CNBC, the screeching cheerleader of Wall Street, interviews two of the smartest economists—economists who accurately predicted this financial collapse, when so many others were blinded.
What did they ask: Why did this happen? Which policies should we implement? Which political leadership should be changed? Which banks should be let to die? No.
What stocks should we buy? Assholes.
Well, have you talked to your 401K advisor at work? Ours came in last fall and told us to….take a guess….that’s right BUY BUY BUY!!!! Stocks climbing out of control? BUY!! Market Crashing to levels that make the Great Depression look like prosperity? BUY!!! Jupiter flying out of orbit on a direct collision course with Earth? BUY BUY BUY!!!
it’s funny. watching intelligent economists talk to dip shit media spokes people causes me to hope the economy actually crashes.
That is an amazing clip. They just don’t know what to do with those two guys.
Wow. Thanks for sharing this. What vapid, self-serving hosts. It’s like they don’t realize what’s going on.
This is more than 2 weeks old.
I like how these idiots at CNBC talk about how Bill Gates and Michael Dell wait for hours to talk to these two economists, but kept interrupting them when they’re trying to speak.
Anybody remember FNN (Financial News Network)? CNBC bought it and acquired most of its on-camera personnel. It was pure elegance in its financial reporting (not a screecher anywhere). What happened? Influence from CNN? Fox? MSNBC? Everything has to be loud and dynamic and “oh…the world is coming to an end” or “this is the best story ever!!!!” I get tired of watching CNBC. It wears me out. I have a friend who calls it “financial porn.”
assholes is right. These guys also like to piss all over Peter Schiff, who’s been pretty spot on as well.
Here’s one of my fave Peter Schiff vids from August 2006: http://www.youtube.com/watch?v=LfascZSTU…
Yeah, that’s a great video. It’s good to see these talking head morons get their butts handed to them every now and again. Sort of like Jon Stewart’s appearance on Crossfire a few years back.
Wow. That was amazing. Even if one were to disagree with the guests, it is clear who the clowns were in that interview. This is a serious crisis, and we don’t need the Nancy Grace’s of the financial world leading us further astray. CNBC should be embarrassed.
Um, Golob, accurately calling the financial collapse isn’t amazing if you’re a perma bear. Also, CNBC is known for being universally terrible for finance related information.
Fuck Golob, stick to physics, something you know about.
Nothing that a 10 commentators on one split screen won’t solve ….
Only morons listen to stock SELLERS about economics.
Can we get real for a minute here? A big financial calamity happens in this country every 5 to 7 years on average, and then everyone flips out with the screeching and crying and pissing their pants, and then we move into another expansion 18 to 36 months later. That’s how capitalism works—regular cycles of booms and busts.
Jumpin Jeebus, the irrationality and short-term memory of the public is drivin’ me nutz.
Cato the Younger Younger @ 1,
Let’s get back to the reason that you started that 401(k): To plan for retirement. And you mix equities and bonds in there because those are the only investments that currently offer the long term potential of beating inflation, which cash in a savings account won’t btw. So if you only buy when the markets are going up then you’re always buying high. You have to buy, preferably through systematic regular investing, when the markets drop if you ever hope to realize any gains in the future.
If it’s really true that The End is Here, then whether the balance of your 401(k) goes up or down is irrelevant, because the value of the dollars in the account will be completely wiped out. So, you’re probs better off continuing with a regular investment plan just in case the economy does recover, as it has 100% of the time in the past.
what should the average person do now/do soon would have been the better question, and a very pertinent one to the average helpless viewer. and it might have nothing to do with stocks. apparently they eventually got their valid answer: put all your money under your mattress.
@13: Who are you telling to get real? I have yet to see one serious economist suggest that this is equivalent to the ’98 dot-com bust. We are losing half a million jobs in this country every month, and concern over this fact is, in your eyes, “crying and pissing their pants”?
You, sir, are a fucking moron.
@ 15,
Hmmm, I don’t see “98 dot com bust” anywhere in my post. Try working on your reading comprehension.
The fact is that there’s an economic crisis and bear market in this country every 5 to 7 years on average, and each time people claim that this is The End, yet each time the economy recovers. Try reading a little US history.