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Jim Cramer Gets It

CNBC's Jim Cramer, the latest media figure to be chastized by the Obama Campaign Administration, has published a response to his recent brush-off by the White House. Although Cramer has been very critical of Obama during the last week or so, Cramer actually voted for Obama because he thought Obama was "a middle-of-the-road Democrat, exactly the kind I have supported all my adult life." He supported many of Obama's liberal agenda items like income tax increases and 'cap and trade.' But now, like so many who supported Obama during the campaign, Kramer is having second thoughts:

This is an agenda that must be held back for better times. It is an agenda that at this moment is radical vs. what is called for. I am proud to have voted for the Obama who I thought understood the need to get us on the right path, and create jobs and wealth before taxing it and making moves that hurt job creation -- certainly ones that will outweigh the meager number of jobs he's creating.

Most important, I believe his agenda is crushing nest eggs around the nation in loud ways, like the decline in the averages, and in soft but dangerous ways, like in the annuities that can't be paid and the insurance benefits that will be challenging to deliver on.

So I will fight the fight against that agenda. I will stand up for what I believe and for what I have always believed: Every person has a right to be rich in this country and I want to help them get there. And when they get there, if times are good, we can have them give back or pay higher taxes. Until they get there, I don't want them shackled or scared or paralyzed. That's what I see now.

Cramer's message is simple: fix the economy first, then after it has stabilized start talking about a new social agenda. Instead, President Obama and the Democrats have chosen to implement their radical new nationalized social agenda first, with little more than pie-in-the-sky "hope" that, money-wise, everything will turn out okay in the long run.

Right now a lot of people are probably wondering whether the Obama Administration is purposefully tanking the economy in order to destroy accumulated personal wealth and thus pave the way for government dependency, which will be satiated by nationalization and eventually socialism. I've never been much of a conspiracy theorist myself, but the nearly deliberate way in which the Obama Administration has done virtually everything that a group of people would do if they were trying to wreck the economy has certainly given me pause to consider it.


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Comments (35)

Fixing a typo for you:... (Below threshold)
hyperbolist:

Fixing a typo for you:

Cramer's message is simple: Buy Bear Stearns! BUY! BUY!!!!

If you want to pay attention to this asshole, that's your prerogative. You wouldn't be the first person he's bankrupted with his bankrupt financial advice.

If I didn't know better (or... (Below threshold)

If I didn't know better (or know enough to know I'm not supposed to say such things), I'd say he wants Obama's policies to fail.

Guess Rush is also the head of the moderate Democrats, eh?

I don't think Michael watch... (Below threshold)

I don't think Michael watched the video I put up today.

So...hes all for knee-cappi... (Below threshold)
brainy435:

So...hes all for knee-capping the economy with failed socialist policies, but not until after we fix it first?

brainy: exactly. like the ... (Below threshold)

brainy: exactly. like the gipper said, to these people when it stops moving you're supposed to subsidize it, you tax it when it's moving. Great Leader is taxing it when it's stopped moving.

Its so much more sporting t... (Below threshold)
epador:

Its so much more sporting to have a real victim to hunt down rather than a crippled and limping one, eh?

For Cramer to come out and ... (Below threshold)
TOhio:

For Cramer to come out and say that he is against what Obama is doing is a big deal, because Cramer was a big Obama supporter and has a large tv audience. If Cramer is saying it openly, you can bet that he has been hearing a lot of people privately sharing the same sentiments.

Obama fooled Cramer, Buffet and millions more. I'm happy that they're all waking up because the sooner more people realize it, the sooner something can be done to stop Obama's radical moves.

Either Obama is a complete idiot and doesn't know what he's doing or Obama is doing this all on purpose. Either way, it's bad.

For Cramer to come out a... (Below threshold)
hyperbolist:

For Cramer to come out and say that he is against what Obama is doing is a big deal...

No, it isn't. Jim Cramer is an idiot and a shill. How's Bear Stearns doing?

If someone had taken a million dollars and invested it as Jim Cramer has advised over the past year, they would be dirt poor--and they would f*cking hate Jim Cramer.

CNBC is so divorced from reality that they blur the line between financial news and TheOnion.com.

hyper - "If someone had... (Below threshold)
marc:

hyper - "If someone had taken a million dollars and invested it as Jim Cramer has advised over the past year, they would be dirt poor--and they would f*cking hate Jim Cramer."

And the same can be said of a double digit list of companies and a like number of Wall Street "experts."

Do you have another pointless point?

By George, I think he's got... (Below threshold)
OLDPUPPYMAX:

By George, I think he's got it! BRAVO Mr. Laprarie. Husseins destruction for the purpose of a Marxist takeover is indeed deliberate. You are one of the few, unfortunately few, who is right on the beam.

