Our entire economic situation summed up in a 10 minute CNBC clip

A recipe for disaster was having 5 different anchors interviewing these guys. A chance to hear two of the sharpest economists in the world, guys who saw all of this from the beginning, and they barely get a chance to say anything other than respond to constant interruptions by attention whores fighting for face time. Ridiculous.

And what the hell was that rock star status/data point crap about?

 

Even a day later, I am still shaking my head at this interview. I couldn't tell you who one of these slappies are, but I know this isn't the overnight shift, and this is the premier financial network in the country, interviewing two very smart men.

Why do we allow incompetence like this, in any industry?

 

Because there is a shitload of money to be made by catering to the lowest common denominator.

 

Its the mid-day shift.

The only guy on CNBC that has a semblance of smarts is Rick Santelli. The others are useless.

 

And because our media outlets have been trained to take the path of least resistance.

At the same time, as someone astutely pointed out earlier, CNBC is trying to keep a kaffe-klatch, happy-talk format going. If their talking heads aren't talking, well ...

Yes, Luggie. This is a HUGE get. Roubini has a hard-won, well-earned reputation as being one of the premier economic minds in the United States. This guy's eventually going to be chatting up the King of Sweden at a Nobel ceremony, so, perhaps you may want to let him say a few things.

I found that NY Times link.

http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&ref=business

 

Even more than that.... They're ROCK STARS!!!

 

I thought that designation was reserved for hedge-fund managers, Poin.

Oh yes. That's so 2006, isn't it?

 

And that's why we know were at the bottom. That's a CNBC economic rule--nerdy profs with accents getting attention is a "data point" meaning our recession has bottomed out and sunnier days are ahead.