Posted on 09/14/2022 8:26:41 AM PDT by JV3MRC
Why did CNBC’s Jim Cramer think it was a good idea to sycophantically praise the Federal Reserve’s inflation-reduction measures the day before the release of an awful inflation report?
Cramer hoodwinked viewers during the Sept. 12 edition of Squawk on the Street: “I know we’re worried about the Fed, but before we worry about the Fed like [BGC Partners Inc. CEO Howard] Lutnick would have had in the previous segment, they may be winning! I mean, tomorrow, CPI, they may be winning! Why do we presume that it has to go up, up and up …when its entirely possible that the only thing really left is wage and food?”
He speculated further: “What if food goes down? What if the wages stall, meaning, just, we don’t get any more increases? Then, I think we put in the bottom on a lot of stocks! Too bullish? …. I don't think so!” The Bureau of Labor Statistics (BLS) 24 hours later released a report showing inflation came in worse than expected, which indicated that Cramer should have just kept his big mouth shut. The report contributed to the three major stock indexes tumbling for their worst drop since 2020.
But Cramer fawned over Fed Chairman Jerome Powell as some kind of hero: “He’s my man.”
(Excerpt) Read more at newsbusters.org ...
ROTFL. Jo Jo the Pedophile Clown makes another “expert” look like a moron with his lies about the economy.
Cramer is a buffoon, he should have been fired a long time ago.
This inflation is no joke. With numbers of large scale strikes threatening, higher prices are sure to become embedded into the economy; plus the Fed is not done if we are to believe them. As Fed moves typically take a year or more to percolate through the economy, we’re surely “committed” to heightened inflation through the end of JoJo’s term. And to think that suppliers will just ensemble drop their pants (prices) out of pure altruism is truly naive.
We’ve got minimum 3 years of steady inflation to go.
The Fed is pissing in the wind
Until the Biden EO’s are undone, fuel costs remain high and drive everything.
Monetary policy can’t fix Watermelon obstructionism
Selling our reserves to China may have slight eased up on world demand for a short, short time. .2 of 1%
The dems are singing ‘Happy Days Are Here Again’ and the sheep bleat in harmony.
The Inverse Jim Cramer Strategy apparently applies to inflation, too.
Cramer is an anti-pattern. If he says go long, you go short.
CNBC, MSNBC, CNN, and FOX, is where you tune in to make you hear, see, and experience everything that isn’t.
...says all one needs to know about Wall St. vs Main St.?
Cramer is a dedicated apologist for the democRATS.
Whatever Cramer say’s....I do the opposite.
Kramer should start a club with Krugman and called it, the “We never get it right” club.
The difference between Cramer and the Fed is that the Fed is driving the economy by looking in the rear-view mirror. All the inflation indices are lagging and do not reflect the current month conditions. This can lead to the Fed over-tightening when real inflation is already declining.
Cramer looks at production inventories, commodity prices, wage increases, and longer-term Treasury rates that are leading indicators of where inflation will be in the future, not where it was last month. You must skate to where the puck will be, not where it is.
True inflation is well over 10%. These numbers are being cooked.
Why do you say that?
Jim Cramer when he was a wall street broker admitted he manipulated stocks by either pumping or dumping using the news media contacts he had.
I have no doubt he still is doing this. He already is very rich. How he gets paid I do not know as he says he does not own the stocks he talks about. I suspect he gets ‘consulting’ fees.
Cocaine is a helluva drug.
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