I can honestly say I have never seen Jon Stewart angry before. The hilarious host of Comedy Central’s “fake news” program The Daily Show occasionally gets frustrated or annoyed by certain current events or guests on his show, but until the other day I had never seen him truly outraged. Here’s what happened: On March 4, Stewart did a 5-minute Daily Show segment bashing CNBC and some of their news anchors. In the first few minutes, Stewart lampooned several of them for not seeing the obvious signs of the recession, particularly after Lehman Brothers crashed. He then showed clips of CEOs of financial firms on various CNBC shows, such as the CEO of Bear Sterns, talking about their company’s financial situation. These CEOs were obviously lying and several of their statements, but the CNBC anchors did not pursue the issue. Stewart concluded the segment by blaming CNBC for “dumbing down” finance news and making people believe their investments are somehow unaffected by what is going on in the stock market.
The show unintentionally sparked a small media frenzy. On CNBC, various anchors were lashing out at Stewart’s portrayal of their news station, calling him an “entertainer” and a “fake. ” CNBC’s Jim Cramer took it very personally, and he appeared on various CNBC shows (in addition to his own) to bash Stewart alongside his fellow anchors. Even Martha Stewart joined in—she jokingly told Cramer on her morning cooking show to hit a piece of dough with a rolling pin and pretend it was Jon Stewart’s head.
Then, on Thursday, the unthinkable happened: Jim Cramer appeared as a guest on The Daily Show. The interview came to dominate the entire episode, with Jon Stewart grilling Cramer about various financial topics. If you haven’t seen the interview, I recommend watching it here. For the first time, though, Stewart was legitimately angry. His typical routine of insulting his guest and then hiding behind the guise of being a comedian was gone—Jon was arguing and debating with Cramer, aggressively and seriously.

In addition to shaming Cramer by bringing up embarrassing details about his past, Jon Stewart made a one point I would like to discuss. First, he blamed CNBC as a whole for simplifying financial news and not reporting what was really going on. As evidence, he showed the introduction to Jim Cramer’s show, Mad Money, which depicts Cramer as a mock Christ-like figure, along with clips of Cramer on Mad Money using various props and yelling at the camera for emphasis. He went on to replay clips of CEOs lying on various CNBC shows. Lastly, he blamed CNBC for perpetuating the illusion that there are “two markets,” one that holds people’s long-term investments and the other that is the stock market. Instead, says Stewart, CEOs went on “Sherman’s marches through their companies financed by our 401(k)s,” and CNBC said nothing.
Here I agree with Jon Stewart—CNBC has not really analyzed the financial as much as their should, and they did not really get to the bottom of certain stories that the public deserved to hear. But I do disagree with Stewart’s claim that they should have predicted the financial crisis—though it was 10 years in the making, it took many people by surprise.
But what should CNBC really be doing? What is their responsibility as the sole reporter of financial news on cable television? According to Stewart, it should be to stop dumbing down their programming and do serious analysis rather than recommending certain stocks and interviewing CEOs. Though this is a noble goal, remember that CNBC does have to stay in business. If their programming is no longer entertaining as well as informative, their ratings will drop drastically. Rather than become a financial C-SPAN, CNBC needs to change its format to something like one of the “Big Three” networks: news-desk style programs rather than financial advice shows like Mad Money. Hopefully this format, which has kept the major networks alive can allow CNBC to better educate views while maintaining its ratings.


To celebrate this post being the 100th ever published on this blog, I would like to spend today’s semi-humorous discussion talking about numbers. An interesting BBC article piqued my interest on a number-related subject, and I would like to share what I read. I am pleased to report that “trillion” has surpassed “billion” as the really big number that people have a hard time grasping. One trillion, also known as a million millions, was once a number only astronomers used. But today we find ourselves using it more than ever, and not usually in positive ways: take the US national debt, for example: $11,000,000,000,000. Or the national deficit: $1,750,000,000,000. And remember when “millionaire” signified a person with unlimited riches? It turns out that there are over 10 million millionaires in the world today, making the term somewhat obsolete.
Previously I discussed China being a threat to democracy because it refuses to address human rights issues and set a good example for the nations around it. But because of the economic crisis, shifting populations and some current events, China’s authoritarian threat is even greater than ever.
No, I’m not suggesting that the US government is fascist. But I would like to speculate on what it would take for the US to lapse into fascism. Though I am not concerned it will happen, I think it would be interesting to discuss.
Americans are quick to point to Russia and China as examples of why communism and socialism cannot function on a large scale. However, I believe that Russia and China are not qualified to be considered case studies for communism, for reasons I shall explain.
In today’s second post, I am going to briefly discuss the International Criminal Court’s arrest warrant for Omar al-Bashir, the President of Sudan.
Though I’ve talked about it
Ironic as it may sound, American conservatism has changed a great deal, and today it is radically different from its American Revolution-era predecessors. Originally, conservatism was very Jeffersonian: it stressed small government, agrarian societies, and social libertarianism. Though it had its roots in Christianity, American conservatism did not include any kind of moral reform or social control. Today, though, conservatism has gone in the opposite direction: today’s conservative leaders advocate Amendments to the Constitution (or laws that could be interpreted as violations thereof) to promote Christian influence and enforce moral rules as law. In other words: the movement has taken on a repressive, moralistic edge that is the complete antithesis of its libertarian beginnings. Don’t believe me? Look at today’s conservative leaders. For example, leading conservative commentators Rush Limbagh and Sean Hannity both preach excessive social control and religious influence in lawmaking. Former Vice Presidential candidate Sarah Palin, seen as a role model for neoconservatives, was famous for her rejection of Roe v. Wade, support of school prayer, and overpowering emphasis on the traditional family structure.

