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Check out this Jim Cramer Rant today......it's a keeper and scary

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coyote Donating Member (900 posts) Send PM | Profile | Ignore Fri Aug-03-07 04:04 PM
Original message
Check out this Jim Cramer Rant today......it's a keeper and scary
this is a collectors item....

http://www.cnbc.com/id/20111570

Jim Cramer today angrily called on Federal Reserve Chairman Ben Bernanke to lower interest rates, saying he "has no idea how bad it is out there" in the nation's credit markets.
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 04:08 PM
Response to Original message
1. How nice to see that Bear Stearns is finally taking a hit.
I truly hate those bastards.
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Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 04:54 PM
Response to Reply #1
4. So, His Craemer's Friends Lose Their Jobs At Bear and He Goes Nuts?!?!
Millions of ITers, people in mfg, etc., when they get laid off, Craemer jumps for joy, saying that fat is being cut.
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 04:58 PM
Response to Reply #4
5. Bear Stearns is a criminal organization and has been for years.
I know WAAAAY too much about those people.
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Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 05:02 PM
Response to Reply #5
6. Even If They Weren't Criminal, They Should Be Getting Burned
This is what happens when you make risky investments. Sure, when the rates were low and the market was sluggish, sub prime mortgages looked great. Those high returns brought in a lot of money which were paid out in handsome bonuses. But what goes up, must come down. Rates went up and the sub primes took a mighty fall. I knew this was going to happen from the get-go, so why didn't Bear know this?

To come on TV and cry about your friends at Bear losing their jobs, is just ridiculous.
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aquart Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 04:49 PM
Response to Original message
2. But how can the fed lower interest rates with inflation everywhere
because of the outrageous price of oil?
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Yavin4 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 04:51 PM
Response to Reply #2
3. THANK YOU!!!
We'll be needing wheelbarrows to buy bread soon.
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hootinholler Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 05:29 PM
Response to Reply #2
7. What inflation? 2 point something?
Oh, yeah, that's right, they took out the energy and housing from the inflation numbers they look at.

-Hoot
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soothsayer Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 07:29 PM
Response to Reply #7
13. IT's at least 20% right now. Bernanke was told the stupid americans were
going to take a hit because of their borrowing too much, but he just sat there on his hands, they say.
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leaninglib Donating Member (268 posts) Send PM | Profile | Ignore Fri Aug-03-07 07:54 PM
Response to Reply #13
16. 20%...???
What country do you live in?
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SmokingJacket Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 07:33 PM
Response to Reply #7
14. Real inflation is extreme, indeed.
Gas has increased 100% in seven years, (was $1.50, now is $3, where I am), health care costs have increased even faster, my little house tripled in cost in ten years... etc etc...
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wishlist Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 05:36 PM
Response to Reply #2
8. Low interest rates encouraging too easy credit caused the problems
Hello- This is payback for granting all of those insanely risky huge adjustable mortgages not requiring downpayments to people who couldn't afford to repay them. Hopefully this foreclosure crisis wakes up lenders to the foolish risks of irresponsible lending.
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BeyondGeography Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 05:38 PM
Response to Original message
9. People should watch this; the sound of panic and hysteria in his voice is remarkable
even for Cramer; either he's completely mentally unbalanced or he has made some pretty dire conclusions about the credit markets.
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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 07:42 PM
Response to Reply #9
15. I vote lunatic.
After all, did he not brag about how he and his friends would psychologically manipulate the real-time markets with strategically-placed orders, thus getting the day-trading sheep to pile in, aping their moves? I wouldn't call such an admission the insights of a sober and measured individual.

Frankly, I figure him for about an 8-ball by 4:00pm every day.
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mudesi Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 05:54 PM
Response to Original message
10. Cramer is the Bill O'Reilly of the financial punditry world
He is entertainment, not sound investment advice. Don't listen to him, people.
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Connie_Corleone Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 06:07 PM
Response to Original message
11. I saw that live. He was way more animated than usual.
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stop the bleeding Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Aug-03-07 06:54 PM
Response to Original message
12. Wow that was interesting
I didn't think he could be exude more passion, but that one was a classic. You gotta love what money does to people.
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