Jim Cramer's Take

[lordofdelusion]

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

"The situation right now is so bad that a little Cramer calculus showed the Dow could drop to as low at 8,378 – a 2,768 decline – if Paulson’s plan doesn’t make it through Congress. That’s why this week’s Game Plan, just like last week’s, is a call to viewers to keep selling their stocks into any strength. Deal or not, we’re still most likely going to see a recession, so you want to preserve capital at all costs. The only thing a congressional agreement really brings us is avoidance of another Great Depression.

Just in case you think this bailout is only about saving Wall Street, think about this: 100 million Americans – about half the adult population – owns stocks directly or indirectly through mutual funds or retirement plans. No deal means your pension fund, 401(k), IRA, 529 college savings all plummet in value. Cramer can’t emphasize enough how important Paulson’s plan is to boost the credit markets – the economy’s fuel – force money back into stocks, bonds and the like, and get economy moving again.

Even outside the U.S., circumstances are dire. BRIC – Brazil, Russia, India, China – they’re all hurting. Chinese growth has collapsed, India’s inflation is out of control, foreign capital fled Russia when it invaded Georgia, and Brazil, while still a robust market, is a victim of the U.S. slowdown.

“BRIC, which was once the driving force of global economic growth,” Cramer said, “is now an actual brick around the neck of the world economy.”

The industrials, telcos, techs, oils, any company that relies on economic growth, will get hit hard if the Paulson plan falls through.

So “it’s not just the stocks of Wall Street,” Cramer said, “it’s the stocks of Main Street that are about to be crushed.”

Therefore, keep on selling into any strength. Deal or no deal, now’s the time to play defense."

Most important to me is what to do with my money now. Everywhere I turn I see a case being made to get out of stocks, (any nations stock) bonds, (corporate or government), money markets, commodities and on and on. Is my bank safe? Is a Thai bank safe? Anyone else feel this confusion? I have to put money somewhere. My funds are in US dollars but I live and spend in Thailand. Any serious suggestions are welcome. Sounds like we are all in this mess together.

[midas]

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

"The situation right now is so bad that a little Cramer calculus showed the Dow could drop to as low at 8,378 – a 2,768 decline – if Paulson’s plan doesn’t make it through Congress. That’s why this week’s Game Plan, just like last week’s, is a call to viewers to keep selling their stocks into any strength. Deal or not, we’re still most likely going to see a recession, so you want to preserve capital at all costs. The only thing a congressional agreement really brings us is avoidance of another Great Depression.

Just in case you think this bailout is only about saving Wall Street, think about this: 100 million Americans – about half the adult population – owns stocks directly or indirectly through mutual funds or retirement plans. No deal means your pension fund, 401(k), IRA, 529 college savings all plummet in value. Cramer can’t emphasize enough how important Paulson’s plan is to boost the credit markets – the economy’s fuel – force money back into stocks, bonds and the like, and get economy moving again.

Even outside the U.S., circumstances are dire. BRIC – Brazil, Russia, India, China – they’re all hurting. Chinese growth has collapsed, India’s inflation is out of control, foreign capital fled Russia when it invaded Georgia, and Brazil, while still a robust market, is a victim of the U.S. slowdown.

“BRIC, which was once the driving force of global economic growth,” Cramer said, “is now an actual brick around the neck of the world economy.”

The industrials, telcos, techs, oils, any company that relies on economic growth, will get hit hard if the Paulson plan falls through.

So “it’s not just the stocks of Wall Street,” Cramer said, “it’s the stocks of Main Street that are about to be crushed.”

Therefore, keep on selling into any strength. Deal or no deal, now’s the time to play defense."

Most important to me is what to do with my money now. Everywhere I turn I see a case being made to get out of stocks, (any nations stock) bonds, (corporate or government), money markets, commodities and on and on. Is my bank safe? Is a Thai bank safe? Anyone else feel this confusion? I have to put money somewhere. My funds are in US dollars but I live and spend in Thailand. Any serious suggestions are welcome. Sounds like we are all in this mess together.

lordofdelusion I feel just the same as you - we are on the brink My main fear right now is that

if Israel attacks Iran - that would send us all right over the edge...................

[Wrong Turn]

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

"The situation right now is so bad that a little Cramer calculus showed the Dow could drop to as low at 8,378 – a 2,768 decline – if Paulson’s plan doesn’t make it through Congress.

