After watching this CNBC clip there should be no doubt in your mind that the mainstream media is attempting to manipulate the perception of the American public in respect to the economy and financial markets.
The whole 5 minute clip is worthy of your time, but for a blatant admission to how the media operates today, scroll forward to 3:00.
Guest Simon Hobbs: “This is an overbought, inflated market, that could come down quite rapidly. Question, when you say buy JP Morgan to these guys at home, retail investors often last into the game, will they get out in time?”
CNBC Host: “They don’t have to, that’s the beauty of it. For the folks who don’t have any education on options whatsoever, that’s why you gotta have that education. That’s why it’s an explosive world. And that’s why it traded 27 million contracts and sets records almost every single day……[skip worthless babble]….You can buy JP Morgan at the cheapest level in two years. That’s why you can still buy this market.”
CNBC Host 2: “Hey Simon now that you are here in the US, listen, you have to be a bit of a cheerleader. There’s gotta be something that you’re in the heart of capitalism that you like about America. What’s the one thing, if you were investing, that you would buy right now.
You’re here on US soil, there’s gotta be something good that we do here.
Simon Hobb’s response was pretty muted and he didn’t want to put forward any investment ideas in the US. Basically, he doesn’t want anything denominated in US Dollars and if you want to protect your wealth, neither do you.
Of mention is also the notion that somehow, this market will continue to go up forever and investors with money in risky financials don’t ever have to worry about getting out of the market, or in this case, JP Morgan stock. It’s at it’s cheapest level in 2 years, so that means it couldn’t ever drop again, right? For those who take their advice from CNBC and other Puppet Media outlets, consider this a warning.
“Simon Hobbâ€™s response was pretty muted and he didnâ€™t want to put forward any investment ideas in the US…..”
I don’t think that’s the case. I think Simon, as most European and Asian financial correspondents, sees himself more as a reporter. He’s not a “used-up equities salesman”. To him, investment information is in the dissection of a business plan, where asÂ CNBC, and let’s be honest, sees itself as a protector of Wall Street interests and a carny barker to hype retail traders into high frequency, low profit trading practices.
All CNBC does is hawk stocks. You got CNBC monkeys on one side of the panel stroking viewers to buy stocks (remember Cramer barking banks right up till they died?), and on the other side you got monkeys hooting ” … and just in case the stock don’t perform, and while you’re at it, buy some options for insurance”.
Investment information in the US is not about value. Investment information in the US is all about selling data, trades and brokerage services and has very little to do with the prospects for the underlying.