Cramer's Stop Trading! What Do Cramer and Rush Limbaugh Have in Common? (1/29/09) 37 comments
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Stocks discussed on Jim Cramer's Stop Trading! TV program, Thursday January 29.
Cramer Agrees with Rush Limbaugh? Bank of America (BAC), Caterpillar (CAT), Nucor (NUE), Charles Schwab (SCHW)
Cramer actually agrees with Rush Limbaugh and finds Obama’s stimulus plan rather uninspiring; “There’s really nothing here. It doesn’t put anyone to work. And it doesn’t build any bridges. And it doesn’t fix the bank situation.” Any stimulus program worth its salt would deal with foreclosures, collateralized debt obligations, would give aid to the financial sector and help Caterpillar to create jobs. Cramer also agreed with Dan DiMicco, Nucor’s CEO, who said not enough stimulus money was going to infrastructure. Housing was also not included in the stimulus plan, and Cramer thought the bad housing number was a good sign, since he doesn’t think there will be a bottom in housing until a homebuilder goes bankrupt. On a final note, Cramer said Charles Schwab is down more than it should be and is a long-term winner.
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“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race”
I would add that wealth is also no sign of greatness. It's our idolatry of lucre, focus on the short-term and delusion that we will some day have that great wealth that got us into this mess.
On Jan 30 08:53 AM Larry Gagnonl wrote:
> "Idiots" is an interesting word. How can they be "idiots" if they
> make millions of dollars to spew forth random thoughts without being
> responsible for the validity of those thoughts. I wish I could obtain
> such a job.
We haven't had enough time to see if Obama can be lord of the jungle. Just because everyone is looking UP to him, doesn't mean there isn't still scat on the ground.
On Jan 30 09:00 AM mngordo wrote:
> The amount of money you have or don't have has little to do with
> whether or not you're an idiot. There is no connection whatever
> between net worth and net character.
I will agree regarding the stimulus (pork) plan. We are going to pay for this one way or the other; higher taxes or inflation.
happy investing to all
cheers
jc
Rush never met a Republican he wouldn't support against a Democrat. Even if that Republican spent money like a drunk in an Airport lounge. Bush didn't veto one bill, gave us ungodly debt, no energy policy, made sure the World knew we would fight for OIL. Rush supported the Bankruptcy of the United States and in so doing unmasked himself for what he is, or rather has become. A shill for big-moneyed players and the corrupt.
Are there any more drug-addled radio hosts out there who should be consulted?
Maybe Don Imus can advise on foreign policy.
Maybe Opie and Anthony could help with Energy.
Howard Stern for Secretary of Education.
On Jan 30 10:38 AM optionsgirl wrote:
> Pelosi and Obama are of the same ilk.
Lez see? Rush and Bush got huge tax cuts in this decade and now our Economy is in the toilet. Clinton raised taxes in the early to mid 90s and we had the longest peacetime expansion in history.
Calvin Coolidge btw was more responsible for the Great Depression than Herbert Hoover was. (sadly Hoover got blamed for a lot he didn't cause.) Andrew Mellon was both of those Republican President's sec of treasury and he coined the phrase "Liquidation" meaning "let's let the workers and farmers starve" (which was an expression borrowed by joe stalin to describe similar methods of governance.) Coolidge and GW Bush stand in line in who were the two worst economic President's ever. With Reagan the worst for giving us Huge Deficits and Alan Greenspam. (all three Presidents took a lot of time off from work and went to bed early ignoring the real people and real economy.)
I think a tax cut for working folks in the lower middle class is ok but since many of them will be soon unemployed I don't think it's a stimulus. It's a placebo perhaps.
Cramer? ha, he at least acknowledged that CEO's got us in this mess..but Rush is a slack jawed porker licking every ceo's arse for his square miles of mahogany mansions with a whole slew of unsatisfied ex-spouses lined up for a portion. Rush is a cretinous southern small town whiner with a talent for invective and victimization propaganda for the small minded businessguys who have time to listen to him while their workers do the real work. Anybody who actually does real work doesn't have time to listen to that idiot. But other tight fisted impotent idiots love him.
Flash back to the neo-con's answer to 1970's stagflation and Milton Friedman's Shock Economics Theory he plied so well in South America for right wing fascists.
Roll tape a bit forward to the Gipper. Cut taxes, spend on defense out the wazoo, run record deficits, de-regulate markets and watch Uncle Milties' magic work.
While every right wing neo-con tape loop is buzzing with out-of-control GSEs, we all seem to conveniently ignore how all of this silly and frightening theoretical economic approach played out around the world through the likes of the IMF, World Bank, Halliburton, and their ilk.
Look at any country where this supply-side, trickle down, deregulated gambit has played and look at how eeiry is the similarity between those countries and this one:
1. The top 1% control 40% of all financial wealth in the U.S. The top 20% another 52%, leaving the rest of us (80%) America's financial wealth at a whopping 8%.
2. In terms of inherited wealth only 1.6% inherit moe than $100,000. 91.9% receive nothing. Yet the "death tax" is the highest priority on the ultra-conservative agenda.
Now for some sobering reminders:
Under Clinton we enjoyed a $287 Billion SURPLUS that's now an ever-growing DEFICIT that at last peek was nearing $1.4 Trillion and national debt that has grown from $5.7 Trillion to $10.2 Trillion in just seven years.
It wasn't because Clinton was an economic genious. He simply returned out-of-control revenue reduction (tax cuts) back to the Reagan rates and chose folks who shared his philosophy of government and its role. I'll put my money in the hands of the guys that believe that it's the government's job to invest in the 80% of us that need practical ways to grow our own wealth (smart energy policy, infrastructure development, education).
As for trusting in the markets to right the ship....?
On Jan 31 05:03 AM Pipeliner wrote:
> Remember how Regan got us out of a big mess? It was a ten percent
> invester tax credit. Obamas' plan won't work any better then it worked
> in East Germany.
Personally, I hope that Obama succeeds, but this bill really has a lot of Pelosi pork. I think that it is a political payoff, and not a serious attempt to reflate the economy, and likely won't work.