Jim Cramer Declares The Depression "Over"

Jim Cramer Declares The Depression "Over"

www.huffingtonpost.com

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.

(visit the link for the full news article)

[edit on 4-4-2009 by grover]

YEAH RIGHT...

Do we need anymore proof that the stock market and those who deal in it or focus on it have no connection to the real world Main street anymore?

Its not about the stock markets... its about our jobs and/or the lack of them...

...Has this idiot looked at the ever sinking unemployment rate recently?

www.huffingtonpost.com
(visit the link for the full news article)

[edit on 4-4-2009 by grover]

How soon they forget.
I think it's time for another visit with John Stewart.
What a tool...just doing his job, I'm sure.

All this means is that Cramer is taking Prozac, and is no longer depressed for getting called out by John Stewart for being a phony.

Cramer should be pulled off the air, and CNBC should loose their license to broadcast.

I really don't know where or how he can get off saying this...

while we all know this is a depression as opposed to a recession if the ever increasing unemployment rate is any indicator its getting deeper...

despite what they like to think of themselves the stock market is not the end all of all things economic...

indeed I maintain that it hasn't had any real connection to the actual economy for years now.

Is there anyone who has ever taken anything this guy has said seriously?

In what world is a nation whose deficits exceed their GDP not in serious trouble?

The level of debt in the United States today is higher than in the depression of the early 1930s. In 1929, the debt-to-GDP ratio was about 150%; by 1932, it had grown to 215%. In September 2008, the outstanding debt due on credit-default swaps - a Made-in-America product (and, it should be recalled, only one type of debt - was over 400% of GDP. In global terms, the value of debt in September 2008 was $160 trillion (three times global GDP), while the value of outstanding derivatives is an almost inconceivable $640 trillion (fourteen times the GDP of all countries in the world).Dollars and Sense

Cramer should hang his head in shame -- from a sturdy tree.

Manipulation by the Washington in crowd crooks.

"We put our money in to the market, so we can pull yours out." IMO

Right... Cramer is a tool...

That's because he's an idiot. I saw this a few days ago on TV. He's pandering to day traders and if he's doing his research then he's lying. If he's not, then he's an lying idiot.

Oh Cramer can go suck on his diminishing portfolio.
His advice is horrible!!
Should take his show off the air. I immediately mute him and concentrate on my computer when he comes on.

Originally posted by 4N6310
How soon they forget.
I think it's time for another visit with John Stewart.
What a tool...just doing his job, I'm sure.

Dang-- you beat me to this response! Cramer should have learned his lesson the first time.

Originally posted by TRUSTno0NE
Is there anyone who has ever taken anything this guy has said seriously?

Countless thousands of investors.

That's the problem.

Cramer is, as usual, equating the stock market with the economy. After all, he is a stock analyst and knows little about economic issues.

The stock market has fashioned a great rally in the last month but that is due to expectations of hyper-inflation and that is not good news. We could well have a sinking economy and a rising stock market for years.

Cramer knows better!

Any technical analyst will wait for a W to form in the stock chart for the DOW before declaring that.

Currently there is a potential that half the W the First V is formed. If it drops back then goes above the center of the W then it is over. Otherwise it could take another drop, or several.

Chart of the DOW at MSN