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On “Mad Money,” Cramer back to normal – War Room – Salon.com
March 13th, 2009 [Financial, General, Television]
1 Comment »On “Mad Money,” Cramer back to normal – War Room – Salon.com.
Most disturbing:
The man himself wasn’t the only one trying to minimize the “Daily Show” interview on Friday. TVNewser reports that producers at Cramer’s sister network MSNBC were asked not to cover it during their own shows.
Uh, isn’t this similar to the very bullshit Jon Stewart was criticizing? This is news. Sorry, but it is. You don’t get to suppress it just because you’re a little embarrassed that it took a cable comedian to call your network to task for its role in the current economic meltdown.
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March 14th, 2009 at 11:17 am
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.