Jim Cramer, an over-the-top, entertaining, self-aggrandizing blowhard, but a good capitalist all the same...dared to recant his previously stated belief that a President Obama would be the lesser of two evils when it came to the economy...
THEN:
Oct '08: "And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. I’ll go a step further: Obama is a recession. McCain is a depression."
NOW:
Mar '09: "‘Hey, it’s amateur hour at our darkest moment.’ It’s the feeling of capitalism vanishing, businesses capsizing under their own weight - thanks to an administration that doesn’t seem to know or maybe doesn’t care." and "This is the most, greatest wealth destruction I've seen by a president."
The Administration called Cramer out and said, "If you turn on a certain program it's geared to a very small audience..."
Well, whether you like his bombastic style or not, Cramer's intended and actual 'audience' is the American investor class. By latest estimates, this demographic lies somewhere north of 100 million people. That's about 45% of the voting age population.
That's not a very small audience if you ask me....
I did like how Cramer turned a phrase from some old hippy songwriter to his cause...."We all want to change the world. I know I'd like to change the world, but when you talk about wealth destruction, don't you know that you can count me out?"
Groovy....
9 comments:
That "lyric" is a mash-up of Ten Years After's I'd Love to Change the World and the Beatle's Revolution.
From Obama's 3-27 2004 interview with Chicago Sun-Times we have this little gem...
OBAMA:....the most powerful political moments for me come when I feel like my actions are aligned with a certain truth. I can feel it. When I’m talking to a group and I’m saying something truthful, I can feel a power that comes out of those statements...
GG:What’s that power? Is it the holy spirit? God?
OBAMA:Well, I think it’s the power of the recognition of God...
But the agenda being hoisted is being promoted by the entire Democratic party, not just it's Spokesperson Who Channels God.
Everybody wants to change the world. Nobody wants to help Mom do the dishes.
45% of the voting public are investors, eh? Perhaps Obama has his eye on the 50% who don't pay any income tax.
With all respect to Cramer (and Brooks, and Buckley) what's shocking to me is that Cramer is surprised that an unrepentant far left big govt destroy the coal industry and energy industry with carbon taxes, demgagogic big spending liberal like Obama would be seen as anything but that by so called smart people.
The guy admitted before the administration that even if raising the taxes on dividends hurt the economy he'd still do it out of fairness, and admitted before the election that his cap and trade tax on energy industries would NECESSARILY drive up prices on industry and in fact potentially bankrupt some of them.
So the fact that Cramer is somehow surprised that "The One" turns out to be a statist anti capitalist is the surprise. Cramer may be able to read balance sheets, but he sure as hell can't read politicians basic intent.
Cramer, you voted for the guy. Now deal with the destruction of capital that you helped bring about and now lament. Jackass.
If Cramer is so insignificant, how did he rate an immediate response from the White House?
Obama and his people are incredibly thin-skinned. They lash back at every bit of criticism, regardless of its source. And this is with an incredibly complicit media behind him. This guy never would survive the daily onslaught Bush faced for eight years.
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