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Posted by on Jul 28, 2010 in Markets, TG Roundup

Jim Rogers: CNBC is a Market PR Agency

Jim is a straight shooter. He is one the best minds there is who has uncanny knack with commodities and macro trends. I pay attention whenever he talks. You too should pay attention to this veteran and ignore other pigs who always promote the Street on CNBS.

He echoes my sentiment, “European Stress Test is a total waste.” Zero Hedge has a better take on his latest appearance on CNBS Europe :

A “cheeky” Jim Rogers appeared earlier on CNBC Europe (which incidentally is orders of magnitude better than its US equivalent), and confirmed the depths to which the once relevant and informative TV station has now fallen. In a discussion over the European Stress BS, the topic turned to the role of PR agencies when it comes to shaping popular perceptions, at which point this slipped: “The whole purpose of PR is to make stocks go higher. That’s what CNBC and many many PR agencies are all about. Yes, they make things look better for a while. Are they really better? No.” Propaganda, in other words. And in the corporatist circle jerk world, advertisers still flock to it, even as the broader public reaches levels of skepticism never before seen courtesy precisely of such blatantly fraudulent media contraptions, and vacates the GE soon to be spin off in unprecedented quantities. The American public may be lazy, but it sure is getting more intelligent, and wiser to the tricks of the media propaganda trade.