The extent to which Jon Stewart and the Daily Show disemboweled CNBC in this piece from last night is actually not all that funny. It’s just painful, and a truly embarrassing commentary on what passes for responsible journalism today. Watch the whole thing.
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…that was one of the finest Daily Show episodes I’ve ever seen. The guest was Joe Nocera, a financial reporter for the NY Times. Jon pwned him as well, and Joe pretty much summed it up when he said, near the end, that Stewart had provided him with a topic for this weekend’s column. It’ll be interesting to see that when it happens…
and watched with a cocked head and bewildered look at how the market would rise on bad news. And how amazingly wonderful everything was. They always used the rising stock market as a sign that life was good in America and it’s only going to get better. But I new 2 years ago that the financial situation was starting fail. I was constantly struggling to meet rising prices with a flat paycheck. (And I wasn’t even one of those who maxed out my mortgage or bought more than I can afford). Yet in spite of the fearfully struggling middle class, spirits on the stock exchange were always high, as they continued with the perpetual screwing of the hard working people of our country. It really makes me sick.
So anyway, I just want to let Corporate America know that they can keep on raising prices, (yes, I am talking to you Walmart, Big Y, Stop & Shop and all of the other grocery & retail stores). Good luck with that strategy. Yeah, Walmart’s numbers came back great this week, but I only have so much I can spend per week on groceries, so I will be walking out of your store with fewer products, I will not be spending more money. Eventually everyone else will be doing the same thing. The market fell again today. Where is all of this headed?
I don’t think Jon Stewart was trying to be funny, I think he was trying convey the ridiculousness of it all.
For some reason we accept that homeowners were irresponsible, not the banks that gave them the money, the brokers who packaged and sold these mortgages, the financial wizards who rated them AAA or the elected officials or talking heads or the regulators.
Even more amazing, we are being fed the notion that we can not cap bonuses at the banks and investment firms because we might lose these financial geniuses. But screw the idiots who…bought homes?
There was an “expert” on today categorizing the current economic environment as a “mancession”.
p>I guess women do not have to worry about their jobs?