The economic meltdown explained, Rick Santelli for dog catcher...

[drswift]

So, let's see if I understand all the concern over Cramer.

 

A stock picker (who is never 100% right) made a questionable comment about Bear Sterns a year ago (although he never told anybody NOT to sell). The same person later expresses his opinion about how the politicians are screwing up the economy, citing the free fall of the market. So because the guy who made a bogus statement about a stock now decides to speak out, we are not supposed to give his opinions any credence - on the authority of a comedian and a bunch of media snakes who don't even understand how the economy really works? Somebody should have told Warren Buffet to keep his comments to himself before he shot his mouth off this weekend. Hell, let's just hang them both for heresy.

 

Watch the whole video instead of taking John Stewart's word for it. http://www.thestreet.com/_rms/s/cramer-bear-is-solvent/video/cramermarketupdates/10407225.html#10407225

[Deadboy]

You obviously didn't watch tonight's Daily Show episode....he did in fact say to buy Bear Sterns 7 weeks prior (not one year prior) and Stewart showed the clip. Stewart did correct himself on the previous episode, but he was still much closer to accurate than the spin Cramer is trying to put on it.

 

Sounds like you need to relax a bit, the entire point of this was no one knows what is going on and the folks on CNBC and other financial networks who claim to be the source of all things business are quite possibly no better/more accurate than a comedy show....

[Lawman]

I guess nobody is permitted to get too concerned just because $3 TRILLION in wealth (which belongs us dumb slobs who actually put money into our homes, or invested in IRAs and 401Ks) vanishes in smoke. Instead, we're supposed to sit idly by (in the spirit of coming together) and watch the politicians go into hock for another $3 TRILLION that they don't have, borrowed from foreign governments that are not our friends, and then paid back with interest by your kids and grandkids.

 

BUT WAIT, there's more. Let's also tax everyone who uses energy to pay for more social programs for people who don't work, and to hire more government employees to push all the forms around.

 

Dave, In the "spirit of coming together" perhaps this will make you feel better..

 

http://biz.yahoo.com/usnews/090306/06_i_pay_my_mortgage_whats_in_the_housing_bailout_for_me.html?.&.pf=loans

 

You should feel good about being in a position to help your neighbor....

 

 

[beemerman2k]

I enjoyed Stewarts video lampooning CNBC and the Wall Street experts. And I love the point he is making.

 

Now, as far as left versus right media personalities? Call me strange, but I listen to them all.

 

First of all, these shows exist because marketers have figured out a better way to reach their target audiences with their product advertisements. Second of all, everyone of these people has something of value to say about how our nation is being managed and lead. So I feel free to take from everyone of these people. Even if I disagree, I want to hear them anyhow to see how my counter-arguments stack up against what they are promoting.

 

I think we would all do well to listen to all sides of the political spectrum. Listen, evaluate, consider, then move on and form your own, independent, opinion. Always reserve the right to grow in your understanding and do not bind yourself to a particular ideology or spokes-person. That's my policy anyhow.

[Ken H.]

I think we would all do well to listen to all sides of the political spectrum. Listen, evaluate, consider, then move on and form your own, independent, opinion. Always reserve the right to grow in your understanding and do not bind yourself to a particular ideology or spokes-person.

Oh come on, now you're talking sensible. We can't have any of that.

[drswift]

You obviously didn't watch tonight's Daily Show episode

 

Toche. I didn't. And it all seems cool to joke about the "financial experts" cause after all, the government knows what's best for you. What's not funny is was has happened to the retirement savings of millions of hard working folks. We tend to take this stuff personal, especially at age 59.

[Ken H.]

and Stewart showed the clip.

The entire unedited clip actually. It was pretty damning.

[drswift]

The entire unedited clip actually. It was pretty damning.

 

What's more damning is the president signing another bloated appropriations bill with $8 BILLION in pork, after all his great promises to change Washington!

[velomoto]

and Stewart showed the clip.

The entire unedited clip actually. It was pretty damning.

