Jim Cramer on McCain's "lack of any knowledge whatsoever about economics"
After hearing about John McCain's ridiculous criticism of Social Security -- you know, the fact that it still functions the way it has for, oh, 75 years -- CNBC's Jim Cramer can't help but laugh at the "disorganized" John McCain and his complete lack of knowledge about all things economic.
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"I gotta tell you: McCain is the most disorganized, lack of any knowledge whatsoever about economics."
Cramer makes another salient point when he mentions that McCain is in favor of private accounts (well, he does depending on which day you ask him) and that millions of Americans would have lost their shirts if they had been investing their money during this economic climate.
"The fact of the matter is the whole banking system is falling apart. If you had money in the stock market...Republicans want you to invest it yourself...you would have lost a fortune. Is that what we really want? A bailout of another bailout or another bailout?"
The man's clueless, he shouldn't be running for local assemblyman for a retirement home much less the President of the United States.
What the bleep is wrong with the people in this country, vote for McCain? How about just chewing your leg off.
This speaks volumes considering Jim Cramer *hearts* the reich-wing.
Dodd saved the stock market, Kennedy saved Medicare, good week for heroes, not for the wingers. http://cabdrollery.blogspot.com/
Lest we forget, it was only a few months ago that Cramer touted the "solvency" of Bear Sterns.
But hey, a broken clock is right twice a day.
1. According to the base, Republicans don't need to know anything technical about economics. They use Faith-Based economics, which is good enough to get Grover's vote.
2. If elected, McCain should appoint Cramer as Treasury Secretary. His genius in telling everybody to LOAD UP THE TRUCK with Bear Stearns just before it imploded, and went from $200 to $2 in one day was pretty typical of a Republican Faith-Based economic strategy.
helenahandbasket @ 4:
Turns out he was right. By "solvent", he meant tax-payer give-away.
ummm...iits not exactly like jim kramer knows what he's talking about either...
http://www.youtube.com/watch?v=gUkbdjetlY8
Even a blind squirrel finds a nut every once in a while, right?
Cramer stumbles upon the most obvious description of McCain (although one could easily substitute a lot of things for "economics" - foreign policy, ethics reform, military strategy), but then he follows it up by blaming high food prices on Obama's support of ethanol subsidies.
Can we please blow this right-wing myth out of the water?
Has anyone noticed that gas costs 4.50$ a gallon and agriculture in this country is 90% controlled by 3 companies? The reason food costs so much is because we buy a gallon of gas with every 10 gallons of milk.
McGrampa and the Reich-wing claim Americans are "whiners" and the MSM applauds the "straight talk" Express. "Whiner" is ok and American, using "bitter" is elitist.
Dr. Hussein Matt @ 2:
Exactly.
I trust this guy as far as I can throw him. As for his advice: Laughable!!
Now seriously, it's quite unfair to say that McCain doesn't know anything about economics.
It's far more likely, in fact, that he knows the subject very well.
But there are two things in play here: being perceived as smarter than the average voter is no way to stuff ballot boxes, and, well, he's just plain evil.
Pretty friggin sad that the only person in the corporate media who's making this very basic point is "MAD MONEY" man Cramer!
helenahandbasket @ 4:
Damn! Beat me to it.
Good catch.
from the bullshxt express.....if obama had said this it wouldn't be joke but mccain gets a free ride like he has his entire life
http://www.youtube.com/watch?v=QVVIw7oZEyk
For once I have to agree with this idiot!
Boo-yah!
This is not a nation that values knowledge, it never has been.
Which is going to shoot us in the foot one day when prayers fail to stop the internal rotteness of the structure from collapsing all around.
Jim Cramer? What does Larry Kudlow think of the private accounts? Maybe Cramer can be the McEconimist now that Gramm is back in the closet.
I'd say the USS America is taking on water fast. Grab your lifeboat now.
www.anncoulterisevil.com @ 6:
I'm hoping that was the LAST example of Corporate Welfare and Public Risk/Private Profit we'll ever have to put up with, but maybe I'm dreaming. When is the public going to realize that Reagan and his followers who are still in power today are the biggest advocates of SOCIALISM the world has ever seen. SOCIALISM FOR THE RICH.
"Bear Stearns is fine... Bear Stearns is not in trouble. Don't be silly... don't move your money."
jim cramer
so... i think mccain's economic ideology is flawed to the core, and that he relies on some pretty slimey dudes as econ advisers, but heed cramer at your own peril.
