Tyler Durden just landed a sharp upper-cut on Dennis Kneale's jaw. Tyler sent me an email in which he invited Dennis Kneale (via his producer Dave) to a real debate:
I am sure you have by now read my response to Dennis’ segment last night. I would like to offer DK the opportunity to defend his position however in a medium away from CNBC: I will let him choose what that is, however I would request several things:
- preservation of anonymity
- no commercial breaks
- ability to finish sentences without interruptions
I am departing the country tomorrow so we can have the debate when I get back on the 13th. I believe this should give Dennis enough time to prepare.
Alternatively, if Dennis would like to send a standalone letter or explanatory piece, Zero Hedge will be happy to publish it.
So far, Tyler has not received a response (although when CNBC first contacted Tyler, they wanted him on the air within hours). I will keep you updated if Dennis decides to do the right thing.
On a related note, Dennis went off on another Evangelical rant (this guy is starting to rival the preachers on the low-quality local channels). The most amusing part of his “episode” is the fact that he his losing perspective and keeping to his “The Great Recession is over” prediction. For those of us on planet Earth, the employment data Thursday morning still sucked. In fact, although Dennis the television anchor claims the recession is long over, the market is putting money where the proverbial mouth is and rapidly dumping equities. I guess they haven’t got Dennis’ religion.
Moreover, Wednesday’s automobile sales data was another poop in the rancid hole: Ford Motor (F) smaller-than-expected 11%; Chrysler Group 42% decline; General Motors (GMGMQ.PK) slipped by 33.4%; Toyota Motor (TM) reported a 32% drop; Honda Motor (HMC) slid almost 30%; Nissan (OTCPK:NSANY) reported U.S. sales fell 23%; Hyundai (OTC:HYMLF) reported an 18%; Volkswagen (OTCPK:VLKAF) sales fell 18%; BMW June U.S. sales down 20.3%; and, Mercedes-Benz sales fell 22.6%. This is not exactly the lotus blossoming out of the mud.
As Dennis admits in his most recent monologue, he is selling hope. But as all pro investors and traders know, “hope” is the quickest way to bankruptcy. Dennis says he has lived through all this before and his buds on Wall St. say things are great. Apparently, Dennis has not learned to respect the markets and their ability to do the unexpected (although, in this case, I think many years of a weak economy is not exactly illogical based on the evidence — that is, the evidence Dennis won’t discuss).
So, ZeroHedge seems to have a stronghold on Round 2. The only way for Dennis to escape defeat is to step into the center of the ring and debate for real.
Did you miss Fight Club Round One? Catch up now: Fight Club: ZeroHedge v. CNBC, Round One