Wow - Jim Cramer said Meltdown is Over!Buy Stocks, Banks Great Shape on Today Show 5/7/09 - Really?

This morning 5/7/09 I watched Meredith Vieira interview Jim Cramer about our current ecomony and where we were heading and actions we should take. Of course I couldn't wait to hear what he said, I mean jeez, look at his past recommendations ..... or just watch the Daily Show interview or read thread here about how right he has been in the past.

As I saw him come on the Today Show - I was completely enthralled on what he was going to say and it was everything I expected out of him.

What did he say?

He said the meltdown is OVER - the banks are not in the "black hole" people thought a few months ago.

Stocks are rising - Great time to get in because stocks are valued 50% or less than their "real value".

Oh - unemployment numbers coming out tomorrow (500,000) lost jobs in April - Wow - that is actually GOOD NEWS in his opinion, means not as many companies are going under and things are on the rebound! - He did say if those numbers had come out a year ago - it would have been considered catastrophic - but not now - those unemployment numbers are not bad at all!

There were a few more things said - but the above are the main points hit by him and mentioned. They are not exact quotes - but when there is a video out on it - at some point (hopefully) you will find it is pretty close to being exact.

WOW - where have I been? Have I been hiding my head in the ground somewhere - why haven't I seen how rosy everything is now?

So - let's just take this one step at a time - let's take his first statement above:

He said the meltdown is OVER - the banks are not in the "black hole" people thought a few months ago.

Am I an idiot or something... please someone - tell me - Didn't the banks get BILLIONS of Our tax payer dollars since Oct. 08 - thus wouldn't their balance sheets look in the black with those billions of dollars added? So, am I missing something here? Banks doing well?

Let's link some ATS threads here - just to see what the reality is:
by member: where2hide2006 - Bank Stress Tests - Leaked

another leaked stress test results thread by member: Alphard
Leaked! Bank Stress Test
This thread has the following in the Opening Post (OP)

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.

2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.

3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.

5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.

6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital!

7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!

Okay - so - now a question - Can we NOW with information provided above - assume Jim Cramer is correct in his analysis that the Banks ARE just Great?

hhhmmm.... things just don't seem to match up in my humble opinion - who is right and who is wrong?


Let's go on to his next statement:

Jim Cramer: Stocks - "Great time to buy - 50% or more under value - where they were a year ago"

Oh, I agree with the under where they were a year ago - duh - everybody can see that - on May 8th 2008 the DOW closed at 12,900 - except it is not a true 50% but never mind the small details.

Now let's look at a thread from a couple of days ago:
this thread is by member - silent thunder
"Furious" Insider Stock Selling Pace: Fastest Since 2007

Seems people on the inside of trading are trying to get out fast.... so, what do they know - we do NOT at this time?

Also the leverage of companies and their debt compared to their profit - exactly what calculation is Jim Cramer using? Is it the same calculation as what he used for Bear Sterns just days before they went under - a little reminder in the form of a Youtube video of him.



hhhmmm, am I going to go out and buy stocks right now - due to his recommendations? OH, let me think about that one for a while.... NOT!

Now - unemployment numbers............ WOW - how nice of him to think those 500000 people who lost their jobs last month - are nothing and actually it is GREAT that only 1/2 a million people lost thier jobs in ONE month.

The above comment - is actually quite repulsive to me - that I can not even put into words right now - what I would like to say about it! But - everyone of those people ARE IMPORTANT They DO MEAN SOMETHING! They are NOT just statistics - they are human beings being hurt by this Global Meltdown. OH - what am I saying ... Global Meltdown - Oh right it is Over - in some "experts" mind.

One last thing before finishing here - I have A COUPLE OF QUESTIONS FOR JIM CRAMER........................


What is YOUR opinion of what will be happening to the Dollar when all those Trillions of NEW U.S. (paper) Money fully Hits the Streets?

What will happen with those Banks have to give their Real Profit and Loss Statements during a Time they have NOT received Billions of Dollars from all of us "little people"?

What would you consider being "bad" unemployment numbers - if 500000 is "not" bad for one month of people losing their jobs?

OH - I have about a thousand more questions for him!!

hhhmmm...... jeez, anyone have any connections with Jim Cramer - if so, ask him to come to ATS - we would LOVE a question and answer session with him!

Oh, don't worry, I am not holding my breath for that to ever happen, I think he will strictly stick to the "friendly" shows he does for his Network NBC - MSNBC - CNBC!
Who don't seem to want to tell us the "real" story of what is going on today.

I will look for the youtube video of this interview on the Today Show and insert it when it is up. Or if someone else finds it, please post it.

