I guess financial propoganda only goes so far before investors pick up the remote and click to another channel.
To be fair to CNBS, the ratings collapse seen above is exacerbated by the fact that the ratings are being compared to last October when the financial system was on the brink of collapse.
That being said, the fact that Jim Cramer's Mad Money has lost half its audience after a 50% move HIGHER is pretty pathetic. The guy is the biggest bulltard on TV. Why aren't investors flocking to his show by the millions after such a gigantic move?
Meanwhile, the blogosphere continues to grow as people look for the truth instead of listening to a bunch of self serving banksters that are constantly rolled out hour after hour on bubblevision.
I can tell you that my viewership is up considerably over the same time period despite the fact that this is a bearish site! Many other bearish blogs are also seeing large increases. If the economic recovery was here for real, wouldn't the viewer trends be the exact opposite?
Even without an economic recovery, shouldn't CNBC's ratings be up after seeing such a huge move higher in the markets? Shouldn't a bullish biased network thrive in such an environment?
The way I see it, Americans are losing faith in both Wall St and the financial media. They have burned twice by both of them in the past 10 years to the tune of 50% thanks to the bursting of the tech and housing bubbles.
Perhaps CNBC needs to re-evaluate their programming and begin reporting the TRUTH about how Wall St has robbed the taxpayers blind instead of helping them hide their skeletons in the closet!
Note to CNBC: Without ratings you have no network. It made sense for CNBC to bow to Wall St when times were good and the banks were throwing them millions of dollars in ad revenue at them every year.
Those days are now gone! The only ads I see on there today are "cash for gold" that have those cheesy phones ringing in the background.
Here's an idea: How about doing documenteries on the fraud instead of wasting an hour of my time giving me a behind the scenes look of Wal Mart?
Perhaps their next hour long "special report/documentary"" should focus on an investigation into how the AIG bailout put $12 billion right into Goldman's back pocket instead of doing a piece on the porn industry.
How about a "special report" showing how the TARP was illegally spent. I would find this far more interesting than their recent segment on highclass callgirls.
The Bottom Line:
This network is rapidly becoming a laughing stock. If CNBC needs to increase viewers they should just sell an hour of airtime to the makers of ShamWow. I am sure that could pull a .2 share and CNBC would get paid for airing it!
Why pay Jim Cramer a salary when you could make money selling the Snuggie blanket?(scarcasm off)
IMO, if CNBC wants to gain back any credibility they need to start thinking about lifting up the curtian and exposing the criminals on Wall St.
Instead of embracing the fraud they should be reporting about it!
The way I see it, CNBC's ratings will continue to plunge the worse this recession gets. Nobody wants to hear "The Recession is over" or "The Good Times are Back!" when they are worrying about where their next meal is coming from.
Let's hope that CNBC will begin to embrace the fact that the recovery ain't happening.
If they are smart enough to come to this obvious conclusion, they MUST begin to start exposing the fraud.