What is this your first day watching Cramer. Can you tell me something he has been right on in the past year? I watch him every now and then just for the comedy and I heard him call THE bottom at least 3 times in the past year. The Dow is going to 10,000ish wit or without the bailout. The bailout will only influence Wall street salaries.
When Warren Buffet Talks people Listen. When Cramer talks, I have a bowl movement. Cramer is fun. But he is pure entertainment. Like watching the hills and really believing that LC and Heidi hate each other. If Cramer was FO real he would be rolling in the shiznit from his trading. He made his money like all the other Gurus, selling books and papers.
There will be a bailout. The question is, will it happen today or Monday...and who will get credit for it. All this other BS is just noise.
I place no bets on Cramer, but I hope he is right. Actually, down to 7,000 is the needed correction, without further meddling in the market by the jerks who spend future tax dollars at will. They're not kidding anybody except those sppon-fed by media.
Great, then we can look forward to this screwed-up price action, a delayed correction to 7,000 AND a trillion-dollar bill for our kids. Pity we cannot force these fools to get second jobs and let them feel what it's like to pay off never-ending debt.
When Warren Buffet Talks people Listen. ------------------- What people? Maybe the people who won the lunch auction. He said derivatives are bad and he went short the dollar, he is po'd that his secretary pays more in taxes and on and on. The people who listened, what did they do? Nothing. Did they back up the truck on brk?
Paaulson said, "Warren, I'm telling you, if you buy some GS I'll genuflect & kiss Nazi pelosi's ring in the halls of Congress". Bill Clinton overheard and asked if he would mind bringing along a cigar "just in case" and maybe I'll take a position too.
Republicans likely aren't the ones that are going to have to say "yes". They are going to present a plan that is drastically reduced in terms of money being used to buy congress support. It's been reported that Dems are demanding around $150B of it go to a failing current g-ment housing program. That's what happens with these rush deals. Money is thrown into completely failing and unrelated programs as an unofficial bribe for support. GOP is likely to remain stubborn on the issue just long enough that Dems won't be able to resist and risk being blamed for the talks failing. The bailout that the GOP house is currently rejecting is very unpopular throughout the nation. The more acceptable version for the nations majority gets rid of many of the Dem demands. That is why I say that it will likely be the Dems whom have to break down and say "YES".