Anyone Watching Cramer? He's talking Great Depression

[autumnraine]

Yeah, when I say that, I get folks giving me that statistically it isn’t even a recession. But I think it is just taking a while for it to catch up.

[o-n-money]

Buy Bear Stearns.

[misterrob]

The problem will only get worse if action isn’t taken. There simply has to be a floor established and it won’t happen if we have massive job losses that result in more foreclosures and more institutional failures. We need to have a floor, we need to know the crap is and it has to be disposed of. I like the idea of banks dumping the debt and having it be auctioned off even if the losses are steep. Maybe Uncle Sam makes a few $$ on the sale or at least minimizes the losses. Hell, if they are going to seize WAMU and find a buyer on the cheap then they can do it again and again until the mess is cleaned up.

[SteveAustin]

I don’t watch Cramer talk stocks because he’s a hype machine.

But again in this crisis, he’s been right on. He was the guy who back on August 16, 2007 was screaming at the Fed to do something about the subprime mortgage timebomb sitting with the banks. “They know nothing!”

He had the best idea today to help stop this mess. Better than the Paulson plan. Up the FDIC limit to $500,000 or even a few million. Make the banks just pay higher insurance premiums to cover it.

That would protect the public, limit panic and these stealth bank runs that are taking down these places.

If you think about it, the big problems the past 10-days come primarily from “bank runs” on deposits. Last week it was the money market funds. This week it was the WaMu and Wachovia deposit base. Stop these runs with backstop insurance and it gives us more time to solve the problems.

[rwh]

Cramer has a lot of friends on the street, of which many would benefit greatly $$$ from the bailout.

[o2bfree]

He’s shilling (lying). Sorry, but not all company valuations depend on what happens on wall street.

Oracle, Google, Apple, the oil companies, the pharma companies, many more are not going to lose 30% valuation because of a meltdown in the financial services industry. The financial services industry is only one of many industries in the US.

[CE2949BB]

Whatever he’s on, it ain’t caffeine.

[yefragetuwrabrumuy]

The nail in the coffin will be when the IRS no longer sees money rolling in. Projected tax revenues might lose double digits. Already, long term t-bills are questionable, whether uncle Sam can meet his obligations.

On the plus side, we won’t need a balanced budget amendment to have a balanced budget. Washington won’t have a choice. That should be some high adventure.

[AmericanMade1776]

When in danger , fear or doubt, run in circles and scream and shout... follow Cramer off the Cliff

[irishjuggler]

I remember when Cramer said the NASDQ was going to 5000! I believed him. my dumb a$$.

When did he say it? Because if he said it before March 2000, he was right. The NASDAQ did go to 5048... before it came crashing down.

[11th_VA]

Cramer has a lot of friends on the street, of which many would benefit greatly $$$ from the bailout.

I'm thinkin that too

[Notary Sojac]

Listening to Cramer, I can feel my brain cells dying, one by one.

But I gotta admit that when you take the 1994 Dow and straight line it out to 2008 using its postwar overall growth rate -

you get about 8500, just about where we would be without the crack cocaine asset bubbles of the last twelve years.

[sourcery]

Dow 8000 is what my technical analysis tells me.

[poinq]

I love Cramer and hate Shelby. Shelby is the guy who compromises with Frank. He sold our economy done the sewer.

[Moonman62]

I was just reading an article where someone notes that increases in charitable giving usually tracks increases in the stock market.

Americans give record $295B to charity

[exit82]

Kramer: the Howard Beale of finance.

[roostercogburn]

It is not just Wall Street greed. It is the greed of the average Joe. The Joe’s that do not pay their mortgage or credit card bills. The ones who allow foreclosure proceedings to begin on their homes then stay there for up to 6 months without paying a dime. I even know a guy who is renting his home in foreclosure and pocketing the money. I know some who have stripped almost everything of value out of the house a week before they lose possession. I mean cabinets, fixtures, carpet, water heaters, etc...
In my opinion, these folks are at least as bad as the Wall Street types.
Put it this way, America has survived the greed of Wall Street for many years. The greed and lack of responsibility by the common man is what in this instance though is what is bringing the country to its knees.

[XEHRpa]

> The wall street greed is a big paet of this, just as it was in the 1920s.

As well is the virtually unlimited leveraging.

[roostercogburn]

And these losers were allowed to qualify for homes due to the democrats in this country.