(A)nd that millions of Americans would have lost their shirts if they had been investing their money during this economic climate.
Did Hillary lose her shirt?
I think this would be a good time to put up a clip of John Hodgman doing his impersonation of Cramer from The Daily Show. Remember that one? John Hodgman and his show 'Mentally Ill Money?' It's better than the real thing, I tell ya.
McMoron knows as much about the economy and wall street as a chimpanzee. He should be running for dog catcher back in boofoo Arizona and leave politics to the grown ups.
ysbaddaden @ 22:
Bill lost his shorts.
The Truth Hurts @ 19:
Lifeboats are reserved for those making $250,000/annum or higher.
The rest of us can simply hold onto the floating wreckage after the ship breaks up.
Jim Cramer still thinks gas cost $2 and comes from whales. I'd have thought he and McCain would have a lot in common.
The Truth Hurts @ 19:
Eh, we've got enough inertia from the sheer size of the economy that it'll take decades before we become aware of how bad the rot is. That mindset didn't serve Russia too well, but meh.
I think we make a mistake when we project that a good economist would recommend what will in the short and long run work out best for the largest number of people. With a very few exceptions they believe in a ruling class, a modest middle class but most importantly a powerless working class. A country is defined not by how the average person or the lowest person is doing, but how the big industrialist, big corporations, big business people are doing. In other words how the ruling class is doing. The investor class my pay some lip service to the country's poor but only as a false front.
I believe there should be an economic meltdown. The fat cats should lose everything. Unfortunity, they are going to take down all Americans in the process. How are we going to recover? Massive debt, no jobs being created(unless you are flipping burgers), no future for our kids. WTF! The next few months should be interesting.
McCain salutes the McCainstream Corporate Media (McSM) for broadcasting all his lies and smears and for not reporting his endless gaffes, his vile, unfunny "jokes" and his inability to answer questions about birth control.
Now Creamer/Screamer tells us why,you'd been wrong, the Dow tanked--10,000 + today
helenahandbasket @ 4:
He was pushing UBS as basically immune from the mortgage disaster, a week before they wrote off $9 billion, the first of several huge losses.
Samson- @ 21:
Cramer wasn't talking about Bear Stearns stock; he was talking about people who held money in accounts with Bear Stearns. He was correct in saying that these accounts would be preserved. He was also correct in saying that same week that the common stock was junk. The person who sent the original email inquiry which led to lots of people taking Cramer out of context would call the show a few weeks later, and state explicitly that he was not asking about Bear Stearns' stock. Here's a link:
http://www.cnbc.com/id/23962128/
Clear cut. Here's the original:
http://www.cnbc.com/id/23575614/
Here are instances of Cramer responding to criticism and clarifying in the interim:
http://www.cnbc.com/id/23691817
http://www.cnbc.com/id/23678693/site/14081545/
www.anncoulterisevil.com @ 6:
Actually he was responding to a person's concern about taking their money out of Bear Stearns immediately.
His response:
No No No NO!
The next day they tanked.
What did the shareholders get? Ten cents on the dollar?
That is water over the damn.
Let him have at McReptile.
Jim Cramer, Mr. Buy and Hold for Bear Stearns.
Next time I will pay attention to Cramer on TV is when the networks show live video of Cramer facedown in an alley wearing a toe tag.
Of course, the junkie asleep in his own urine 15 feet away will be none other than Larry "Mr. Blow, The King of Nose Candy" Kudlow.
Yes, losing your shirt in the markets is exactly what they want. The money you lose doesn't just disappear it goes into someone's pocket. Can't imagine who that would be.
The fact that McCain knows nothing about this failed economy, that he in fact helped screw up with his votes, is an example of why it is, republicans want to slide him into office. They know exactly what they are doing.
The less a republican running for office knows, the more attractive they are to their constituents.
It gives the rich right wing corporate thugs the very opportunity they want to control them and run this country even further into the toilet, then it currently is. We have witnessed this for the last eight years, and not just in the white house, but all over our government.
George W Bush is a very good example of how these cheap thugs operate. They realize better then we do that Bush, McCain and many of these Republicans are uninformed, dumb and ignorant by choice, which serves their purpose to a tee.
