As noted previously, tonite is the big Cramer versus Stewart meet up.
TBP pal Rob put together the full run of videos for your viewing pleasure — they can be found here: Let’s Get Ready to Rumble !
Its 27 minutes of amusing time-wasting goodness . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
read more »
Tweet
Facebook
Reddit
Digg this!
March 12th, 2009 at 2:27 pm
Don’t get your hopes up, tonight will surely disappoint. Although I can’t wait to hear some of Cramer’s excuses.
March 12th, 2009 at 3:08 pm
Colbert had one of his best pieces in a long time on Wednesday. The Word was “Rand Illusion”, just a nice long satire of Ayn Rand’s worthless “philosophy”.
March 12th, 2009 at 3:08 pm
JD,
I guess that’s what you expect to happen. Will it be a fist fight? Most likely not. However, I still remember when Stewart had Chris Matthews on (hawking his book) and very much going after him…
“I’m not trashing your book, I’m trashing your philosophy of life.”
Aaah, here it is:
http://www.huffingtonpost.com/2007/10/03/chris-matthews-on-the-dai_n_66912.html
March 12th, 2009 at 3:23 pm
Cramer, if he’s smart, will take the page out of corporations whose name is damaged by an emergency (a la Tylenol)…he should acknowledge his mistakes calmly and promise to do better…anything else and he’ll destroy his brand.
As promised, today the Fed issued total credit as of 12/31…the number was 52.6 Trillion. Divide that by the GDP of 14.2T and Total credit per GDP sets a new record for all modern times of 370%…up from 359% last quarter. Hmmm…we are further from a potential bottom than ever…equity buyers are too stupid to look up the number I guess. That is gonna hurt.
March 12th, 2009 at 3:30 pm
Dora says “Hooray for the pendejos!” a new CNBC rallying cry for sure…
March 12th, 2009 at 3:33 pm
Steve Barry -
Re – equity buyers: Hey y’all – the water’s still bloody, but I think the sharks are gone! Let’s go swimming!
Anything could happen between Stewart and Cramer. On the one hand, Stewart can be a gentleman, and runs the risk of scaring away future guests. On the other hand, Cramer did show up on the NBC affiliates looking like a punk who has had his mouth nailed shut for him and continued with the smack-talking against Stewart on those shows.
Might be brutal, might be fluff.
March 12th, 2009 at 3:37 pm
Emmy for Colbert on “Rand Illusion”
http://www.colbertnation.com/the-colbert-report-videos/221335/march-11-2009/the-word—rand-illusion
March 12th, 2009 at 3:39 pm
Maria is laughing…always a good top signal for any move.
March 12th, 2009 at 3:55 pm
@Steve Barry
I posted last night on the book cover note that I thought 370% would be the number. The bond holders haven’t given in on their piece, most of the 2007 Private equity buy outs haven’t gone under. GM bond holders are wanting their bailout. A lot of the promised fed money hasn’t hit the system yet to be recorded as govt debt. I can see it going up to 420% over the next 2 qtrs. Unless there are a lot of washouts between now and June.
On a side note Y-Y was still positive growth of debt, I haven’t started breaking down the different types of debt.
March 12th, 2009 at 4:02 pm
интересное…
TBP pal Rob put together the full run of videos for your viewing pleasure — they can be found here: Let’s Get Ready to Rumble !
Its[...]…
March 12th, 2009 at 4:02 pm
Looks like this rally may have legs after all, SPX 740 gave up pretty easily.
A pull-back is likely soon, but that should bring in more buyers.
SPX 800 is the big overhead target from here.
The big funds will want to goose their performance for Q1.
I’m pretty sure this rally will not extend into April, however robust the present trend.
March 12th, 2009 at 4:48 pm
@Leftback
Two things if you are trading on technicals…one is that resistance levels are not set in stone…to me 750 looks like the real resistance level and we closed right there…second, I don’t give any penetration of support or resistance any credance untill it lasts 3 days…also, today was weak volume again.
