The Hotseat
After running roughshod over CNBC’s Jim Cramer earlier in the week, John Stewart has picked a new foe in the form of ESPN’s Talented Mr. Roto. Berry, ESPN’s Senior Director of Fantasy Operations, is known for both his bombastic personality and questionable fantasy advice. The fireworks began immediately as Berry settled into the hotseat. “Two words for you,” Stewart began, “Jeff Francour.” Berry immediately tried to change the subject, noting that he was right in predicitng Rick Ankiel’s 20+ HRs and touted his belief that Aubrey Huff would outperform Evan Longoria in the second half of last season. “Did you or did you not, Sir, write before the 2008 season that “Andruw Jones [cannot] do any worse than he did last year“? Berry’s eyes immediately filled with tears and he had to pause several minutes before speaking again. Stewart siezed the moment and brought up Berry’s irrational love of Angel players Brandon Wood, Kendrey Morales and even Juan Rivera. “Are these really the kinds of players you expect us to build our teams around?” Stewart prodded. “Juan Freaking Rivera? The only way I would ever play Juan Rivera in my outfield would be if I took your stupid advice in the first place and drafted Andruw Jones! Where is the accountability!” The largely partisan crowd roared its approval while Stewart smiled smugly into the camera. After pulling out his Blackberry and updating his Facebook page, Matt Berry spoke in a somber voice and spent several minutes hyping “future batting champion” Howie Kendrick as a bouceback candidate for 2009 and rosterable in mixed leagues as a Middle Infielder and also touted every starting pitcher on the Minnessota Twins to outperform their average draft position.
While I enjoy watching Cramer every night, one must remember the show is primarily entertainment. The financial networks exist to promote their advertisers financial and investment products. Who would expect them to warn about the credit bubble or coming Washington national debt collapse which will destroy much of the remaining private wealth in America today or what this will do to the dollar, the stock market, bonds, gold or the real estate market?
It is ironic that Jon Stewart and a comedy show instead of the regulators or news media had to bring all of this public. Also in Cramers defense he is far less guilty than most of the other financial media for their efforts together with Wall Street, the politicians & incompetent regulators for what has happened.
China is now worried about their dangerous over investment in US Treasury obligations. Washington ‘s long-term choice is either repudiation or monetization. For monetization to be effective, the depreciation in the dollar would have to be substantial and this in turn would dramatically raise prices of imports for American consumers which would mean a tremendous drop in foreign imports. Debt monetization would cause more disruption to exporting nations than selective repudiation of Treasury debt.
The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
Thanks,
Ron with 30 plus years in the investment business and banking industry.