Regardless of whether or not you think Stewart is funny, it’s getting harder and harder for people to brush him off as some Comedy Central hack. He does his research and he knows what he’s talking about … and I think Cramer might be re-thinking his decision to appear on The Daily Show.
It’s sad that “legitimate” news sources don’t have the jewels to go after the fear mongers, leaving it up to “the host of a variety show.”
You can see the rest of the interview at ComedyCentral.com
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While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?
China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.
The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
Thanks,
Ron with 30 plus years in the investment business and banking industry.