It’s Time for Jon Stewart to Stop Hurting America

"Putting clips together to make a point or a joke doesn’t give an accurate impression of reality. Unlike The Onion or Saturday Night Live’s obviously satirical “Weekend Update,” Stewart gives the impression that he is making fun of what has actually happened rather than embellishing reality to create humor or outrage."

BINGO!

His show was funny for about the first month when he went after left and right equally. Then he swerved off the road and went into the ditch pretty quick. haven’t watched in quite a long time. Even Micheal Moore is funnier and more entertaining.

These tidbits, plus Cramer’s attempts to logically explain the whys and hows of financial network reporting, didn’t make it on the show..."

Well, Stewart was right about one thing, when he said that promising 30% gains every year was like an infomercial with no base in reality. And that is true. Over a, say, 20 year period 6-10% per year is great.

What Cramer was trying to convey is the idea that within a bubble, insane behaviour can be sane. If you invest at the start of the bubble, quadruple your investment and get out, that IS economically sane behaviour as it maximizes your profits (of course, if you get in shortly before the bubble is about to burst, that's a whole different story).

No bubble will ever undo fundamentals, namely that there is no such thing as a free lunch. The problem was that everybody was behaving insane. The interest rate policies of the last half dozen years was insane. The housing bubble was insane. Of course it's no big feat to point out the insanity afterwards as e.g. Stewart does. But those who did it before like e.g. Ron Paul were also ridiculed, because everyone was in on it and thought the party would never stop and who likes a party-pooper?

In short:

1. The market wins. Always.
2. There is no such thing as a free lunch.
3. Profits / gains must be based on the real economy (e.g. technological innovation and / or better productivity).

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