It is quite obvious he is d... (Below threshold)

It is quite obvious he is doing this on purpose. It will allow him to change everything when it has been destroyed. He will be able to change Social Security, health care, welfare, taxation, defense, etc when the country is reeling, just like how FDR did. Problem is it will much worse after he is done.

http://franklinslocke.blogspot.com/

Hyper -When you ha... (Below threshold)
JLawson:

Hyper -

When you have an investment show on CNBC, then I'll think you're on a par with his knowledge.

Hell, I think he's an ass myself - but he knows the markets MUCH better than I do, and I'd trust his evaluation of their state.

And what he's seeing is a disaster. Should I immediately go contrarian, and think everything's so wonderful he's just blinded by the gold pouring from the skies?

"...a lot of people are pro... (Below threshold)

"...a lot of people are probably wondering whether the Obama Administration is purposefully tanking the economy...I've never been much of a conspiracy theorist myself..."

I can fully empathize with this sentiment. One wants to preserve one's credibility, but Obama's actions are making it very hard not to speculate. This is the "let no crisis go to waste" administration. Why wouldn't they want to create new crises?

http://www.rightklik.net/

My conservative brothers an... (Below threshold)
WildWillie:

My conservative brothers and sisters, Hyper and his ilk are in an untenable situation. They cannot defend Obama's actions, so they attack the messanger. As always. That is what they do. Defame, dismiss and demean. Sad really. Their hero is crashing and burning and it has only been two months. ww

JL: as usual, lately, I fin... (Below threshold)

JL: as usual, lately, I find myself agreeing with you pretty much completely...clearly the guy, while annoying as all get out, has some clue how markets work, at least normally, to get where he is (Billy Mays, anyone? He's even more annoying but he probably sleeps on piles of $100s). While I don't have to pay any attention to his guesstimates on what markets WILL do or what the government SHOULD do, that's entirely different from discounting his reading on what current policies are ALREADY doing. One is guessing, bordering on educated guessing depending on your abilities, the other is simply knowing your subject and correctly evaluating it. Big difference. Just because you can see that El Ninas tend to impact weather patterns and can judge what a current El Nina might do a given year, doesn't qualify you to tell us what the weather will be like in 50 or 100 years.

Willie,You forgot ... (Below threshold)
Kenny:

Willie,

You forgot distract. Look how often they try to change the subject when it hits too close to them.

As for intentionally tanking the economy, Yeah, It is easier to believe given Rahm's comments on not letting any crisis go to waste. Sad to believe that they would destroy so much in order to implement their socialist paradise.

Cramer is a moron who said ... (Below threshold)
Dave:

Cramer is a moron who said buy gold at 990. Then after it dropped to 900 he said you have to know the right time to buy it. I dont think anyone takes him serious anymore but if they do... Well thats their perogative. He is certainly the butt of many jokes in my office. That being said he isnt speaking about Bear Sterns. He isnt talking about Gold. He isnt saying buy DJIA at 12.5 or 11 or 9500 or 8000.

He is speaking about the Macro economy and its current state. He isnt dolling out financial advice at this point. He is speaking about the state of the economy which last time i checked, when the market is down, its the only economic indicator the liberal looks at and when its up its completely ignored.

Im more interested in the fact that here is a high profile Obama supporter who has buyers remorse. He isnt the only one, but he does have a show, is a high profile figure and is now more than happy to be on the guy's enemy list whom he voted for! Cramer is willing to be on the list because at this point he believes this is wrong. This also says more about the Obama administration than it does Jim Cramer. In the same vein of the Rush Limbaugh debate. It elevates Cramer to the level of someone important and it lowers the Office of the President to having to defend himself to a guy who is wrong all the time! This says far more about Obama than it does Cramer. Obama is scared. Really scared. He thought he had carte blanche to remake America how he saw fit. Its becoming clear to him that he will have resistance. People will fight for their beliefs and their country and what they think is right, no matter who they voted for.

Cramer underperformed the m... (Below threshold)
Brian:

Cramer underperformed the market 5% last year, and 10% the two years before that.

It's not really a surprise that the right perceives a record of failure as "he gets it".

<a href="http://www.opensec... (Below threshold)

These guys performed worse than Cramer. Their investors are paying people to take their investments.

Cramer looks pretty good compared to these Obama supporters.

Maybe, Brian - but it doesn... (Below threshold)
JLawson:

Maybe, Brian - but it doesn't take a genius to determine that when you smash a light bulb you aren't going to be getting much more light out of it.

Or to compare one that's been smashed with one that's whole and operating, and see the differences between the two.

Cramer can do that - visibly and loudly. (God, is the man loud! Sheesh!) AND he's not afraid of going on record as being against what's coming out of Washington.

Instapundit posted...

Instapundit » Blog Archive » RUSH MAKES OBAMA an offer he can't accept.

