When it comes to the idiot scale CNBC rarely disappoints. This morning was no exception as they had on Marc Faber for an interview this morning. I have often remarked that I was counselled long ago that you learn more about another's knowledge not by their answers but by their questions.
That said, you just know things are gonna get interesting when, 'what's it like to be a billionaire?' Carl Quintanilla, the court jester Steve Liesman and Joe "I went to MIT so take that" Kernan are within earshot of a critical thinker like Mark Faber.
I just love Carl who rose to journalistic prominence with his classic interview of Sir Allen Sanford and from hence spawned his nickname. Well, just when you thought poor Carl couldn't sink any lower on the IQ chart he proves you wrong again. Like this morning when Faber remarked that if a nuclear meltdown occurs "all bets are off" and the genius Carl responded what this gem:
"what do you mean by that, all bets are off? You're talking about human life in Japan or the markets or both?"
Now it could just be an overly critical me or is Carl simply a tad slow up in the attic?
No Carl he means Twinkies and Doritos will not be available in local grocers.He means Avator won't be available in 3D you moron. You might think a financial news anchor who had a functioning medulla oblongata would get the 'all bets are off' analogy but you would be wrong. Maybe Carl doesn't understand what a nuclear meltdown means. Maybe Carl isn't aware radiation exposure=very bad. Is Carl even aware of the Chernobyl incident in the Ukraine? Does he know there is still a 30km 'no go' zone around the area 25 years later? Sadly he probably is not as he is too busy fawning over billionaire ponzi scheme operators to take notice.
Hey Carl read up on that Chernobyl thing and then imagine that scenario in or around Tokyo. You starting to get the picture on "all bets are off" you poor boob.
After everything Faber offered up in the interview, all Steve Liesman could respond with was "I'm a little stunned". Well you don't say. I'm sure all the dupes in Bernie Madoff's ponzi sheme were a tad stunned too when they found out the earth wasn't flat, the tooth fairy doesn't exist and annual 10% returns were, are and always will be fictitious. (just wait till the Ivy league on Wall St. clue into Bernanke and the Fed's ponzi scheme but I digress). Yes Steve Liesman you are a little stunned and to quote the cleaning company owner in Wall Street the movie "thank you for telling me what I already know."
Does anyone know if they random drug test at CNBC? They sure as hell ought to.
Just as I am about to post this piece a friend sent me the following short video from Al Jezeera explaining the reactor situation in Japan. I hope it helps.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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