Friday, August 1, 2008

Jim “They Know Nothing” Cramer Was Right

My husband and I watch Jim Cramer’s Mad Money on CNBC almost every day. I previously wrote about Jim here. He still has probably the best business show on television.

He is sometimes criticized for his not always accurate stock predictions, but let’s be honest, not everyone can foresee the future every time. Critics pounced when, one year ago today, Cramer had his infamous “they know nothing” rant about Ben Bernanke and the Fed, Bear Stearns, the SEC, and the housing market. (See video below.) It was the talk of the business sector, some people dismissing Cramer of overreacting.

I turns out Jim Cramer didn’t overreact at all. He had foretold the future as if he’d gone there in a time machine before that show and took notes and reported on what he saw.

Think about what happened since Cramer seemed to go off the deep end. Ben Bernanke completely messed up the interest rates, the US dollar virtually collapsed, Bear Stearns went belly up, and real estate dove into a death spiral. It's almost as if Jim Cramer knew these things would happen.

I know, I know, people say that even a broken clock can be right twice a day, but if you listed to Jim Cramer’s commentary last year, you will have to admit that his predictions are not based on just wild guesses. He knows how the market works, and also about how other happenings in the US and world that can affect the market. He’s not just a TV talking head, he knows his stuff.

Maybe it’s time that we get people in high positions in our government that have actually practiced what they preach. Maybe Jim Cramer should be Fed Chairman. Maybe people that work for our government financial sectors like the Fed, the SEC, and other organizations that monitor business and industry, should spend some time watching Mad Money if they can’t get the real life experience. Either way, if you want to be one leg up on what’s going on in the business world – or just the world – it could be worth your while to check out his show and maybe you will learn something. That way, you won’t be one of those people who “know nothing” and you can be better at protecting and managing your money.

They Know Nothing!

Check out my blog home page for the latest information, here.

No comments: