Jon Stewart Interviews Jim Cramer: Learn About How The Markets Work from an Insider
This really was a rather depressing interview. I mean, it was good. But depressing nonetheless. I really liked Jon Stewart’s point about how what the rest of us are doing basically amounts to capitalizing the “adventure” of these big Wall Street types. And he’s kind of right. We put all this money into rather boring stocks and funds, usually via retirement accounts. Then, the money is used again, but to buy horribly risky, leveraged and opaque investments. Those investments are bought by “experts” who get ridiculously rich. And then remain rich even as the rest of us lose net worth. They get bailouts and golden parachutes, while we get shattered dreams.
Now, honestly, I don’t think it’s quite that bad. I stil think that, overall, as long as you make reasonably good investments and hold on to them, eventually you’ll end up ahead. I think that when this stock market problem is over and things start looking up again, my retirement account will recover. And it will recover nicely. But that doesn’t mean that I’m happy about the way Wall Street has been working — nor am I happy about the way the government and the mainstream media have been complicit. It is rather sickening. Going forward, I hope that we listen to what Alan Greenspan is saying now about sensible and effective government regulation.
Anyway, it’s a great interview. Solid reporting by a “fake news” guy doing what the “real” news people should have been doing.
Disclaimer: I am not an investment professional. Nothing in this piece or on this Web site should be construed as investment advice. Before making investment decisions, do your own research and/or consult with an investment professional. All investment comes with the risk of loss. You are responsible for your own investment decisions and any loss that may result from your decisions.
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