Jim Rogers: Stress Test, CNBC "Got the Stocks Up... That's What [They] are all About"
The market cheerleaders at CNBC caught a dig from Quantum Fund co-founder and investment biker Jim Rogers this week. In a Tuesday interview with the famous investor, Rogers made a couple choice comments. First, he explained his perspective on the EU banking system stress test:
“…the European stress test was a total waste, I mean, I know you have to talk about something on CNBC and in the press, but that was a total waste… that was just PR and little else.”
Already on a tear, he took his criticism a step further… because the EU isn’t the only propaganda machine in town. He then called out the interviewing TV network for its own special role in the market:
“I said it was PR… they got the stocks up, that’s the whole purpose of PR, make the stocks go higher. That’s what CNBC and many, many PR agencies are all about.”
You can see the video below, which came to our attention from The Daily Bail in its post on Jim Rogers calling CNBC a public relations agency for stocks.