(Hat tip to Zero Hedge for putting us onto this story)
For some strange reason, Erin Burnett of CNBC blew a gasket today when Bond Bear Mike Pento made his case for a bubble bond market. She claims that he “was rude” but I just don’t see it. What I see is a “moderator” (what she called herself) that didn’t like hearing someone make the case for a blowup in the US bond market.
Given the fact a Bond Bull was also on the show at the exact same time, you would think that a moderator would love salivate over such a strong opposing opinion to make great TV.
Nope.
Rather than sitting back and having the Bull and Bear go at it, Burnett decides to take the bull position by making a statement in the form of a question that challenge Pento’s bear position. OK, it’s her show …. but why does she blow a gasket when Pento begins – rightfully so – challenging her? He wasn’t rude in the least. He was firm in his position. I don’t care if you think the guy is right or wrong – you have to love the fact he is taking a position and backing it up.
So why does she blow a gasket? Cheerleaders don’t like the opposing team. Unfortunately, Burnett forgot she was the referee and the other team had already taken the field.
Am I wrong? You decide and let me know.
Regards,
George
@Klaus – I’ll gladly have him on our program anytime. I’ll even take the bull side just to create a great debate – and then I’ll boot him off 🙂
Peace,
George
@Big Bad Brad – Mike was getting whacked from both sides and rightfully decided to take on the biggest mouth in the room.
Best,
George
@Bond Short – though bonds could rally further as global fundamentals get worse, causing a “flight to security” into the smallest midget (US Treasuries), I agree the party is long over for those who have yet to arrive – and a good time to sell for the early birds.
Regards,
George
@Bond Short – I don’t mind Mike being passionate because he backed up his position with sound facts. Erin, on the other hand, was passionate about being challenged with a question she could not answer.
Best,
George
OK, you got me. What is H.T.B.A.M.C.P.?
Curious,
George
@rapidrob – Agreed that CNBC is dropping the ball on its viewers. They are so concerned with keeping advertisers that it is affecting content. Bulls are always welcome on the show, while bears are brought on and treated as “entertainment”. If they truly cared about their viewers, they would embrace bear arguments and help investors profit from the downside.
“CNBC will become rapidly irrelevant” … They may already be there.
Regards,
George
@BrendaMW – can’t agree with you more. Once Burnett got twisted, she simply pulled the plug when the rest of us were actually looking for her response. Thanks for chiming in!
George
What do you expect from someone whose every thought comes off a teleprompter?
She wanted to shoot down his ascertation that the Fed was artificially stabilizing the bond market but couldn’t and when he asked who else would keep buying US debt as it approaches total GDP (insolvency) she didn’t have an answer. He doesn’t have to show who WOULDN’T buy US debt…she has to show who WOULD so YES the onus is on HER…that’s like having to prove innocence rather than guilt in court. But rather than address his point she instead retorted with another question about where else governments would invest their money if not in US debt. Someone who was NO CLUE what they’re talking about will either change the subject or respond to a question with another question. She did both in one shot.
At the end she kept saying she wanted to explain…well if she truly had a rational explanation she could have given it when he had stopped talking instead of coming totally unglued and calling him names. Someone who was NO CLUE what they’re talking about will also resort to name calling and cutting off their adversary in order to play the injured party and have the last word. Again, she did both in one shot. Pathetic.
Erin and CNBC generally have been waving the KING DOLLAR flag for so long that no reasonable person could expect objective behaviour. CNBC will become rapidly irrelevant if more dialogue is not entertained regarding the reserve currency issue and the wholesale monetization of US debt by the Fed. She simply shot the messenger.
holding a debate without a moderator.
(sometimes confused with waste of time)
turn the lights on please
H.T.B.A.M.C.P.
Mike is passionate over what he has to say.
Time to sell my bonds.
I always love it when a TV talking head gets baked.
The only mistake that Mikey made was directing his points
to the interviewer instead of the guy trying to make the bull side.
Bring Mikey back !!!!
Yeah, I think it’s PMS – he was a little rude, but didn’t deserve the “if you want to come back on this program ….”
Tony, don’t mince your words 🙂
PMS – or she’s just naturally a bitch.