Another good laugh, seems cramer thinks Bubble ben bernanke is doing the right thing, "To Cramer, Bernanke seems to be the only person in Washington, who is fostering an environment where stocks can go up." So you have it right there in print that they are pumping up the indexes to make people feel like they have more, well lets get something straight here, the only people feeling the 100% rise in the stock market in the last 2 years are the rich and the wealthy, the other 45 Million people in Poverty don't feel any of this wealth, all they are feeling is the skyrocketing prices of goods and services due to the propping up of the stock market and economy. The rest of the working class have already taken out tens of thousands of dollars out of their 401k to help them during the last 2 years whether they were unemployed or losing their house. Do you really think a average person is pulling out thousands a month from their short term investments and going out to splurge on new technology, great restaurants and cars, no the average hard working middle class worker is putting away money in CDs at 0.5% and hoping one day they can make at least 3 or 5% on that. Also what I noticed in the article was cramer pointed out that higher stock markets companies can become public and put people to work???? Hmmmmmm....What I am starting to notice are big multi Billion dollar buyouts, these buyouts usually mean cutting the work force down or sometime sending the jobs over seas so what ever cramer thinks higher stock markets bring is mostly wrong. Cramer: Bernanke Is Doing the Right Thing cnbc.com | April 27, 2011 | 06:57 PM EDT After Federal Reserve Chairman Ben Bernanke spoke to the press on Wednesday, stocks ended sharply up and climbed to new multi-year highs, even though Cramer said the Fed chief said nothing new. Bernanke did, however, give the market confidence. Asked why he's sticking with his monetary policies, even though there's no evidence to prove its working, Bernanke noted the stock market has recovered and is rallying. There is, Cramer said, value to that and even for those who don't invest. When the stock market goes higher, Cramer said companies can become public and put people to work. Other businesses can fix their balance sheets and start hiring once again. A higher stock market also helps to increase consumer confidence, Cramer said, leading to greater retail sales. Finally, a higher stock market strengthens people's IRAs, 401(k)s and other retirement plans. Cramer said many lawmakers don't understand why a higher stock market helps the greater economy, though. Bernanke's understanding of the stock market's importance is what makes him unique among policy makers, he said. To Cramer, Bernanke seems to be the only person in Washington, who is fostering an environment where stocks can go up. Critics of Bernanke think his bond-buying program is creating inflation, but Cramer disagrees. If Bernanke's monetary polices was causing inflation, Cramer said stocks would be going lower, not higher. History shows us that stocks do poorly in a long-term inflationary environment, Cramer added. Gold did go higher on Wednesday, but Cramer said that's because it's in short supply. It's also being bought because people want a safe haven from paper currency, Cramer said. Think of gold as a kind of insurance, he explained. Cramer thinks it's a good idea for every investor to have a little gold in their portfolio anyway. Meanwhile a number of companies, including Amazon.com [ AMZN 196.63 +14.33 (+7.86%) ] and Hess [ HES 82.74 +2.07 (+2.57%) ], reported positive earnings results on Wednesday. The strong earnings results show Bernanke has created an environment where good earnings and stock gains can happen, Cramer argued. Thanks to Bernanke's policies, companies are able to borrow at better rates in order to expand and execute their plans, he said. "I say three cheers for Ben Bernanke for opening up the secret society of the Fed, telling us that he'll stay the course and boldly admitting that, yes, the stock market's a terrific barometer of our nation's economic health and a great indicator of how his policies are doing," Cramer said. "I couldn't agree with him more."
The strong earnings results show Bernanke has created an environment where good earnings and stock gains can happen, Cramer argued. Thanks to Bernanke's policies, companies are able to borrow at better rates in order to expand and execute their plans, he said. ---------------------------------------------- please if you lower the bar, low enough then of course the earnings look good. This earnings season so far is shite and forward guidance shows companies are nervous as hell. Only idiots would believe this is an "Great" earnings season.
About 75% of companies are beating, the only reason for these beats has to do with all the trillions in stimulus that they have pushed through the system, no one has a clue that the reason for stronger gdp, better earnings, bigger profits, better same store sales, better consumer confidence numbers, etc, etc is because of the trillions and easy cheap money policies set forth, take that all away and let the free markets work and see where this economy would stand. There is just too much intervention in the market. This isn't a great earnings season, they lower the bar constantly so it looks like they are crushing earnings. Again strip out every penny of stimulus and 75% of companies would be missing earnings. This economy has become to dependent on easy money policies.
Cramer also said, "When stocks hit $80, they usually go to $120! I know it's hard to believe, but my research shows that it works!" He said this right before he got his ass handed to him once again.
This guy is dangerous. I wonder how much money retail investors have made or lost because of him. On the other hand he is a brilliant self promoter.