Dennis Kneale: The Ultimate Contrarian Indicator

Hope is the magical elixir of any rebound.

- Dennis Kneale, CNBC Reports, July 1

There are a lot of idiots on CNBC (Leisman, Insana, Ratigan (formerly), Kudlow) but I think Dennis Kneale is the biggest one. His basic rationale is to apply the self help industry’s key premise, positive thinking, to the economy and investing. Kudlow subscribes to this premise as well, but perhaps not as strongly as Kneale. The claim here is that this recession is to a great extent a mental event, the result of pessimism. Therefore, optimism and positive thinking could get us out of this economic funk and itself provide fuel for a recovery.

Apparently, he has been going after the blogosphere for its negativity in his show on CNBC at 8pm EST that nobody watches. I never watch it. Frankly, I have a hard time watching Cramer because of the racket. But at least Cramer has a lot of valuable insight into stocks. Kneale, by contrast, is a complete moron. He is notable for his ability to get everything completely wrong. He is the perfect contrary indicator. You can almost be certain that the exact opposite of anything he says is true. And I’m more serious than joking.

Comments

[Free Mind:]

Absolutely... He hides his ignorance behind attacks on bloggers... But is absolutely ignorant (among others on the Vix, if I have to believe ZeroHedge). Not that it is a huge difference from the rest of the stock pumpers at CNBC.

Jul 07 08:22 AM

[John Galt:]

Dylan Rattigan was super confident, most would probably say arrogant but I think he was fantastic at his job and I liked him.

Sue Herrera is the biggest fool of them all. I loved her pouting on gender income inequality her complaining that she worked through all of her lunch breaks. Comedy Gold.

Then we have Cramer ...

Erin Burnett is my favorite.

Jul 07 08:33 AM

[MichaelJ007:]

Attacking bloggers on your show with a few data points is apparently considered strong material on CNBC- you know those experts who so accurately predicted the credit bubble in the first place.

Jul 07 08:45 AM

[User 357705:]

I'd be banned for stating the unvarnished truth about Dennis Kneale.

Jul 07 09:18 AM

[cashew:]

Kneale is the worst addition to CNBC who now looks like they are becoming FOX with Kneale, Kudlow, Francis, Caruso Cabrera. The best person they have and don't use wisely is Pisani !

Jul 07 09:27 AM

[drewriders:]

I hate Kneale too. He is such a cheerleader. How he got his job is beyond m e.

Erin and Steve are the best on that channel.

Jul 07 09:59 AM

[User241885/...:]

It is ironic that Dennis Kneale's rampage against bloggers all began when he made the "The Recession is Over" call two Fridays ago. Less than a week later, even cheerleading Joe Biden had to admit that the economic data proves otherwise.

People can argue whether or not Dennis is a hack, but there is no doubt that he merits his title as ultimate contrary indicator.

"The Recession is Over! Long Live the Recession!"

Jul 07 11:02 AM

[swaps:]

Hey, Ratigan was the lone voice of moral compass during the meltdown last autumn. Day after day he had to deal with people who had exemplified all out greed and corruption - and Dylan could clearly see that Wall Street could care less about the carnage - just so they got their bonuses for the destruction.
When Kudlow comes on the air, I switch off CNBC. He should be put on the street, from whence he came years ago when he was walking from network to network as an expert. In those days he seemed to have no visible means of support.
In a real world he would not have a greedy, immoral social class to protect and empower him as a propogandist.
As for CNBC, I pointed out in an e-mail that one of the marketers buying air time was being pilloried on the Internet for amoral business practices. Of course, CNBC defends the right to be amoral.
Hav they forgotten when the techs crashed CNBC had to hide out within MSNBC for a few years while they waited for the public to forget their sins of omission and commission in the bubble build up.

Jul 07 11:03 AM

[oldmaster:]

CNBC is simply another example of shobiz today, masquerading as news and information of value, but is actually nothing more than a commercial enterprise, al'a Headline News. USA Today started it all, appealing to people who are satisfied with a soundbite vs. genuine journalism. The "Money Honeys" and Kneale are largely no-talents when it comes to expertise, but they serve a purpose for NBC Universal by attracting a dozen or so viewers. Kidlow and Haines are dinosauers who cannot resist injecting their political views and bombast--apparently Kneale is following in their footsteps.

Jul 07 11:05 AM

[Larry House:]

I don't want investment discussions to get personal; I am sure Dennis is a nice guy. His views are certainly fair game when he makes them public (the same as those of us who post on SA). I just don't think Dennis moves the needle enough to be considered an indicator of anything. The man shot off his mouth, he took criticism personally and attacked his attackers, and now it should all just go away. We have more important factors to consider. Let's not give him the continued exposure, which I think he likes but doesn't deserve.

Jul 07 11:52 AM

[montyman:]

Hey Donkey Kong, are you still firmly bullish looking ahead or do you see a turn downwards (and if so when)? Thanx.


On Jul 07 02:59 PM Donkey Kong wrote:

> Dennis Kneale is a vituperative ignoramus!

Jul 07 03:58 PM

[I need more...:]

Tease


On Jul 07 09:18 AM User 357705 wrote:

> I'd be banned for stating the unvarnished truth about Dennis Kneale.

Jul 07 04:35 PM

[I need more...:]

"Look, you have to act like a girly man cheerleader; say all sorts of stuff that will make you look idiotic; you have to have a delivery like Ned Beatty in Deliverance; and, it's not radio and they'll see you're ugly". "Can you do it son?

I get my own show, with my name, right? I'll be on TV?

"Yeah"

I'm in. Do you have Erin's number?

Jul 07 04:40 PM

[W.E. Heasley:]

His basic rationale is to apply the self help industry’s key premise, positive thinking, to the economy and investing.

You may be correct. However, “expectations” is the single largest variable in Economics.

Jul 07 06:36 PM

[redwine44:]

Geez, there are a lot of personal attacks here. What if Dennis is right? By definition, recessions are 2 consecutive quarters of shrinking GNP. We won't know until 3-6 months after the fact when the recession ended. So, it is premature to call him wrong, and not very usefull to call him an idiot. But, I guess that is what the blogosphere is for. He, like Kuddles, is just an outpsoken believer in the FREE part of Free enterprise. Can any of you tell what the role of the Federal govt. in our economic life actually is supposed to be as per Founding Fathers? Have any of you insult slingers read or studied the Constitution? Is this panic any different than the panics suffered in the 1800s? Was Alan Greenspan any different than just a flip-side reverse of the Fed errors that took our great country into the depression? Did anybody hear a few weeks ago, even the Democrat booster Keith Boykin, admit that Roosevelt's policies did not get the country out of the depression, it was only war spending that did the trick? Can you contributors offer some constructive writing, or just fling around a bunch of wisecracks that we would have been proud of back in 10th grade? Oh, it is time for me to turn back into a pumpkin. Goodbye, Rumplestiltskin.

Jul 08 01:47 AM

[Jugheadjack:]

Kudlow and Kneale are banned from being on TV in my home.

Jul 08 09:17 AM