Financial Confusion
March 5th, 2009In trying to make some sort of sense out of the financial mess that we are in, Newburyport and globally, I find myself staring incomprehensibly at my Newburyport TV watching some guy in a hot pink necktie and a raging bald guy. It feels like Flannery O’Conner meets the business channel, or “Alice in Wonderland” meets the business channel. It’s really hard to take these folks seriously from my vantage point in Newburyport, MA, but as a neophyte desperately trying to learn this stuff, I’m not exactly sure just how crazy these people are.
And along comes Jon Stewart last night, God bless him, to explain the whole thing to moi, confused in Newburyport, MA.
The whole business channel thing doesn’t even rate high enough on the weirdness scale to be a combination of something as classy as Flannery O’Conner or “Alice in Wonderland.” Nope, this is the Twilight Zone gone rancid:
“Maybe the most shocking Jim Cramer gem is when he is advising that his audience buy stocks: “You should be buying these, and accept that they are overvalued, but accept that they are going to keep going higher. I know that sounds irresponsible but that’s how you make the money.” On that day in 2007, the Dow was at 13,930. It is now below 7,000.”
You can read the Huffington Post article and watch the Jon Stewart segment here.
And this is one of the guys who is slamming President Obama. Good grief.