March 12th, 2009 at 5:25 pm
@ Stevo: No strong feelings one way or the other, I agree that technical levels have some elasticity and a pull-back is more likely than not. But I am not going to make a major move against the current trend. Don’t underestimate the desire for managers to try to catch up to whatever they think their benchmark is during the next few weeks while nobody has earnings in the front of their mind.
March 12th, 2009 at 6:48 pm
I refuse the watch that asshole
March 12th, 2009 at 7:15 pm
A tape Jim Kramer the ultimate hedgee on how to: Manipulate stocks and the media and make tons of money. A real recommendation for all of the hedge fund managers to game the system, and it’s ok because the SEC doesn’t understand and besides the tape isn’t on TV. I think this is a real tape of Kramer from 2006. Hard to believe but there he is talking about what appears to me to be breaking the law. A real how to for those that want to manipulate the system (providing you have some real cash and connections to play with). The tape is about a third of the way down the page.
http://www.huffingtonpost.com/2009/03/11/jim-cramer-shorting-stock_n_173824.html
Hard to believe but if Stewart has the tape (which he does and it’s real which it appears to be) this could be really interesting.
March 12th, 2009 at 8:00 pm
From my own feeble minded perspective, the only driving forces are psych memos, notes, etc. GE gets downgraded and the stock goes up.
Everything’s in play until the next earning reports. None of the pundits and talking heads are going to say that, but right now it’s a playground for the traders, as pointed out on low volume.
What say ye?
March 12th, 2009 at 11:26 pm
Well exceeded my expectations. Real journalism by Jon.
March 12th, 2009 at 11:28 pm
Wow
March 12th, 2009 at 11:32 pm
Real journalism by a comedy show. Now we’re getting somewhere. Doubt it will change CNBC that much, although I give much credit to Cramer for facing the music and owning up to some of this stuff. Corporate influence has infiltrated and corrupted every corner of our culture and that’s not going to change overnight.
March 12th, 2009 at 11:33 pm
So before I noted that Stewart had already stomped Cramer’s testicles into applesauce so what was left to do. Silly me, I forgot extracting his soul through his anus, sideways, and then grinding it into a fine dust in front of his eyes. Bottom line, I fear that Stewart is a sadist.
March 12th, 2009 at 11:34 pm
WoW…second that. i cant believe cramer would be on the show and deal with those questions.
what is even dumber are the stupid questions…like cnbc is going to expose the bs of the gov and wallstreet and remain on tv. right ……..
March 13th, 2009 at 12:03 am
I disagree that they were stupid questions. Not every question needs an answer, not every comment needs to change the world. Jon became a spoke person for the silent crowd, saying to Cramer’s face what we do not have the opportunity to say. It changed something, it changed for that brief moment, how Cramer thinks of himself.
If I were Jim, it would have caused me to pause, rethink what kind of reputation I want for myself. Further, I will probably take a leave of absence to see if I can come up with a new format that is more aligned with what kind of person I want to be, and more aligned with public good. Cramerica is ending at the latest when summer is starts. Perpwalks not too far away.
As Churchill once said “You can always count on Americans to do the right thing—after they’ve tried everything else”
March 13th, 2009 at 12:05 am
@aperian: “Stupid questions”? What planet do you live on? I thought Stewart was brilliant. Pulled no punches. What kinds of questions would have been “smart ones” to ask?
March 13th, 2009 at 12:07 am
When it eats Larry and Jim’s venemous socialist canards, CNBC’s hellhound will hunt no more.
March 13th, 2009 at 12:50 am
Oh my, Mr. Colbert is such a genius.
Wealth redistribution is so chic, so cool,…so philonthropic! What can be nobler than to strip the wealth from one who earned it in order to give to some dolt who didn’t? All I want to do pat myself on the back in the cause of “fairness” – not because I did without in order to give to someone in need, but because I shook-down someone else in order to “give” to someone I deemed more worthy.
