HOLY SHIT!! lol He decimated Cramer. Wow called him out and I bet he was pulling punches. He could really have had more fun with this. I do like The Daily Show always been pretty entertaining.
Cramer wasn't prepared and got sidewacked with old clips. He should have said that the purpose of the stock market is not speculation but for corporations to raise money so they can invest ,expand and employ. For all its volatility the market has been the grandest idea of capitalism. It has created 100's of millions of jobs across the world. This system has allowed corporations to raise capitol mostly free of the tyranny of Government. Capitol raised from the public so that the best interests of society are a factor in the exercise of commerce. Capitol gains and dividends are the incentive for public investment. The protection of the public comes from the price of stock. If the public is unhappy the price goes down. When the price goes down the individual needs to decide the next action. The individual will look to CNBC and listen to CEO explain the low price. He will also listen to the anchor. The only fact is the current price of a stock, everything else is just opinion. Would Stewart blame Cramer for not telling him to buy Ford at $1 if in 3 years Ford is at $20. Why would he blame CNBC for not telling him to sell before the drop. He complains that the public was told to buy all the way down. I can't see a conspiracy here. Not when Buffet loses 25 billion and we lose 200 billionaires. Very few CEO's walked away with ill gotten millions. Only those that were grand fathered going into this market drop. This is what Cramer should have said if this debate was to be about capitalism and not populism
Have you ever bothered to take a look at an inflation adjusted chart of the S&P500's capital gains over the last 100 years?