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    If you want to lose all of your money, you could do worse than tune in to CNBC on a regular basis.

    The network is a cheerleader for an overvalued stock market and the Federal Reserve policies that have pumped it up - and which are steering the economy straight into another recession.

    Seven years after the financial crisis ripped across the globe, the world is mired in debt. This is particularly worrying since the "Debt Supercycle" that began 30 years ago is now supported only by the largesse of increasingly shaky central banks.

    Today the world is buried in more than $100 trillion of debt. Hanging over that is another roughly $700 trillion of derivatives. Is it any wonder many economies can't grow when they have to service all of that debt and face such systemic risk?

    Of course, the cheerleaders on CNBC have absolutely no clue about what is going on... and the dangers of this ignorance are too important to ignore.

    Yes, there are some thoughtful, experienced journalists working at CNBC like David Faber and Steve Liesman- whose pained expression when enduring his colleagues' hyperbole tells a story in itself. And Rick Santelli continues to point to the dangers of what the Fed is doing.

    Unfortunately much of the substance of Mr. Santelli's excellent reporting gets lost in his proclivity for ranting rather than reporting.

    But much of the rest of the staff just engages in mindless cheerleading of the markets or soft-pedaling questioning of equally clueless guests...

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