Posted on 02/01/2010 12:45:40 PM PST by Comrade Brother Abu Bubba
CRAMER: OBAMA FORCING US INVESTORS OVERSEAS
CNBC commentator Jim Cramer says President Obama is picking a fight with the stock market and that investors should turn overseas as a result.
“We have a president who is kind of turning on the stock market in a populist way,” Cramer said on the air.
“If you’re a populist, you think that the stock market is for rich people. I hear that kind of thing in his voice, and it makes me say, ‘Maybe I should now focus on foreign stocks.'”
Cramer recommends that investors lift foreign stock holdings to 25 percent of their portfolios, up from 20 percent normally.
“The U.S. is becoming unfriendly to business, that’s just a fact of life,” Cramer said.
“This country’s getting tougher and tougher to make money in.”
Investors have to look at everything through the prism of what will be the next target for the White House, Cramer says.
“Is oil next for Obama? Why not?” Cramer said.
“The companies make a lot of money. They use U.S. government lands.”
Bottom line: “The White House is back in that mode which thinks the stock market simply isn’t very important,” Cramer says.
Not everyone agrees with him.
Investment guru Laszlo Birinyi expects U.S. stocks to gain 10 percent or more this year amid growing investor confidence and increases in corporate takeovers and share buybacks.
“The surprise is going to be on the upside,” he told Bloomberg.
I believe so.
Cramer was dissed by Obama previously and this is just payback. Mark Levin also sided with Cramer. Cramer maybe a lunatic, lucky guesser in market economics but there were sometimes that he made sense. Cramer was one of the 1st libs who went against the bailouts.
I guess Cramer has stopped looking for that Brown stock market bounce.
It’s great when Cramer compares Obama to Lenin (as he is now on his show)
Cramer compares Obama to Lenin?
“Financial collapse is coming.”
A drunk must sometimes hit bottom before he admits he has a problem.
It would have bounced if Oabama hadn’t started bank bashing.
“Deepen, exacerbate existing problems, crises, differences, and if they don’t exist, create them or convincingly claim that they exist, and then deepen, exacerbate them...and profit [politically, ideologically and even financially] the most from them in any way you can, and, in the resulting chaos, blame our enemies for the whole thing.” — Vladimir Ilich Ulianov (Lenin)
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