You see, I’m not compassionate or philontropic. I’m a Socialist.
Envy? And what’s wrong with envy? The dog ate my homework and I didn’t show up for class…people don’t like the way I look, my work ethic isn’t the greatest…and yeah, I’m a little lazy…and of course I didn’t get a fair shake! Please oh please, powerful idiots of envy, shake down thy neighbor so I can have thou what I have not earned.
I hope you keep a copy of Colbert’s stupidity on your DVRs. Ten years from now if will be a novelty illustrating the stupidity and envy of the liberal theology.
March 13th, 2009 at 12:51 am
For a Comedian, Stewart just did more to express public sentiment and call out BS financial journalism than what has been done collectively by all others in the main stream press. I found myself egging him on time and time again.
March 13th, 2009 at 2:33 am
Real questions and no bushit from a comedian. Hit tip to you Jon. I got your tea party right here Rick Santelli.
March 13th, 2009 at 5:51 am
Stewart might as well have interviewed a big pile of crap
March 13th, 2009 at 7:43 am
Just saw the interview. I recorded it last night.
I wonder if JS is a fan of this column. Maybe he read of my high expectations for a softball interview and decided to bore in. Not bad, but unfocused. He mistook Cramer’s schtick for something bad and demanded a library like or church like seriousness for all things finance. Screw that.Why should he be the one having all the fun.
The video he kept replaying was much like pieces in Cramer’s books where he clearly describes how hedgies and large capital traders manipulate the markets with regularity. The only difference here is that he used first person. BR posts papers from people who brag about violating the uptick rule. Wha’ts the difference? At least Cramer isn’t trading now and those who brag about how easy it is to violate securities laws are.
Thirdly, if JS is so gung ho about Cramer exposing the baddies in the finance world, then why didn’t they post any non-Cramer CNBC oriented junk pieces. I still remember Erin Burnette and Michelle Cabrera making heartbroken noises when the naked short sellers had their wings clipped. The naked shorts were certifiable crooks and they were obvious cheerleaders. Let’s not even mention Kudlow’s shilling for conservatives who live on borrowed money and expect others to pay the bill. These conservatives are no different from Madoff in any respect, expect for the fact they managed to steal legally. Kudlow’s crowd helped ruin us far more than a few bad tips from Cramer or his rubber props.
Although it doesn’t sound that way, I’m not a big Cramer fan but I like his books, or at least the ones I have read. But I like a good fight. He’ s certainly flawed, but he’s not a bad man and has a far higher character than most of the people around him. Plus I love chiding the lazy loser idiots who scream at his audacity for asking them to actually spend time educating themselves to see for themselves if his hot tips are any good. He’s an easy target and the world is loaded with lazy idiots who think they deserve free stock tips that will make them rich.
Lame disclaimer: I don’t watch CNBC much anymore. Weeks can go by between stopping while channel surfing. If Cramer has gotten worse or Kudlow has gotten better, then , oops, sorry.
March 13th, 2009 at 7:44 am
Stewart did the right thing. We need more of that.
He was able to articulate in very understandable terms the reason most Americans feel betrayed by the financial elites. He should stay on this topic, I believe he is doing a huge public good by exposing the truth.
While we don’t want to vilify them beyond reason we do need to hear the truth not the spin.
I give Cramer some credit for facing the music even though he is the biggest flip flopper on earth.
March 13th, 2009 at 8:06 am
I hope this interview will help people to realize that behind Stewart’s shows there is a serious agenda, and that he usually uses comedy to cover it up.
March 13th, 2009 at 8:15 am
As some here had predicted Cramer semi fessed up…….Stewart’s positioning was perfect……And he can just carry on pillorying CNBC who came out of this worst imho…..Interesting to see whether they tone it down a bit over the next few weeks since they can be sure Stewart’s researchers are monitoring the channel.
March 14th, 2009 at 5:44 pm
test