People watch CNBC for only a couple of reasons.
By Daniel at 6 April, 2009, 10:17 am
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The programing is for people trying to make s fast buck.It’s dumb game but what these “talking heads” say can affect the markets at least for a moment.Pros watch for the same reason. No one takes any of these people seriously but the job requires as much market moving information as possible.
The biggest problem as I see it is that the “talking heads” do not have the knowledge,education or experience to pontificate as they do.If someone in the profession talked wildly and incorrectly as they do,they would be liable and unemployed. Rick Santelli is the only one that was actually involved professionally in the commodity business he talks about.He too has ventured into political commentary which is comical at times and strictly reflects his leaning. This violates the basic”objectivity” that all of these people violate. The content is dangerous and should not be allowed.
Larry Kudlow has evolved into a pontif who always talks over the people he interviews and has become almost un-watchable over the last couple of years.He somehow survives and prospers although he was totally wrong about the markets and the economy and people who listened got seriously hurt. This sell side mentality is dangerous. Buy,buy,buy. Kudlow was a good economist at one time but personal issues destroyed his career.He landed at C.N.B.C. in various forms and in the beginning he was helpful. He now is a talking head and his ideas and opinions are suspect.Cramer is Cramer and those who take him seriously do so at their own risk. If you think his behavior is that of a balanced person then the psycho ward might be a good place for advice.
C.N.B.C. is about ratings. It’s about America’s need to try and make an easy buck. C.N.B.C. is about women in tight sweaters making specious comments about things they know nothing about. It’s more personal opinion than objectivity. Buyer beware.
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