Jim Cramer - Why Obama Is Bad for Stocks

[TheWebHead]

I do not mean to be political. It's not like the Republicans are proposing breakthrough strategies to get things done and break the malaise. But I do hear it, especially from people who have come back from Asia, where the can-do attitude of the '80s and '90s or even the '40s and '50s reigns.

Malaise.

Yesterday's rank insubordination by a key general in, of all places, a Rolling Stone interview -- ???!!! -- crystallized the moment, didn't it (no pun intended). I only heard two things: one that it was right for Gen. McChrystal to be fired and two that McChrystal was right for what he said. Given that a plurality of my colleagues voted for President Obama, the conclusions were pretty grim for what one soul called a "failed presidency."

...His administration is proving to be the champion for those who don't own stocks and perhaps never will. Or, worse, he thinks that the average working person saves in CDs -- is he unaware of the 25-year campaign by all to have retirement savings and college tuitions paid for by now-tattered stock portfolios? I point all of this out because when I say this market is going nowhere, I think it is going nowhere because of Washington, not corporate America, not the public sector, not the private sector. The companies we have heard from this week are brimming with cash...

http://finance.yahoo.com/news/Cramer-Why-Obama-Is-Bad-for-tsmf-2364771359.html?x=0

[doc03]

1. The guy is nuts n/t

[Arkana]

2. Huh.,

The title of my next article is "Arkana: Why Jim Cramer Is A Useless Tool".

[LisaM]

3. Perhaps he should look at the concept of saving for college tuition with stocks

I mean, really. At some point, it just becomes a Ponzi scheme. IT'S NOT REAL MONEY.

[bluestateguy]

4. The Dow was at 6800 in March 2009

It is now at 10,100 and has flirted w/ 11,000 at times.

[Ruby the Liberal]

13. The DOW was at 10,000 in 1999.

ps - want to watch a leading indicator? Focus on the S&P 500. DJIA only tracks 30 blue chips.

[Dawson Leery]

15. True. Which asks the question,

why does the DJIA get so much attention?

[Botany]

5. please

[bemildred]

6. Could not find his own asshole with both hands and a road map. nt

[MidwestTransplant]

7. The Dow has gone from 7,943 to 10,149 since Obama took office.

An increase of 27%. Pretty solid return in year and a half.

[Dawson Leery]

8. A good deal of stock market growth since

the early 80's was due to cheap overseas labor and cheap debt.
Kramer is a self admitted whore for the market. He has his own fortune in the market.

And yes Jimmy, someone needs to be the champion for those who do not own stocks.
They are the lower 80% of society. The vast majority of society. They work and have the right to be respected.
If the traders on Wall Street and Hedge fund mob are screaming in agony, that is a good thing.
If the private equity firms are crying, that is good too (seeing that they buy up companies, cut them up, lay off workers to increase short term profits, then sell the company off).

[iamjoy]

9. No, Mr. Cramer

What's bad for stocks is people having no confidence in the market because of the epic failures of companies like Lehman Brothers and AIG. When people start seeing Wall Street as being no more secure than a casino, they aren't too keen to buy stocks. Heck, might as well go play blackjack or roulette because the croupiers and cocktail servers are usually attractive.

What's bad for stocks is people losing their jobs while a very rich handful amassed greater wealth betting on (manipulating?) this disaster. If people are out of work, have gone through their unemployment, and exhausted any liquid savings they may have been fortunate enough to have, they are going to start selling off their investments - be it in regular brokerage accounts or retirement accounts.

When people got suckered into a bad mortgage by greedy agents and brokers and now find their payment ballooning and hard to meet, they may sell off stocks to meet the obligation and keep their house. Or they may throw in the towel and walk away, representing a loss to the banks...

Good regulation is like exercise. No pain, no gain. It may hurt a little now, but it has a long term benefit. (speaking of which, i really need to get back to the gym)

[Ruby the Liberal]

14. Well stated.

[Enthusiast]

24. Right on! Like I tell the wife,

"You might as well talk to the dog as try to explain something like this to someone like Cramer."

At least the dog will listen and pretend to understand.

[safeinOhio]

10. If selling his own mother

was good for the market, he'd have her on Graigslist today.

[cadmium]

11. what does he really want? he

Was all over Bernancke because he waited too long to lower interest rates.

What's he really complaining about : more regulation, not enough regulation , Higher interest rates for his CD friends, lower rates for his stock friends

Does he have a particular trade war in mind?


does he want to preserve the Bush Tax cuts mostly?


What the hell is his point?

[Ruby the Liberal]

12. Cramer, 6 days before Bear Stearns folded - "Keep Bear! You would be a FOOL to sell Bear!"

Yawn.

Next?

[lifesbeautifulmagic]

16. "The companies we have heard from this week are brimming with cash..."

so it is true, corporations are subverting the economy and this presidency.

[Dawson Leery]

27. Sounds like it.

[opihimoimoi]

17. Jim Cramer can go fuck himself...Dump on my President? Fuck You Jim C...

[Bitwit1234]

18. Now and for ever I say the only people who

get rich off stocks are the crooks on wall street.

[The Wizard]

19. Some say

Jim Cramer is sniffing airplane glue.

[BootinUp]

20. I was very happy that Jon Stewart skewered this guy

he is a an immoral, lying, piece of shit.

[boomerbust]

21. Obama bad for stocks?

Obama came in saying He would not let the auto industry fail. At that time Ford stock was down to $1.01 a share. 52 week high $14.56 a share. Bad for stocks? You betcha Jimmy.

[marmar]

22. The fact that a discredited fraud like Cramer still gets a forum.....

..... speaks volumes about the media in this country.

[Enthusiast]

25. That should be a point of emphasis.

I'm listening to propagandized callers on C-Span's Washington Journal this morning. Some of them sound almost like a tape recording of Glenn Beck.

[Jello Biafra]

23. Someone should write Why Cramer is Bad for your Portfoliio...

wait a second...I just did....

[Bert]

26. Follow Cramer's advice and your a millionaire

Provided of course that you started out with 50 million in the stock market.

[jmowreader]

28. jmowreader: Why Jim Cramer is bad for America

Cramer's a churner.

There used to be two kinds of people in The Market: Investors (who practice buy-and-hold) and Traders (who buy low and sell high--not necessarily in that order; shorts are traders too). Thanks to guys like Cramer, we have a subset of traders I like to call Churners. These guys get into and out of positions quicker than I get into and out of socks. Consider flash trading, which Cramer probably likes. In a flash trading system, you buy order flow so you can trade ahead of it. The main problem with this is, it's not much different than front-running--which is illegal because it's insider trading. (The SEC could eliminate flash trading simply by declaring it front-running.)

[urgk]

29. That campaign to get retirement money into the stock market is the problem.

Brokers and shareholders made money encouraging a more risky approach to retirement. Had they kept money in CDs and government bonds, all those people who lost life savings in Enron, Maddoff and, probably, BP, would still have a nice chunk of money earning interest.

[chrstianmaldor]

30. Cramer is clueless. Both the economy and stock market have risen since Obama took office

Cramer is a clueless conservative corporate journalist.