Before I begin, I do want to give Cramer his due for telling people to pull out of the stock market at the beginning of this crisis if they needed any money for anything in the next 5 years. It was a good call to make and worked in the interested of the little guy just trying to get by.
With that said, Cramer knows about as much about the economy as me, and my only experience was Intro to Economics in High School and Principles of Macroeconomics in College. If Cramer knew anything about the economy, he would have known that going on national television and telling people to pull out of the Stock Market is the worse thing you can do, despite the fact it was good advice.
The Stock Market is like a pregnant woman. It's always on an emotional roller coaster. It can be hot then cold, high then low, up, down, and all around town. Furthermore, it needs confidence. Cramer telling people to pull out of the stock market on the Today show, America’s most watched morning show, DID NOT provide confidence. As a matter of fact, on this day, October 8th, the DOW plummeted 800 points.
Another reason I don't trust Cramer is the fact that he didn't have the balls to admit his own mistake. He put it on to everybody. He said whenever anyone recommends a stock that falls, it’s a mistake. He couldn't even man-up enough to say Yes, I made a mistake. But yet, he does have enough balls to give stock advice that can easily make or, in the case of his bad Bear Sterns call, break the bank.
And finally, I don't trust Cramer because he can't fight his own fight against a little old "comedian". He had to pull in the "white and bitter" of Morning Joe to help defend him. Joe tried his best by quipping that Jon Stewart should try giving stock market insight for the next 5 years. But as Jon said, he doesn't claim to be an expert on ANYTHING. Nor does he work on a network that claims to know what's happening on Wall Street.
The fact of the matter is that Jim Cramer and CNBC got this economic crisis ass backwards, but they can't bring themselves to admit it because it doesn't fit their image of perfection. For this, I will never trust them until they either redeem themselves by getting it right or simply admit to the mistakes they have made.
I will continue to trust Jon Stewart because he is honest, has integrity, and doesn’t pretend to know something he doesn't.
In Stewart I Trust!


Salon.com
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Even though the Daily Show often "makes things up" while poking fun at our collective culture, Stewart (and I'm guessing his staff of writers) has a way of "cutting through the fat and getting to the meat" of many media muffs.
WillDu
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