Folks, I only record these programs because most of the time I am in the field, on a conference call, or dealing with reality. But CNBC today was in a word:
LIT
The “Halftime Report” featured some seriously nasty feuds over the semiconductor industry. It was nasty, incredible and sorry to say Gilman’s Jenny Harrington was well, “p*wned” by Weiss:
Brutal. At the 6 minute mark, the cat fight really cranks up and wow, this is rare on Bubblevision but not rare during historic market implosions as 2001 and 2008 taught us.
Apparently she thinks that the “narrative” is more important than earnings reality. And that’s why buying in the middle of a bear market instead of at the bottom will not only kill your customers, it will destroy your reputation.
That was followed up at 5 p.m. ET with “Fast Money” and Pete Najarian had to do an on air mea culpa about leading investors into the crypto nightmare of Voyager, which filed for Chapter 11 bankruptcy. His reputation took a hit and the entire cryptocurrency world is now on edge.
Ouch.
If video becomes available, I shall add it to this article, but to say today was “quiet” and “bullish” is a lie.
Some very bad things are happening and are starting to move faster and faster thus why the news cylce reflects the insanity we are witnessing.
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