RSS Feed 
Twitter And now your moment of zen...
I would suggest that if you only had 22 minutes to watch TV each weekday, and perhaps even listen to the news, The Daily Show with Jon Stewart might be about the best way to spend that time. Living in Copenhagen, one never has available quite the full range of American TV shows available to watch (which doesn't mean you're necessarily missing much), luckily The Daily Show is one that happens to be broadcast twice daily in Denmark, on DR2 (or you can just click over to www.thedailyshow.com to see a streamed version of every episode).
This past week has been one of the most memorable weeks in the shows history, as Jon Stewart has unflinchingly targeted his satirical guns at CNBC, the cheerleading and often mindless 24-hour American financial network, for 'missing' the fact that the market had become wildly overinflated, which included the stock valuation of countless companies. This attack by Jon Stewart in turn prompted Jim Cramer, host of one of CNBC's popular shows, to lamely fight back, which lead to an invitation to appear on The Daily Show on Thursday.
For anyone with a passing interest in journalism, have a look as Jon Stewart pulls off his comedian facade to give a little lesson in how to give a hard-hitting, uncompromising interview. It's quite a piece of work - a true moment of zen.
And if you did happen to catch the show and see Thursdays episode, it's worth taking a second view of the full, unedited version of the Jim Cramer interview (embedded below), which The Daily Show posted on their website.
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 far less guilty than most of the other financial media for their efforts together with Wall Street, the politicians & incompetent regulators for what has happened.
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.