Wednesday, March 11, 2009
The fall of the sad clown.
Yay, Flags of Many Lands™!
I now have a total of 161 flags. I may get to 200 someday, but that's no promise. Most of the countries I am missing are tiny like Andorra or countries we quaintly call underdeveloped.
There is a new kerfuffle on basic cable. Rick Santelli of CNBC was supposed to go on The Daily Show, but canceled. Jon Stewart tore into CNBC in a very funny bit, aimed at everyone on CNBC but singling out Jim Cramer, the allegedly manic host of the alleged investment advice show Mad Money. Cramer then went on NBC and MSNBC to defend himself, and now Stewart has fired back. If you want the funny stuff, obviously watch Jon Stewart. If you want good investment advice, you are on your own and you always have been.
Cenk Uygur over at The Huffington Post (also cross-posted to The Smirking Chimp, which publishes the stuff I write on my blog over there) is the analysis to read, because Uygur gets it right. The business press on TV is all about access to the business world, and if they really investigated companies, those companies would cut them off and others might very well follow suit out of mistrust of the motives of the press. CNBC does not stay in business by giving you good advice. They stay in business sucking up to the companies that buy the ads, and their audience is just as gullible as people who used to call the fake Jamaican fake psychic Miss Cleo.
No, the double use of the word "fake" in the last sentence is not redundant.
I call Jim Cramer "allegedly manic" because he acts like a Morning Zoo deejay on his show to make it more interesting to watch. If anything, the way he acts when he is truly upset makes me think he is manic depressive. Now, just as Matty Boy is not really an Investment Advisor to the Stars*, I am not a doctor and I don't play one on TV. But if you watch this clip of Cramer begging people to buy Bear Stearns seven weeks before the terrifying collapse from about $70 a share to $2 a share, you will see a man dealing with real grief issues.
Mr. Cramer, I'm not a doctor and we aren't pals. But seriously, as a person who has been around depressed people in my life, I recommend seeing your doctor and changing your meds, because what you are doing right now isn't working.