I was originally going to title this post “Jackie DeAngelis Must Die”, but I thought she might take it the wrong way.
Anyway, earlier this week, Ms. DeAngelis “interviewed” famed short-seller Bill Fleckenstein on (gack, choke) CNBC, every permabull’s favorite network. Right out of the gate, she attacked him:
You can watch the interview at the bottom of this page if you want, but I can save you the time by simply stating Mr. Fleckenstein was ambushed by a trio of CNBC permabulls, deriding him for missing out on the past five years of market rally.
I think it’s repulsive for a network to take a guest’s time and use it to berate him (why Bob Prechter shows up on CNBC baffles me, since they just laugh at him). DeAngelis’ entire demeanor toward the Fleck was condescending, smug, arrogant, and mean-spirited. I can easily picture her at cheerleader practice, chastising a girl for being cut from the squad for gaining a few pounds. “I guess that cheeseburger mattered more to you than the Spirit Squad, huh, Becky?”
Ya know, if we had been in a government-rigged bear market for the past five years, CNBC wouldn’t even exist anymore. Bear markets tend to be over all too quickly, but I distinctly remember at the depths of the 2008/2009 bear market that Jim Cramer distinctly said without any qualification that he would tell anyone he cared about to stay out of equities for – – and I’m not making this up – – “the next five years.”
I’m weary of the female business “journalists” being hired for their pretty faces and bra sizes. I’d much rather have a woman that looked like Marlon Brando ask insightful, probing, and thought-provoking questions. They don’t have to pander to their guests, but surely there are ways one can draw meaningful ideas from smart people besides bullying them.
Oh, and if there’s one thing I wish I could have shorted, it’s CNBC viewership. Even with this phony bull market, CNBC is in a free-fall. Once the next bear market begins, I imagine CNBC will simply close up shop completely. Then any questions of the existence of a munificent God can finally be settled.