July 10, 2009

Jim Cramer: The Boo-yah Marxist


Once in awhile something comes up which really blows my mind. Usually it is something that slips under the radar- on the outer edges of some well covered main event. One of these well covered events was the verbal slap-down by The Daily Show’s Jon Stewart of CNBC's Jim Cramer back in March 12, 2009. Jim Cramer, the host of 'Mad Money', is the loud-mouthed stock analyst who barks out his opinion to people calling into his fast-paced show. Personally, I could never get into the guy’s whole presentation. The last thing I need to see more of is a sweaty, bald headed freak screaming "Boo-yah!" and any serious investor, who buys individual stocks, is not going to rely on this guys advice. Mad Money is 'irrational exuberance' defined and symptomatic of the carnival atmosphere endemic in our financial markets.


That being said, if you followed this clown’s advice and got burned - It's really hard to feel sorry for you. Sound investing is about making unemotional decisions based on long boring research.

I recommend watching Jim Cramer's appearance on 'The Daily Show' here. It is a great example of the Left eating itself and it is hard to argue when Jon Stewart explains how he is at least a more honest ‘snake oil’ salesman than Cramer. When Stewart tells Cramer that investing is not a game -the crap really hits the fan.


Wait, did I say, “…a great example of the Left eating its self”?

Indeed, I did! If you think that a populist (Stewart) was standing up for the 'little guy' against a typical example of an evil capitalist (Cramer) would be dead wrong.

The truth is, Jim Cramer was not the target Stewart and others thought him to be. In one of those ‘under the radar’ things, we found out exactly who this big mouth stock picker really is.

Two months after Jon Stewart humiliated him in front of the world, Cramer appeared in the '10 Questions' feature in Time magazine (read/listen here). Question four asked if posterity would look back on the “financial innovations of the last several decades with regret". Do you know what this supposed arch-capitalist said? He said, "the only guy who really called this right was Karl Marx. Marx understood what would happen if you let the market run amok."


Flabbergasting! This is worse than any horrible stock call Cramer ever made! Karl Marx, who not only lived during a time when the markets, as we know them, either didn't exist or were barely developing, called 'this' right? Karl Marx, who lived during a time when the Hapsburg's and Romanov's ruled, called 'this' right?

Cramer completely drops sail for kook-land when he continues, "Of, course, it was done by right-wing Republicans. They brought our nations to our knees..."

RIGHT-WING REPUBLICANS?! Well, Jon Stewart thinks it was people like YOU, Jim Cramer - Which is kind of funny because normally Jon Stewart is saying stuff like that about Republicans. (Is your head spinning yet?)


The ’10 questions’ article gets even better. When asked about inflation in question five(as a result of the Obama deficit), Cramer defends Obamanomics and says, "...perhaps we learn from history and worry about inflation after we worry about taking a Great Depression off the table." Have you ever read a history book Jim? If you did, you would know that Hoover’s concern over inflation was not the cause of the depression (and this man was giving financial advice on CNBC)!

Another jewel of insanity was Cramer's response to a question six about whether or not young people will be afraid to enter the stock market. His reply is, 'Yeah...Unless we bring back the regulations that we had pre-Bush, unless we prosecute the bad actors..." You mean the bad actors like market-hating Marxists who made a living off of short selling, hedge funds, and stock picking? Hey, that’s Jim Cramer!

Who is this train wreck? We know now, from his own words, that Jim Cramer is not a capitalist - he just played one on TV. I am not sure he is really a Marxist - because that would require an ethos however misguided. What Jim Cramer is in reality, is a greedy worm who is just as likely to make money selling stock tips as he would be informing on a neighbor if he lived in the Soviet Union. He is an opportunist.


There was a calculated purpose on Cramer’s part for saying what he did in the Time article. He does, after all, work for a liberal news outlet and after his slamming on 'The Daily Show' he had to do some damage control. He has a career to think about. In order to please the 'powers that be' in the Drive-by Media, he used the article to 1) protect his network, 2) profess Marxism, 3) blame a right-wing conspiracy 4) support Obama and 5) blame Bush…Ah, the ‘Formula of Celebrity Redemption”. True, it is usually done with more finesse but “Boo-yah” Cramer wasn’t known for being subtle. All he has to do now is lay low, hope this whole "Stewart-thing" continues to blow over and his career should be safe.

Such is life in the media playground of the Left. You never know when it will turn on you to serve its own purpose. Jim Cramer appeared to be an arch-capitalist villain who left The Daily Show with his tail between his legs, but maybe he was always just a delusional Liberal or just delusional. Maybe when he saw how quick a big dog like Stewart could crush him, the Time article was a way to beg for his career back and declare his allegiance to the powerful Left. Who knows? One thing is certain - for God’s sake don’t get stock tips from a Marxist. What's next, a mediocre comedian becoming a senator? Oops, too late...


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