Psychology of Consumer Behaviour |

Saturday, March 14, 2009

Smackdown Srewart vs Cramer- Our Wealth is WorK!

What a pleasure to watch Jon Stewart take on and take out (hopefully) the Wall Street Cheerleading squad at CNBC. You can't help but feel a bit sorry for Cramer because it is not he alone who pontificates and propagates the stories of those who manipulate the market. He's guilty of more in the past and who knows what more. At least he had the guts to face the music and could perhaps do as he said, " try to do things better." If he's not done.

But what does it say of stations owned by NBC who ignored the story?

Cowards? Not reporters, that's for sure. The story was big news, and I couldn't wait to turn on the television the next morning to see what the talking heads at MSNBC had to say. But what happened?......nothing, nada, zip. Maybe they wanted to say something, maybe they were censored by the network. Whatever, it's kind of pathetic and really makes the point that Stewart is suggesting.

My favorite moment from the Smackdown came when Stewart said, "When are we going to realize in this country that our wealth is work...and by selling the idea of 'Hey, man, I'll tell you how to be rich.' How different is that than an infomercial?"

Yep, they've been feeding the public a diet of snake oil, no different from the patent medicine peddlers from the turn of the century.

The song remains the same

"Our wealth is work."

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