Jim Cramer is just saying what many other people are thinking and saying.

And it was Jim Cramer, not long ago, who was yelling on his TV show that the DOW (DJIA) was going to hit 14,500.

As usual, these "pundits" are good at examining the present and the past, but don't have a good track record predicting the future.

That said, Yes, they DJIA could go to 8,000. If it does, this will be a buying opportunity for me.

As for the pensions, that's the way it goes.

I expect some form of agreement on this charade of a bailout to be passed within a couple of days, simply because of its vital importance.

[zzdocxx]

Cramer is notoriously unreliable.

[Groongthep]

Even though Cramer used to be a stock broker he is now in the entertainment business. He makes his money by selling books, selling subscriptions to his blog and getting people to watch his television program thus generating advertising money. If he didn't say controversial things and act eccentric at times he would be just another boring pundit. Statements like the one above are meant to grab your attention in hopes of selling more books and getting more viewers. While a crash is certainly not impossible, I think it would be more prudent to get the opinions of several other respected experts in the financial field before selling off all your stocks the next time a small rally occurs.

[london]

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

As usual, these "pundits" are good at examining the present and the past, but don't have a good track record predicting the future.

That said, Yes, they DJIA could go to 8,000. If it does, this will be a buying opportunity for me.

Exactly.

None of them know any more than you or I....if they did, why didn't they predict this 2 years out?

Same as you: its a buying opportunity anyway...whether it hits 8000 or whether it consolidates at these levels.

[london]

Cramer is notoriously unreliable.

The ONLY thing that is reliable about him is his UNreliability!

[london]

Even though Cramer used to be a stock broker he is now in the entertainment business. He makes his money by selling books, selling subscriptions to his blog and getting people to watch his television program thus generating advertising money. If he didn't say controversial things and act eccentric at times he would be just another boring pundit. Statements like the one above are meant to grab your attention in hopes of selling more books and getting more viewers. While a crash is certainly not impossible, I think it would be more prudent to get the opinions of several other respected experts in the financial field before selling off all your stocks the next time a small rally occurs.

Yes, Cramer is, some would suggest, an entertainer. Certainly he goes hot and cold quicker than a tap.

This present situation, in comparison to 1987 is not a crash...but it is a solid correction....and IF you have faith in the system, a great opportunity to be buying in.

I haven't been (nor will I be) selling. But I should say that I AM buying. Time will tell if this is a good move.

[bendix]

Am i the only person not in the least bit concerned about all this?

[Naam]

That said, Yes, they DJIA could go to 8,000. If it does, this will be a buying opportunity for me.

and i will assist you as i wouldn't buy any DOW stock even at 2,500

[Naam]

Am i the only person not in the least bit concerned about all this?

you are in good company. my dog isn't concerned either

[lannarebirth]

No one's put a bullet in Jim Cramer's brain yet? Must have been born under a lucky sign.

[lannarebirth]

Jim Cramer from CNBC"S Mad Money had this to say in part from an article from the CNBC website.

"The situation right now is so bad that a little Cramer calculus showed the Dow could drop to as low at 8,378 – a 2,768 decline – if Paulson's plan doesn't make it through Congress. That's why this week's Game Plan, just like last week's, is a call to viewers to keep selling their stocks into any strength. Deal or not, we're still most likely going to see a recession, so you want to preserve capital at all costs. The only thing a congressional agreement really brings us is avoidance of another Great Depression.

Just in case you think this bailout is only about saving Wall Street, think about this: 100 million Americans – about half the adult population – owns stocks directly or indirectly through mutual funds or retirement plans. No deal means your pension fund, 401(k), IRA, 529 college savings all plummet in value. Cramer can't emphasize enough how important Paulson's plan is to boost the credit markets – the economy's fuel – force money back into stocks, bonds and the like, and get economy moving again.

If everybody's in, just who are they going to sell to? Assuming the market is based on selling your stocks on to someone else at a higher price. Anyhow, Cramer was and is a shill for whomever pays his fee. If that's not you I wouldn't be taking anything he has to say too seriously.

[Gary A]

The advice you get off this board is every bit as accurate as what Cramer gives. I followed ONE of his sure buys and lost over $3,000 within a few days. That stock went from about $8.50 when I bought and is now about $2.35. Fortunately I sold at $5.50.

