Posted on 09/14/2022 8:26:41 AM PDT by JV3MRC
Why did CNBC’s Jim Cramer think it was a good idea to sycophantically praise the Federal Reserve’s inflation-reduction measures the day before the release of an awful inflation report?
Cramer hoodwinked viewers during the Sept. 12 edition of Squawk on the Street: “I know we’re worried about the Fed, but before we worry about the Fed like [BGC Partners Inc. CEO Howard] Lutnick would have had in the previous segment, they may be winning! I mean, tomorrow, CPI, they may be winning! Why do we presume that it has to go up, up and up …when its entirely possible that the only thing really left is wage and food?”
He speculated further: “What if food goes down? What if the wages stall, meaning, just, we don’t get any more increases? Then, I think we put in the bottom on a lot of stocks! Too bullish? …. I don't think so!” The Bureau of Labor Statistics (BLS) 24 hours later released a report showing inflation came in worse than expected, which indicated that Cramer should have just kept his big mouth shut. The report contributed to the three major stock indexes tumbling for their worst drop since 2020.
But Cramer fawned over Fed Chairman Jerome Powell as some kind of hero: “He’s my man.”
(Excerpt) Read more at newsbusters.org ...
Jim Cramer explaining the basics of stock market manipulation
https://www.youtube.com/watch?v=8DJlogbrDcA
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