Wednesday, March 4, 2009

Jim Cramer "The Greatest Wealth Destruction by a President"



Yesterday on the Today Show Jim Cramer called Obama's radical agenda, "The Greatest Wealth Destruction by a President." Jim Cramer is the Host of Mad Money and he cofounded thestreet.com.

I never much cared for Cramer's flamboyant style on Mad Money nor do I know what the success of his stock picks have been that he recommends on his show. I don't pay attention to the financial gurus on CNBC. I don't buy a stock unless I do my own due-diligence. That being said, after reading many of Cramer's pieces on bloggingstocks.com and Thestreet.com, I have come to the conclusion that Cramer is a smart man when it comes to things finance. For the life of me, I cannot understand how intelligent people could have voted for Obama, but they do exist. Warren Buffet is another example.

On the positive side, Cramer's demographics include many Democrats so maybe even they will begin to realize that Obama's policies are destroying this economy. One can only hope.

Since Cramer was an Obama supporter, we know that he is not some Republican ideologue. This is a must read on Cramer's Response to the White House.

In it he states:

I also made it clear in a New York magazine article that I favored Obama over McCain because I thought Obama to be a middle-of-the-road Democrat, exactly the kind I have supported all my adult life, although I will admit to being far more left-wing during my teenage years and early 20s.

To be totally out of the closet, I actually embrace every part of Obama's agenda, right down to the increase on personal taxes and the mortgage deduction. I am a fierce environmentalist who has donated multiple acres to the state of New Jersey to keep forever wild. I believe in cap and trade. I favor playing hardball with drug companies that hold up the U.S. government with me-too products


Of course, I have no idea how he could have thought Obama was some kind of middle of the road politician. But, his article is right on the money, (no pun intended.)

March 05, 2009, Dow drops another 281 points and sits at 6,594. down from 9,654 since the election down over 3,060 points, a 32% drop, and the freefall continues. When are people going to wise up and realize that Obama is destroying this economy?

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