Cramer: Bernanke has no idea how bad it is out there
I never watch CNBC and I hardly ever watch Jim Cramer unless it is on youtube, but I’ve been reading all over the stock market blog world about Jim Cramer going off on Friday. But I was like, yeah whatever - doesn’t he do that all the time? So I ignored it. Well I finally watched it and it is pretty intense - kind of scary - so here it is:
August 5th, 2007 at 8:30 am
He’s right on the money in my opinion but he has to realize that the Fed is screwed whatever it decides to do. Lower rates = even more inflation, higher rates = housing bust and recession.
August 5th, 2007 at 11:35 am
This almost captures the hilarity of Cramer MSFT recommendations in the summer of ‘06 here: http://www.stocktagger.com/2007/07/jim-cramer-microsoft-corporation-msft.html
August 5th, 2007 at 12:41 pm
WOW, that was pretty intense, That girl seemed terrified standing next to him, lol
August 5th, 2007 at 6:38 pm
For once, I agree with him (I can’t believe I said that!). But the Fed has more tools than just a rate cut.
August 5th, 2007 at 9:07 pm
Wow, Cramer was definitely going nuts. I agree with him, but I think he simplifies the matter far too much. He surely is a man who holds back no words, and Erin Burnett has to just sit back and listen.
August 6th, 2007 at 9:17 am
It sure feels like Cramer has capitulated on friday and we could very likely see a nice rebound in the stock market. He has to be very ashamed of his own reactions. I wonder how much of his reaction had to do with the selloff on friday. I am calling capitulation on this one.