes clear.
This is a must, but unlike so many musts, it’s a joy to behold. Maybe it’s the unexpected that makes things like this work. Nobody expected Nixon to go to China. And nobody expected Jon Stewart to go for the throat.
March 14th, 2009 at 12:31 pm
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?
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.
March 19th, 2009 at 10:43 am
Was fantastic to watch, and long overdue. Love the Nixon/China/throat comparison.
At the risk of obvious self-promotion, here’s a little something about the hidden link between Stewart and Cramer, a comedy writer who discusses Cramer’s failings in his forthcoming book:
http://tinyurl.com/d589u9
March 29th, 2009 at 5:58 pm
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