‘Socialism’ Watch: Jim Cramer

So government “of, by and for the corporation” is Kramer's idea of the ideal state? I guess that ought to win him a few brownie points at GE HQ.

Apparently raising the top tax rate back up to 39.5 percent is the equivalent of the Russian Revolution. Somehow the Obama administration, not the collapse of earnings and the likely insolvency AIG, CITIBANK, and BOA. Nouriel Roubini and Barry Rithholz have both predicted last winter that the end of year rally was definitely a dead cat, based on over optimistic predictions that there would be an early snap back in the economy this summer. Now the likely extension of the recession into a depression with low economic activity until next year is having a logical affect on investors.

What a fascist. Woody Guthrie told me to kill fascists. My government used to kill them before they became fascists. Now we should kill all of them. Hitler would have been proud of the US Government.
REVOLUTION!!!!!!!!!!!

Pardon me? Government of, by, and for what? The corporation? Is THAT what he said at Gettysburg? What made me think it was governed of, by, and for THE PEOPLE?

And this Bolshevik schtick is simple getting old. Have the Democrats suggested that we abolish private property? Abolish capital? Destroy all currency? Get a grip, take a deep breath, and look at what communists and Bolsheviks -actually- wanted and you'll see next to zero policy overlap.

Ah yes

“our country is now run by a president and a Bolshevik-leaning Democratic Party that are unfavorable to stocks and the people who own them.”

As opposed to the Republican party, why I bet if those guys ever had a President and control of the Congress at the same time, the stock market would never go down the way it has now.

The “Republicans are good for those who own stocks” myth has about as much credence right now as the “fiscal conservatives” line.

Yet they keep acting as if what just happened didn't happen.

The Republican vision of an oligarchic state marriage with corporatism has been a dismal failure. Why do the believers cling to their false ideology? Why can't they be more like Michael Steele and say, “my bad”? We'll forgive them and welcome back to help the rest of us rebuild the USA into the nation it is meant to be. Why must they continue to drink the kool-aid?

A fool and his money are soon parted, especially when they listen to this Bozo.

To bad Americans can't get back all the money they have lost from following Jim KKKramers stock picks over the years!

KKKramer's a Crook!

Recall that a number of the people (though I don't think Cramer was one) who are screaming “SOCIALIST!” today are the very same ones who told us how the magic of the markets was going to help everybody retire richer, if we just privatized Social Security. Also that the market would take care of the health insurance problem through competition.

Sorry, but I think I'll give Obama a chance.

It's a sad state of affairs that our financial pundits and advisors cannot make measured criticism and analysis of an economic philosophy that is not entirely beholden to corporate interests without turning into Joseph McCarthy.

http://chaosoutoforder.wordpress.com/

Enough of these so called “experts” – where were these genuises when the warnings should have gone up? Whose pocket is Cramer in?

“We may congratulate ourselves that this cruel war is nearing its end.
It has cost a vast amount of treasure and blood. . . .
It has indeed been a trying hour for the Republic; but
I see in the near future a crisis approaching that unnerves me and causes
me to tremble for the safety of my country. As a result of the war,
corporations have been enthroned and an era of corruption in high places
will follow, and the money power of the country will endeavor to prolong
its reign by working upon the prejudices of the people until all wealth
is aggregated in a few hands and the Republic is destroyed.
I feel at this moment more anxiety for the safety
of my country than ever before, even in the midst of war.
God grant that my suspicions may prove groundless.” — Abraham Lincoln

I have found the charges of “Socialist” the height of idiocy since before the election, and while I acknowledging that in this case it's merely TV Stunt, it's still unnecessary and harmful to the discussion of our economy.

However, as an occasional viewer of Mad Money (among other business media) I have to contradict the zombie lie that Cramer recommended buying Bear Stearns; he didn't. He recommended not pulling money out of the bank, as in the brokerage accounts. This advice was solid, Bear was taken over by JP Morgan (with an assist from the Fed) and no depositor at Bear lost a dime. The episode recap is here: http://www.cnbc.com/id/23575614/

Furthermore, who is taking their political advice from a TV show about stock trading?… Just kidding, I know far too many people will, which is why the “socialist” comments are not good for business (pun intended).

Well, at least this is one Republican who admits he wants government of, by, and for the corporations.

This collateral descendant of Gen. George Gordon Meade doesn't think he fought for any “government of, by, and for the corporation,” nor did his men fight and die for any such thing.

