Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

This Is Not a F- - -ing Game

By

Jim Cramer's evisceration by The Daily Show may mean the demise of financial gurus.

PrintPRINT
"I understand that you want to make finance entertaining, but it's not a f - - - ing game."
- Jon Stewart, host of The Daily Show, to Jim Cramer

Indeed. We live in strange times. Collectively, our national intoxication with all things finance runs fierce and deep. From moment to moment, no one really knows whether to laugh, cry, or do both at the same time. And so the air on the street is juiced with a mildly psychotic hum. Being a native Kentuckian, I enjoy it, but not everyone is built to handle this kind of environment. The stress can be too much.

How did things ever degenerate to the point where it seemed either appropriate, or even mildly entertaining, to turn finance into a game show like Jim Cramer's Mad Money?

We'll get to that. But first, let's clear something up about what's really going on in the Jon Stewart vs. CNBC battle, which CNBC cleverly turned into the Jon Stewart vs. Jim Cramer battle.

This is not about Jim Cramer.

It never was. It's about the perceived responsibility financial media has to report and discuss financial issues that may be unpopular. Popularity is a sore point for television networks - for all media, really. There's no "build-it-and-they-will-come" playbook for keeping the lights on and paying the bills. One thing we've learned while trying to build a financial media platform at Minyanville: Advertisers don't like it when you say negative things about them.

Several months ago, Washington Mutual pulled an advertising campaign from us after we published a story saying the former banking giant was dangerously close to tipping over the edge and collapsing. Then, they tipped over the edge and collapsed.

But back to Cramer.

There comes a point in every junkie's descent when the tentative restraint of self-consciousness and self-image loosens up just enough to let the freak out. For most of us, once that line is crossed, there's no going back, ever.

Naturally, no one knows when that moment will arrive. Indeed, the unpredictability of it is what lends the trip down the chute from recreational abuser to full-on foaming-at-the-mouth dope-fiend its delusional aura of impossibility; the conviction that It Just Won't Happen to Me.

For Jim Cramer, that moment came last night on The Daily Show.

It's conventional wisdom that you can't go off half-cocked calling famous people like Jim Cramer a metaphorical junkie and freak without some kind of substantiation and context. In the old days, people were beaten and thrown in jail for far less.

But this is the Age of Self-Evidence. Waist-deep as we are in facts based on theories and weird anti-truths assembled from half-baked rumors and innuendo bubbling up from Wall Street, what's a little more kindling on the fire?

In the metaphorical land of the blind, the one-eyed man is king. And up until the credit bubble burst and collapsed, Jim Cramer was that one-eyed king.

< Previous
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE