Jim Rogers Says CNBC Is A PR Agency

I wonder if Jim Rogers will be asked to appear on the business channel CNBC ever again after calling the TV station for a “PR Agency” on a live broadcast Tuesday morning. Referring to the sharp rise in European banking shares over the last days, Mr. Rogers was asked if he, in that sense, could say that the  EU Stress Tests had proved to be  successful:

“Well, I said it was PR, they got the stocks up. That’s the whole purpose of PR; to make stocks go higher. And that’s what CNBC and many, many PR agencies are all about.”

Jim Rogers

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The famous investor Jim Rogers appeared on CNBC Europe Tuesday morning, talking about the earnings season, the euro and the European bank stress test.

Here’s a quick summary of Mr. Rogers’ response:

On earnings: “Forget about them. They’re history. Worry about next year.”

On the euro: “I still own euro. I’m not selling euro. I have absolutely no clue to how it’s going to work out.”

On the EU bank stress test: “The stress test was a total waist. It has no influence on what I do with the euro or anything. That was just PR and nothing less. 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.”

Related by the Econotwist:

Wolfgang Münchau: A Cynically Calibrated Test To Fix The Result

Weekly Outlook: The European Post Stress Test Syndrome

EU Bank Stress Test: Commentaries & Market Reactions

EU Bank Stress Test: Here’s The Full Package

To Europe From Goldman Sachs On The Stress Test Eve

Financial Authorities See No Point In Stress Testing Norwegian Banks

All Nordic Banks Will Pass Stress Test, Nordea Says

European Bank Stress Tests Are Loosing Credibility

The EU Stress Test: Working The Media


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Filed under International Econnomic Politics, National Economic Politics