One of the core aspects of mainstream financial media in general, and outlets like CNBC in particular, more so even than their chronic permabullish bias, is the seemingly endless gallery of “experts”, “pundits”, and other talking heads whose only requirement is wearing a business suit (in some very notable exemptions) who show up on TV, offer trade advice and recommendations – while either pitching their own trading services or hoping to offload their own existing positions – and if (or rather when) said advice leads to material losses are not heard from again until a certain period of time passes, and those who suffered listening to said “experts” have moved on, at which point the farce repeats itself.
Personally, I wish CNBC even more “success” in 2015!
– For CNBC, 2014 Was The Worst. Year. Ever. (ZeroHedge, Jan 1, 2015):
Another year of putting lipstick on the zombie known as the global economy, kept walking only thanks to $11 trillion in liquidity injections by the world’s central banks and tens of trillions of new Chinese credit created out of thin air and promptly misallocated and embezzled, and the results are in. The bottom line: according to Nielsen, is that despite the S&P recording a whopping 53 all time highs, and the Dow rising over 18,000, the channel that was once must watch financial TV for mom and pop, and has since devolved into endless cheerleading of failed policies and rigged markets, namely CNBC, just suffered its worst year in, well, ever.
But don’t worry: the “retail investor” who has now fully given up on the “market”, will surely be back this year, and with it CNBC’s ratings.
In the meantime, here are the facts:
- CNBC’s Total Business Day segment (M-F 9:30a-5p), just delivered its lowest rated year since 1995 with P2+ and delivered its lowest rated year ever since 1992 with the 25-54 demographic
– Video of the Day: Interview with Matt Taibbi About JP Morgan and the CNBC “Presstitutes” (Liberty Blitzkrieg, Oct 2, 2013):
The top definition of presstitute according to Urban Dictionary is:
A member of the media who will alter their story and reporting based on financial interests or other ties with usually partisan individuals or groups.
It has become abundantly clear in recent years that the mainstream media can not be identified as anything other that a collective of mediocre, corporate/government ass-kissing presstitutes. Different media outlets cater to different special interests, but the end result is all the same. MSNBC for example is essentially a straight up PR outlet for the Democratic Party, while Fox News represents the neo-con arm of the Republican Party and the military-industrial complex generally. CNBC has a special position in the presstitute media hierarchy. They basically defend Wall Street at all costs. The station represents the most important media gatekeeper for the financial oligarch, crony class.The following video is an interview on the daily political talk show Majority Report, hosted by Sam Seder. In this episode, he discusses with Matt Taibbi the recent appearance of Salon’s Alex Pareene on CNBC in which Maria Bartiromo unabashedly presstitutes herself out for Jaime Dimon and JP Morgan in an utterly embarrassing manner.The clip is a little over 16 minutes, but well worth your time. Sam Seder is pretty hilarious and his rapport with Taibbi is excellent.
So here’s my question for Maria. If all that matters is the bottom line “ex-legal problems” then why did the Feds raid the Silk Road rather than allow them to “settle without admitting guilt?” After all they were a “cash generating machine” too. Take that one on Money Honey.
– Kaminsky On “Hypocrite” Biden: “I’d Have Punched Him In The Face” (ZeroHedge, Oct 12, 2012):
In a little over three minutes, CNBC’s Gary ‘Golden Gloves’ Kaminsky not only pointed out the dismal reality of our political class but explained, in his out loud voice – which we assumed was typically suppressed for career-limiting reasons – exactly what he thinks of Joe Biden and what he would have done had be been sat next to him on that table. In saying what we suspect a lot of readers may have felt, Kaminsky exposes the underbelly; as like many of Wall Street who are ‘compelled’ to give politicians money (Biden has raised the great majority of his funds from financial services firms) hearing the hypocritical “wall-street-vs-main-street” double-talk and ‘nasty’ laughing and smirking last night made the ex-PM angry. Impressed at Ryan’s calm, Kaminsky sums it all up, about Biden: “I would have punched the guy in the face!” – the truth.