Mad Money Meltdown: Jim Cramer, CNBC, TheStreet.com In Intensive Care

Related Post: Coming Soon - Jim Cramer, Master TV Critic

One can only hope that The Daily Show and Jon Stewart show some mercy towards Jim Cramer, if not the world of financial "experts", after last week's pummeling of the Mad Money host/former hedge fund manager/general shyster.

Cramer skipped a Saturday morning appearance on CNBC's news partner, MSNBC. CNBC refused any comment on the Friday night Stewart-Cramer interview, and producers at MSNBC muzzled their reporters, telling them not to mention the event.

The Chief Executive Officer at TheStreet. com, the stock market advice site founded by Cramer, has resigned. On Friday, Stewart left Cramer gasping for air with a video in which Jim told TheStreet.com of techniques to manipulate the stock market and undermine the stock price of individual firms.

And here's a wonderful twist in the tale. On TheStreet.com James Altucher, the employee getting schooled by Cramer, has posted a video "Defending Jim" (presumably Cramer, but also possibly himself).

Only problem: no sound.

Comments

[Ron]

While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?

It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is far less guilty than most of the other financial media for their efforts together with Wall Street, the politicians, incompetent regulators for what has happened.

China is now worried about their dangerous over investment in US Treasury obligations. Washington ’s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.

The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts

Thanks,

Ron with 30 plus years in the investment business and banking industry.