Jon Stewart wants to point the finger at CNBC and Jim Cramer: The public was duped and they are to blame. The entire premise of a functional democracy is having a well informed public. But if the US public descends into mass stupidity, is it the media’s fault? Put another way, do you blame the drug dealer or the drug user? More often than not, junkies are portrayed as victims and the pushers as evil. No matter how sleazy CNBC and the rest of the financial and “regular” US news media may be, nobody is forcing anyone to watch their crap. Just say no.
Canada is blessed in comparison to US corporate-owned news. For the most part, Canadian news coverage is level headed and even handed. Financial news is no exception. Watch the Business News Network (BNN) and you immediately see the difference (check-out BNN.com). Rather than fast cash, crazy money and sensationalist reporting, guests are interviewed at length, topics are covered thoroughly and investment advice is top-notch. And guess what, BNN is available in the US. So Jon, time to change the channel!
That Mr. Stewart is calling out the US financial news is important. What the public needs to do is take matters into their own hands. Change the channel! There is plenty of reliable and thorough news out there. Let’s not forget international news. The BBC for example puts FOX news and CNN to shame. It’s not enough to blame the messenger. Instead, it’s time to shoot the messenger.
One of the central concepts behind Professor Noam Chomsky’s theory of the media is that it serves the insiders that own it, not as a matter of conspiracy, but as a matter of function. It is for that reason that any news source that is owned by the institutions that it is supposed to “keep an eye on” will never give you the real news. That is why you need to read this blog, and the next guy’s blog, why you need to search the world for news, and filter out the crap. Don’t point the finger, use the finger, and give the US news media the finger. You have the internet and with it more access to information than available at any other time in history. Why the f-ck would you bother with CNBC, MSNBC, CNN, Fox News or the rest of these lackeys?
Jon Stewart is one of the most entertaining people on television, but for him to excuse the public for being lazy and for trusting an institution (US financial news media, US news media) so obviously compromised – sorry, doesn’t work for this guy. Jim Cramer, like some of the most brilliant minds in economics (including Alan Greenspan, Warren Buffet) totally underestimated the coming financial meltdown in 2008. Are we mad that people of such intelligence unintentionally or intentionally led us astray? Of course, but who really is to blame? Well, for starters, check this out … from PBS. One of the best examinations of the financial crises out there.
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