Wall Street was not a happy camper today.
On the TODAY show this morning, Matt Lauer had the nerve to ask Jim Cramer why he doesn't just lie about the economy to his viewers.
Lauer: ...they say why don't you guys stop talking about recession because simply by talking about it, you're going to freak out consumers and definitely push us into one. Is there any logic to that thinking?
Cramer: The answer is that we can, we have to point out the positives with the negatives.
Lauer: But if consumer confidence in spending is a large part of what goes into possibly creating a recession, by talking about it, is there an emotional side to it?
Cramer: There is, but also we have to report the news. And there is an astounding decline in business in the country. If we say that there isn't, we cannot be possible doing our jobs.
In other words, STFU! Yea Matt, forget about the truth. Hell, it worked so well in the run up to the war in Iraq, didn't it? Logic in Lying---stick your head in the sand. I hate to break it to Matt, but these NAFTA lovers lie on teevee day in and day out about the economy. (I'm not saying that this is Matt's opinion on the subject because of the way he framed the question)
I've been watching the Stock shows on FOX and CNBC for a long time now and outside of a very small percentage of "experts" that try to tell the truth about the state of our nation's economy---most are Milton Friedman, free market capitalist pigs that will say anything to sell their ideals and I mean anything. If the economy is great---it's time for more tax cuts and---if the economy is bad---we need more tax cuts. They bow at the alter of Tax cuts. In other words, evidence and pragmatism be damned, just give those wealthy corporations tax cuts for evah!