Maybe there's a good reason why CNBC has a show called Fast Money. If you follow the advice of these guys, your money is likely to evaporate very fast. Likewise, I'm beginning to see why Cramer's show is called Mad Money. You're likely to get mad if you follow his advice. Or maybe you have to be a mad man to watch it.
Is it just me, or do these guys look evil? “Watch TV, Get Rich?” In my opinion, that claim is in violation of SEC rules, not to mention that fact that it's a complete lie. In fact, the opposite is true… “Watch TV, Become Poor.” The only people getting rich when YOU watch TV are those behind CNBC, including the sponsors. Of course most of the shows on CNBC have the token “babe” there to offset some of the testosterone overload.
Do yourself a favor. Pick up the phone and call the SEC. Demand they remove this stock pumping network from the airwaves. If the SEC was doing its job, it would have shut CNBC down long ago and sent the stock manipulators to prison. Understand this. The SEC is partners with Wall Street just like the FDA is partners with big pharma. These government agencies aren't protecting you. http://www.reuters.com..
I actually ran into one of the guys on Fast Money, Pete Najarian at a Charles Schwab Active Trader forum back in March 2008. Since the Schwab event was only a mile away, I went to offer my insights to investors. Make no mistake. I don't watch CNBC. I don't even have cable since I have no time for trash. I only saw the show once when I was on a business trip, bored in my hotel room. That's the only reason I even knew who Pete was.
I handed Mr. Najarian a copy of my book, “ America 's Financial Apocalypse: How to Profit from the Next Great Depression.” I told him that we were seeing the very beginning of what will be the biggest crisis since the Great Depression. I asked him to take a look at the book and contact me if he or anyone else at CNBC would like to discuss the coming depression. He agreed. Of course, he was the speaker at the event and I'm sure he cleared a nice fee. He was a pleasant man and a good speaker, but he failed to address most of the questions the audience had about the economy.
You need to understand that anyone who makes a career being on television isn't going to know what's going on in the economy or stock market. You can't do both. You are either spending all of your time researching and analyzing the economy and stock market or you're in production rehearsing your show. In fact, even most “experts” on Wall Street have been clueless about the economy and stock market.
Why would Schwab have anyone else speak at this event other than a TV personality from their big marketing partner, CNBC? Because they want you to only have access to the “dog-and-pony” bull from CNBC. And they know that most people attach credibility to someone if they're a TV personality – a HUGE mistake.
The Schwab event was in early March 2008, the weekend before Bear Stearns was handed over to JP Morgan, compliments of taxpayers. As we all know, much has happened since then. Yet, despite contacting CNBC on numerous occasions before and since then, including Cramer's show, I have heard nothing.
In fact, I contacted Larry Kudlow's production crew in May 2007, as well as several times thereafter and heard nothing. Larry has my book, as do hundreds of other useless media clowns and shills. You need to ask these bozos why they ignored my attempts to warn the public as early as January 2007. Wait, I know why. By summer of 2007, Cramer was preaching Dow 15,000 and telling everyone to buy blindly, as was Kudlow and his clueless shills like Don Luskin – you know, the clown who still thinks the economy is fine. http://www.washingtonpost.com/...
Now I know how the media works, and it has nothing to do with broadcasting valuable insight and guidance. I've learned a very valuable lesson that will benefit me for the rest of my life. And now that I truly understand how America 's media machine works, I'm even more ahead of the curve. And when you find out what Schwab is up to you aren't going to be too happy if you're one of their customers because they too had a chance to warn their clients but passed it up. I'll get back to them in the future.
Notice on the Fast Money website http://www.cnbc.com/i.. how they throw in an endorsement from Oprah. She represents another danger to Americans.
Dylan on CNBC. But wait until you see the Commissioner on her show!”
In my opinion, if Oprah validates your investment show or any other show, that's a clear sign it's trash TV intended for sheep. The same goes for her book endorsements. That said, I'm willing to bet Jim Cramer has appeared on Oprah. Any takers?
Oprah has launched the careers of several mass marketers that claim to be investment experts like Robert Kiyosaki, David Bach and other self-proclaimed “experts” who really are no more than marketing machines without a conscious. But ever since they've received Oprah's “golden touch,” they've been welcomed with open arms by other networks. These men spend most of their time on various television networks trying to convince you they understand investments and real estate.
Has anyone ever bothered to check their track record? Do they have any previous professional investment experience? Did they work on Wall Street or did they work at a commercial real estate development firm? Have they ever been registered with the NASD to manage money?
Do they really know what they're talking about? When it comes to sales pitches, they do. But put them up against any real investment expert and they'll run in fear of being exposed for who they really are.
People, it's time to wake up. You need to stop empowering media hosts who do nothing but steer you down a blind alley. Oprah has proven over and over again that she is no different than the hacks on CNBC. Simply turn off the tube and let the ratings dictate their fate.
Hey Oprah, stop promoting cheese balls who sell desperate people empty dreams. Oprah, you need to start doing your due diligence before airing your guests because you've really proven to be very irresponsible. Instead, why don't you start promoting real experts who have the qualifications and those who truly care about helping people. In the end, it's the people who do and say as Oprah does and says who are to blame. In the end, you are the cause of your own destruction if you are gullible enough to buy into the trash television, and in many cases radio.
You see, it's all a club similar to boards of directors who serve on each others companies. You scratch my back I'll scratch yours. Oprah had you on her show? Oh well then FOX wants you on and so does ABC, NBC, CNBC and even PBS. And we want to have you on our radio shows too so people get flooded with the same trash no matter where they turn.
It's a game the media plays and they are taking you for one big ride, while laughing all the way to the bank. It's a form of censorship because they only give you what they want you to hear, and leave you with no alternative viewpoints. They control the distribution so they don't need valuable content. Valuable content rarely gets into the distribution chain.
Click here to read Part 1 of my series on CNBC and the rest of the financial media.
Copyright © 2008. Mike Stathis. All Rights Reserved.
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