Edit - spelling










[edit on 7-5-2009 by questioningall]

This is more dis-information, to pad the stock market while the insider's finish their sell-off. In the last great depression, the initial fall recovered for several months before it dropped 70%. I expect this kind of thing to continue all summer, and the real Depression to hit this fall with a renewed Swine Flu.

All conspiracy theories aside, just looking at historical data, The Spanish Flu subsided in the Spring and came back deadlier in the fall. The Great Depression took a summer off, only to come back harder the next winter.

Look for the market to be below 5000 by the end of the year. If you still have money in, follow the insiders and ride the uptrend, sell-off and prepare for a hard winter!

Jim Cramer is a shill for the corporations. He and his talking head moron crowd are wrong more often than right and when they are right, it seems to be a byproduct of their own big mouths. If they say it enough, their audience seems to believe them. At least that was the case.

As to whether or not the meltdown is over, I am not an analyst nor a seer. I do know that the real estate market here in NYC is first starting to drop and that the smartest people I know all seem to think there's another year or so of dropping until we hit bottom. This is related, in their eyes, to wall street still suffering and bonuses not being what they were and the general NYC economy simply not supporting the real estate market.

Alas, NYC is not in line with the rest of the country (or world). We seem to lag (or be ahead) of the curve.

This whole thing is just so people get back in so they can crush them again.

Also, Jim Cramer is a freaking joke.

questioningall, OH, what wonderful news.



How much did they pay him?

I actually would really like to know - how Jim Cramer can get on National News and say this when the same day this information comes out:

link to article:
www.nytimes.com...

The results of the bank stress tests have been trickling out for days, from Washington and from Wall Street, and the leaks seem to confirm what many bankers feel in their bones: despite all those bailouts, some of the nation’s largest banks still need more money.

After news this week that Bank of America and Citigroup would be required to bolster their finances again, word came Wednesday that regulators had determined that Wells Fargo and GMAC, the deeply troubled financial arm of General Motors, would need to do so as well. But regulators decided that American Express, Capital One, Bank of New York Mellon, Goldman Sachs, JPMorgan Chase and MetLife would not need to take action. The official word is due at 5 p.m. Thursday.

The results so far seem to suggest that the 19 institutions that underwent these exams will need less than $100 billion in additional equity to cope with a deep recession, far less than some investors had feared. The question now is, where will banks get that capital?

OH, I get it now....... ONLY $100 Billion MORE is needed - OH, yes, the banks are in Great Shape and NOT a Black Hole just as Cramer said! Gosh, aren't I looking a little silly now - for questioning Jim Cramer's comments. Only $100 Billion more needed from the govt.

I sincerely hope people are not taking what the "experts" say on the networks at face value, right now. I hope people are looking deeper into comments made, about how Rosy everything is now.

Including Rupert Murdoch yesterday saying the "Worst is Over" on a conference call with his investors!

I agree that Cramer (a.k.a. Conman T. Ripoffer) is a pure talking points man for the corporations and insiders and that these insiders are running up the market only to sell-off and reek more havoc in the economy (these guys PRAISE all the skewed, b.s. government stats and I wonder how many 'common' people actually believe any of those figures).

My sister, who self-educated herself about the markets and investing raked in nice money off the markets over the last few years and got out just before last years big decline. She listens to Cramer but doesn't believe a word he says. She has no inside connections but it's people like herself that should have a show to teach people how to invest rather than these self-serving, elitist, egomaniac sociopaths who couldn't care less if you lost your life savings as long as they brought in another dollar for themselves.

Bottom line is, Cramer isn't forcing people to invest or gamble your money. Those who do are taking a risk and have to be prepared to lose it all. More often than not, a fool and their money are soon parted!

Well, from mr. Cramers point-of-view...
the crisis -is- over...

Bernanke, along with the others at the highest levels of the banking & finance industries have spent the economic future on the paradigm shift
that includes all the IFFY derivatives and other Funny financial paper...
and the 'markets' to support the trade of all that counterfeit stuff.

the days of honest or hardworking reward are officially over...
it is only the deceitful manipulators who are allowed to succeed ~
~ at the expense of all the rest of us ~

fraud, deciet, corruption... are the new 'norm'
hard work, trade skill, honestry & integrity are 'passe' for the manipulator
class of a new Aristocracy...
the corporate top 10% have been given Carte Blanch in their dealings... which will allow some minor 'chump-change' to trickle down to the majority of the great unwashed.


It only took more than $13 Trillion
and a little over 16 months
to 'Institutionalize' the continued bailouts & profits for the corporate elite
including the network of interconnected 'Board Members' who vote
themselves high salaries and bonuses at the expense of of the persons
who man-the-lines of their Corporate mini-states.
no longer is there a 'right' to gainful employment... this follows the demise of a decent 'retirement' craftily taken away by the same corporation-government 'Beast' under the guise of 'Defined Benefits'
((usurped via Top Execs Bonuses over the years))


Too bad, Nader never got in office to clean out the govt-&-corporate
monster... we had two chances, but reelected Bush then installed Obama instead.
tough luck, guys

My first reaction was he may have been a victim of waterboarding , or maybe a labotomy.

