Jim Cramer (CNBC, Today show) strikes back

[rbell]

Cramer's no arch-conservative, and he was brutal in his criticism of former President Bush's handling of the economy mess.

But boy, oh boy, does he ever let President Obama have it:

SOURCE

From the article:

President Obama's team, unlike Bush's team, demonstrates a thinness of skin that shocks me. When I somewhat obviously and empirically judged that the populist Obama dministration is exacerbating the crisis with its budget and policies, as evidenced by the incredible decline in the averages since his inauguration, I was met immediately with condescension and ridicule rather than constructive debate or even just benign dismissal. I said to myself, "What the heck? Are they really that blind to the Great Wealth Destruction they are causing with their decisions to demonize the bankers, raise taxes for the wealthy, advocate draconian cap-and-trade policies and upend the health care system? Do they really believe that only the rich own stocks? What do they think we have our retirement accounts in, CDs? Where did they think that the money saved for college went, our mattresses? Do they think the great middle class banks at the First National Bank of Sealy and only the wealthiest traffic in the Standard & Poor's 500?"

One more:

Neither the pork-laden stimulus plan nor the confusing mortgage proposal put forward by Obama will defeat either enemy {he's speaking of unemployment & house price depreciation}. When Obama trounces both unemployment and house-price depreciation, he will have the power to enact anything he wants. But all the initiatives he wants to rush, like tax hikes, changes in health care, tinkering with the mortgage deduction -- good grief, right now in the midst of the worst housing downturn ever -- and the tough cap-and-trade rules, will derail any chance we have of turning this economy around. Instead, they put the Second Great Depression smack on the nation's table.

A couple of thoughts:

• So, one of the foremost financial minds in the country (and who is not considered particularly conservative) calls the stimulus bill "pork-laden." Anyone wanna keep arguing to the contrary?
• Here's an example of someone who gets it. The policies Obama will put in place will discourage wealth, and will penalize the very actions that will help us escape from this mess (example: The utterly stupid idea of messing with the mortgage deduction during a housing crisis...among many other things.

 

[Mexdeaf]

It is too bad that people did not listen to those who tried to warn them that the Emperor had no clothes before the election. It's not a pretty picture, is it?

I wonder how much longer folks can milk the "But it's Bush's recession" excuse for the aftermath of BHO's terrible decisions.

 

[tinytim]

Well, I for one am not worrying about retirement anymore... because if I save it.. the Democrats will find a way of getting it eventually.. and if they don't... I will lose it anyway when this crazy stimulus plan fails...

So.. I am going to enjoy life today.. and trust God for tomorrow.

 

[LeBuick]

It is too bad that people did not listen to those who tried to warn them that the Emperor had no clothes before the election. It's not a pretty picture, is it?

I wonder how much longer folks can milk the "But it's Bush's recession" excuse for the aftermath of BHO's terrible decisions.

You saying McCain would have been better? There wasn't much of a choice this last election.

 

[Palatka51]

Well, I for one am not worrying about retirement anymore... because if I save it.. the Democrats will find a way of getting it eventually.. and if they don't... I will lose it anyway when this crazy stimulus plan fails...

So.. I am going to enjoy life today.. and trust God for tomorrow.

The best advice I've seen in a long time. :thumbsup:

 

[rbell]

You saying McCain would have been better? There wasn't much of a choice this last election.

I wasn't a McCain fan...but I doubt he would have made the large number of monumentally illogical decisions that Obama has, economy-wise in the last few weeks...

 

[Bro. Curtis]

McCain would have had a democrat congress. They would have been obstructionist towards his administration, blocking any attempts. Nothing would have been done, and that would have been better than what is happening now.

 

[LeBuick]

I wasn't a McCain fan...but I doubt he would have made the large number of monumentally illogical decisions that Obama has, economy-wise in the last few weeks...

You got me there, McCain would have suspended his presidency and put together a summit of some sort. In the mean time people are hurting and need help.

 

[Mexdeaf]

McCain would have had a democrat congress. They would have been obstructionist towards his administration, blocking any attempts. Nothing would have been done, and that would have been better than what is happening now.

Ain't that the truth!!

 

[Mexdeaf]

You got me there, McCain would have suspended his presidency and put together a summit of some sort. In the mean time people are hurting and need help.

"Government" and "Help" are mutually exclusive in most cases.

 

[rbell]

You got me there, McCain would have suspended his presidency and put together a summit of some sort. In the mean time people are hurting and need help.

This will come as a shock to you...but doing nothing isn't as bad as doing the wrong thing.

Not that Obama ever does anything wrong...

 

[Pastor Larry]

In the mean time people are hurting and need help.

And Obama is doing nothing about it.

 

[rbell]

In the mean time people are hurting and need help.

And the church should step up in a big way. When the church is fulfilling its duty, it is vastly better than government's "help."

Two caveats: One...I'll be the first to admit that many churches aren't doing what they should be here.

Two...and this one is beyond the grasp of the government...not everyone should be helped. Able-bodied men that refuse to work shouldn't be helped. Their kids? Fine. But not the men.

 

[TomVols]

You got me there, McCain would have suspended his presidency and put together a summit of some sort. In the mean time people are hurting and need help.

And they still aren't getting it, thanks to the failed policies of Georack Bushama

No question we didn't have much of a choice last election. Either a third Bush term, or McCain. I did not want the former, but we got it anyway.

 

[LeBuick]

And the church should step up in a big way. When the church is fulfilling its duty, it is vastly better than government's "help."

Ok, this is probably a first but I must say I agree RBell... Except I would add there is no reason Church and Gov can't both contribute.

 

[LeBuick]

And they still aren't getting it, thanks to the failed policies of Georack Bushama

No question we didn't have much of a choice last election. Either a third Bush term, or McCain. I did not want the former, but we got it anyway.

Funny, McCain could have used you during the election...

However, I thought McCain was the continuation of Bush so I guess that means we got more Bush no matter who we voted for. Just a choice of flavors (chocolate or vanilla)... :laugh: