Did anyone see the Larry Kudlow show yesterday on CNBC? I leave it on after Fast and Mad Money (just to get my ire up at the right-wing pro-capitalist propaganda), otherwise I hate this former Reagan economic advisor, who thinks if you make rich people richer the money 'trickles down' to everyone! - we've just found out how that doesn't work - the wealthy simply move their wealth offshore so the IRA and US can't get to it. Whatever's left over after fur coats and yachts, that is.

I wanted to pass on the info that there were several stock analysts on who admitted that when they are on TV they simply "talk their book", in other words, not what they really think, but what they want you to do to help their own individual stock positions, long or short. (Cramer made over 100 million shorting stocks then bad-mouthing them on tv - now they have disclosure rules to prevent that). They admitted that everyone who comes on tv sees that an an opportunity for a "free commercial" for themselves and their position. They said "Warren Buffet never tells you what he's doing, only what he's already done, you find out too late to invest alongside."

So, the gyst of all this is: IGNORE the tv and other analysts, they're not giving you the straight story. I had already found in the 80's that if you took all analysts into consideration, you'd find something like this: 6 buys, 4 holds, 5 sells. Meaning, "worthless advice", as you may as well toss a coin to get the real implied direction. They never pay for "bad calls", so they are basically immune; I assume they only give out information that their parent company tells them to disemminate.

Somehow these charlatans still get air time, so one can assume that "financial networks" like CNBC are nothing more than giant informercials that run 16 or more hours a day, trying to "sell capitalism to everyone" that's gullible enough to get sucked in. All we end up doing for the most part is supporting the millions of "financial professionals" who are the parasites of capitalism, sucking away a portion of every investment dollar that hard-working citizens have been able to save.