[lannarebirth]

Am i the only person not in the least bit concerned about all this?

I would be lying if I said I wasn't concerned about "all this". But I'm not concerned about stocks, if that's the question.

[PCA]

The advice you get off this board is every bit as accurate as what Cramer gives. I followed ONE of his sure buys and lost over $3,000 within a few days. That stock went from about $8.50 when I bought and is now about $2.35. Fortunately I sold at $5.50.

tell us which one, I want to buy it now and you also should...

[Pakboong]

I am concerned about the sudden onset of mass panic that seems to be gathering steam. It is the panic that brings down the house.

[phaethon]

Cramer is notoriously unreliable.

He hasn't been the same since his parents got divorced...

[Misty]

Even though Cramer used to be a stock broker he is now in the entertainment business.

Make no mistake, stock broking is an entertainment business. It's all about storytelling, keeping the client engrossed while you stoke his greed or fear and then get him to take action. Doesn't matter if it's at the retail or institutional level--the job of the stock broker is to tell stories so his client churns his portfolio. It's the only way they get paid...and the better the entertainer, the more commissions....so Jim Cramer is just doing more of the same, but with a broader audience.

[Misty]

Am i the only person not in the least bit concerned about all this?

I'm finding the current situation extremely interesting. A lot is happening in a short amount of time. Not just with financial markets (although that would be fascinating enough)--there's also some major geopolitical shifts going on. Seems like some form of the cold war is coming back...

[flying]

I asked the same question 2 weeks ago

http://www.thaivisa.com/forum/Place-Cash-t212594.html

I am still worried but what I have done is try to pick what *appears* to be strong banks.

Keep less than the 100k limit in them & hope for the best.

I mean what else is there to do?

[VegasVic]

Cramer is notoriously unreliable.

That may be one of this decades greatest understatements But there is method in his maddness!! I see that most folks here don't really know who Jim Cramer is, well let me give you a brief education. Jiimmy was a hedge fund manager, and to be honest he was kind of at the slimey end of that sometimes despicable industry. He use to short and often naked short companies with his friends, companies that were doing OK but were going through an upcoming refi or going through a management change ect. and then he and his other hedge fund buddies would start malicious rumors about these companies and send out people to bash these companies on all the internet message boards and pay off unscupulous business reporters to write a negative article about the company suggesting that perhaps CH11 reorganization may occur. When Cramer and his boys created enough panic and got the SP low enough they would cover their short postiion and go long and then go through the whole process in reverse and have positive articles placed in the news and send posters to the message boards to pump the companies and then all of a sudden Cramer would appear on an interview on CNBC and say that this is a great company and he has not seen anything this undervalued in quite some time BUY,BUY, BUY! When the dot com bubble colapsed Jimmys hedge fund went under and so he wound up with Larry Kudlow full time on CNBC, and then he got his present show. Last year when Cramer was hyping the DOW to break through 14,500, he and his friends were shorting the market and now I see he apparently is predicting the DOW to crash to 8,500 or something so he and his hedge fund cronies are scooping up the bargains. Its all a confidence game but for some reason people believe this slug Cramer, even though he has been wrong 80% of the time (on purpose)! At least now you know the story of the amazing Jim Cramer

[LaoPo]

Cramer is notoriously unreliable.

http://nl.youtube.com/watch?v=GKZgfrsItmw JIM CRAMER...his -screaming- fun starts at 2.05 min....

"He has NO IDEA how bad it is up (out?) there....HE HAS NO IDEA.......HE HAS NO IDEA"(Cramer, screaming about Bernanke)

note: sorry for the BOLD extremes but watch the video...than you know what's extreme....

Jim Cramer in his Video...

LaoPo

Edited September 27, 2008 by LaoPo

[Taggart]

Cramer is notoriously unreliable.

Here's another Jim Cramer: The Flip-Flop.

[LaoPo]

Cramer is notoriously unreliable.

Here's another Jim Cramer: The Flip-Flop.

I didn't watch the entire video because this guy is making me crazy/dizzy and upset.

In Europe I don't know of any program or guy that is so absurd as this Jim Cramer and I really don't understand why America accepts people like him LURING people to invest..OR NOT.

