The first, labelled by Jason Calacanis today as the 'most important video you'll watch this year' is of The Daily Show's Jon Stewart *completely taking apart* CNBC finance reporter Jim Cramer for being an unethical broadcaster (or as another Twitterer says, 'handing him his ass in a handbasket' - new favourite phrase alert).
It really is amazing to watch, and a focused and efficient assasination of Cramer's credibility.
Update: The video has been taken down by YouTube due to a copyright claim by Viacom.
Second is a report from London Tonight on LBC's foul reportage of the risks around the MMR vaccine. Fair play to B3ta for adding the link to this vid in this week's newsletter.
Now tell me any of this would've happened without the Internet. How fitting for its (arguable) 20th birthday.
2 comments:
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.
Some of the blame should also go to the otherwise-worthy Private Eye, who "broke" the "story"
- Richi, who used to subscribe to Mr. Hislop's organ.
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