Jim Cramer, on the Today Show Today:
MATT LAUER: Famously in October, Jim, you told people if you need this money in the next five years, get it out of the market. Then in November on the 24th, you said this to me on our show, you said ‘Matt, but confidence can be restored. A lot of what’s going on is gloom. Some of this is pessimism that’s unwarranted. Fast action by Obama could take that off the table.’ We had a stimulus package, we had a housing bailout, we’ve got efforts to save the banks. People would say that’s fast action. Why hasn’t it worked?
JIM CRAMER: We have an agenda in this country now that I would regard as being a radical agenda. I think we had a budget that came out that basically put a level of fear in this country that I have not seen ever in my life, and I think that that changed everything.
LAUER: So, the policies are not shareholder-friendly?
CRAMER: Shareholder-friendly? This is the greatest wealth destruction I’ve seen by a President…
And here’s the video:
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H/T: Club for Growth
If our leaders want to restore confidence, they need to tell us something that makes sense. We all know that we have over-leveraged ourselves. We all know that we have a crushing trade deficit. We all know that our assets have been over-valued. Borrowing more money and throwing it at the problem “du jour” is not a long-term plan.
Small business has always been the engine of our economy. During the President’s speech before Congress, the phrase “small business was mentioned one time. Our economy will not begin to recover until our government gets out of the way.
But Obama’s won the economic argument right?
Lemmings to the left please.
Nobody ever went broke underestimating the intelligence of the American public,
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