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View Full Version : Cramer cracks. Who gets bailed out? Wall Street or Main Street?



FRED
08-03-07, 10:52 PM
Our opinion isn't that the Fed is an inherently bad institution any more than is the European Central Bank, the Bank of Japan, the People's Bank of China, or any other central bank.

The principle here is that the concept of free and efficient markets needs apply evenly not selectively. If it's okay for a business such as US auto parts company that fail because it bet the wrong way on the US auto industry, financial companies that make losing market bets should also be allowed to fail. Even the Japanese, famous for using public funds to support corrupt banks that made uneconomic loans to favored bank clients, allowed their second largest financial firm to go under in the early 1990s after their credit bubble popped. The head of the Japanese Ministry of Finance put it well when asked why the firm was allowed to fail: "Easy come, easy go."


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Of course, the Fed will need to step in at some point. We don't want our collapsing credit bubble to go the way the Japanese bubble went, like this...


http://www.itulip.com/images/japanzero.jpg
(http://www.itulip.com/images/japanzero.jpg)

... followed by this...


http://www.itulip.com/images/japandeflation.jpg



On a personal note, we feel bad for Cramer. His people are not managing him appropriately. Perhaps they are aware that his mental health is suffering under the stress of being on the wrong side of the market and they are exploiting this for the entertainment value.

We'll update you with some of the more amusing comments we're getting on the video from other sites, such as this one from the UK:


The US Recession: ARMAGEDDON IT! (http://www.kuro5hin.org/story/2007/8/3/184517/7016)

LOL-worthy bit where argues with the host about the nature of "Armageddon".

Is this the same Cramer that was ramping up the market not six months ago?

Still, better late than never.

Man, I wish we had entertaining financial coverage like this, it is a huge gap in the British media. The BBC just have a succession of boring people who offer commentary, but never really any opinions or analysis (I suppose a public sector broadcaster has problems going there). The UK version of this is some guy saying "There are limited reasons for concern at the present time" and blinking a lot. The rest don't even bother.

Tet
08-04-07, 02:04 AM
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Holy Shit, I had no idea, I'm digging a steel re-enforced bunker in the backyard first thing tomorrow. I can't imagine how dangerous it's going to be with unemployed Wall Street hypsters on the loose. The widows and orphans need some protection, hopefully Bernieboy will lower rates just because he's really looking out for the little guy.

Tet
08-04-07, 02:14 AM
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I would like to take a moment and say that lower rates will do absolutely nothing to benefit me and my commercial property that has gone from $165/sq ft to $225/sq ft in the last two years, or my shitty and truly almost worthless tech stocks. This would not be for my own personal gain, but truly a lower overnight window would be something good for the children and future generations. I would think lower interest rates would almost guarantee Bernieboy instead Sainthood even though he's Jewish. Remember that Greenspam became a Knight and Bernieboy has an opportunity for a right hand seat with God. I would think a One Percent cut right out of the shoot would do it.

Mega
08-04-07, 05:55 AM
At which point the $ dives and you have hyper inflation. Crammer is just after one more throw of the dice!

If i were Ben i LIFT rates ;)
Mike

grapejelly
08-04-07, 09:42 AM
Will someone please open the #$#$#& discount window. We need the air!

trex
08-04-07, 10:53 AM
Looks like a man who placed big bets in the wrong direction.

zoog
08-04-07, 10:59 AM
http://img372.imageshack.us/img372/8387/itulipforumssnapshot2vn8.jpg (http://imageshack.us)

Now that is the best amazon.com link yet.


I'd never seen Cramer until these recent clips on iTulip. Is he always so... excitable? Why does anyone pay attention to a raving lunatic?

Does anyone here think his pleas will actually persuade the Fed to drop rates, if they aren't planning to already? For that matter, any speculation by the ShadowFed as to whether or not they will indeed lower rates soon?

FRED
08-04-07, 11:33 AM
We just received a note from a credible source that this video is the reason Bear Stearn's CFO made the announcement during the trading day yesterday.


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MLM
08-04-07, 12:47 PM
Great job Eric & co. The economy may be going to hell in a handbasket, but at least we can have some fun with it on the way. Nobody's going to be in the mood for funny videos during the cleanup phase (er, decade).

Sapiens
08-04-07, 01:11 PM
On a personal note, we feel bad for Cramer. His people are not managing him appropriately. Perhaps they are aware that his mental health is suffering under the stress of being on the wrong side of the market and they are exploiting this for the entertainment value.


Do not be misled; Cramer is just following the scrip. Cramer’s ostensible distress is being used to portray Wall Street as a victim and not a misfeasor of the present credit contraction, in other words, they are not taking blame.

Know this: the bag holders are the people that will lose their homes and those that monetized their real assets and placed the proceeds in equities. The banks will take back the real assets, re-price them and find new fools to repeat the game.

