CNBC is it a good channel for economic issues?

Forums

I have started watching this channel lately and just wondering is it a good source to get infromation on the financial world. I am an amateur at this but find the subject very exciting. My question is are they for real or is it entertainment as such. Looking forward to your thoughts on this

Économiste Monétaire

Like all financial networks, take the advice of talking heads with a pinch (truck load) of salt. I generally don't watch CNBC, I usually have Bloomberg on in the background: it's not particularly exciting but I find it's good for basic information releases. Listening to some of the crazies, e.g. Dr. Doom and Jim Rogers, is always amusing, however. Also, how academics can go to public policy roles and become so deluded in what they're saying, i.e. Christina Romer.

The Economist is worth reading in times like this. Ditto the Financial Times.

Forums

I saw your man Rogers on the other morning and he sounded so convincing. The thing I like about it is the Irish media sounds like they are reading Angelas Ashes while with these guys they are more positive about the future.

mike65

US channels are mainly good for big hair, assertive voices and amusing "cool" names

Économiste Monétaire

I like Jim Rogers, he's a great personality and a good speaker, but he's been wrong on commodities and how safe Asia is for investment (silverharp pointed that out a while ago, i.e. decoupling theory). I'm also not a fan of his views on certain monetary issues. There's a danger in being too optimistic, as illustrated in this post (the video), because there's no reason for someone to be optimistic right now. There's no positive indicators for the short-term, or at least there are very few. I think the general public here aren't being pessimistic enough, coming from someone, i.e. me, who is generally an optimist.

Forums

I did gather that the indicators are not good. One thing I observered is that they(Yanks) view the issues on their merit but in this country things gets very personal.

silverharp

if you were to watch anything on CNBC, it's the 7-8AM European session but again just as background noise, another guest I like is Hugh Henrdry. On average its a huge timewaste watching these channels, a sub to the Economist is a better use of your time
Bloomberg does a very good 2 hour prog at the weekend though, you could do worse then record it to spin through the numerous breaks.

daveirl

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Time Magazine

Économiste Monétaire wrote: »

The Economist

daveirl wrote: »

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Thanks lads xx

Amberman

Économiste Monétaire wrote: »

Like all financial networks, take the advice of talking heads with a pinch (truck load) of salt. I generally don't watch CNBC, I usually have Bloomberg on in the background: it's not particularly exciting but I find it's good for basic information releases. Listening to some of the crazies, e.g. Dr. Doom and Jim Rogers, is always amusing, however. Also, how academics can go to public policy roles and become so deluded in what they're saying, i.e. Christina Romer.

The Economist is worth reading in times like this. Ditto the Financial Times.

wow...you think Marc Faber is crazy? You are the first person Ive ever heard describe him as that. Maybe people should read "Tomorrows Gold"...written years ago....ye know...just to get an idea how "crazy" he is.

Most people laughed at him when he wrote it...and thats fine, but you're the first person Ive seen laughing after many of the things he predicted have come true!

Truly Baffled

Amberman

silverharp

Amberman wrote: »

wow...you think Marc Faber is crazy? You are the first person Ive ever heard describe him as that. Maybe people should read "Tomorrows Gold"...written years ago....ye know...just to get an idea how "crazy" he is.

Most people laughed at him when he wrote it...and thats fine, but you're the first person Ive seen laughing after many of the things he predicted have come true!

Truly Baffled

Amberman

I havnt read his book but I get his newsletter and indeed if any of the perma bulls had taken his advise they would be doing very well now.

Économiste Monétaire

Amberman wrote: »

wow...you think Marc Faber is crazy? You are the first person Ive ever heard describe him as that. Maybe people should read "Tomorrows Gold"...written years ago....ye know...just to get an idea how "crazy" he is.

Most people laughed at him when he wrote it...and thats fine, but you're the first person Ive seen laughing after many of the things he predicted have come true!

Truly Baffled

Amberman

I'm talking about his current stance on bad banks and the joy he attaches to deflation. If you wish to fawn over his ideas, feel free.