What they are not though is unaware that most Americans also do not understand that, which is in our faces everyday, so they spin their way through everything. Lying, Cheating and Stealing has become the norm, because they can get away with it. If you notice, education is one of the last things on the list for these fools want to focus their attention on, because the dumber we are, the more likely they can continue screwing us.
This right wing media is also no exception to the rule of this corporate gang of criminals. If you can stand to watch and listen to these people each day, it becomes very clear they are stashed all over our networks to serve a purpose and it is not good for this country as we all see. They talk and spin about any and everything they can to keep from discussing the important issues, we face, and they are sickened by the knowledge that Senator Obama, will become the next President.
I along with millions of other well thinking Americans are not fooled by this gang. We are all armed with our XM Radio's and listen to the alternative voices on the Internet, in Air America, Nova M and the Power Station are excellent choices and filled with alternative voices of people who are really doing a service to this country, by educating those of us that know something is wrong but just can't quite figure out what it is.
Unfortunately for us, we have some Congress members that would rather ignore this reality, then to do their dame jobs, which adds to our dilemma.
It has become very clear that we should not expect anything different to happen in this current Congress, yet we still have the hope, that with a new administration, we can make some big time changes and bring back accountability and over-site.
Vaporisation of imaginary money is accelerating. The Dow nearly fell through 11,000 today and at the current rate of decline may well break through 10,000 by the end of August, (my sense is it needs to hit around 7000 to shake out all the froth).
401k's are vaporising, portfolios are vaporising and pension funds will be vaporising. One interesting outcome may be a shrinkage of Looter Class clout as well as a substantial truncation of Corporate power.
Generally, you may find it is far more productive to study the real enemy, Corporate Oligarchy than it is to parse the increasingly deranged drivel seeping out of a dying MSM.
You see, your elected officials are essentially hostages. Obama is a hostage to fear of what might be, however unlikely, hence FISA. In the broader world, Al Queda may be on the decline, like some passing fad.
So while it may seem paradoxical to avid political junkies to enhance understanding of the broader framework in which politics happen, it is very useful. Think of Politicians as servant enablers of economic forces.
They can be wise facilitators and umpires or they can be feckless 2 dollar Whores but it is hard to tell if you don't spend as much time studying the monster as you do hovering over every ridiculous Focks spew point from Billious O Biley you will end up gloriously clueless about the powerful 'steering winds' that shape events.
Mark @ 34:
I was just thinking of his Bear Stearns advice.
The man should have his degree revoked.
Stop whining, people!
If the McCainstream media and the powers-that-be have their way, the vast majority of us will be screwed, left at the mercy of the wealthiest and most powerful, like the insignificant bugs we are.
I heard it!
Jim Cramer is questioning John McCain's venerable POW record!
McLame is clueless about the economy and the mortgage breakdown . I'm not hearing any great insights about what to do from the Obama camp. Just some boiler plate comments about affordable housing. The real catastrohe here is that we are misdirected by MSM into NOT discussing the crooks and liars on Wall Street whose never ending greed has just about bankrupted the nation. They walk and we get stuck with the bill. Cha ching cha ching......
I might be selfish about this but it is both houses in DC and the president that is at fault for the Social Security mess. They kept tapping SS to pay for other things and the people never got to vote on that. I am retiring in a 1 and a half when I am 62. I earned that money and I helped other generations before me. The republicans will have you thinking it will run out. I don't believe it. All they need to do is adjust it. I got new for the younger generation if you don't help then you will be taking care of your parents and grandparents and paying for their health care. So if I were you all I'd stop and think about that. Investing in the stock market isn't a good idea either. I have a friend who is ready to retire now but she has lost a lot of a 401k in the stock market. What now. Don't fall for that republican crap.
The Title and article published here are pretty dis-honest from my view, and I don't like either candidate. I'll probably write in Ron Paul. A more fair piece would have said "McCain and Obama are clueless according to "Jim Cramer". The segment is cut short, and Kramer goes on to slam Obama's economic policy as well. Essentially calling both candidates "clueless". Let's also remember, Jim Cramer is the guy who said "Buy!!! Buy!!! Buy!!! Bear Stearns", 6 days before it crashed. So please consider the source. Here's the Video >>> http://www.youtube.com/watch?v=gUkbdjetlY8
Cramer is lecturing others on economics? That's a little bit like Neil Cavuto giving a lecture on political science.