ANOTHER UPDATE: Reader C.J. Burch emails: "Obama is discovering that he has no power at all over people that do not give a damn what the media thinks. If other Republicans were less craven he would be in deep trouble, instead of just headed for deep trouble."
Cramer IS of the media. And if he, a former supporter, is thinking Obama's nuking the market, I don't think you've got the horsepower to discredit his opinions.

If pointing out that a fina... (Below threshold)
hyperbolist:

If pointing out that a financial analyst is consistently full of shit within the realm of financial analysis, then yes, I am merely attacking the messenger. Boo hoo.

The DJIA hasn't yet hit bottom because people still refuse to come to terms with the undeniable fact that this mess is not a problem of liquidity, but of solvency: a shitload of money just went up in smoke (trillions of dollars!), and no effort on the part of anybody is going to fix that. The Dow should plateau soon, and provided its recovery is not predicated on some other unsustainable house-of-cards economic trickery, it will resume a normal level of growth. When? I'm not sure, but to answer that question, I sure as hell won't be tuning in to CNBC.

As for "changing the subject", Kenny--sorry, I could have sworn that the subject of this thread was in fact Jim Cramer.

And JL, the fact that Cramer has a TV show does not mean he knows what he's talking about, otherwise you would be forced to accept as correct (or at least reasonable) everything that comes out of Keith Olbermann's mouth--and I will assume that you would not be willing to bite that bullet in the name of consistency.

<a href="http://www.anncoul... (Below threshold)

Speaking of Olberman, Coulter pulled his pants down today.

Hyper, I think the word for... (Below threshold)
WildWillie:

Hyper, I think the word for this stock market is bottom out, not plateau. And I will add a forth D to the liberals arsenal: Distract. Thanks. ww

In other news Obama was tal... (Below threshold)
retired military:

In other news Obama was talking on tv today and the DOW Tanked for another 280 points.

Strange how those 2 things seem to have together nowadays.

Cramer ain't quite awake ye... (Below threshold)
GarandFan:

Cramer ain't quite awake yet. If Obama get's his socialist policies in place, there well be no private wealth.

Except those deemed to be "of the elite".

I wouldn't give Cramer too ... (Below threshold)
Sean P:

I wouldn't give Cramer too much credit. I'd be willing to place a bet that, when the Republican nominee is selected, you will hear a chorous of recovering Obamacans like Kramer; et al who will say something to the effect of "why did the Republicans nominate such a right wing extremist? They should have nominated a middle of the road conservative like John McCain. I would vote for him."

Mark my words. You heard it hear first.

Obama said it all here:... (Below threshold)
Oyster:

Obama said it all here:

"If you look at the victories and failures of the civil rights movement and its litigation strategy in the court. I think where it succeeded was to invest formal rights in previously dispossessed peoples, so that now I would have the right to vote. I would now be able to sit at the lunch counter and order as long as I could pay for it I'd be okay. But, the Supreme Court never ventured into the issues of redistribution of wealth, and of more basic issues such as political and economic justice in the society. To that extent, as radical as I think people try to characterize the Warren Court, it wasn't that radical. It didn't break free from the essential constraints that were placed by the founding fathers in the Constitution, at least as its been interpreted and Warren Court interpreted in the same way, that generally the Constitution is a charter of negative liberties. Says what the states can't do to you. Says what the Federal government can't do to you, but it doesn't say what the Federal government or State government must do on your behalf, and that hasn't shifted and one of the, I think, the tragedies of the civil rights movement was because the civil rights movement became so court focused I think there was a tendency to lose track of the political and community organizing and activities on the ground that are able to put together the actual coalitions of powers through which you bring about redistributive change. In some ways we still suffer from that."

When in doubt, refer to this paragraph often.

HughS - Coulter pulled his ... (Below threshold)
Oyster:

HughS - Coulter pulled his pants down and his shorts up. Waaaay up. I actually started feeling sorry for the guy :)

"Cramer's message is sim... (Below threshold)
P. Bunyan:

"Cramer's message is simple: fix the economy first, then after it has stabilized start talking about a new social agenda."

Cramer ignorantly, accidentially admits the true about the modern American Democrat Party: Their "agenda" causes great harm to the ecomony.

Hyper -"And JL,... (Below threshold)
JLawson:

Hyper -

"And JL, the fact that Cramer has a TV show does not mean he knows what he's talking about, otherwise you would be forced to accept as correct (or at least reasonable) everything that comes out of Keith Olbermann's mouth--and I will assume that you would not be willing to bite that bullet in the name of consistency."

Financially, 2+2 always equals 4. (At least, for normal integer values of 2.) The market moves in somewhat predictable ways, Cramer has (it would seem) devoted his career to studying just why and how the markets work the way they do. That being said - there's a significant difference between having an economic show and observing an economic disaster and calling it a disaster, then naming what you think is the cause, and being a political pundit shilling for your particular side.

