CNBC is worthless
Josh Marshall from TalkingPointsMemo:
TPM Reader JC sent me to this interview with Nouriel Roubini and Nassim Taleb on CNBC. Here’s what JC wrote:
In this clip, Nouriel Roubini and Nassim Taleb are still being treated as a circus sideshow by CNBC… They’re predicting the end of finance, and offering the only clear path out of this mess that I’ve seen offered (with the knowledge to back it up), and CNBC keeps asking them for stock tips. It’s ludicrous. Wall Street media — CNBC at least — doesn’t realize how bad this is yet. They’re stuck in a bubble where they think everything will go back to normal in a few months….
He hits it spot on. These two guys are talking about a deep structural crisis in the world economy. And these CNBC yahoos can’t stop asking for stock tips. Really surreal.
I’m watching it again now. This is a seminal piece of video. You have to see it. I’m not sure I’ve seen anything that captures — albeit unintentionally — the vast disconnect over what is happening today in the US economy.
If you ever watched CNBC for any kind of financial information, you now know that the financial information provided at Nickelodeon or Sesame Street is as good as the information they have at CNBC. God help you if you used CNBC to make any investment decisions.