But to be fair, it’s hard to do his show day in and day out. His analysts have probably thrown him to the wolves at times. But ultimately it is his reputation to get it right…
]]>I don’t believe Cramer’s investing performance of 24% compounded over 13 years. Never see any reference to audited statements. And from what I’ve read Mr. Cramer, given that he IS a good investor (playing with mad money), some or a lot of his gains are also attributable to some sort of gaming the system
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Look, I wouldn’t pretend to know anything about the American economy.
Sure, they need to suck it up and clean up the mess they created and I’m looking at Wall Street banks and their fancy commercial papers and SIVs. However, who ultimately pays the price with the loss of their homes and jobs? Not the rich CEOs with the million dollar bonuses. It’s the common folk and immigrants who couldn’t otherwise afford housing (which led to the hyperinflation). Oh and the flippers too.
So you want the chicken or the egg?
What’s done is done and irresponsibility reigns. But if they don’t cut interest rates now, complete blood and massacre would occur.
It’s a lose/lose situation but they need to keep the economy going and bide for time.
At least that’s the way I’m reading it. Educate me and tell me I’m wrong 
What would happen if the Fed was a responsible central bank ?
– the $$$ would still be around 1,00 euro
– a starter house would still cost 100,000 in most parts of the country
– paying up with 20% house downpayment would be no problem for most people and there would be no need for garbage mortgages or going over 30% of income for housing expenses
– one could still get go out and eat for $20
– one could still get a fair hotel room $100
– gallon of gas would still be at $1.25
– most people would work, save and invest instead of spending a full day figuring out how not to get wiped out in chronic inflation or worrying how to cope with skyrocketing cost of living
– crime would be lower and so would fraud and corruption
– 2001-2004 would have been quite a deep recession, but the economy would be on the upswing right now, having cleared the excesses of the 90’s
What is so horrible about this picture above, that the Fed so desperately wanted to avoid it and in order to do that, created hyperinflation in housing, destroyed foundation of the economy, destroyed the currency, enslaved millions of people in debt, destroyed the middle class, slaughtered savers and retirees with negative interest rates and created massive distortions, corruption, lying and fraud in the economy
]]>Thanks for the picks. Mining and oil… why am I not surprised?
Regarding S. Korea, two words… Warren Buffett. He just did a tour of Asia and he still likes it. Also, the Economist did a good write up about emerging markets.
S. Korea just held its elections and I’m waiting for the dust to settle to see how the wind blows.
Kind of an intriguing if you can spare the change.
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