Wednesday, September 26, 2007

Cramer Gone Wild

James Cramer has a loud article, In Bernanke We Trust, in New York Magazine this week. He's a big fan of the rate cut and and thinks it will prevent a recession. He also rails against everyone from Greenspan to Bush, but is thankful Bernanke found his cojones.
    "I’m not surprised by President Bush’s sunny economic outlook—this president would praise the Weimar Republic’s hyperinflation as great for Home Depot and the wheelbarrow industry. But Hank Paulson? I expected better from the ex–Goldman Sachs chief. One of the few honest-to-Betsy revelations in The Age of Turbulence was Greenspan’s acknowledgment that the position of Treasury secretary, once a post for the best and brightest businesspeople and economists, has under Bush been reduced to nothing more than White House water boy for the “fundamentals are sound” mantra."


Ms. M&P said...

I'm not a big Cramer fan, so knowing that he's a Bernanke optimist makes me feel worse about the future of the economy. Did you see the articles that showed his investment recommendations did pretty significantly worse than the S&P 500? Forecasting does not seem to be his strong suit.

PiggyBankBlues said...

No, I didn't see that, but I'm not surprised. People like Warren Buffet and Peter Lynch aren't so loud and grating.