Quote:
Originally Posted by The Freedom Trader
Shoot,
I agree with you, the morons should not be laying down money because of what he says. but I feel he gains there trust by being a big shot on tv. So he seems to tell them when to get into a stock but when the stock goes against them he dosen't offer help on getting out.
As you can probably tell I also just don't like the guy. With his goofey show, the stuffed animals of bulls and bears and his strange sound machine.  |
I mean don't get me wrong, I'm not defending cramer here, but what I am saying is that as far as responsibility goes if the viewer is naive enough to "trust" someone from watching a mainstream tv show then the joke's on him.
I have always believed that if there is any problem with the financial system it is probably rooted in ignorance. This means that education is the answer. The only alternative to this is more regulation, which interrupts probably the most important factor in free markets, self interest. As an example, in order for a market to find it's equilibrium both the buyers and sellers must compete to fulfill their own interests to a similar degree. So in a setting like the sub-prime crisis I believe the culprit was not the predatory lenders and all of the people in the financial world who were trying to make money off of unsuspecting individuals because that is what they are supposed to be doing. They are supposed to be trying to make money from others. It is in their interest to do this. But what the unsuspecting public failed to do was realize that taking out loans they were not likely to pay back was not in their best interest, and this alone should have been the equalizing and unregulated counteraction that made the market flow smoothly. So we can see here that education was the problem, not greedy lenders. It is impossible to remedy greedy lenders, and preferable to remedy ignorance.
I think cramer and his ridiculous show and crazy calls is actually good for people because it's a wakeup call which spurs people on to move past the bullshit and into something more relevant. It's the invisible hand at work helping people to realize that it might be in their best interest to pull their heads out of their asses and take a gander at the world around them.
Free the market.
Shoot.
Re: Jim Cramer cracks tricks of the trade wide open
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