Guest Post by Martin Armstrong
This is a reminder of why I warn against listening to the talking heads. Unlike advanced AI software, these mouthpieces speak from a biased perspective. On March 11, 2008, Jim Cramer told his audience on CNBC’s “Mad Money” that “Bear Stearns was fine!” At the time, the stock was going for $62 before crashing down to $2 only five days later.
When a viewer wrote in to Cramer to ask about Bear Sterns experiencing a liquidity crisis, Cramer shouted: “NO, NO, NO! BEAR STEARNS IS FINE! DO NOT TAKE YOUR MONEY OUT! If there’s one takeaway, Bear Stearns is not in trouble.” He added, “I mean, if anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.”
Cramer later tried to claim he never said to buy the stock, but was simply discussing the banking sector. He was trying to prevent a panic, he claimed. In reality, this man has repeatedly made poor calls, yet still remains on air. His screaming tirades are interrupted by commercials and his show is nothing more than the QVC of stocks.
Cramer is an entertainer. Even if I were to go on TV and make forecasts solely from my own viewpoint, I would be doing a disservice to my audience. If you’re looking for true analysis, then there is only one tool that is unbiased and capable of tracking every market around the world.
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I figure all of the talking heads on the business shows regardless of channel are just Wall Street pimps.
The fact that we have been forced into the market with zero interest rates for so long says it all.
My parents who retired in the 1980’s had the safe option of high rates CD’s. Now nothing is safe, Gold/Silver dead in the water (suppose to rise with inflation) You lose on any money market/cd etc.
That just leaves the market.
That just leaves the market.
which is being manipulated by the Fed through Quantitative Easing. Gold and Silver are also being manipulated by the Central Banks. All of this is designed to devalue the currency and separate the masses from their money. Once they’ve destroyed individual wealth, governments will institute an electronic currency that will allow for greater control of those masses. It’s coming, and you’ll need a government mark to be able to transact business…
Gold and Silver are priced in the USD. Gold “is” and the currency price is more a reflection of the current value of that currency. For example, the USD today is at a very high level over 109. Were the USD to drop to 90 Gold would go up a couple of hundred “Dollars.” When there is a demand for Gold due to inflation or other fears there can be an increase based on the desire to acquire Gold, and it is the old supply and demand situation. As far as the day to day fluctuations in Gold and many other commodities is no more than the change in the price of the Dollar. Some say Gold should not be thought of in price per ounce but simply how many ounces you have since Gold is forever and fiats come and go.
Entertainer?? He is one shitty entertainer. He is a lying POS to boot.
Cramer the shill!
I have a friend who retired a few years ago she cannot stop spending money . Her financial advisor keeps telling her, her investments are fine , she has bought and sold three properties 4 cars and redecorates her house every month I think she’s insane lol.
Cramer is also a commie. What fool would listen to his advice on capitalism?
I go through FBN, CNBC, and Bloomberg most mornings. Cramer seems quite odd recently and I wonder if he’s losing his shit. He’s at or past retirement age and I wonder if he’s got early onset something or other.
Should have been hung from a lamp post back in ’08.
If I wasn’t able to short Bear Stearns down, I would have lost a lot more in that crash than I did.