I have known Cramer for a number of years before his days on CNBC. He made his money front running IPO's during the Dot Com bubble. No genius in that! The rest of the bunch on CNBC are all bought into pitching the market which is the ultimate form of regulated theft on the planet. They all thought that Jack Welch was the greatest CEO of all time while he built the now practically defunct "Roll Up" that was GE. Ultimately it turned out to be an industrial company whose reported profits came from loaning money to high risk borrowers to buy mobile homes. We know how that story ended! Then along came Barack Obama and Elizabeth Warren as his Consumer Protection Czar. Now comes the rest of the story!
it's already happened. what we are waiting on is enough of the gop to care enough to do something about it.
During the boom which started under Obama, the Fed has managed to work in just a bit of cushion to use in the instance of a recession. He wants them to fritter that away. Remember he is the self-styled "King of Debt"...
they don't actually have to deliver on any of their bs. they just spew more bs.
When I saw his tweet today I thought about how effectively the system is designed to move wealth from the hands of those who work for a paycheck that has tax and SS withheld to the max. Trump and Congress then go and give corporations and the 1% a huge deficit bomb tax break, then appeal to the Fed to go to negative rates, which is destructive to the purchasing power of consumers by driving down the value of the Dollar and their long term wealth creation through their IRA's invested in treasuries. All of this to fund the deficit they created. It would be expected that this would negatively impact a high majority of Trump voters who are obviously blind to his blatant disregard for the economic well being of the middle class.
Don't forget while jawboning his own Fed Chair appointment to lower interest rates to zero or before. And he supposedly graduated from the "Wharton School of Economics"...Additional tax cuts while already running a trillion dollar yearly deficit is utterly ludicrous.
The stable genius who refused to share his college grades
