Monday, November 12, 2007

Jay-Z and Giselle

Jim Cramer, host of "Mad Money," had commented on the news that Giselle demanded payment recently in Euros, and Jay-Z can be seen flashing 500 Euro notes in his latest video, saying they were partially responsible for the drop in the Dow. Speaking to the Boston Herald about it later, he had this to say:

"I write a column that is tongue and cheek. Is Gisele really to blame? No,” Cramer told the Track. “But when things have gotten to the point that even people like Gisele and Jay-Z realize the dollar is too weak, things have gotten out of control. (Italics mine).

Now I can appreciate what Cramer was trying to say, but isn't this just a little bit racist/sexist? Given that Airbus is considering pricing new airplanes in Euros rather than dollars, apparently lots of people are noticing that the dollar is sinking. Jay-Z happens to be the CEO of Def Jam Records, and is reportedly worth about half a billion dollars. So I would think that qualifies him as a "successful businessman." Presumably, managing hundreds of millions of dollars in assets would imply a certain amount of sophistication and knowledge of the relative strengths of different currencies. This smacks of a kind of off-hand "soft" racism/sexism to me along the lines of "What would a black person/woman know about Euros?" Replace "Gisele and Jay-Z" with "Airbus," and the quote doesn't make any sense at all.

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