April 3, 2009

Jim Cramer says the Depression is over. Even though ANOTHER 663,000 jobs were lost last month.

I'm always afraid when I agree with Jim Cramer.

This is one of those times.

Cramer is saying GDII is off the table, although we still a have one hell of a recession to deal with, as today's sick jobs number just reaffirmed.

And I would suggest, if the government had done nothing - no bailouts, no stimulus, etc - not only would we have had GDII, it would have been even worse than the original.

We gave the crack addict some crack, so they'll feel better. Hoping that they'll go to rehab later.

We'll see. But for now, GDII is indeed off the table. The recovery will come. Deflation will end.

It's what happens five years and ten years from now that should have you worried.

Oh, and you should worry if your job is next.














43 comments:

Anonymous said...

keith, you got to be shitting me about that 2012 sample ballot. give me a break. talk about vote fraud......

Sol said...

Probably true for the US, Europe on the other hand is just now begining the inevitable financial collapse.

soft landing said...

The printing press may have kept us out of GD2. Now what?
I think I'll watch Schiff videos on you tube.

Anonymous said...

About this time in 1930 these were some of the headlines:


March 8, 1930
"President Hoover predicted today that the worst effect of the crash upon unemployment will have been passed during the next sixty days."

Washington Dispatch.
May 1, 1930
"While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. ..." - President Hoover


Not just by Hoover but economists and investment advisers from 1929 to 1934 were continually saying that recovery is just around the corner. There were more than six major rallies of the stock market during that time.

What is different this time?

BD said...

I cant read this blog anymore, youve totally lost your way dude. Keep drinkin the obama koolade, Im going back to MarketSkeptics and Peter Schiff for economic news...


-bd

vanilla ice said...

So because the stock market rises, everything else is getting better? The stock market does not support the greater economy, the economy supports the stock market.

Letting Lehman fail was the only good action by Bercracky.

Why should the stock market rise? The fundamentals for stocks are shot, which Cramer and Obama fail to mention. We aren't investing, we aren't saving enough, and more debt and inflation is not going to save us.

It's only going to get worse. Dow to 6,000!

F you Cramer

fat amelican said...

LOL - Cramer uses Obama's 180 degree flip flop "stance" on the importance of the markets as a positive indicator? Jesus H cult-of-personality god, what a head case! I have a feeling that Cramer would praise these jokers no matter what they say or do. He is just a bought-n-paid-for tool of the hedgies who are getting ready for the kill as suckers jump back into the markets for the big "Cramer rally".

Bo-yah my ass.

hp fan said...

AAPL and COP both up 9% this week...

Party Time!!!

Anonymous said...

Hey Keith, I bought a car yesterday. Paid cash, got a great deal. The salesman said he was glad to have a cash customer because only about 10% of credit apps the dealership submits nowadays are approved. Yeah, that Bernanke has really opened up the credit market floodgates...

Anonymous said...

hey look at cramer, making the sign of the v with his hand. what does that really mean?

Anonymous said...

Keith you are starting to bore me !
How the hell did you even spot the housing bubble while being so gullible and generally clueless.
Perhaps you where lucky enough to pick up a book written by someone with a clue like shiff . sorry for the attack keith but you are pissing off everyone intelligent enough to see through the likes of cramer and obama.

Anonymous said...

The stock market is now a casino, shares do not reflect ccompany value. They go up and down on tumors and news, not according to company performance. The stock market is disconnected from real economy. Its just rich folks selling to eachothers...

Amtex said...

Learn to use this blog to make money! We all knew to sell the market at 14000. And we knew that 6500, once Obama started acting confidentally after stumbling his first month, was the bottom. Yeah maybe we go down there again....but 10 years from now the market will be 15000.

Unemployment is not affecting the market. Well run companies improve their worker productivity and future profits, that is all.

I am shocked the rest of the readers here didn't get back in the market a month ago and are still holding out for gold $3000. You wasted the 55% stock correction!

Mitesh Damania said...

http://www.askbutwhy.com/2009/04/zero-dollar-bill.html

Anonymous said...

We are on nothing more than a trek toward socialsim.

It will seem like success but it will be very short lived.

Actually, I think the bankers are going to hold the biggets revolt as they finally wake up to no bonuses, no say, no reward and no capitalism.

It hath been foretold!

Anonymous said...

Yes and Cramer also told us this melt down was coming.

Yea right!

Clown I mean Cramer works for the late IBs.

Still trying to pump the market.

Nimesh said...

Cramer is a joke. A complete buffoon who spouts out predictions from both sides of his mouth. Thus he will always be right!

Then when the market does either of those two, he is on his show congratulating himself.

We are just getting started in this recession. The worst is still yet to come.

