He Really Seems to Care. About What, I Have No Idea.
Apparently we’re up shit’s creek without a paddle.
There’s the housing slump.
Plus the Dow’s losing more points than a guy on a date with me using plastic utensils, slurping pig’s feet and professing undying love for Dick Cheney.
Check this out - Homeboy’s all f*cked up about it.
Jim Cramer CNBC Meltdown - Watch more free videos
"We have Armageddon."
And so you’ve been warned.
posted by kate @ 8:14 PM
4 comments
4 Comments:
BTW - Kate, I use that line (your title) in reality from time to time. Has to be my favorite quote from Back to School.
Cramer is no different from a Vegas bookie whining about how his team didn't cover the spread. The only difference being that the bookie adheres to a higher ethical standard.
Don't be fooled, he's got money but he's taking a bath right now and his rant is for his own self-interest as he prostitutes the woes of the working class homeowner.
He's a grifter who made money espousing the long term security of the market and now the miscalculations of his neophyte observations are coming home to roost. True, the market loss through high-risk speculation in and by the loan industry will hurt investors, but the people who took direction from the likes of Cramer in order to turn a quick profit on the backs of middle America have only themselves to blame.
So now what does he propose? Cramer, who for years has railed against government oversight and regulations to guard against such "Armageddons" now wants the government to step in and save his and his cronies' butts. He demands that the rates be lowered so that more of the middle class can take the bait and gain access to loans that they would be ill-advised to take. The actual goal is so that the credit houses can get another IV into joe average. The same credit houses whose laissez faire business practices got themselves and the homeowners into this mess in the first place. It was their greed that encouraged mortgage brokers to craft balloon payment contracts that were destined for failure
When times are good for folks like Cramer, he has little support for government programs to help the underclass who face their own armageddon on a daily basis. However, the crises of the underclass don't include having to downsize from a Lexus to an Accord.
Out of a sense of genuine compassion that Cramer and his ilk don't possess, the taxpayers are already going to have to bail out those who are in default or near-default. Whatever strategies are used to help take care of the homeowners, the first priority is to keep those bottom feeding "misery profiteers" far away from whatever relief is given.
In the end, calling your local "gaming consultant" to place a C-note on the Chargers and the Giants tomorrow is a more dependable investment than seeking long term wagering advice in the market from Cramer, et. al. In the very least, you'd be dealing with a more reputable class of individual.
Adam's Professor
unrelated - but, which prez candidate has the hottest wife, do you think? i mean if we're going to have to look at them for 4-8 years might as well be someone hot. (discounting hillary's ascendence to white house).
from what i can make out - looks like mccain's wife - although big fred's is hot too.
does anyone have bios on those 2 potential first ladies?
Oh right - cause Laura is so smokin' hot and all.
Move to France if you want a brainless beauty hanging off the arm of the man in charge.
Or here's an idea - marry one yourself. Or can't you handle that?
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