Have you noticed all the Republicans on CNBC's market shows during the day trying to pin the stock market's fall on Barack Obama? Some of the worst shills for Republican spin are Larry Kudlow, Michelle Cabruso Cabrera and Maria Bartiromo. These people love to say that Obama's budget and/or tax policy is (are) the cause of stocks going down, as if Obama started the present precipitous fall instead of inheriting it from Bush, or that he caused the banks for the last several years to purchase billions of mortgages whose risk they had not a speck of understanding.
I am tired of all the whining and carping that this whole mess, created by Bush and his policy of deregulating banking, securities and housing regulations, is somehow all the fault of Obama.
Did I mention Jim Cramer as a member of CNBC's conservative chorus? Cramer calls Obama a "socialist," thus dating himself as growing up in the 40s and 50s. This guy knows nothing. Consider that this is the same Cramer who recommended his viewers purchase Wells Fargo at 35, Goldman Sachs at 190, and Bank of America at 40. Look where these stocks are now, cut in half or thirds. So Cramer is no expert even though that's what his oversized ego would like to pretend.
Thursday, March 5, 2009
CNBC CATERS TO REPUBLICANS, BLAMES OBAMA FOR STOCKS' DECLINE AND OTHER WORLD EVILS
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You clearly don't understand economics. Obama's economic policy goes against the laws of economics, that's why CNBC is complaining so much about Obama's economic policy.
ReplyDeleteThey're saying this because they're economists and they understand how the economy operates, not because they hate Democrats.
Thanks for your comment BBAP. Frank Rich has some good comments in today's (Sunday, March 8, 2009) NY Times. Rich refers to the skewering of various CNBC "experts" by Jon Stewart. Like Jim Cramer who recommended viewers not dump Bear Stearns shortly before it tanked; or that mean Republican Charlie Gasparino who repeated AIG's bogus claims that it had control of its sub-prime exposure; or that paragon of neo-con values, Kudlow, who claimed the "worst" was over. In case you're interested in reading Rich's article, here is the link.
ReplyDeletehttp://www.nytimes.com/2009/03/08/opinion/08rich.html?_r=1&ref=opinion