Anonymous said...

Obama, I mean Kieth, you are sick and need help.

Call a mental health professional today, Right Now. Check yourself into a good clinic before its' too late for you.

The New Depression cannot be stopped, it is an out-of-control train, speeding at full throttle towards the households of America.

Millions WILL Die, many more millions wil be broke, destitute, sick and pissed off and bitter and anyone calling themselves a politician will be hunted.

Infrasstructure will cease to exist. When the Fire Dept and Cops miss that first paycheck the uniforms will come off, services will stop on a dime and you are on your own, Bubba.

Americans will DEMAND justice, its only a matter of time and scale.

This is another diversion. Cramer is a discredited hack (remember the Bear footage?)and you all deserve what you get if you listen to him or the clowns on this blog.

Prepare. Think for yourself. Have a Family meeting to discuss possibilities.

The SS America is taking on water fast and going down lke a cheap whore politician.

Make a List. Know your enemies.

Take care of business when required.

Believe No One.

Anonymous said...

The Obama Gang-of-Thugs is attempting to prepare for civil unrest in the SF BAy Area. Here's whats' happening this weekend:

"Training tonight at Camp Parks
By Robert Jordan
Staff writer
Posted: 04/03/2009 03:42:48 PM PM

Military exercise planned: The United States Marine Corps will conduct a military exercise from 9 p.m. today to 1 a.m. Saturday at Camp Parks Reserve Forces Training Area.

An expedition force from Camp Pendelton will arrive in helicopters from Fort Hunter Liggett in Monterey County to Camp Parks. The exercise includes 13 helicopters and an unspecified number of troops, who will be using blank rounds and star clusters (firecracker-like devices in the air) during the training, said Dan Gannod, the public affairs officer for Camp Parks.

Gannod said the exercise is designed to simulate long distance travel that Marines may experience from their operating base to an objective. The exercise will be contained to the Camp Parks area, but residents may hear the rounds and star clusters going off.

Camp Parks is the training area for the Army's 91st Division (Reserves) and is the only training facility within a short driving distance for 11,000 plus reservists in the San Francisco Bay Area. It was built during World War II and commissioned in 1943 as a Navy Base home to the Navy Seabees. In 1951, it was transferred to the US Air Force and transferred again in 1959 to the US Army."

Preparations for Civil Unrest begining here in No. Calif. I am amazed they allow this news to be disseminated throughout the sheepdom. Mass bummers await.

Good Night and Good Luck.

PS: How do you like socialism NOW?

Anonymous said...

"...in 1930 these were some of the headlines...

...1929 to 1934... six major rallies..."

Went2puke said...

Come Summer, Dow will be @ 5.5K! So many suckers are showing up again and driving the market upward with total disregard to the state of the economy. Gamblers, addicted to the thrill of daily highs, are back riding the rollercoaster of Wall Street, and the brokers are experiencing once again their daily orgasmic jitters while the fat cats are spinning the frenzy and feeding on what's left of the sheeple's savings. Give it 3 more months!

Singular said...

Are you kidding? The US is toast. Just like the people on the Titanic saying, "It's all under control. Continue partying away." On the other hand, if you are in the business of peddling stocks as Cramer is, you wouldn't want to admit it's game over, would you. It wouldn't be good for business. You'd try and be upbeat occasionally to get the suckers in. Part denial, part selling strategy.

Anonymous said...

Its April. A lot of people who lost their jobs will not be buying lawnmowers, gas grills, RV's and the stuff that goes with spring. Everyone else is afraid to buy new crap. Scared and well should be.
America---land of the broke.

Anonymous said...

"I want you to protect me from that Jim Cramer."

-fellow entertainer Jon Stewart to the demonstrated schizophrenic

"...slippery little devils..."

...paying homage to himself and all the other paid shills.

Anonymous said...

Just because cramer says it is, doesnt mean its so.

Rising stock market for now.

Wait until this summer and Fall....

scooter said...

Keith, you're delusional. Just ignore the debt. We'll get back to "normal" economic functioning....like between 2002-2006. That's reality! NOT!

Anonymous said...

"Im going back to MarketSkeptics and Peter Schiff for economic news..."

Bwahahaha! Some idiot actually thought he was getting facts here! Now that's funny.

Hey Keith, I have a question for you - why do you want idiots who actually believe your lies on your side? Why wouldn't you want smart peope who know BS when they see it?

Anonymous said...

He now does what HE is told!

He's a good boy now or they send Keith, Jon,CHris or the Lesbo to bite HIM.

Boooooo!!!

wallstreetveteran said...

