You really have to see this to believe it. It's a CNBC interview yesterday with Nassim Nicholas Taleb and Nouriel Roubini. Both men are notorious bears, and called the current crash long in advance. Both, CNBC tells us, were the hottest tickets at the recent Davos gathering. CNBC called them in to discuss the crisis. Roubini and Taleb were both trying to make their case for why what's wrong with the economy is radical, is fundamental, goes to the very base of all our economic assumptions.
The CNBC twits just wanted stock tips and investing advice.
Imagine a Biblical prophet showing up to say, "Repent! The end is nigh!" -- and people saying, "So, should I put that flat-screen TV I've been meaning to get on a credit card, or just save and buy it outright?
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Stevereno said:
"Rod, I think I would mostly associate myself with Adam's comments. I think you are being unduly hard on CNBC."
LOL. A shareholder? How does one be hard on a corporate mainstream media outfit? They need to be thrashed around. They spew a lot of drivel.
"Perhaps you may not be aware, but brokerages, financial institutions, trading floors, investment banks, and even commercial banks routinely have TV's in the office or very close to where they work which play CNBC constantly."
And it's on that very observation alone that we should trash CNBC. No wonder everyone is making terible moves. There's your problem.
"A very sizable chunk of the CNBC audience are these people, and the question that was asked was entirely reasonable given the audience."
....of mouth-breathers....
"There are tens of thousands of tvs tuned to CNBC in financial institutions across this country."
Once again....there's our problem. But wait...."tens of thousands"? Not according to the job cuts on Wall Street lately.
What's next, your observance of FAUX News and CNN in nursing homes?
At what point does this masssive fraud, massive swindle, this massive theft turn into mass murder? Americans are passing on at least 50 TRILLION in debt to a younger unemployed generation that today spends countless hours in front of TV games conditioning themselves to kill on impulse. How will the hungry, destitute and angry children react when commanded to pay off the retirees and pensioners? They might start by commanding the older generations to "Hurry up and die" - until the food riots come into full bloom. Folks, I am sad to comment, we are witnessing the end of the United States of America.
I saw this interview and was equally appalled. Sadly, media outlets have no economic incentive to disseminate the truth about the economy and potential problems like peak oil. CNBC is the worst offender because they pretend to be journalists but they are really just talking heads who have shows that promote getting rich quick ("Fast Money" and "Mad Money"). If they were journalists they would have been investigating the abuses on wall street and warning investors to get out of the stock market. Writers like Jim Kunstler were predicting the crash as early as 2005 in his book "The Long Emergency."
I thought I was the only one that was disgusted by the CNBC interviewers. I actually made a promise to myself to never watch CNBC again after seeing the interviewer. I did the same thing with fox a few weeks before this. Bloomberg normally waits till the end of the interview to ask for stock tips.
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