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....