Well, I don't think Kramer has done anything but earned himself another embarrassing guest appearance on the Daily Show, where he'll once again have to concede that he doesn't have a clue about what's really happening. He'll again put emphasis on the fact that he is an entertainer and nothing more.

Over? It's barely begun.

Originally posted by hoi polloi
My first reaction was he may have been a victim of waterboarding , or maybe a labotomy.

LOL
LOL


Maybe who knows.

These are the people that are supposed to keep us informed, the edumacated, and here I am just a beadweaver.

Its just all a con, we know they would bring out this rubbish. Wall street is run by the government and why do people let the government run the stock market when it supposed to be free, lol.

reply to post by questioningall


How does Cramer sleep with himself at night! I would be interested to see his actual sources of Income...boy what an eye opener that would be!

As questioningall said, how can he even hope to appear competent when there are headlines contradicting him?

Like this one for example! In the Wall Street Journal no less!

401(k)s Hit by Withdrawal Freezes!

Investors Cry Foul as Some Funds Close Exits; Perils of Distressed Markets

Some investors in 401(k) retirement funds who are moving to grab their money are finding they can't.

Even with recent gains in stocks such as Monday's, the months of market turmoil have delivered a blow to some 401(k) participants: freezing their investments in certain plans. In some cases, individual investors can't withdraw money from certain retirement-plan options. In other cases, employers are having trouble getting rid of risky investments in 401(k) plans

online.wsj.com...

www.abovetopsecret.com...


starred & flagged! Great Thread!

[edit on 7-5-2009 by burntheships]

Originally posted by Unit541
Well, I don't think Kramer has done anything but earned himself another embarrassing guest appearance on the Daily Show, where he'll once again have to concede that he doesn't have a clue about what's really happening. He'll again put emphasis on the fact that he is an entertainer and nothing more.

Over? It's barely begun.

well you know they are now blatantly in your face silly dishonest,

Even the most gullible wouldn't fall for this would they?

I don't think most people pay attention.

I believe the majority of Americans are ill-informed.

[edit on 113131p://bThursday2009 by Stormdancer777]

So after people lost most of their savings in the meltdown and many lost their jobs while the uncounted and undocumented are working at a much reduce income than a year ago just where do these people find the cash to buy these great stocks?

I guess it must be nice to have a chunk of money sitting around to dump back into the market, but these people like Crammer do not have a clue what it is like to live pay check to pay check during these harder times.

It also seems to me that no one cares about over inflation of the dollar, just think if it loses 30% more value and eveything cost 30% more with your pay only going up 2.5%.....

When that happens the only thing to do is buy more stock....ya right

Originally posted by Xtrozero
So after people lost most of their savings in the meltdown and many lost their jobs while the uncounted and undocumented are working at a much reduce income than a year ago just where do these people find the cash to buy these great stocks?

I guess it must be nice to have a chunk of money sitting around to dump back into the market, but these people like Crammer do not have a clue what it is like to live pay check to pay check during these harder times.

It also seems to me that no one cares about over inflation of the dollar, just think if it loses 30% more value and eveything cost 30% more with your pay only going up 2.5%.....

When that happens the only thing to do is buy more stock....ya right

It is like living in another universe from one another, when I watch the news.

I have never owned stock, don't totally understand it, and always thought people relying on it were gambling with their future.

and yes I live paycheck to paycheck.

This is a last ditch effort to get the fools to purchase stocks and to vere away from what they really should be looking into to protect their investments... Gold and silver.

S@F

reply to post by questioningall


Cramer really does give bad advice!
Cramer brought a friend on his show and recomended that company stock Two weeks later, the financial floor fell out from under the company.

Cramer was forced to apologize, but now he is back giving bad advice

He was telling folks with 401ks to take a risk with their money and not leave it in money market or stable value funds.

More bad advice from Cramer: www.opednews.com...

You have GOT to see the video - you will see I did not even put in this thread all the "ROSY" things he said!

You won't believe it - I sincerely HOPE people are not listening to him!

link to vid -
www.hulu.com...

It is not a youtube vid - so I don't know how to embed it here.



[edit on 7-5-2009 by questioningall]

who is cramer's target audience.............what is the age group

i am straining my brain to think of who are the morons calling in and giving him a "boo ya" .......they seem to think they are "hip and getting "inside" profressional info......and are apparently ignorant of his apparent lack of conscience and love for pumping and dumping stocks and investors as well

[edit on 7-5-2009 by cpdaman]