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MSNBC Mad Money Man Jim Kramer: Get out of the stock market NOW!

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posted on Oct, 6 2008 @ 09:01 AM
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The Mad Money Man is telling everybody on the Today Show to get out of the stock market NOW:

today.msnbc.msn.com...

Jim Kramer says stock market will fall by 20% within the next days...






posted on Oct, 6 2008 @ 09:03 AM
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oh *snip*, selling stocks now...

GET OUT PEOPLE!!!



Mod Note: Profanity/Circumvention Of Censors – Please Review This Link.
Mod Note: One Line Post – Please Review This Link.

[edit on 6-10-2008 by 12m8keall2c]



posted on Oct, 6 2008 @ 09:04 AM
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DOW Jones blow 10,000 now.......

Jesus.



posted on Oct, 6 2008 @ 09:09 AM
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well i don't think he is helping by doing this, he may be the reason it drops even more!
thattaway to remain calm...



posted on Oct, 6 2008 @ 09:10 AM
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what he's saying is, if you need your money in the next 5 years, sell out what you need, regardless of the loss you might have as you might end up with less if you pull it out later than today.

truth is, anyone that needs the money they have invested in stocks should probably not be invested in stocks in the first place. if there's a chance you will need the cash, you should invest it in something a bit more sound, a bit less risky than stocks.



posted on Oct, 6 2008 @ 09:10 AM
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Yea this was going to happen anyways, Cramer is just warning people.

This has been building for a long time.



posted on Oct, 6 2008 @ 09:11 AM
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Freefall beckons its the beginning of the end



posted on Oct, 6 2008 @ 09:13 AM
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my dadda kept telling me to put my money in stocks...good thing i didn't listen! i bought some gold, the rest is in a safe in a safe place.
pissed off my dad and his attorney buddy



posted on Oct, 6 2008 @ 09:17 AM
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I hate Jim Cramer, but I agree with him. If you've got money in the market that you cannot afford to lose, you should get it out. That's not the place for money that you depend on, IMO.



posted on Oct, 6 2008 @ 09:22 AM
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reply to post by Benevolent Heretic
 


The following is my opinion as a member participating in this discussion.


unfortunately, he won't say this on his show. instead, he waits for the potential catastrophic situation, warns people about gambling and looks like a savior.

truth is, the stock market is like a casino and nobody should ever put down more than they can afford to walk away from. this holds true in every market condition as there's always the risk of losing your money.





As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



posted on Oct, 6 2008 @ 09:33 AM
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Originally posted by Fathom
my dadda kept telling me to put my money in stocks...good thing i didn't listen! i bought some gold, the rest is in a safe in a safe place.
pissed off my dad and his attorney buddy


Way to think for yourself!

I hope they see through to the wisdom of your choice and do the same, for their sake.

But it seems like there are many who are 'addicted' to the market - which in it's own way is addicted to credit. But we know that the religion of Credit in a profit based paradigm is pretty much eventually going to crash and burn. Too bad we don't have a free market.



posted on Oct, 6 2008 @ 09:34 AM
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To me this sounds like fearmongering. The people that want to buy usually tell people to sell...

If anything, for those that have disposable income, this is a time to get into the stock market, to buy up stock of strong companies that you think will have a place in the economy of tomorrow.

But if by chance he's right and the whole market blows up, well, good riddance to greed based capitalism, we can do better.

As for me the little stocks I own will stay where they are, I refuse to sell in a panic, and so should everyone else. That alone will stop the markets dead in their tracks and they will slowly recover.

I'm more worried about the value of currency that the stock market rollercoaster. Especially since Bush, Paulson, Bernanke and Cº have just added a few trillions more, thanks to fractional reserve banking, to the dollars already overliquid state, which will almost surely collapse the dollar based economy.



posted on Oct, 6 2008 @ 09:37 AM
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should U.S treasury's (One current option as a popular safe haven for $) ever show signs of default you may see the most money EVER rush into Gold/Silver

more than one "respected" economist can see the plan for a default on u.s treasury's being laid out soon- i wouldn't go that far but here's the link

titled "panic, consolidate, game over"

www.financialsense.com...



posted on Oct, 6 2008 @ 10:50 AM
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gold isnt doing too well.

2



posted on Oct, 6 2008 @ 11:20 AM
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i like the way you called him 'Kramer'.... as he is the clone of that whacky, nutty, psyco, ' Cosmo Kramer' character on the "Seinfeld" sit com...


i've read that bubble-vision, stock promoter Cramer, said that now one should be in gold...and or in mineral stocks.

Of course he blurted those tidbits in the middle of his ongoing voicerifious outbursts so nobody would actually hear the recommendation...
but that's his spiel, so he can later do a screen shot of that moment, and publicize it to no end.



A) the advice i've heard for awhile now was to already be out of personal holdings of stocks (your mutual fund/401k/IRA is not considered)

B) and to have a modest ammount of gold or silver coin for exchange

C) and recently, at the rumor of a one week Bank-Holiday, to have around $5,000 of currency in your home safe.

i've got my own ideas, but the above list the pop-culture is suggesting



posted on Oct, 6 2008 @ 11:24 AM
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Originally posted by St Udio


C) and recently, at the rumor of a one week Bank-Holiday, to have around $5,000 of currency in your home safe.


Can I put that on credit? I will have to sell $4,700 worth of stuff I already bought. See you on ebay.



posted on Oct, 6 2008 @ 11:48 AM
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reply to post by stikkinikki
 



i'm with you on that

just why would the average family need $5 grand in cash on hand,
or say within 10 minutes?

buy a late model car from someone thats cash strapped?
buy 4 First-Class seats on a flight to Ireland?


here's the thing... E-Bay will not escape a Bank-Holiday, because all credit cards, ATMs, All methods to exchange cash , send cash, buy or sell will be locked up for that 'week'...
i wonder if it will be a work week=5 days
or a calendar week=7 days ???



posted on Oct, 6 2008 @ 11:52 AM
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Originally posted by St Udio
just why would the average family need $5 grand in cash on hand,
or say within 10 minutes?


In case of blackout or some other nasty things happening.

I agree 5k is a bit too much, but some kind of serious cash is needed for easy access, IMHO.

My checking account was once compromised some years ago (stolen debit card), and the bank didn't act fast enough to stop the bleeding -- I got most of it back, but for two weeks I wished I had something to fall back on!



posted on Oct, 6 2008 @ 11:56 AM
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reply to post by Crakeur
 


Personally, I'm gonna take out shares in Toilet paper and Field Rations

Lets face it, people gonna be on field rations and still need to wipe their bum bum's in this New Depression.

I WIN!

[edit on 6-10-2008 by James Random]



posted on Oct, 6 2008 @ 12:52 PM
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I saw him this morning making the announcement live. He looked strange.

Normally, he's spun up; but today was different. He was tired and very withdrawn for his personality.

He got into some trouble over his out of control speech about the coming housing collapse more than several months ago (he called that one right BTW). You'd think he'd be be screaming about the stock market and the general economic conditions in the same manner. It was "here's the news" and I'm done talking. It was just odd.




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