Amberman

I'm not fawning over his ideas, Im fawning over his predictions which have come true. You cant argue with the guys track record...but you can dislike his Austrian education....

I bought gold a while back thanks in large part to his analysis. If you want to put forward an investment idea in as convincing and as prescient a way as he has done several times, I will fawn over you too some day.

Amberman

Économiste Monétaire wrote: »

the joy he attaches to deflation.

Ive never picked up on this aspect of his analysis. To what are you referring specifically?

Économiste Monétaire

Amberman wrote: »

Ive never picked up on this aspect of his analysis. To what are you referring specifically?

... Classical gold standard. That's fairly obvious considering you've already pointed to his Austrian School beliefs. He's written about deflation and the purchasing power of money before. You should find that on his site.

Amberman

Économiste Monétaire wrote: »

... Classical gold standard. That's fairly obvious considering you've already pointed to his Austrian School beliefs. He's written about deflation and the purchasing power of money before. You should find that on his site.

Thanks, I'll take a look. What do you think of Nassim Taleb?

silverharp

I've attached one of Fabers letters from 06. Now I'll be the first to admid that being a market timer does does not mean they have any reason to be taken seriously on how an economy should be run. But I'd argue that someone with an Austrain School perspective does not see it as all or nothing , at any point in all they are saying is you are going in the wrong direction.

Amberman

Thanks Silverharp! I'm reading this now.


Faber on dollar depreciation against the Phillipino Peso....

"believe me, whenever the Philippine peso manages to
appreciate against another currency, that currency must be terminally
sick"

LOL

silverharp

This clip is going to to do the rounds , Rick Santelli on CNBC

Amberman

"what we're doing in this country is making the founding fathers roll over in their graves".

Its about time someone said it!

Every day, Rick Santelli is the voice of reason and integrity on CNBC. I love listening to him.

I noticed that one of the presenters joked that the police were coming around the corner to shut him up and quell his dissent to the political establishment.

I seriously wonder how long that will be a joke.

silverharp

Amberman wrote: »

"what we're doing in this country is making the founding fathers roll over in their graves".

Its about time someone said it!

Every day, Rick Santelli is the voice of reason and integrity on CNBC. I love listening to him.

I noticed that one of the presenters joked that the police were coming around the corner to shut him up and quell his dissent to the political establishment.

I seriously wonder how long that will be a joke.

"...reward people that can carry the water not drink the water". its good stuff.

daveirl

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Dob74

Forums wrote: »

I have started watching this channel lately and just wondering is it a good source to get infromation on the financial world. I am an amateur at this but find the subject very exciting. My question is are they for real or is it entertainment as such. Looking forward to your thoughts on this

I dont think CNBC is a good source of finanical info. The money honeys(Maria Bartiromo,etc) act as cheerleaders for the market and not as objective journalist. Since it is a business channel they tend to over hype the market.
Bloomberg is probably the best business channel. Thier all business no BS

daveirl

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silverharp

daveirl wrote: »

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I just checked youtube , its had over 400K hits now, it must have hit a nerve with many

silverharp

Update from the kudlow show

Just to add nothing to the discourse,
Maria baritomo is very hot though..

damnyanks

Not really. It's just hot air with a bit of useful information about current market news. They get useful people on for interviews but its usually just a repeat of their earnings call or whatever.

If you want to know about the latest public news and dont have access to any market makers or anything along those lines then I guess there isnt much to compete with it.

But its definitely a channel that considers entertainment value when decideding what to do.

artful_codger

Amberman wrote: »

"what we're doing in this country is making the founding fathers roll over in their graves".

Its about time someone said it!

Every day, Rick Santelli is the voice of reason and integrity on CNBC. I love listening to him.

I noticed that one of the presenters joked that the police were coming around the corner to shut him up and quell his dissent to the political establishment.

I seriously wonder how long that will be a joke.

you schmuck.

http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice

artful_codger

wow, the silence is deafening.

Amberman

artful_codger wrote: »

you schmuck.

http://www.thedailyshow.com/video/index.jhtml?videoId=220252&title=cnbc-gives-financial-advice

lol....that was brilliant...most of them are idiots....