Cramer Declares The Depression "over"

[Benny B]

On Thursday's episode of "Mad Money" host Jim Cramer declared that the depression is, well, over. No stranger to making bold statements about the stock market and the economy, ">Cramer delivered the news in his own inimitable style, unequivocally stating with gusto: "Right now, right here on this show -- I am pronouncing the Depression over."

And who does he credit for this turn around? As he wrote on bloggingstocks.com the same day, the credit lies with Obama.

    When [Obama] became more market-focused, and the Fed took rates to zero and offered financing -- leverage to buy asset-backs -- and took mortgage rates down to record lows while homes lost huge percentages of their value, the fire caught. Lending started again.


    And the depression ended. I think it ended in the first week of March. I think that's what Doug Kass saw when he went bullish. I think I saw it when I realized that even if every financial went under and most companies cancelled their dividends, we only had 1,000 points to drop, and you had to start buying. There just wasn't enough downside left.

    These are not disputed calls.

    Now the end of the depression has to be priced in.

[tu_holmes]

I watched this myself... I think it interesting that he made sure to mention that we were in a depression, not just a recession. We are now in a recession instead of a depression, but we are still slightly "better".

I think the next few months will be very interesting.

[Benny B]

I watched this myself... I think it interesting that he made sure to mention that we were in a depression, not just a recession. We are now in a recession instead of a depression, but we are still slightly "better".

I think the next few months will be very interesting.

What I believe will happen is what I predicted already, the market will go through fits and starts, but will continue its general trend upward. Positive signs in consumer spending and housing starts are already taking effect, and the stimulus has not even fully taken effect yet.

[240 is Back]

Cramer missed every other call for the last 2 years.

he's overdue to get one right!

[tu_holmes]

Well, let's also make sure to note that he's simply declaring this according to the factors that deem the economy a "depression".

He's not really calling anything, he's just telling us what the data represents.

Cramer has not done a lot right in the past 2 years and if he's basically telling us that the indicators of "depression" are no longer present, well, that's not really a big deal.

[Benny B]

Cramer missed every other call for the last 2 years.

he's overdue to get one right!

C'mon, that's not entirely true bro. However, when your job is to run your mouth daily on the markets primarily for entertainment value like Cramer, you are going to get some things wrong.

Financial analysts and economists are always getting shit wrong, because they are not Nostradamus and economics is not an exact science. Videotape is the worst enemy of these televised financial reporters. 

[SAMSON123]

I guess Cramer's JON STEWART interview has not taught him a damn thing.... He is clearly a puppet for Wall Street...someone higher up has told him to report only GOOD NEWS to keep people from rioting and panicking and to keep investing.

Like Jon Stewart said...I want someone to protect me from that guy on the screen (Jon then points to the screen where Jim Cramers is)

[Benny B]

I guess Cramer's JON STEWART interview has not taught him a damn thing.... He is clearly a puppet for Wall Street...someone higher up has told him to report only GOOD NEWS to keep people from rioting and panicking and to keep investing.

Like Jon Stewart said...I want someone to protect me from that guy on the screen (Jon then points to the screen where Jim Cramers is)

Honestly, Jon Stewart is CLUELESS. He should stick to what he knows...comedy. And he's not even very good at that. 

[SAMSON123]

Honestly, Jon Stewart is CLUELESS. He should stick to what he knows...comedy. And he's not even very good at that. 

Did you even watch the interview he did with Cramer???

Like Jon Stewart or not that interview exposed Cramer for what he is...A FRAUD AND A TOOL FOR WALL STREET

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

[Eyeball Chambers]

Weather it's over or not, couldn't his deceleration of the end cause his many thousands of viewers to invest again which intern will help the markets?

[Benny B]

Did you even watch the interview he did with Cramer???

Yes

Like Jon Stewart or not that interview exposed Cramer for what he is...A FRAUD AND A TOOL FOR WALL STREET

I don't hate Stewart. But no, I am not a big fan. Showing major news stories and then having the camera pan to him for one of his smart-alecky faces? Meh...I'd rather watch some real news with Brian Williams. Hard to believe as many young people watch John Stewart for their daily news as the numbers claim. Scary, actually. 

That interview showed Cramer as wimp with an inability to stand up for himself. It was like he determined beforehand he was going to be Stewart's whipping boy for the entire show. There are certainly elements of CNBC's programming that can be defended, the whole network certainly isn't complete garbage. Yet Stewart blasted the entire network relentlessly. Frankly, most of their daytime programming isn't for the average schmuck in a different industry looking for a way to put aside a few extra bucks for retirement.

Cramer should also have said, "Hey, John...newsflash. My show "Mad Money" is mostly entertainment, The bull sounds...the other gimmicks...its just to make a dry subject of finance more fun and easier to watch. But  John, m show also informs and educates many. If your little old lady mom is watching my show and making stock picks, she should fire her broker, and John you are a terrible son for letting her basically become day trader. She isn't the target audience and should be safe, conservative investments that she checks on once or twice per year."

Cramer's not a complete fraud, though he says a lot of dumb things. He's a Harvard MBA grad who ran a very successful hedge fund and is loaded. He actually started out as a journalist living out of his own car he was so broke, so he's come a long way. Since getting into financial journalism he as run his mouth too much, and I think his show is not good for the average investor...only the day traders. However, it does teach little tidbits about how to analyze companies and the importance of diversification that are important to neophytes and the large audience of college kids that like his show.

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533
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