Anyone Watching Cramer? He's talking Great Depression

[11th_VA]

20% Jobless

Dow 8,000 (now I know where to get back in)

[spokeshave]

"The hurry for this indicates to me a cover up of something is in full force. There is something fishy here."

Yeah...like a minimum of 20% of profits on sale of assets to ACORN.

[DoughtyOne]

I think television has a lot of upside potential, but the times it reaches that potential are few and far between. It is also has a lot of downside potential, and it seem to achieve that a lot more often.

[1COUNTER-MORTER-68]

Runnin’ Outta FingerZZ-N-ToZZ Here!,,,

Was it? :

$300B last week ?

Wanna` $700B This Week ?

How Much They Gunna` Wanna`

Next`a Week`a??!!??!...(the mob ain’t nothin’ on this bunch)

[DoughtyOne]

There’s a lot of pent up disgust at his bail-out plan right now. It’s not a good time to mention that you appreciate something about him, particularly even remotely connected to his plan.

Folks don’t generally confuse me with someone who has been a supporter of Bush, so I may get a bit of a pass when I say something decent about him.

Don’t let it get to you. Take care...

[1COUNTER-MORTER-68]

(spits on the ground),,,

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(drawin’ his saber and cockin’ his pistol),,,

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~~~~~~~~~~~~~~~~~~~NO BAIL OUT!!!~~~~~~~~~~~~~~,,,

(now has tired finger),,,;0)

[DoughtyOne]

Well, you’ve got a lot of company on that. I’ve been sitting back letting others slog that one out. I am still keeping all options on the table. That isn’t very popular around here. That’s okay. Thanks for the mention. Rest that finger. LOL

[1COUNTER-MORTER-68]

Hey,,,Baaad deal as I see it,,,

Big Mo’Muny grab,,,

“Skin-N-carve.”...;0)

[DoughtyOne]

I see some reasons to come to that conclusion. I have also come to the conclusion that some of the alternative ideas have some merit. The problem for me, is that I don’t see any real quick confidence builders out of the alternative plans. Over months and years, they are sound ideas. I want to see them implemented.

If we were solely talking about the United States and we simply had to bite the bullet over the next few years, I think those alternative ideas would probably be enough. The situation is such that we need to placate our foreign investors or they will discontinue investing in the United States. And they ARE NOT going to be as patient as we probably could.

I would favor some sort of reduced bailout with a number of the Republican counter proposals. I realize that is still going to be unpopular. My emphasis is on nations like China and others who will discontinue cooperating with us, if they see big losses. We cannot have that. If that were to happen, we would be talking about a real meltdown.

Any deal must bring the Democrats back under control. Their store front cronies need to be defunded, and they shouldn’t get a dime out of this. NO PORK! Period!

AKORN and other agencies long a Democrat staple, need to be looked at very hard over the next few years. They need to be disbanded. The days of allowing the Democrats to hand out goodies to the American public should be over. It should nevery have started to begin with.

[DoughtyOne]

BTW, let me add that there is something else I would like to see tackled.

The move to force lending institutions to make loans to the minority poor has been going on for a long time. In 1993-94 time frame, the Attorney General of the United States, Janet Reno threatened to prosectue the lending institutions if they didn’t make loans to the poor.

This and other public statements by the Democrats made it abundantly clear what they wanted. And when what they wanted came to pass, we wound up with massive bad paper. Now, instead of admitting their mistake, they blame greedy lenders. That needs to be aired publicly in a massive report that includes Bush, McCain and other leading Republicans telling Congress lending practices had to be altered or there would be problems. Clinton may have actually called for changes himself.

The American public should be brought up to speed on just what caused this mess. The idea it was bipartisan is a figment of the MSM’s and the Democrats minds IMO. The idea it was just greedy Wall Street fat cats and lenders really pisses me off. Scapegoating these people, isn’t going to change the reality. It may change perceptions unfairly, but the Justice Department and the Congress of the United States conspired to cause this very problem, and they shouldn’t be allowed to get away with it.

The public should know.

[1COUNTER-MORTER-68]

Great points all,,,China/etc. ,,,but,,,

I think this is all “Comin’ down with the brakes on”(JMHO)

Correction,some call it,,,

Seems to me it’s already started,,,

“Know When To Say When.” ,as they say,as to how much

“MO’MUNY!MO’MUNY!MO’MUNY! we will throw at this MESS,,,

After all,,,

Gotta learn how to drive nails without beatin’ on ya’

fAngers so much!!!...;0)

[Freedom_Is_Not_Free]

I don't have a Newsletter, but I moved all of my 401(k) investment money from S&P 500 Index funds to cash related investments in December 2006. That's more than a year and a half ago, but close enough, don't you think? I had people swearing the S&P would be at 1600 by the end of 2007, meanwhile I was telling them the S&P would be at 1350 or below. I don't remember where it landed, but I remember being very relieved at being in all cash, while my friends were all dollar-cost-averaging steadily downward. Here is your next tip: S&P 500 will not bottom above 960. I don't know when. I never know when. It's the old saying, "The market always does what it is supposed to do, just not when it is supposed to do it." S&P 500 will dive below support at 1078 and look for support at 960. At 960, I get half in and sniff around to see if it is going down to 770. A month ago, I would have said 770 was VERY unlikely. The way the liquidity crisis is shaping up, I think 770 is now a no-brainer. We are in for very rough times. I'll still get in at 770, as the risk matches my investment window and I will be at least even by the time I need the money, and likely much better off:

[Freedom_Is_Not_Free]

Funny to think we both got out of the market at just about the same level, but at a year apart. The S&P 500 was about 1450 when I got out in December 2006, peaked at 1575 and then hit about 1450 at the end of 2007. Just funny... Of course, I did get to earn 4% on my money all 2007, but still, you saved a great deal getting out when you did. Good move.

[Freedom_Is_Not_Free]

This is like the 2nd Amendment, where the dependent clause is not itself necessary.

I would just go with, “Cramer is a moron.”

People have posted video montages on youtube of all of Cramer’s bad advice. It is hilarious, since I never took any of it.

Cramer is listed in Merriam-Webster’s Dictionary as below...

Cramer

One entry found.

Main Entry: 2 Cramer

Function: verb

Date: 2006

transitive verb
1: to give bad advice
2: a Contrarian indicator (I Cramered Bear Stearns and made a killing)
3: to be reduced to financial ruin by taking ignorant economic advice from Jim Cramer (He would not have Cramered if he didn’t watch CNBS)

— Cra·mer·er noun

[durasell]

okay. that’s funny

[LS]

I think Cramer had Obama in mind when he said 8,000 DOW.

[LS]

Sigh. One of the entries in my new book, 48 Liberal Lies About American History: "The Great Depression was caused by Business Failures."

Corporate 'greed' didn't cause the Great Depression. Sam Insull went broke paying policeman and teacher salaries; A. P. Giannini loaned phenomenal amounts of money to rebuild San Francisco; virtually all the banks carried and carried farmers and homeowners long after they should have dumped them. Most of the "fat cats" on Wall Street poured their entire fortunes into the market trying to keep it up so it wouldn't collapse.

[LS]

There is weakness in banking, no doubt. But to compare this to the 1920s, when THOUSANDS of banks were failing every year is pretty ridiculous. In Arizona alone (a small state back then) hundreds of banks closed in the 1920s.

[Petronski]

He was right.