I might vote for Jon Stewart. Poor Cramer looks like a deer in the headlights.
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6 comments:
I thought Stewart handed Cramer his ass. He was relentless and serious and very pissed. Way to go Jon!
Yea, but he's complaining to the wrong person. The media is just a small part of the problem. The core of the problem has yet to be addressed: Old fashioned Western Capitalistic Greed....it will take harder times than this to get that worked out...
Capitalism = greed?
I don't know what else to call it when people seek to selfishly gain for themselves at the expense of others. That seems to be where this experiment of democracy and capitalism has ended up....
Seems to me we have more of a problem with a runaway government.
Using the AIG debacle as an example, AIG would not have held any 'toxic assets' if the government hadn't demanded that banks make more loans to low income minorities. If there was no bailout or TARP, there would be no bonuses for failure. AIG was not allowed to go into bankruptcy, which was the only legal way out of the bonuses being paid. Now we the taxpayer are out in the cold. Doesn't seem like free market capitalism or democracy to me.
I think the argument could be made that when capitalism and democracy jumped the tracks, entities such as the Fed, income tax, Social Security, Medicare, Medicaid, welfare etc. sprang up claiming we could have capitalism without risk. These entities and the big government/ entitlement society effectively broke the natural rise-fall, win-lose structure of capitalism setting up an environment in which people take huge risks knowing that they will not be allowed to fail or suffer the consequences. This lets greed run rampant with everybody believing there is no end to success and no need to save or prepare for losses. It also has built an entitlement class that hates the wealthy and demands that those who are successful give up their gains to provide for those who are unwilling to take risks or put forth their own efforts to succeed.
I could go on, but you get the idea.
I get where your going Matt, and agree. Though capitalism itself is not necessarily the problem, it seems that greed is allowed free reign in the system. We can bail out everybody and their brother, but if empathy, generosity, kindness etc. don't temper greed I think we will end up with the same issues down the road. The inner issues need to be addressed as well.
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