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Friday, March 13, 2009

New Video From The John Stewart Show With Jim Cramer !

Comedy Central's Jon Stewart capped off a week-long battle with CNBC's Mad Money man Jim Cramer by literally reducing him to quivering apologies ?

A clip showing the latest mano-a-mano between public figures on opposite sides of the political spectrum, this time between Comedy Central's "The Daily Show" host Jon Stewart, and CNBC Financial
Jim Cramer.

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?
It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is less guilty than most of the other financial media for their media efforts together with Wall Street, the politicians incompetent regulators for what has happened.
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.
What are your thoughts ??
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