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More like a blessing based on this interview. Educate yourself or live in ignorance! Better of let the market decide and leave the dumbass GOV. out of it since they have such a great track record.
What a pansie Cramer is. Wasn't he begging for 50bp a few days ago? Now he's knocking the fed because its fashionable... idiot. The best part was where he suggested blaming the mortgage problem on the fed. The mortgage problem started in wall street -- its called collusion of ratings services and I-banks, the profession that Cramer himself descended from. Anyone who is serious about Ron Paul needs to read his gold bug 'book'. wiki him to find it. If you agree we need to go back to a physical gold standard, then you are set. Until then, we are in an oil and food standard. Gold standard currencies are just as manipulated as fiat currencies. The whole thing is silly. Just remember guys -- bitching about the fed and wall street and blaming them for the US currency's demise is about as myopic as one can get. The real cause of this inflation move is global equalization and lack of US policy to deal with SUPPLY of dwindling commodities (oil, food). Energy policy is the problem guys. Its not the fed. If we had unlimited oil and food supply in the US, cost of living would be cheap and the dollar strong. This is about global competition for resources, which we are unfortunately losing (because we're not proactive about balancing our 'consumption budget').
An inflationary fed policy was the impetus for the Wall Streeters and the RE complex to get the game started.
I am sorry to say this , but this is another dumbass statement! Why don't you actually do some reasearch to find out why you posted such a lament response!
You bet its happeing and its about time! Its time for ignorance to subside and the truth to prevail. This for the better of all man kind and not the few!
agreed; i've said myself that the fed should've started raising rates back mid-2003 - when the condo i bought in San diego was already up 20% y/y. But the CDO misratings was the crux the last 20-30% of the blowoff top in real estate. But look how far we've come. Many of those bank, mortgage, homebuilder stocks are down to 2002 or lower levels. Looks like what they tooketh they already gave back. My point, though, is that the inflation we are seeing today is not purely a result of FOMC policy. It is global equalization/modernization and demand for key resources. And our lack of a winning strategy to solve the crude problem -ahead of time- is probably a bigger cause of dollar devaluation than FOMC's temporary loose $$$ policy (and by the way, I DO remember the worries of deflation ... in a recession the 'better safe than sorry' policy was probably a good move though. that doesn't make it OK however how long they kept rates that low, though).