The most retarded thing I've read this week

[rrcamp]

http://www.cnbc.com/id/27477819

What's the requirement for being a CNBC writer? A pulse?

 

[acptulsa]

Who in his or her right mind wants government to continue to grow?

 

[sevin]

Wow. Just wow. His whole argument is flawed.

I can understand why businesses borrow in order to grow, but a good business pays off the loan ASAP then once they've paid back their loan they start making real profit. A business that has to borrow just to keep from going under is doomed.

 

[carlangaslangas]

He just graduated from Harvard, so he's still got a lot more to learn.

 

[theoakman]

that kid is a douche. He's the nephew of Jim Cramer. Legacies have a bad habit of being worse than their fathers. This kid is Cramer 2.0.

 

[rrcamp]

I understand the point he was trying to make: that taking out a loan to buy a capital good isn't bad because that capital good increases your wealth even after you paid the loan back. Like borrowing $100 mil to build a factory, then paying the loan back and still having your factory.

But this idiotic pile of crap doesn't even spend 5 seconds thinking "Hey, did we really spend that $10 trillion on investments that pay off? On factories, mines, and seeds?" NO! It was blown on mortgages, consumer credit (for TVs, SUVs, bullshit). How does he not think of this? How can he lie so obviously and say it was all invested?

Does CNBC even have editors?

 

[Knighted]

I'd have to agree, that little whipper snapper is delusional. He looks like he just graduated from high school. I'm surprised CNBC would hire such a young writer who is obviously very inexperienced and seemingly incompetent.

With his attitude about debt being a godsend, I can see him receiving a harsh reality check sometime in the near future. If his views on government debt are anything close to his views on personal debt, he'll probably end up filing for bankruptcy before he's 30, shortly after coming to the harsh realization that if one keeps digging themselves into an ever deepening debt hole, eventually they won't be able to climb back out.

 

[Otter Mii-kun]

how typical

Typical "we gotta keep lending/get people borrowing more/spend our way out of this mess/saving is bad and caused this mess" and "Hoover did nothing" Keynesian propaganda.

Another similarly retarded thing I read a few months ago before this meltdown was that this financial crisis was cased by a "savings glut". Our savings rate is currently negative and has been for years. If our savings rate is negative, how the hell can there be a "savings glut"?

 

[theoakman]

I'd have to agree, that little whipper snapper is delusional. He looks like he just graduated from high school. I'm surprised CNBC would hire such a young writer who is obviously very inexperienced and seemingly incompetent.

With his attitude about debt being a godsend, I can see him receiving a harsh reality check sometime in the near future. If his views on government debt are anything close to his views on personal debt, he'll probably end up filing for bankruptcy before he's 30, shortly after coming to the harsh realization that if one keeps digging themselves into an ever deepening debt hole, eventually they won't be able to climb back out.

he's Cramer's nephew. They hired him because Cramer told them to. This is the reason we are in this mess. People get hired at Bear, Lehman, Goldman, and AIG because their father is important. Well, the only reason their father was important was because their grandfathers were important. Eventually, they don't even realize what they did to get into their position of power and you end up with a shit storm because no one is qualified to do anything and the only thing they are good at is screwing up. Case in point, this kid.

 

[autobot]

Cramer is my uncle, too, I swear.

I think I just found a new way to get a dream job.

Uhm, can anyone impersonate a famous tv money guru, pays 1000 bucks for ten minutes?