Meltdown on CNBC: 'Shoot to the capitalist system'

[Newsjock]

Run time: 01:06 https://www.youtube.com/watch?v=R9vzHRPR61k   Posted on YouTube: October 30, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: October 31, 2008 By DU Member: Newsjock Views on DU: 1458

 
Something truly bizarre happened live on CNBC today. Looks like that meltdown is starting to get to them.


http://www.streetinsider.com/Insiders+Blog/Charlie+Gasparino+Burns+Out+On+Live+TV/4110864.html
Charlie Gasparino Burns Out On Live TV

On CNBC, Charlie Gasparino looked either drunk or burnt out from his incessant reporting on the credit crisis. On several popular stock message boards, people are speculating that Charlie must have been drunk because he was not responding to any of Dylan Ratigan's questions.

[The Woodpecker]

1. I've noticed many of the business commentators have come unhinged lately

This alone tells you the bottom has been put in place. These people never will admit the market is heading downward in a death throw until it already has. Then they act like the world is ending and theres no hope for the markets after it bottomed out.

Now they'll go months wondering if a bottom has been made, always warning that it's much to early or much to risky to put any money in the market in these perilous times. They won't turn bullish again until the DJIA is back above 11,000. By then it's to late for the public.

Squawking talking heads, you gotta love these guys for pure entertainment value.

[Chrishelms]

7. RE. I've noticed many of the business commentators have come unhinged lately

CNBC people have a very difficult job. They're working on a network which by the very nature of what it covers has to have a conservative bias, they are (sometimes not hyper-conservative) New Yorkers who are almost obligated to defend George Bush on air all the time, even when he is pushing for a massive program to nationalize the losses of multiple corporate interests that is so widely hated that almost nobody likes or wants it. The network apparently gets inundated with EMails if anybody there mentions Obama in non-sneering terms. I think they've been banned from using the word Socialist unless its a direct reference to Obama, and no matter how many bizarro, unexplained, mysterious, perfect 250-points-in-four-minutes upward moves the Dow makes, they can't even make passing reference to The Plunge Protection Team, which George Bush has turned into a personal vanity project.

In a word, I think the CNBC people are not really allowed to do their jobs as journalists. If Gasparino has taken to drink, I can't blame him.

[freeradicalm]

2. "shoot to the capitalist system"

Sorry, but someone please translate that horseshit, wtf does that mean?

[vaberella]

3. It's called losing one's 401K. n/t

[tama]

4. And that

says all you need to know about the blood sucking capitalist system. It needs constantly more and more injections of fresh blood to function and then it does not.

National socialism for the benefit of a small elite works, with CHANGE!
- Gorbachev
Global capitalism for the benefit of a small elite works, with CHANGE!
- Obama

For those analogically deprived, Obama is the new Gorba. Gorbama :D

[vaberella]

5. Actually let's hope not. I'm not that keen on Government established socialism.

It works for a time but we could collapse. In any event, I like what's going on in Argentina post the collapse of Capitalism and trickle down economics. People taking over the factories and equal pay for equal work and taking what ever profit they make and reinvesting it into the social structure. The Government is good to an extent especially to maintain the laws that protect working people's rights to profit. However, it would be great in eliminating the disparity between the worker and their products...ie...control of our surplus. Marx was a genius. Unfortunately the USSR/Russia, NK, and Cuba got it all wrong. There was never supposed to be a subjugation of the media and Government control should never go that far. It should be a free society with strong social organization and the elimination of Capitalist entirely. I'd actually be quite happy working in a sneaker factory if that was the case. Less exporting of jobs, actually more jobs and providing more pay for the worker not to mention we could still have healthy competition without a risk of economic collapse or outsourcing.

[tama]

6. Orthodox socialism (see: trotters)

states that only orthodox form of socialism is international/global socialism brought by mass revolution lead by an avantguarde party (representing the interests of industrial workers aka "proletariat") to take over all the previous national state structures - national socialism is you know what.

Problem is, the class of industrial workers and the consumerism involved is not enviromentally sustainable. And socialism does nothing to solve the problems inherent in any hierarchic system.

I'm fundamentalist: sustainable way of life.

[vaberella]

9. True.

Unfortunately it's also the failure of Marxism. Forgetting other forms of established social heirarchies----strong believe is just the workers forgoing those various sub-class groups and banding together. However, I fundamentally believe that those other incumbent social issues such as consumerism is something new that can be eventually destroyed. As the enventual collapse of a Capitalist/worker relationship, so as long as we have control of our surplus, which is what is always being generated in any social role (ie a Housewife is making surplus for an entire family and definitely not any control over that surplus) then eventually the possibility of sustainable is more attainable or I should say functional.

[DUlover2909]

10. I lost $150 from my $4000 in 401k

[Lil Missy]

8. What time of day was that shot? The article was 3:55 EST. He did look drunk.