Is Cramer actually making sense?
Making Sense of This ‘Ridiculous’ Market : Cramer sounds off on what irked him the most about the markets.
Jun. 15 2010 | 6:51 PM ET
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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June 16th, 2010 at 10:39 am
There is a pervasive and ever increasing stench of nationalism and xenophobia coming from American shores.
Very unattractive.
June 16th, 2010 at 10:58 am
What do you expect from the Detroit crew when they have access to the PPT laws? This market is manipulated for sure but you just have to roll with it. That 1,000 point drop last month didn’t stop without manipulation–guaranteed.
June 16th, 2010 at 11:13 am
Weren’t these the same arguments used to repeal Glass-Steagall and to pass the CFMA? (American banks were uncompetitive compared to Japanese mega-banks). Have we not learned anything from this crisis?
June 16th, 2010 at 12:07 pm
“Is Cramer actually making sense?”
No.
His entire argument rests on the assertion that Congress is “anti-business” and “anti-corporation” when everybody knows that Congress is corporate-owned and controlled. While there are some aspects of his argument that objectively make sense on their own (e.g., how the competitive landscape might change given significant reform legislation), the fact that they are tied to and rest upon such a faulty premise renders them moot.
To me, if there was ever any doubt, this just proves that Cramer is a mouthpiece for Wall Street, and what he is doing is shilling for the compromise bill that Wall Street (via its lackeys) is currently negotiating. When the final bill is in place, he will do a piece expressing his relief. Right now, Wall Street needs some grassroots support out there, and there’s no better way to get that than some good old fashioned Edward Bernays style propaganda that makes the little people fearful.
June 16th, 2010 at 12:18 pm
“Is Cramer actually making sense?”
Ditto – No. Does he have memory loss?
Britain and Germany are welcome to backstop this nonsense if that’s what they want.
If Wall street big banks can’t afford to spin off this business and capitalise it separately then it says nothing good about their balance sheets.
June 17th, 2010 at 7:00 am
If Cramer is correct, we should just keep the status quo, go back to the good old ways and have an economic crisis every few years. Look what it gets you, strong markets and a strong economy. Think of all the cash you will make after each collapse.
Cramer sells advertising without which, he has no job. If people don’t watch, he goes off the air. He goes off the air, then who am I going to sell/short stocks with if is lame ass followers who know nothing are all gone. Keep Jim going campaign, send $5 to cnbc. Jim for Senate
June 18th, 2010 at 6:38 pm
Congratulations Jim Cramer! You are now the Glenn Beck of CNBC.