In an interview with Matt Lauer on NBC, CNBC Analyst Jim Cramer (who, I should point out, is not a Conservative) regarded Obama’s policies as an advancement of a “radical agenda” and pointed out that this was the “greatest wealth destruction by a President” that he’s seen.
Obama has shrugged off the steep decline in the stock market. He said, “What I am looking for is not the day-to-day gyrations of the stock market … but the long-term.” Apparently, he has missed the continued stock market slide (25% reduction since he was elected). He also stated, “The stock market is sort of like a tracking poll.” The Wall Street “poll” is speaking volumes on its opinion of the way the economy is heading. Given that the economy usually lags the market by 6 months, our economic future does look grim.
Perhaps we should move away from the agenda of restributing wealth, hiking taxes, and burying ourselves in even more debt. We need to do what is right for the economy. That includes business-friendly policies, lower taxes for all economic classes, and long-term job promotion. This new administration has had the opportunity to implement these types of policies, but instead has moved from one set of bad policies to another. In the end, it is the country that pays for this mistake.
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Posted under Economy
Written by admin on March 4, 2009
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I have shared this video and your post with many of my friends. I watch Cramer often and have for years. I was shocked (at first) to hear his choice of words… “radical” and “destruction” obviously stood out. He “is” not a right winger in any way, but rather moderate in his views. I agree completely with his assessment and with your commentary. However, when I start to hear such strong condemnation coming from the center, I grow even more leery of this whole new direction our government has taken. I predicted Obama’s administration would have a very negative impact on the economy, on our freedom and on our safety but I never imagined it would be this calamitous. The future is looking quite bleak and I don’t know how much longer Obama or some people in this country will continue to get away with blaming Bush and the prior administration for ALL the garbage we now have to deal with in this country. I can’t change the past for what is done is done. I can, however, impact the future. Unfortunately, some have set out to destroy the very things that have made us great. In the end, this whole mess saddens me greatly.
Finally some one with a brain on CNBC and NBC! Its sad that so many people have no idea what they voted for when they voted for Obama. Destruction of Wealth, that really hits the nail on the head. He’s well respected on those networks too. Wonder how long it’ll be before the pull a Goldberg on him?
Good job JC
One day we will wake up and the government will have stolen our entire country out from under us.
Thanks for the link back from your site. I’m not sure why the trackback didn’t pick up…
It’s frightful the way things are headed. Hopefully things like the tea parties will wake a few of the centrist members of Congress and they’ll do something to look out for our country’s interests!
This from the guy who told us Bear Stearns was FINE! LOL
Dude is obviously brilliant!
http://www.youtube.com/watch?v=_nkZ3eHeXlc
Way to take his statement out of context, Eric. These comments were made when people were worried about losing their money in failing banks. He was talking about investment accounts held by Stearns, not the stock. He was completely accurate in his assessment, down to his takeover prediction.
All of Congress is only worried about themselves. They have all long forgotten the value of a dollar. Let them live on our incomes for a while and see if it jogs their memory.
None of these people live in the real world that’s the problem here, they’re all out of touch.
Greatest wealth destruction by a …who? It should be called Greatest wealth destruction by a tv show host/ advisement investor. I bought so many of his suggestions in the last two years-including Powerwave, Lodgian, Sirius, XM, etc, etc, etc. only to watch my entire portfolio lose 85%in value. I used to really value this guys opinion, but now that I have lost all my money, his advice is about as questionable as his political stannce. Good luck to all you who still believe in Cramer.
The man did vote for Obama, so that does bite into his credibility a lot. It is a shame that Cramer didn’t figure out how bad Obama would be for business until after the election, but it’s better late than never.