Monday, April 26, 2010

CNBC Collapsing Due To Insane Economic Opinions


This has to be the most embarrassing thing I have ever seen from a CNBC reporter – and we all know we’ve seen a lot of them.  In an interview with Tech Ticker today, Maria Bartiromo pretends to be some sort of market expert and opines on the boom bust economy:
“There’s nothing wrong with a boom bust economy.  What’s wrong with a boom bust economy?  Things are booming and then you get a bust and that opens the door for wealth creation.”
There are so many things wrong with these statements I don’t even know where to begin.  First, Bartiromo is a lifelong reporter.  She has ZERO market experience.  Yeah, I know, she’s been around for a while.  But you know what?  I’ve watched a helluva a lot of war movies.  Does that mean I am ready to pick up a rifle and start lecturing people about the ways of war?  No.  It’s simply absurd that her employer even allows her to opine on markets.
As for the actual boom/bust comments – it’s insane to say that the boom bust cycle is part of the American way or in any way healthy.  As we’ve previously explained, the boom bust cycle is the direct result of severe economic imbalances and Keynesian fiscal and monetary policy that Alan Greenspan has admitted was a failure.    We have slowly and methodically gutted the middle class in this country while the largest wealth redistribution in human history has taken place – in large part thanks to the ever increasing wealth of the banks and bankers.  And this endless attempt to inject liquidity into a flailing economic model has only made matters worse by further indebting the middle class and further enriching the bankers. The results speak for themselves.
Why does CNBC insist on allowing their market reporters opine on the stock market?  This network is slowly destroying itself by constantly allowing their reporters (who are professional reporters and not analysts) interject with their market opinions.  With all due respect, no one on the planet cares what Maria Bartiromo thinks about the stock market.   In fact, one of the reasons why I have always been a fan of hers is due to the fact that she tends not to opine on the markets and instead asks poignant and excellent questions while also reporting the news.
We all know that 80% of buy side and sell side opinions add little to no value to begin with.  The idea that a journalist can add value to a debate as complex as the financial theories behind the business cycle is comedic at best.  Comments such as Bartiromo’s above only verify this.  This is the primary reason, in my opinion, why they are losing viewers.  After 10 years of a sideways market and a financial crisis that nearly destroyed the US economy no one is interested in listening to  cheerleading from a bunch of reporters that have never worked at a buy side or sell side firm.
I’m very sorry to rail against anyone in particular (ad hominem attacks are not my style), but this is the sort of propaganda from a very misguided commentator that does nothing to move our economic progress forward.

16 comments:

  1. Money + CNBC = Money Lost

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  2. Nearly destroyed the US economy? Move our economic progress forward?

    I think even much of these whistle blower economic analysts are losing touch with their analytical whistles.

    I'm telling you we entered a black hole and all certainty and information is being distorted. What were once intelligent brains are being burnt out and going haywire. The human program is finished.

    I saw a commercial last night on NBC. It was a child spelling some word and then in large print it said, "the internet makes us smarter", or some shit like that. My 9 year old niece and all of her girl scout friends can't name one president of the USA. No, they don't know who Washington was, don't know Obama, not Bush... when I was that age we could name at least 7 or 8. She spends much of her time on the internet on game sites, she watches Disney all the time and of course she goes to a private school which is claimed to be better than any public school. What the hell is that? Generation Z... the internet is going to make them beyond genius!

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  3. http://wcbstv.com/local/jobs.employment.queens.2.1657008.html#addComments
    this is for the idiot who said the elevator jobs were a joke there was no line
    also cnbc has been traitors
    for years as well as the last 4 presidents and congress senate
    are guilty of sedition
    they know i know it soon when they want there new world order you all will know it
    the bankers should be arrested imediately
    this broad maria is a dummy kudlow
    her husband divorced her because she gained weight and has a big mouth
    i bought gold because she and other idiots were running the country with there stupid remarks free trade jobless recovery green shoots
    bs front ad center equals cnbc

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  4. What a bunch of useless B.S. Drivel

    Did anybody pay attention to what the CEO of
    Caterpillar had to say today ?

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  5. I could have been an actor, but I wound up here....

    That about sums it up.

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  6. No, what did CAT CEO have to say?

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  7. i did catpiller earnings up sales down
    we fired 19 thousand and will bring back 9 thousand at 2 dollars an hour
    and you must speak manchurian
    did i miss more
    like digging fresh graves at fema camps for useless eaters creating jobs

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  8. A boom bust cycle is pretty much normal. I don't think the reporter was wrong. While it is possible to moderate the boom/bust it is almost impossible to do effectively or fairly. Unless we enter another dark age for 500 years or something we will surely have more boom/bust cycles. And there is indeed a beneficial effect to the "bust" side of the cycle as it tends to weed out the less productive/competitive businesses and allows better businesses and better owners/managers to replace them. It is an economic survival of the fittest.

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  9. also do you find yourself saying but on tv it says its great we are fine
    but feel the stress of the bs and have this awkward feeling that things will get really bad soon.
    the answer is mind control.
    bombard you with bs that even if you know
    hitler was killing the jews its ok
    until one day you wake up and say o my god
    this is bs bs
    i wouldnt believe them if th

    ey told me the sun is real.
    its called mind control
    and we know there doing it just prepare
    because they kudlow cnbc fox cnn
    would sell you there mother for a nickel
    the evil is greater than you can imagine
    pray theirs a god listening because thats your only hope and there is a god
    fdr

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  10. Well damn the guy on Coast to Coast (old art bell show) said oil was made by by the earth, smirks!

    and it will always renew the level , smirks again!

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  11. oops was in wrong section, damn, lol oh well reposted in the oil one,

    plz delete this one and the other one mod

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  12. HY these booya clowns and stock pushers never said crap about the big bust before 08, it was all "goldie lock" BS, now the same jerks are still yappin the SOS.

    Only thing I hear a bit different from the goldie pimp, aka seed planter, is he at least is callin for uncle ben to raise the fkn rates. Hell back in 08 he was cryin they was too high.

    The bond baby's and booya boy stock pushers are happy with uncle ben's BS, they're hopin he keeps this crap up for his so called "extended period", its good for them, while the savers that have anything left are gettin screwed.

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  13. Without the Scumbag elite families and their Federal Reserve there simply would be no boom and bust cycles. They create them and know how to profit from them in advance.

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  14. Wow
    You really believe Maria is asking her own questions and not reading something given to her hours earlier? Really?

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  15. As mentioned numerous times in the past in this blog, the TV anchors, financial babes etc are ACTORS, with $4000 outfits and $500 haircuts. They are there to fool the sheeple, no matter if its CNBC, CNN, FAUX or your local tv news, ALL ACTORS.

    The stupid moron sheeple believe anything their tv's tell them. The sheeple have no clue.

    Now go back to watching your tv and SHUT UP!

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  16. QUOTE: "As we’ve previously explained, the boom bust cycle is the direct result of severe economic imbalances and Keynesian fiscal and monetary policy that Alan Greenspan has admitted was a failure."

    Greenspan is a Keynesian economist? Could've fooled me )))) I think "Monetarist" with a hand on Milton Friedman's ass and his head up Ayn Rand's skirt would be more like it. But nice try.

    ReplyDelete

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