Who do YOU listen to? Is Jim Cramer the guy you want to believe right now?

As the financial collapse of 2008 turned into the Great Recession in 2009, The Daily Show host and comedian, John Stewar,t got really serious in going after CNBC business news channel, the business press, and in particular, CNBC show host Jim Cramer, for not being honest with the American Public.  Basically, Stewart said the financial reporters knew that the big banks were in trouble, and yet pretended not to know on air, encouraging average Americans to hold their stocks as prices dropped and dropped and dropped.  Millions of people lost huge chunks of their retirement investments, and millions more lost their houses in that crisis. 

The on air battle between Stewart and Cramer went back and forth, here's one news segment showing part of the fight.  I can't find the full clip of when Jim Cramer went on The Daily Show and was interviewed live by John.  Let's just say, it was tense. 

So... today, nine years later...  this is a CNBC article right now (11:18 am, 10/23/2018)
Cramer advises patience, not panic, saying don't dump stocks in this sell-off

The Dow (Dow Jones Industrial Average) is down 385 point this morning, bouncing back a bit, since it dropped 500 points earlier.  That is after dropping over 1,500 points from it's peak on October 3rd.  From 26,818 to 24,961 in 20 days.  The Nasdaq, the more tech heavy, and to be honest, the more important index these days, is down 134 points, or 1.8%, this morning alone.  The Nasdaq is down from it's peak of 8,109 on August 29th, to 7,341 at the moment, on October 23, 2018, as I write this.

I'd say this is a really good time to consider dumping stocks, if you're invested in them.  Hey, a serious look may make you want to stay in the market, or it may make you want to sell.  But it's definitely a good time to consider the option of selling. 

My whole point is this.  Jim Cramer, and the financial  news media, are not under contract with you.  They are paid by their networks or print media, which is paid by the advertisers.  Their job is to keep you from bailing out of the market, and to try and keep the bottom from dropping out of the whole financial system when it drops hard, or begins to collapse.  And if you lose money, well, that's why they have that little disclaimer in the beginning of the shows.  It's your fault, legally speaking, not theirs. 

Personally, I think the stock market just can't hang on any more, things are too sketchy.  I think we are FINALLY heading into the inevitable next recession.  If the economy was really roaring, like they say it is, then interest rate hikes by the Fed would just lead to minor corrections, and things would bounce back.  But that's not what's happening.  Super low interest rates are life support for the economy.  It's like giving Grandpa oxygen in the hospital when his cancer is taking him slowly.  It helps him keep going a while longer, but not forever.  The financial markets have been on low interest "life support" for nearly ten years.

It looks like Jim Cramer, and CNBC as a whole, and much of the other financial media most likely, is doing the exact same things John Stewart called them out for in 2009.  Nine years later... same game, different recession, perhaps.  We'll see.  Except this time there are a whole bunch of well known, and financially savvy people, like Jim Rogers, Robert Kiyosaki, Peter Schiff, and others, who see a big recession coming.  And some unknown bloggers types, like me.