If it is so bad as Vegasvic describes, and I have no reason NOT to believe him, the man should be put behind bars. If there is proof that he is deliberately 'steering' the markets it should be easy.

Does anyone agree with me or am I going too far ?

LaoPo

[flying]

If it is so bad as Vegasvic describes, and I have no reason NOT to believe him, the man should be put behind bars. If there is proof that he is deliberately 'steering' the markets it should be easy.

Does anyone agree with me or am I going too far ?

LaoPo

I believe if it were provable he would in fact be in jail.

Heck if the can jail Martha Stewart for acting on her Nephews info

Surely they could jail him too.

But you know this is part of the reason I stopped trading back in 99 or 00

I paid for the quick screens where I could see buys & sells lining up. What I learned from that was the power of those hedge fund guys was incredible.

They could move markets anyway with their buying & more importantly their selling. Took me awhile to realize when they showed 500 or 5000 shares to sell they werre dealing from an almost bottomless pocket & just kept replenishing as it sold.

[Naam]

Jim Cramer

the average used car salesman can argue much better than Jim Cramer

[london]

Cramer is notoriously unreliable.

Here's another Jim Cramer: The Flip-Flop.

I didn't watch the entire video because this guy is making me crazy/dizzy and upset.

In Europe I don't know of any program or guy that is so absurd as this Jim Cramer and I really don't understand why America accepts people like him LURING people to invest..OR NOT.

If it is so bad as Vegasvic describes, and I have no reason NOT to believe him, the man should be put behind bars. If there is proof that he is deliberately 'steering' the markets it should be easy.

Does anyone agree with me or am I going too far ?

LaoPo

Cramer is self-serving, greedy and derives pleasure in manipulating those who take notice of his rantings.

The guy ALWAYS gets over-hyped about something and, like you LaoPo, I HAVE to turn him off....on those rare occasions that his image appears by accident as I channel surf.

These guys always get what they deserve in the end. He has zero cred...and he certainly has the same level of integrity. Whether jail is the answer, or just public humiliation....perhaos the latter would be more appropriate as the ego would then have to deflate.

[Gary A]

The advice you get off this board is every bit as accurate as what Cramer gives. I followed ONE of his sure buys and lost over $3,000 within a few days. That stock went from about $8.50 when I bought and is now about $2.35. Fortunately I sold at $5.50.

tell us which one, I want to buy it now and you also should...

Have a shot! That company is Enterra Energy Trust. Symbol ENT.

[VegasVic]

Cramer is notoriously unreliable.

Here's another Jim Cramer: The Flip-Flop.

I didn't watch the entire video because this guy is making me crazy/dizzy and upset.

In Europe I don't know of any program or guy that is so absurd as this Jim Cramer and I really don't understand why America accepts people like him LURING people to invest..OR NOT.

If it is so bad as Vegasvic describes, and I have no reason NOT to believe him, the man should be put behind bars. If there is proof that he is deliberately 'steering' the markets it should be easy.

Does anyone agree with me or am I going too far ?

LaoPo

The power of the hedge fund industry and their inbred couisin the investment banks is nearly absolute in the markets, they have bought key Senators and Congresmen as I have mentioned in my past posts so they go virtualy unregulated and of course then there is the Sec. of the Treasury Paulson the former head of Goldman Sachs. The SEC is an amazingly small organization and much more adept(and motivated) at putting a cooking show host in jail than tackling some of these Hedge funds. The only positive thing that I have seen come out of this debacle recently is the fact that the FBI will begin investigating these Wall Street firms, and the FBI doesn't mess around so hopefully we will see some prosecutions in the not too distant future! As for Jim Cramer he is just a man voicing his opinions on a CNBC business show now, if the fools who listen actually act on his advice then they will soon become part of the "fool me twice crowd"! Many of these hedge funds are the next generation of the old boiler rooms, except they are much more high tech and savvy and are completely unregulated, they also operate in many cases from Bermuda,the Caymans, the Bahamas and Canada! We have certainly had our disagreements in the past (and will likely have more in the future ), but even you can remember that over 1 1/2 years ago I was the voice in the wilderness here warning of these hedge funds and the derivative markets It looks as though the chickens have come home to roost Lets hope the U.S. Congress can get there act together tomorrow and pass some sort of bill