After six weeks of 24/7 screaming at them that we’re going through the worst economic crisis since the Great Depression, I’m shocked that consumers have any confidence. (Sorry, I’m writing this while off-line, so I can’t link to a story about today’s release of consumer confidence figures.) I didn’t live through the Great Depression, but I can say this: Those guys were lucky CNBC didn’t exist. The illogic of the market — especially when it becomes disconnected from reality and reason — is not something that can be covered like the weather. But everything CNBC has become was learned by watching the Weather Channel spend five days tracking a hurricane from the Ivory Coast or Anderson Cooper holding onto a tree while 150 mph wind is blowing his body horizonal.
Knowing the audience could grow bored, the approaching storm must be hyped into a category 5 direct hit on a major city — the worst hurricane of the past 100 years — before anyone will tune in.
That’s how CNBC is covering “the financial crisis.” Has CNBC signed a deal with LLBean yet for survival gear?