The spin machine CNBC gets hammered.....Extremely refreshing to see some honest critique on the FED's propaganda machine. Of course this article originated in the U.K. as no American journalist would ever risk such a career killing move.
Investors Duped by CNBC Bubble Pumping Casino Propaganda
Aug 02, 2008 - 01:44 AM
By: Mike_Stathis
While some would consider Cramer a “stock pumper,” others would consider him their savior. I would consider him the “Dr. Phil” of Wall Street because, similar to Phil, he designs shows based on resolving some controversial issue with the intended goal of helping lost souls. At the end of each show both Dr. Phil and Cramer emerge as some sort of superman. In short, both of these shows are more about entertainment than anything else and they create an illusion that many viewers fail to recognize. While this approach isn't really damaging for the Dr. Phil Show, it can be highly damaging for a show based on investments. You can decide that for yourself.
What we do know is that he likes a stock one day and often hates the same stock a few weeks later. This on-off approach serves a purpose. It forces you to watch the daily drama so you won't miss when he turns sour on a stock you bought based upon his favorable review. Meanwhile, he mentions so many stocks that it is virtually impossible to keep up with what he says unless you read one of the blogs that summarize his opinions. But would anyone waste their time following this guy other than to research his ridiculously wrong guidance for a piece like this? Has anyone ever bothered to count the number of different stocks Cramer mentions each year and how many his likes and dislikes? If you ever thought Cramer was ahead of any curve you have been fooled – exactly what his show is designed to do.
Come on now. Looking at this marketing ad, can you really take Cramer's show seriously? Notice “Watch T.V. Get Rich” slogan. That's manipulation and deceit in its most obvious form. How many of you have become rich by watching Cramer? I'll guarantee none of you have. If you became rich it wasn't because you watched Cramer or other programs on CNBC. You become wealthy despite watching this network.
If you think you will be ahead of the curve by watching him or anyone else on CNBC, just take a look at the archives in YouTube – the ridiculous statements and predictions.
A Closer Look at Cramer
I am curious if anyone knows whether Cramer has more “Buys” than Wall Street. I would say that he is on TV for the same reason why other self-proclaimed investment gurus are….their investment days are over. For some, their investment days only began after they launched a successful career on television because they didn't have any money before then. Perhaps Cramer did well in his hedge fund, but recall that he got in at the bottom (1987) and left at the top (2001). Thus, he pretty much rode market gains that averaged more than 18% annually. Remember, everyone did well during the great bull market.
For a seemingly fairly bright guy (who has admitted having some mental issues) who spent two decades on Wall Street and ran a hedge fund, I do not view Cramer to be that sharp when it comes to investments. It is tempting to accept what Cramer has to say.
After all, HE worked on Wall Street. Most likely you have not.
After all, HE ran a “highly successful” hedge fund. Most likely you have not.
After all, HE went to Harvard. Most likely you have not.
You need to realize that Cramer is a herdsman for sheep. And each day he leads you into the slaughterhouse. Let's have a look at what's being run by Cramer and CNBC, the bubble network:https://www.clipmoon.com/
Larry Kudlow is Much Worse
In contrast to Cramer, there are many entertainers on CNBC like Larry Kudlow who continue to deliver no value whatsoever. In fact, he has and continues to be dangerous to anyone looking for a realistic assessment of the U.S. economy. At least Cramer eventually admits reality (other than the fact that he has been wrong). Kudlow remains in denial. He has been absolute disaster and still thinks the economy is fine. Just check the archives on YouTube and you will see his lineup of cheerleaders who serve to confirm his horrendous fairy tales. Examine his track record and you will be hard-pressed to find anyone who has been more off base, other than many of the hams he has as guests. In my opinion Kudlow needs to resign and apologize to Americans for providing such a biased and inaccurate view of the economy.
It's hard to find many in my profession willing to come forth and state the obvious about the manipulation and biased programming delivered by CNBC. Its coverage of the stock market exemplifies media mind control at its best.
Why won't high profile financial professionals publicly expose this toxic behavior? Because they rely on the media to promote themselves and their business. And they do not want to risk being blacklisted by CNBC because when you have been blacklisted by one network you get blacklisted by the others. In short,
CNBC is a destructive propaganda machine that has helped turn the market into a casino. I have personally spoken with the head legal counsel at the SEC and demanded that CNBC be shutdown and certain individuals there be investigated for stock manipulation and I will continue to do so. I suggest you do as well.
More Trash from CNBC
CNBC has now expanded its coverage into consumer finance, real estate and other topics. This is a network that has shows featuring “experts” like Suzy Orman, David Bach to Robert Kiyosaki. Need I say more? When will Kevin Trudeau or Russ Whitley be on CNBC? Perhaps they already have.
Ask yourself the following question; if these “experts” were really that good investing, why is it that they've formed their careers showing you how to invest? Many sports coaches were formerly great players in the sport they coached. Physical limitations brought on by age or injury caused their resignation. But what is the excuse for these investment “experts”? Is there any physical or mental limitation that would cause them to resort to investment coaches rather than professional investors? If you were able to examine the net worth of these “experts” I am confident that their wealth has been made from selling you epiphanies. Sure, they may have had some investments that performed well during their tenure as a marketing machine. But that money is likely to have come from you and your support in buying their books and other products. In fact, some of them were completely broke prior to being elevated to the “expert” status by Oprah.
In my opinion, if you do watch Cramer, Kudlow, Fast Money or anything else on CNBC you are a sheep. No “ifs, ands, or buts.” “Oh well I only watch Cramer because it's entertaining.” WHATEVER. Stop fooling yourselves. If you are waste time watching this trash you're being using like a cheap tool. I learned many years ago what CNBC and the other networks were up to, and it sure isn't about delivering the truth or having real experts on the air who warn investors in advance. Apparently, I am in the minority. FOX realized how successful the “bubble network” has been in steering sheep and has recently laughed their own “business channel.”
If you still doubt what I'm saying then you have little hope to do well investing. Who do you think pays the bills at CNBC? Mutual funds, brokerage firms, and other companies who buying millions of dollars of add time.