Journalists NEVER get the stock market right. Why? Because they spend all their time writing stories and pitching them. Real experts on stocks are too busy researching and trading and are focused. How much time does Cramer use to understand things? Very little. Instead you should follow George Soros, Jim Rogers, Peter Thiel, etc. Real investors. If you think they have an agenda, see thru it. Forget TV actors.

Anonymous said...

Keith,

Toss me into one of those "WTF is he talking about?!?!" buckets.

Was going to do more analysis, but I'm trying to get away from that stuff.

Carry on.

But, but... but you ARE getting to be confusing in your views.

Afterthought: Scratch the above.
Ya know, I think there's not a single soul on this planet who's not confused right now.

Anonymous said...

Keith, ever since you had the other blog I have seen you to be reasonable and mostly correct in your thinking. Your post today is the ravings of a mad man. A delusional groupie of Jim(Never Been Right Yet)Cramer. This depression is NOT over, it's just getting started. There is not one fundametal in this country that points to growth or a correction, not one. This is a suckers rally, a bear trap. Lots of guys covering shorts etc. Cmon, get real and come back to reality. You'll have people deleting your blog off thier reader list like wildfire unless you do an emergency post and say you were pulling and April Fools post 3 days late.

JaneZ said...

Short term thinking

Anonymous said...

cramer, making the sign of the v with his hand. what does that really mean?

Anonymous said...

"It's what happens five years and ten years from now that should have you worried."

Try five and ten weeks.

The dollar WILL crash...and that's when things get really ugly.

Anonymous said...

HEY KEITH ...

Look what your messiah is up to...how do you like him now!

******************************
WASHINGTON POST -
Administration Seeks an Out On Bailout Rules for Firms

http://tinyurl.com/dhs7b5

les said...

Vanilla Ice is right.

Lehman, despite what CNBC pushes, corrected the market.

CNBC is constantly saying "we don't want another Lehman" we have to do something. Bullshit. The stock market was overpriced selling at P/E ratios of 30+. It is currently trading at P/E of 15, which is where it should be.

Don't watch CNBC. Especially don't listen to Cramer, Kudlow, Kneale, Bartilomo and Burnett. They were put there by Goldman Sachs.

Anonymous said...

> And I would suggest, if the government had done nothing - no bailouts, no stimulus, etc - not only would we have had GDII, it would have been even worse than the original.

Jezz Keith, you're on both sides of everything.

keith said...

last anon, I'm just stating a fact. You may hate it and so do I, but throwing trillions at the debacle prevented a GDII.

It's like giving a crying baby a pacifier. It did the trick.

That said, it f*cked future generations big-time. And it doomed America to a decade of wild inflation and dollar devaluation to come.

But, go back to my original statement, it avoided a GDII.

It is what it is.

Deal.

Anonymous said...

>It is what it is.

Deal.



When McDonalds is open and Idol is on I can deal with anything.

Anonymous said...

Hey Keith

You're wasting our f*cking time, man!

Take a stand and stick to it

Anonymous said...

Why is it that you've come to take every challenge or critcism as "hate"? Your becoming as sensitive as Casey Serin.

Anonymous said...

We didn't avoid GDII, we just postponed it. Once day after Obama's trillion dollar stimulus runs out, there will be another 2 million unemployed. How did the stimulus change anything? Did we develop new technologies or products? Did we build more efficient factories? How will anything be different?

All of the money given to the banks, AIG, etc. just went to keep rich crybabies from taking a haircut on their bonds. How does that pull us out of GDII?

maximus said...

Basically,

you're saying that since the US printed the money earlier in the crisis than Japan did they will avoid a similar deflationary result.

I don't think so....just like Cramer you will be periodically making this same call over and over as the US continues to print Trillions and Trillions more. Now that you have joined the ranks of Cramer I wonder if you will feel as entitled to as many bottom calls as Cramer moving forward too?

Seems easy to me to see that the only use of the Trillions so far printed has been to prop up the stock market....

It sure as hell isn't in the hands of the consumer and there is no method for getting it there other than more debt which means we simply repeat the same credit bubble....But things have changed...

Unemployment is skyrocketing already without the millions of jobs that should already be lost via the big 3 auto makers. Imagine when that reality sets in....

Unemployment has historically been a lagging indicator, but this time it will serve to be a leading indicator because the US propping up all these jobs is creating an unemployment rate that is hugely understated. We'll see how long that charade lasts....

Printing money does not put it into circulation, nor does it reinflate anything. Study Japan's dealing with this crisis--and they HAD PERSONAL SAVINGS, the US has NONE....

All the US did with their "preemptive quantative easing" was rearrange the deck chairs on the Titanic. The hole is still just as big (now bigger with ever increasing debt service) and the end result will be the same or worse....

Maximus
http://4best4worst.wordpress.com/