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Showing posts with label Jim Cramer. Show all posts
Showing posts with label Jim Cramer. Show all posts
Thursday, April 2, 2009
Contrary Indicator?
Jim Cramer thinks our mini-depression is over (but not the recession). He sees us in a cyclical rather than secular downturn, due to the supposed positive impact of the Geithner plan.
Friday, March 13, 2009
Down Goes Cramer! Down Goes Cramer!
Here's the video of Jon Stewart completely eviscerating Jim Cramer last night. Cramer truly got crossfired. Hopefully reporters around the country took notes on what real journalism looks like. Glenn Greenwald hits all the right notes about the financial media's complicity in hyping the bubble mirroring the national media's obsequious "reporting" in the run-up to the Iraq War. Sadly, the proliferation of media has reduced the quality of journalism. Reporters worry so much about losing access to their sources that they never ask the tough questions. Landing the big interview, rather than breaking the big story, has become the measure of a journalist. And sadder still, a comedian has to show them how it should be done.
Thursday, March 12, 2009
They Say It Like It's a Bad Thing
According to the Wall Street Journal, "the exodus" out of finance is in full force. As politicians have tried to attach more strings to bailout packages to appease angry voters, and anemic (if that) earnings have drastically cut into Wall Street bonuses, more and more bankers are leaving the business. What a shock - investment bankers were only it for the money. But the Wall Street Journal says this as if it were bad. It is not. Just as there was massive misallocation of capital into bubbles over the last decade and a half, there has been massive misallocation of human capital into banking. If our best and brightest physicists and MBAs turn their attention to solving real problems rather than inventing new ways to pile leverage on top of itself, I think our society will manage to keep going. We might even prosper again, as opposed to merely creating an illusion of wealth. Indeed, the sooner we can turn our top minds towards developing green tech or making healthcare more efficient, and away from mastering market manipulation, as Jim Cramer explains below, the better we will be.
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