Not to mention what does Cramer have against partnerships, or sole proprietorships? I thought small business was the lifeblood of our economy.

re ” It’s a sad state of affairs that our financial pundits and advisors cannot make measured criticism and analysis of an economic philosophy that is not entirely beholden to corporate interests without turning into Joseph McCarthy. ”

…….so very well stated. !!!!!!!!!!

I'm sure there are people who wish they had Cramer proofed their portfolio.

It is not accurate to say that Cramer told people to buy Bear Stearns before it collapsed. The caller asked if they should take their deposits out of Bear Stearns accounts. He was correct to say that they should not.

You should read the Daily Holwer – it makes a good case that when we behave like Conservatives and don't take our facts seriously, it benefits them.

As other have said not even the HuffPo says that Kramer said 'buy Bear Sterns' You're better than this Mr Weigel.

It should be noted that Kramer is a lifelong Democrat and supported Obama over every opponent at every stage of this last election cycle.

And part of his advice has always been that one should take into account governement actions (or inactions) similar as one should take into account other macroeconomic trends. Like everything else one can either get the timing or the magnitude (or the direction) of the effect wrong, but fundementally it's common sense advice.

Uh, the “Cramer recommends Bear Sterns right before collapse” story was debunked about 12 hours after it surfaced last year. Shame on you for treating your readers as idiots.

Kolohe is correct – Cramer is a life-long Democrat. His political support of Obama in '08 was only surpassed by his love of Hillary. Newsflash: the “majority party” contains a lot of capitalists who worry about things like no-change, out of control spending, unreformed, bottomless entitlement programs, and inevitable inflationary (a/k/a, tax on poor people) schemes to avoid paying back borrowed money.

Oh … and while you're on a clueless roll, Cramer's over-the-top invocation of Communism comes from his being an ex-Communist himself … or at least an actual student of the dialectical materialism persuasion.

The fact is, Pres. Obama (who I voted for) is doing a fairly poor job so far – perhaps, worry of a Gentlemen's “C”. If he's sleeping at night then he's not paying attention. He needs to go to whatever undisclosed location his tax-cheat Treasury Secretary is hiding and fire him pronto. (“Our plan is ….<drumroll.> …to develop a plan.” <Sis, boom, bah>)

Cramer was skillfully criticized in the Washington Post on Sunday for having been completely wrong in the past — just before the big slide got going — and not really owning up to it. The larger subject of the piece was how no money pundit could really claim to know what's going on these days.

A friend called and asked if I'd read it and said, “wait a day or two and Cramer will create a massive distraction”. So, on Monday he flew right into a tirade and a technicolor attack on Obama complete with multiple sound-effects and Beatles lyrics that he twisted to his purposes.

He's Santelli squared: an infantile and narcissistic ego and a sleazy showman bent on survival — nothing more — certainly not a prophet.

Surprising, when you realize that he most certainly didn't vote for the Republican candidate. Looks like the smart guys will own up to their foolhardy choice of the untried, unvetted, unknown senator who earned his wings in the corrupt Chicago political machine to run the most successful form of government in the world up today. Problem is, he is running it down, and Cramer has the courage to say so.

I understand that from the perspective of his intended audience gov't “of by and for the corporation” is a good thing. I guess what I'm confused about is why any of those folks would still be listening to him after the Bear Stearns thing… or who among the remainder he thinks he's going to appeal to talking like this. Him and CNBC in general are getting killed all over the media as out-of-touch elitists. This is going to help?

Anything that gets him off my TV is fine w/ me.

Ha! Two comments down I have my question answered by Laurence. Wasn't aware of the WaPo article… thanks.

Guess he's counting on stirring the pot up enough that everyone forgets.

You mean him trying to claim he was referring to deposits despite showing a stock chart labelled “BSC” while urging people Bear was fine?

You don't *really* believe that, do you?

I understand that from the perspective of his intended audience gov't “of by and for the corporation” is a good thing. I guess what I'm confused about is why any of those folks would still be listening to him after the Bear Stearns thing… or who among the remainder he thinks he's going to appeal to talking like this. Him and CNBC in general are getting killed all over the media as out-of-touch elitists. This is going to help?

Anything that gets him off my TV is fine w/ me.

Ha! Two comments down I have my question answered by Laurence. Wasn't aware of the WaPo article… thanks.

Guess he's counting on stirring the pot up enough that everyone forgets.

You mean him trying to claim he was referring to deposits despite showing a stock chart labelled “BSC” while urging people Bear was fine?

You don't *really* believe that, do you?

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