Tuesday, March 18, 2008

Jimmy Cramer from a week ago on Bear

Sent in by Rick in Chicago (a hardcore Paulite). I'd like to recommend this video even to those with no concept of economics. Good advice to be gained from this video - never trust anyone for your investment advice. In fact, it's probably good to do the opposite of what most self-appointed advisers think you should do.

Here, the criticism begins with Jim Cramer, who appears independently minded, but surely has his own biases too. That makes him a mouthpiece for those biases. Some of those are reflected in this video. Very bullish on Bear just one week ago.

The video goes on to attack the Fed for the welfare handout to JP Morgan. The Fed too has its own biases. We allow those biases to be aired behind closed doors.

We are going through some financial and economic trouble right now, I am very curious how the Fed will look when we come out of this trouble.

Perhaps it will look a lot better, perhaps it will come out with many people realizing their distaste for the Fed. That question will be a litmus for me, for how the American public will answer many other questions of accountable government and personal liberties as we move forward.

- Allan in Blue Island, Illinois

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