Jon Stewart vs. Jim Cramer

Alex · 03-17-2009, 12:00 PM

I don't have a problem with Stewart doing it and for the most part his points are extremely valid.

That said, I did feel that Stewart was a bit fair in technique in that he'd lead with a video specifically highlighting something Cramer did and then when Cramer tried to defend himself personally Stewart would respond with "this isn't about you, and to prove it here is another clip of you."

Also, the examples of "shenanigans" that Stewart was providing didn't really have much to do with the structural causes of our current economic problems and so, to a degree Stewart was arguing the point about the press and business being complicit in knowingly running up and then ruining the economy.

Unfortunately that is where I part ways with Stewart apparent view. I agree that the press and business leaders should have known, and some did know but that they were deluding themselves rather than simply deceiving the hoi polloi. And by categorizing as malice what was more likely simple stupidity, it prevents us from properly addressing how future repeats might be avoided.

By the way, I read it last week and Daniel Gross's Dumb Money is a very good overview of that slide into self-deception and how it is a cycle that pretty dramatically repeats itself with each bubble and somehow we individually and socially never seen to figure out how to avoid it.

03-17-2009, 12:00 PM	#2
Alex . Join Date: Feb 2005 Posts: 13,354	I don't have a problem with Stewart doing it and for the most part his points are extremely valid. That said, I did feel that Stewart was a bit fair in technique in that he'd lead with a video specifically highlighting something Cramer did and then when Cramer tried to defend himself personally Stewart would respond with "this isn't about you, and to prove it here is another clip of you." Also, the examples of "shenanigans" that Stewart was providing didn't really have much to do with the structural causes of our current economic problems and so, to a degree Stewart was arguing the point about the press and business being complicit in knowingly running up and then ruining the economy. Unfortunately that is where I part ways with Stewart apparent view. I agree that the press and business leaders should have known, and some did know but that they were deluding themselves rather than simply deceiving the hoi polloi. And by categorizing as malice what was more likely simple stupidity, it prevents us from properly addressing how future repeats might be avoided. By the way, I read it last week and Daniel Gross's Dumb Money is a very good overview of that slide into self-deception and how it is a cycle that pretty dramatically repeats itself with each bubble and somehow we individually and socially never seen to figure out how to avoid it.
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