RiskAverseAlert

Cramer's Mad Money - Paul Krugman Is Wrong (8/10/09)

Mr. "Bottom Up" analyst -- the same douche bag who was citing an oversold S&P Oscillator last summer as reason to be bullish then -- is about to get his Action Alerts Plus ass kicked.

Cramer is a devote` to monetarism ... thinks Bernanke saved the world. However nothing could be further from the truth. The Fed is bankrupt. So, too, is Treasury. The nation that cannot produce wealth enough to service its mountain of liabilities is doomed. THAT is what last year's panic was about. THAT was its fundamental basis -- its reason for happening at all. You cannot paper over structural imbalances, pretending financial liabilities built up in the process continue to have legitimacy. The Shempster, however, thinks otherwise.

If you need further proof that Cramer's macro view is sheer fantasy, go to a Congressional town hall meeting. The rage you will see is incompatible with any "bottoms up" analysis pretending some semblance of similarity to days gone by is possible moving forward.