Crazy Cramer Cracks Up

Timothy Birdnow

Hyper-caffeinated mad money moron Jim Cramer has lost his last marble. It seems to have rolled away and down the street like the meatball in the children's song.

CNBC's Jim Cramer gushes over economy as 'strongest... I have ever seen': 'A marvel to behold'

From the article:

Cramer went on to defend Federal Reserves Chair Jerome Powell for raising interest rates to make sure "we have some but not too much inflation" and knocked "the media and money managers" for spinning a "fear-based narrative every time Powell talks."

"We’re still looking at rising costs associated with port delays, truck driver shortages, and, of course, COVID-related illnesses. The fact that we only have one kind of inflation, though, is tremendous news, and it will make Powell’s job easier and should space out the rate hikes so that they’re palatable, so that they don’t hurt our portfolio," Cramer told viewers.

 This makes Baghdad Bob look sober and rational.

Cramer apparently doesn't remember how the Roaring Twenties ended. And he apparently doesn't understand why the current times look so much like them - because both were caused by the same things.

The Federal Reserved had pumped up the money supply during the twenties. It was a period of easy inflation with the theory that it could go on forever. When the stock market finally crashed the end result was the worst depression in U.S. history.

The Fed has doubled the money supply since last year.

Cramer also thinks the high employment is somehow evidence of a strong economy. He's wrong; the economy was shut down and is only now reopening - it has NOT fully reopened. OF COURSE businesses are begging people to work - many people are still in laid-off mode and enjoying the bounty kindly provided by the Biden Administration's generous welfare package.

Goods and services are not in short supply because of demand, but because of a lack of them. That is a bad sign, not a good one.

He boasts of people spending cash and not credit. People spend cash when the are NOT confident their jobs will be there. It is a sign the public is worried about where we will be next year.

Here Cramer shows he's drunk the Kool-Aid:


That is code for "I'm with you in the Ruling Class!"

"Trust the Science" is a meaningless phrase employed these days to suggest Conservatives and those who disagree are superstitious witch-burners. But what does it mean? The Science in no way supports his statement. In fact the vaccine has proven amazingly ineffective and possibly quite dangerous.

But like SCIENCE DUDE!

Cramer has cracked his round little Humpty Dumpty noggin.

The fact is there are all kinds of very serious signs we could face economic disaster soon. The distribution problems are not minor glitches but are signs of a serious disruption of supply chains worldwide. The price of oil and gas have skyrocketed thanks to the Biden Administrration's insistence on fundamentally altering our economic model and imposing draconian climate change regulations. China's biggest corporation just defaulted. We have millions of illegal aliens who have come into the U.S. to take American jobs and services. And we have these huge spending bills which nobody intends to fund - more money from future taxpayers. Inflation is running rampant in no small part because of this.

BUt the economy is roaring - yessir!

I've encountered this idea a few times from liberals who are trying to alter reality.

And this goes back a long way. The media refused to report the good economy under Reagan for a long time. And when George H.W. Bush was president they single-handedly created a recession by hammering the idea a recession was coming. When investors finally lost confidence and a minor recession came about they got Bill Clinton and Al Gore into office "worst economy in history", "everything that should be down is up and everything that should be up is down". They refused to report the end of the recession too, waiting until after the election then giving credit to Bill Clinton.

The talked down the economy all eight years of Bush Jr.

They refused to report much bad news under Obama.

And they tried desperately to avoid reporting the roaring economy (perhaps the best in American history) under Trump.

So now they are simply ignoring reality again and reporting the best economy in history, even whil large numbers of people are not working (but aren't"out of work" since they arenn't actively looking for a job.)

So Cramer isn't just a dimwit- he's a liar.

Posted by: Timothy Birdnow at 12:10 PM | Comments (4) | Add Comment
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