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Some people think Comedy Central is the best comedy channel on cable TV but I like to laugh it up watching CNBC.

Yesterday was the perfect example of how funny CNBC can be; the Dow was “rocketing” up to an all time high around noon near 10750. The computer graphics guys were busy flashing “Breaking News” in bold white text with a red background signifying that something important was happening. Every five minutes with every uptick of the Dow we got another “Breaking News” popup. By late afternoon, the Dow was slamming back down to 10680 but it was too late for the CNBC comedy team.

They had already booked the usual parade of clowns claiming the Dow was set to explode over the next few weeks and months. I call them clowns because CNBC “analysts” and “experts” are perennially claiming the Dow will break records sometime in the near future. It’s never a bad time to buy any stock; it’s always buy now buy today.

The rest of the shows on CNBC are perpetual repeats such as Larry Kudlow praising Bush for tax cuts, hand picking selective data and pointing out how awesome it is to have had those tax cuts and of course, any month now the Dow will break 12,000 (he’s been saying that for the past 5 years!).

Oddly enough, I could repost a copy of this exact post a year from now and it’ll likely be the exact same thing on CNBC. That’s kind of what makes it so funny.