Came across this story from Talking Points Memo. It is emblematic of the cluelessness of mainstream media. Read the quote below and then watch the video.
TPM Reader JC sent me to this interview with Nouriel Roubini and Nassim Taleb on CNBC. Here's what JC wrote: "In this clip, Nouriel Roubini and Nassim Taleb are still being treated as a circus sideshow by CNBC... They're predicting the end of finance, and offering the only clear path out of this mess that I've seen offered (with the knowledge to back it up), and CNBC keeps asking them for stock tips. It's ludicrous. Wall Street media -- CNBC at least -- doesn't realize how bad this is yet. They're stuck in a bubble where they think everything will go back to normal in a few months...."
He hits it spot on. These two guys are talking about a deep structural crisis in the world economy. And these CNBC yahoos can't stop asking for stock tips. Really surreal.
I'm watching it again now. This is a seminal piece of video. You have to see it. I'm not sure I've seen anything that captures -- albeit unintentionally -- the vast disconnect over what is happening today in the US economy.
Predicting Crisis: Dr. Doom & the Black Swan
Not much actually gets me angry but I believe if I saw Dennis Kneale in person I would smash his face into a bloody pulp and Michelle Carusso Cabrerra would only avoid the same fate because she is a woman but she would get a stern talking to.