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| VIDEO: Jim Cramer of “Mad Money” |
“This federal reserve has been an academic exercise in torture for the American homeowner.” – Jim Cramer (on “Hardball”)
Talk about a correction. What’s that? Whenever the market drops drop of “at least 10%, but not more than 20% over a short period of time.” From down over 300 points it bounced back, but there is more to come. Jim Cramer is my favorite TV econ guy, the host of “Mad Money”. But today on “Hardball” he even out did himself.
Bonddad has more. I’ve been
talking about the economy with him on my radio show for quite some time. One
thing that always worried me is that the horrific hidden weaknesses of the Bush built economy would come
home to roost after Mr. Bush left office and the Democrats would get blamed for
George’s — say it one more time — incompetence. Just because the top 1% are
enjoying themselves doesn’t mean what’s happening is good for the rest of us.
As for a bailout, Chris Wallace made the point that some believe that if you make bad decisions you’re stuck with it. How very GOP. But as Charles Krauthammer said today on Fox, “A crashing economy trumps philosophy.” That’s for sure, especially Republican philosophy on the economy, which is front loaded for the rich and never considers the reality of the blue collar folks. Today Rush Limbaugh laughed at people who he said weren’t bright enough to hold on tight and ride it out. No doubt he was chewing on an expensive stogie at the time.
God help the squatters.
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