CNBC Host Accuses Guest Of Just Trying To Scare The Crap Out Of Everyone

Posted: July 17, 2010 in Economic Views, Financial Survival, Investing, Markets

CNBC is becoming more of a joke everyday.  The propaganda that spews from CNBC is ridiculous.  There will be a point when even CNBC will have no choice but to admit we are in a depression or at least the beginning of a depression. By the first quarter of 2011 it will be clear for all.  I am not being negative, there is a such a thing called reality.

 John Williams from Shadowstats.com discusses his experience on CNBC in a recent article found on Zero Hedge called Shadowstats’ John Williams Exposes The Media’s Propaganda Spin, Or Why Watching CNBC Can Be Hazardous To Your Wealth.  Let me take a piece from the article:

“Let me recount two personal experiences. Back in late-1989, I contended that the U.S. economy was in or headed into a deep recession. CNBC had me in to discuss my views along with a senior economist for a large New York bank, who was looking for continued economic growth. Before the show, the bank economist and I shared our views in the Green Room. I outlined my case for a major recession, and, to my shock, his response was, “I think that pretty much is the consensus.” We got on the air, I gave my recession pitch, and he proclaimed a booming economy for the year ahead. He was a good economist and knew what was happening, but he had to put out the story mandated by his employer, or he would not have had a job. More recently, following an interview on a major cable news network (not CNBC), I was advised off-air by the producer that they were operating under a corporate mandate to give the economic news a positive spin, irrespective of how bad it was.

Here is a clip where a CNBC host accuses guest of just trying to scare the crap out of people simply by stating the obvious.  The fireworks start at about 3:25.  At 6:00 minutes in, Hobbs says, “You’re just peddling the power of nightmares,” and “Wars are fought because of that sort of attitude.”

As you can see the article name is correct CNBC can be hazardous to your wealth.  Be careful before taking the advice of any analyst or host on CNBC.  In fact unless you are watching for a good laugh from the amount of BS flowing from your flat screen tv I would say avoid it all together.

Full Article Here from Zero Hedge

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