You might be wondering why a leading investment strategist would harp on the media so much. Well, friends, the fact is that understanding the tricks and motives of the media is the single most important step towards becoming a great investor.
I hope you see that by now. Whether you do or not, I’m going to beat it into your head. So allow me to continue where I left off from Part I of this series.
Kudlow has my book, as does Cramer and several other useless clowns and shills in both print and broadcast media. And they’ve had it for two years, giving them more than ample time to realize what to expect. Why is this important? Because the book predicted everything in detail unlike no one else.
Yet, they continue to air clowns with terrible track records, whose sole purpose is to fool investors. And when they feel the need to admit problems, they air snake-oil salesmen who have been predicting doom for over a decade.
In either case, they don’t air credible experts with proven track records.
Instead, they interview guys with agendas. Extremists who will be preaching doom twenty years from now because that’s their marketing pitch. But don’t be fooled. These guys serve a purpose for the pro-Wall Street media because the get you to throw in the towel at the bottom so Wall Street and pick up the pieces on the cheap. The same thing happened during the dotcom collapse.
But these extremists are also in the “club” – guys like Peter Schiff, Nouriel Roubini, Bill Gross and others who media executives know won’t say something to draw attention to financial industry executives as the blame for this mess.
These are the guys who agree to play by the media’s rules in order to protect their agendas. When you truly come to understand the motives and psychology behind broadcasting, you will come to realize that no one on air is on your side.
They’re taking you to the cleaners just as they did during the dotcom charade, just as they will over and over until YOU decide to never watch again. As always happens, the criminals responsible for this economic collapse will escape prison, richer than before.
Sure, there will be a couple of scapegoats like Madoff (who had nothing to do with this mess), just like the scapegoats from the dotcom bubble (Enron and WorldCom) who had nothing to do with that. It happened during the first depression. It happened during the S&L crisis. It happened during the dotcom collapse. It’s happening now.
And it will happen in the future because YOU let it happen instead of demanding the media put an end to censorship and agenda-filled broadcasting.
If you watch the CNBC and FOX, you have a short memory, you don’t investigate track records, and you take what the media and their hired hacks say at face value. Ultimately, they will escape with your money because they are fooling you. And also remember; when you watch, they make money because each viewer boosts ad revenues.
Now back to the CNBC stock manipulators. How do I know they have my book? I sent it to them, but not unannounced. I sent copies after speaking with their producers.
In other cases, apparently some readers (most likely some of the fund managers who ordered several dozen books from me directly) spent their own money and sent copies to the Associated Press, Reuters and other publications. I know this because I received calls from journalists thanking me, praising my work.
I’m not even sure how these journalists got my phone number since it’s unpublished. It’s safe to say they went to some effort to reach me.
Yet, oddly enough, apparently they didn’t bother to put it in their rolodex because I never heard from these journalists again despite their praise. Doesn’t that seem strange?
When you realize how journalists are constantly being pressured by lobbyist groups and their bosses to avoid certain content or individuals who might threaten to expose the truth about their financial sponsors, maybe you can see why they all but forgot about me.
But finally, after having to admit problems with the economy, they interview guys who sugarcoat things. They will never air experts willing to state the truth because it’s not in the best interests of their financial sponsors. And they want to obey the rules set out by producers or else they won’t be invited back to market themselves.
Once again, it’s all about protecting their financial and political agendas, as I’ve discussed so many times. After all, these TV hosts and journalists certainly don’t want to lose their jobs. What they don’t realize is that America’s media machine is getting chopped up each day.
As the balance sheets of the biggest media organizations continue to implode, many of today’s journalists will soon find themselves working for blogs instead of writing for the New York Times, Reuters, etc. Others will beg for ghost-writer slots at publishing companies; you know, the guys who write books for Obama, Soros and others.
That’s right. The fact is most books written by so-called “big names” are almost always ghost-written. I’m willing to bet Schiff even had his comic books ghost-written.
Whatever they decide to do, thousands of journalists won’t be working for America’s propaganda machine in the future because it is self-destructing by the day.
In other cases, I know some reporters have used my data and insights as their own. I’ve caught them doing this on a couple of occasions. Since I don’t read much of what the media writes, it’s likely this has been going on a lot more than I am aware of. And of course they didn’t give me credit because they have been informed to keep me out of the loop.
Let’s get back to CNBC. You need to ask these bozos why they ignored my attempts to warn the public as early as January 2007. By now you should know why.
By summer of 2007, Cramer was preaching Dow 15,000 and telling everyone to buy blindly, as was Kudlow and his puppets like Don Luskin and the rest of his pro-Wall Street crew. In fact, according to YouTube (which is where I check on these clowns for record-keeping purposes) Luskin still thinks the economy only has a "few road bumps."
Part 3 of this series continues here.
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