If a weatherman was saying a particular hurricane's course was caused by low and high pressure fronts moving into areas ajacent to the track of the hurricane, I'll see him as much more credible than some preacher saying it's God's Will because of all the (insert problematic group here) living where the hurricane's going to hit - even if said preacher DID have a TV show. I should see both of them as being equal authorities when it comes to determining how weather patterns work? I don't think so!

Politically, 2+2 equals blue mixed with an A-flat tone, with a tinge of garlic and 90 weight gear lube. Things aren't solid or constant. Political pundits are put up by other people of the same persuasion - that doesn't make them right or wrong, you can choose who you give credence to.

I don't listen to Rush, I don't watch Olberman. I watch the world and see how it works, or doesn't. I form my own opinions, based on what I've seen and experienced, and just because someone's got a TV show, I don't automatically respect their authority, nor am I obligated to.

Your mileage may vary.

Thanks, Falze - I'm just tr... (Below threshold)
JLawson:

Thanks, Falze - I'm just trying to call things as I see 'em, and say why. You do a pretty good job also!

I think what Hyper and Brian and such expect is that they can throw up so much noise that no signal gets through. It's not about finding out what's true, so much, it's to keep anyone from deciding that the truth isn't as they want it seen.

I expect such 'persuasion' to get worse in the months to come, actually.

I picture olberdouche readi... (Below threshold)
moseby:

I picture olberdouche reading Ann's article...tears in his eyes...sitting in his own piss with a big ol' snot bubble hangin out there defying gravity....

Found THIS over on Mother J... (Below threshold)
JLawson:

Found THIS over on Mother Jones -

White House Freak Out? | Mother Jones

Oh my, I thought. When the people in charge come to think of health care reform as the easy part of their job, the nation certainly is in deep trouble. But the conversation also highlighted the psychological burden being shouldered by Obama and his aides. They are striving mightily to stave off total economic collapse, and they have no idea if their policies will work. In their free and private moments, do they quietly (and justifiably) freak out? I had the impression that this fellow does. But thankfully, he and his colleagues have diversions--such as fixing the health care system.The comments are interesting too.

Investors understand what makes the economy work. Every time Obama announced a new plan, the stock market declined. The reason is business understands what helps or hinders business. Every one of Obama's economic ideas, including the massive borrowing/spending plan, lack of business incentives, and lack of any kind of mortage/housing soluiton were met with another large down-day on Wall Street.

And before some think that's a great idea, remember this... The government can only hand out what they take from you and me (or borrow from the Chinese). That's why it is so important to generate business income... Business, the only source of jobs and taxes.

There are proven economics tactics that will bring an economy back. Using government statistics, three times in the last 20 years the economy went into recession and people lost jobs. Each time the president and Congress did the same thing and each time the economy rebounded and went higher than before. Those three times were 1982, 1992, and 2002. Can you guess what each president did?

Why is it so difficult to do the right thing? What is stopping this president and Congress from following a proven path? What special interests are preventing us from moving forward?
Had a subscription to Mother Jones a few decades back - didn't find it all that interesting at the time. Might have to rethink that...

But it DOES point out a problem that the Obama administration is having - the focus is way too scattered to be effective. They're trying to fix everything right now, and there's pretty much no way in hell they can. As the commenter at Mother Jones points out, there's a way to get out of a recession.

But Obama's cut that route off. Now he's trying.... well, whatever he can think to try. The economy needs to stabilize - it won't manage that with Obama pulling it every which way to fix the crisis du jour. I think his best bet would be to go "Okay, we've made a lot of changes here - I'm not going to make any more for 6 months to let things settle out." - and then keep Congress from messing with things.

But that's not really likely, is it?

Damn blockquotes...<p... (Below threshold)
JLawson:

Damn blockquotes...

This should have been in blockquotes also.

"Oh my, I thought. When the people in charge come to think of health care reform as the easy part of their job, the nation certainly is in deep trouble. But the conversation also highlighted the psychological burden being shouldered by Obama and his aides. They are striving mightily to stave off total economic collapse, and they have no idea if their policies will work. In their free and private moments, do they quietly (and justifiably) freak out? I had the impression that this fellow does. But thankfully, he and his colleagues have diversions--such as fixing the health care system."

"Right now a lot of people ... (Below threshold)
iurockhead:

"Right now a lot of people are probably wondering whether the Obama Administration is purposefully tanking the economy in order to destroy accumulated personal wealth and thus pave the way for government dependency, which will be satiated by nationalization and eventually socialism."

Clearly, yes. It's called the Cloward-Piven Strategy. I've never been a conspiracy theorist either, but this is a perfect fit. See:

http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html




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