Yup... To listen to Cramer's recommendation to buy BS just weeks before it lost 97% of it's value is not just a case of "gee I didn't pick a winner". Think of it more as OMG - all my money's GONE!!!

 

But the point of Stewart is that the people at CNBC seem to to be taking themselves too seriously, or rather that they believe they have all the wisdom and answers. The clips presented by Steward paints a very different picture.

[Ken H.]

He (JS) was at it again last night. In response to the CNBC talking heads accusing him of cherry-picking clips and sound bites he resounded, “Of course! That’s what I DO for a living! This is a COMEDY show!” (Although at least one commentator had referred to TDS as a “Varity Show.”

 

I think it’s hilarious to watch all the stuttering and stammering going on, in particular by Jim Cramer, in response to a show that isn’t suppose to be taken seriously by anyone in the first place. I’m lovin’ it!

 

[velomoto]

I did find it funny how Cramer made it onto all the NBC channels... Frankly if I had been the one recommending BS at $65 I'd have just gone into hiding! Tonight O'Reilly and his guest from Fox Biz were going on and on about the Steward/Cramer battle and quickly attached it to the "main stream media" standing up for Obama. Could someone please tell me when the Daily Show on Comedy Central became "Main Stream Media"???

[Paul_Burkett]

I saw a poll back in Oct That said that about 40% of 18-25 y/os said The Dailey Show was their primary news source.

 

30 seconds after this poll came out.

[Whip]

I did find it funny how Cramer made it onto all the NBC channels... Frankly if I had been the one recommending BS at $65 I'd have just gone into hiding! Tonight O'Reilly and his guest from Fox Biz were going on and on about the Steward/Cramer battle and quickly attached it to the "main stream media" standing up for Obama. Could someone please tell me when the Daily Show on Comedy Central became "Main Stream Media"???

 

Not exactly the point that was made, but close.

 

Stuart Barney(formally from CNBC...NBC) now at Fox Business Channel said that if Cramer had been attacking Bush instead of Obama, JS would not have made fun of him nor would their dust up been picked up and broadcast throughout the "main stream media".

 

What part of Colorado do ya live.....the brew pubs sound like fun????

 

 

 

 

 

 

 

[Ken H.]

Jim Cramer is going to be on Jon Stewart's show tonight!

 

This should be great!

[marcopolo]

Jim Cramer is going to be on Jon Stewart's show tonight!

 

This should be great!

 

That's because he (Cramer) probably realizes that he's looked pretty silly up to this point and his strategy, such as it is, has only prolonged the agony. If he were only half as serious as he takes himself, why would he be getting into a battle of wits with a comedian like Stewart? At least by going on the show he might end it. I think he has forever harmed whatever reputation he had by this little fiasco.

[Ken H.]

I think it’s just hilarious that CNBC is taking Stewart more seriously than Stewart takes Stewart. What part of C-O-M-E-D-Y don’t they understand?

[velomoto]

Not exactly the point that was made, but close.

 

Stuart Barney(formally from CNBC...NBC) now at Fox Business Channel said that if Cramer had been attacking Bush instead of Obama, JS would not have made fun of him nor would their dust up been picked up and broadcast throughout the "main stream media".

Yes but Barney and OReilly couldn't seem to refrain from the regular bashing of the "main stream media"... IMO if Cramer hadn't fired back Stewart would've had to find different material for much of the week!

 

As for the Bush vs Obama - yes, absolutely. Stewart has no problem showing his preferences (and disapproval).

 

What part of Colorado do ya live.....the brew pubs sound like fun????

 

Northern Colorado - Fort Collins to be more precise.

 

There's no shortage of brew pubs and micro brews in this state. One thing I learned is to ask what size the samplers are BEFORE ordering a flight. When I ordered a sampler flight of six brews at this place: Altitude Brewery - Laramie, WY I was served six 6 ounce glasses of beer. Perhaps this is all fine for the local student population who can walk home, but I thot this to be a bit much for a 65 mile ride home on the scooter! The most difficult part was deciding which to drink and which to leave behind as all were good!

 

FWIW, there's a very good coffee shop walking distance from the Altitude brewery.