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Uncommon Economic Indicators

On the Brian Lehrer show on WNYC here in New York, they have a segment called "Uncommon Economic Indicators" where people call or email in about the little things they've noticed that are signs of today's economy; things like, there's more food in the office fridge, and how the subways are more crowded. I've personally taken note of the ladies in full length fur coats taking Greyhound and how the washers in my building cost $.25 more.

And then there was the Daily Show Smackdown of Jim Cramer.

If you have been living under a rock and missed this, John Stewart of the Daily Show has had some issues with CNBC and a "war of words" began between Stewart and Cramer. Well, Jim Cramer came on to the Daily Show last night and basically was beaten the hell up by John Stewart. I got the feeling that neither of them planned to have it go the way it did, but Stewart, like many of us, is angry about the economy, had some valid points about how CNBC handled-rather mishandled-the predicting of the various banking debacles and went all out on Cramer. Cramer, in response was, in the word of CNN, was "contrite". He may be wrong - and his show is ridiculously annoying - but he could have put up more of a fight. My husband, the high school debate champion and spirited conversationalist was dreadfully disappointed with Cramer...and basically recounted to me various arguments Cramer could have used...and then I had to come back with what I believed Stewart would have come back with. (It was hot.) Stewart, on the other hand, I think went off more than he planned as referenced perhaps from his final statement of the night "I hope that wasn't as uncomfortable for you to watch, as it was for me to do..."

But who can blame him for being angry and wondering who is cahoots with who after listening to Madoff describe what he did with the money he took, leaving various victims and pundits asking "How could the SEC and the IRS MISS THIS?!?!?" One can't help but believe that folks had to have been paid off - there had to be corruption at the SEC*, the IRS and Chase Manhattan for this to have gone on as long as it did. Could there have even been corruption or at least soft reporting at CNBC? Could CNBC also been part of the problem rather than helping folks find a solution? No one can - or will - say for sure right now.
*Jim Cramer himself said that the SEC wouldn't know certain scams anyway (see 2006 video used by Stewart)

What we do know, is that the head guy at Cramer's website "The Street", just resigned. And John Stewart is probably stillpissed.

Peace --Alex

P.S. The Network had a staff meeting this morning. A STAFF meeting. It was early for all of us, not just the nightstaff people, but I have to say, that after being out of work for so long, it was surprisingly pleasant to actually be part of a meeting.

Another pleasant surprise? An email from my fiscal sponsor Fractured Atlas. They have a position open and I have an interview next Wednesday. (yay!) Time to buy some new shoes and make sure I don't talk too much.

posted by funkweee @ 10:00 AM