I don't need Jim Cramer to tell me that Republicans are incompetent. So is Jim Cramer.
Why, why, why? Why is Cramer still on TV? Why is Bush still president? Why is the Congress still giving him a reach around?
Comrade Rou @ 43:
Obama is keeping his mouth shut because he doesn't want anybody bringing up that illegal home loan he accepted.
“I gotta tell you: McCain is the most disorganized, lack of any knowledge whatsoever about economics.”
He's using W's playbook to the letter...without the charisma of being a "guy you would hava beer with."
jimbo92107 @ 47:
Truth!
alzuben @ 49:
Obama's loan isn't illegal. He got a good rate but nothing out of line for a guy who signed a book deal for $3m.
freaktown @ 7:
Oh that's good :)
Funny that this comes from a guy who's always a total wreck on his show... it doesn't matter if the market is going up or down.
...and oh yeah, like others mentioned, he told people to hold on to Bear-Stearns just days before the stock was practically worthless.
McKept doesn't need to know anything. His wife does the checkbook.
Zlad! @ 50:
I always found fascinating that people found a supposedly recovering alcoholic as being their ideal drinking partner.
No wonder night life sucks so much in this country....
I have to agree, but honestly it would be better if it didn't come from a guy who said Bear Stearns was solid as a rock the day before it went down in flames.
Among the fifty other annoying things that Tweety does, he always pronouces Social Security as a rushed "sosecurity." I think that may be as bad and uneducated-sounding as George Bush's pronounciation of "nukular."
StCyrlyMe2 @ 38:
Lot's of effort and right on! Well said.
Should have asked Cramer about Phil Gramm being one of the primary reasons that the whole banking system is falling apart.
April 3, 2008 - In this highly educational interview, Michael Greenberger, JD, Director of the Center for Health and Homeland Security (CHHS) at the University of Maryland and a professor at the School of Law, director of the Center for Health and Homeland Security, and a former director for trading and markets for the Commodity Trading Futures Commission (CFTC) discusses how Phil Gramm led repeal of Depression-era banking regulations.
http://www.npr.org/templates/story/story.php?storyId=89338743
McCain's Econ Brain Feb 19, 2008
Economic conservatives take heart: Phil Gramm is influencing the candidate's platform.
McCain pledges to balance the budget by 2012, not by increasing taxes, but by vetoing all pork barrel spending, and curbing outlays for Social Security and Medicare.
http://money.cnn.com/2008/02/18/news/newsmakers/tully_gramm.fortune/inde...
alzuben @ 49:
Go away dumb troll. Your lies don't work around here!
While he may right about McCain, Cramer is an idiot.
When Fair and Balanced Matters
Mark your calenders. For the first time, MSNBC displayed "fair and balanced" properties in their coverage. However, it took their favorite, John McSame, looking and being stupid to do so. Yes, "fair and balanced" suddenly mattered when they were talking about McSame.
The "fair and balanced" dynamic has got to be the most overlooked issue involving this years politics. There certainly was no such consideration involving Hillary Clinton, and now that Chris Matthews is finished with Barack Obama, Obama can throw any sense of true "fair and balanced" coverage from Matthews. It is starting to look like someone in the Democratic party got played like a modern day video game, and it was not McSame.
Joseph
Isn't this the pot calling the kettle black?
nonsense; he never told them to hold the stock. read my post #34 here. it's in plain sight.
Strange that I would agree with what they both said! Even though the didn't say much! We are in deep trouble!
Pericles @ 5:
HYSTERICAL and true!
helenahandbasket @ 4:
When I had that HARDBALL show on my wife came in the room and asked why I had that screaming idiot yelling at the top of his lungs on our television. Then she heard the McCain quote and came to exactly the same conclusion as Ms. Basket. It is, Ms., right?
Sad thing is Cramer did a better, more succinct analysis than Maddow or Olbermann ever have of McCain.
“The fact of the matter is the whole banking system is falling apart. If you had money in the stock market…Republicans want you to invest it yourself…you would have lost a fortune. Is that what we really want? A bailout of another bailout or another bailout?”
---------------
The banking system is falling apart due to the actions of the brightest people in the room.
When the rumor started that the discount window would be opened to Freddie and Fannie, the bond market tanked. Higher cost for debt. This is the problem with government bailouts.
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