March 8, 2009
CNBC has a terrible track record on just about any business topic you care to mention. There is hardly a day goes by that they don’t make an absolute fool of themselves at one time or another. Anyone who follows the network easily recognizes that, and as I’ve said in the past, I watch CNBC a lot.
CNBC has two major problems brought on by a third – they mistakenly see themselves as all-knowing experts, and they idolize Wall Street & those who run it. These two problems are the direct result of their unwavering political ideology.
I’ve written several posts in the past on CNBC’s idiotic moments, but covered only a small portion of their wonders. Any interview they conduct is principled around their ideology. If they would leave that behind the cameras, there would be far less embarrassing moments. But since ‘no one is interested in yesterday’s news‘ (their opinion, not the publics), CNBC feels very comfortable in continuing down the destructive path they are on. Only when total failure for the network is eminent will someone recognize that a change must be made. Hopefully, just like many of their idols on Wall Street, it will be too late to save them.
CNBC panders to the business world. They accept anything their friends say as gospel without question, and they viciously attack anyone who challenges Wall Street. To them, Wall Street is god. Therefore, any information they pass on to the viewing audience is severely tainted and should not be accepted as reliable information. Besides, when anyone’s job & future depends solely on a particular industry, don’t expect them to speak ill of that industry.
Jon Stewart of The Daily Show has highlighted the absurdness of CNBC with a montage video (embedded below). The video covers several of the networks biggest booboo’s over the past year. Very interesting (& funny) stuff. Hope you enjoy it.
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