The November 9 Republican presidential debate in Detroit highlighted the utter economic cluelessness of the overwhelming majority of CNBC hosts and another Rick Perry debate mental lapse (photo).
CNBC host Maria Bartiromo began the debate by claiming, "We will be joined by an all-star lineup of the smartest people on CNBC."
But the debate only proved again why CNBC is the most economically ignorant "financial network." The bad predictions by CNBC hosts during the housing and financial bubble led comedian Jon Stewart to quip on Comedy Central's The Daily Show in 2009, "If I'd only followed CNBC's advice, I'd have a million dollars today... provided I started with 100 million dollars."
CNBC hosts and guests routinely mocked and laughed at sober analysts of the housing bubble, such as EuroPacific Capital's Peter Schiff. Schiff's fans famously put together YouTube videos of analysts mocking Schiff entitled "Peter Schiff was Right," and were able to put together a CNBC-only edition of bad economic advice being given against Schiff's sober analysis during the economic bubble.
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Photo: AP Images