Why Comedians are Important

Are comedians indicating a coming change? When Jay Leno, Jimmy Kimmel, Saturday Night Live, Dave Letterman and Jon Stewart all spend a huge amount of time joking about the stock market and the economy (how pathetic and bad it is)...is that a signal of a top in pessimism (and hence some kind of bottom in markets)? The exchange between Comedy Central's Jon Stewart wasn't funny at all actually...Stewart was as serious as a 60 minutes reporter when interviewing Cramer on his show last week. The interview was on the front page of Yahoo news, covered by CNN and made the from page of the NY Times website on Friday. I cannot know if last week was the low for the year...nobody can know that without the benefit of hindsight. What I do know is, when the media (and comedians in particular) cover something this extensively...it is almost always signals a coming top or bottom in that subject matter.