Must See Jim Cramer Rant! (updated)
Posted on August 4th, 2007 by Kemp
For anyone who follows the economy and markets sincerely, you must check out the entire video below. Truly insane.
Amazing to watch someone openly call for currency debasement to bail out spoiled hedge fund managers. If you made bad bets, now is the time to pay for those, not the time for taxpayers to bail you out. Wake up!
Here is a quality article commenting on Cramer’s looney rant.
Also, check out M.A. Nystrom’s quality commentary on the subject.
Also, this article highlights the type of foolishness that took place during the credit boom, such as zero-money-down $1 million loans (WOW!). Very reasonably, these options are starting to go away for moderate credit individuals.
Filed under: Economics, Social Mood
I thought the idiot was going to cry. I have an interest in the currency retaining value because the domestic economy depends on it to a great extent, but I have hedged pretty well against a run on the dollar.
Bernanke is certainly caught between a rock and a hard place with the looks of the economy and the US$, but what else would you expect in a fiat money system? It’s an inevitable process we are following.
I think that Bernanke has tipped his hand as to the actions he will take when the U.S. tanks–We have this technology called a printing press.
He will destroy the currency. If he doesn’t, a new chairman will be appointed who will.
The question is, how big can the credit vacuum get? The key will be how much efficacy the public will assign to Bernanke and the ability and willingness to debase. Will they simply keystroke value for corporate and municipal bonds? If we get to that stage the game is over as we know it, so either way, this thing could get interesting pretty fast.
Watch as i take my rant to congress
http://cutrates.ytmnd.com/
[...] reserve, to expect government bail outs any time the markets see some form of moderate turmoil. Jim Cramer’s rant provides the most telling example of a spoiled leveraged investment class. When things are going up [...]