I must say, I was stunned after watching Jim Cramer appear on the Daily Show with Jon Stewart.
Actually, it just seemed like Mr. Cramer just rolled over and died on the show, as Stewart picked him apart, showing damaging 2006 videos of Jim Cramer appearing to give shady or even criminal advice on how to cheat and manipulate the system.
Going in, I thought it was going to be a fierce debate, but Jon Stewart, a self-admitted layman, had too much ammo for Jim to overcome and it seemed like Jim Cramer was about to cry at certain points of the interview. He had no defense and basically was at the mercy of Jon Stewart.
My question is, since when is it possible for the former head of a hedge fund and financial expert, to get totally schooled by a comedian?
I kinda felt bad for Mr. Cramer and kinda wished he had challenged Jon Stewart on some of his generalizations, but I’m afraid Mr. Cramer didn’t come to fight. He was too paralyzed by the damaging videos Jon had in store for him.
Here’s the full interview:
One Comment
Ron
on 14th Mar, 09 06:03pm
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.