If you don’t understand what I mean, let me give you a simple clue:

Laboring class household expenses as percentage of income:

All Taxes: 54%
Shelter: 32%
Necessities: 14%

Disposable income and savings: 0%

-Sapiens

FRED
08-06-07, 11:55 AM
More comments...

<table width="100%"><tbody><tr><td class="lm">http://uselectionatlas.org/FORUM/IMG/post/xx.gif (http://uselectionatlas.org/FORUM/index.php?PHPSESSID=19a517f016ddc7300bbc77ca7cf1c9 a0&topic=60849.msg1258199#msg1258199)</td><td class="lm">"This is no time to be an academic!" (http://uselectionatlas.org/FORUM/index.php?PHPSESSID=19a517f016ddc7300bbc77ca7cf1c9 a0&topic=60849.msg1258199#msg1258199)
« on: August 05, 2007, 11:47:08 pm »</td> <td class="rb"> http://uselectionatlas.org/FORUM/IMG/english/ignore.gif (http://uselectionatlas.org/FORUM/index.php?PHPSESSID=19a517f016ddc7300bbc77ca7cf1c9 a0&action=ignore;u=2089;topic=60849)
</td> </tr></tbody></table> <hr class="hrcolor" size="1" width="100%"> Jim Cramer loses it...more than usual. http://uselectionatlas.org/FORUM/Smileys/classic/cheesy.gif

Apparently he's upset that Bernanke won't bail out his Wall Street buddies.

http://www.itulip.com/forums/showthread.php?t=1726

that dude is Sam Kineson minus the long hair and the sense of humor. MSNBC had him on a regular show alongside some Wall Street Journal type. That lasted about a month. Now he does this financial advice segment apparently for people with attention deficit disorder. On one of those channels in the high-60s, somewhere between BET and CMT. He has all these gadgets and sound effects buttons and bobbing head dolls lying about. I think he should get a talk radio show with Brian and Stewie when his next contract comes up. If he doesn't keel over from acute myocardial failure.

metalman
08-08-07, 12:38 AM
Holy Shit, I had no idea, I'm digging a steel re-enforced bunker in the backyard first thing tomorrow. I can't imagine how dangerous it's going to be with unemployed Wall Street hypsters on the loose. The widows and orphans need some protection, hopefully Bernieboy will lower rates just because he's really looking out for the little guy.

i just bought one of these... just in case. feeling safer now...

http://www.amazon.com/JL421-Badonkadonk-Land-Cruiser-Tank/dp/B00067F1CE/ref=pd_sbs_gf_2/102-0922254-5848108?ie=UTF8&qid=1186528547&sr=8-1

Tet
08-08-07, 12:42 AM
i just bought one of these... just in case. feeling safer now...

http://www.amazon.com/JL421-Badonkadonk-Land-Cruiser-Tank/dp/B00067F1CE/ref=pd_sbs_gf_2/102-0922254-5848108?ie=UTF8&qid=1186528547&sr=8-1

Hey, two left in stock, I liked this feature.

400 watt premium sound with PA system, plush interior, and external camera.

If the world is going to hell and a handbasket you might as well enjoy it with premium sound.

http://www.methodshop.com/gadgets/reviews/donk/top.jpg

http://ec1.images-amazon.com/images/I/51FBH0ARF2L._AA280_.jpg

JL421 Badonkadonk Land Cruiser/Tank

zoog
08-08-07, 12:56 AM
i just bought one of these... just in case. feeling safer now...
http://www.amazon.com/JL421-Badonkadonk-Land-Cruiser-Tank/dp/B00067F1CE/ref=pd_sbs_gf_2/102-0922254-5848108?ie=UTF8&qid=1186528547&sr=8-1

Are you the guy who also bought bananas, grapes, Wonder Bread, and stink bombs?:confused::p

metalman
08-08-07, 04:18 PM
Hey, two left in stock, I liked this feature.

400 watt premium sound with PA system, plush interior, and external camera.

If the world is going to hell and a handbasket you might as well enjoy it with premium sound.

http://www.methodshop.com/gadgets/reviews/donk/top.jpg

JL421 Badonkadonk Land Cruiser/Tank

the pa system is very useful. who needs a horn when you have a 400 watt pa system that lets you yell "get out of my way!" at top volume?

jimmygu3
08-09-07, 12:49 AM
Anybody catch Cramer on the Colbert Report on Wednesday? He's backpedaling like crazy, saying that he doesn't care about the rich guys losing their jobs, only the 7 million subprime borrowers who will lose their homes. Oh, he's such a great advocate for the little guy.

Coach
08-20-08, 11:22 AM
Isn't this the same Cramer who, on his own show, told the Retiree who owned a significant portion of Bear Sterns stock not to worry, that "Bear was in great shape?" How does this guy still have a job? How does he sleep at night? Lunesta and Nyquill?