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JT - You're letting your personal biases mask the content here. The
point wasn't to discuss Cramer's style, personality or record (which
we don't know anyway other than if he tells us or by way of rumor).
Round-about, what he is saying is that he thinks AG will not lower
rates in the near future, that some current pain is necessary for
past excesses. This may be what the FED is thinking now.
But yet there are many crying for an immediate rate reduction in the
hope that the over-valuation of many assets in today's market can be
restored. Most sound like kids in a candy store with their parents
begging for some more candy, even though their teeth hurt and they
have a mouthful of cavities (hey, I like that analogy <g>).
Would a .25% change in rates really make much real difference? I
don't think so. In any case, the FED's "tweaking" of interest rates
in an attempt to micro-manage economic response is questionable. I
think it is like a car facing an accident where you try to steer to
the one side but the car goes to far, so you twist the wheel in the
other direction hoping that corrects enough to avoid the crash. But
that sends you careening in the opposite direction. Most in this
scenario wind up crashing anyway. Hitting the brakes (hopefully anti-
lock <g>) and trying to avoid a direct head-on crash might be the
better course. Translation: IMO, it would be better to maintain
steady interest rates in an acceptable range as long as possible
rather than to play around with them in micro movements of .25% up or
down. If the market wasn't so sensitized to how the FED works, then
larger increments in either direction on an infrequent basis might be
a better long-term course.
But eventually, it won't matter what the FED does since events will
overpower any control they have. If lower rates were the fix for
everything, then certainly Japan should be doing very well these days
given that their interest rates have been near zero for quite a
while. Which obviously isn't true. The only thing propping up Japan
is exports now.
JW
--- In realtraders@xxxxxxxxxxx, "James Taylor" <jptaylor@xxxx> wrote:
> A little history on this guy Cramer: Was booted from Fox for
touting his
> stocks on the show, was expelled from CNBC for same shameless act.
I have
> not been personally burned by this scumbucket, but I have been
reading his
> trash for the last year, and following his nonsense 'advice' would
lead one
> to financial ruin. I despise his type since there are so many
gullible
> folks out there who have been and will be financially devastated by
his
> type. My advice is to avoid him like the plague. I'm contacted him
> personally and told him this as well.
>
>
>
>
> ----- Original Message -----
> From: "Daniel Goncharoff" <thegonch@xxxx>
> To: <realtraders@xxxxxxxxxxx>
> Sent: Saturday, November 25, 2000 10:58 PM
> Subject: Re: [RT] Cramer dreams meeting Alan Greenspan
>
>
> > I don't know what you have against Cramer, but you must not read
him very
> much,
> > since he is not a tout, nor does he try to forecast anything about
> individual
> > stocks.
> >
> > He does 'analyse' the workings of the market, after the fact, as
most
> analysis
> > must be, but I have found his explanations useful for my trading.
> >
> > Regards
> > DanG
> >
> > James Taylor wrote:
> >
> > > If one listened to anything this clown Cramer said this year,
they would
> > > have an account with a much lower balance.
> > >
> > > I have been watching this jokers comments on his site and on
Yahoo, and
> he
> > > has got to be one of the absolute worst stock 'analysts'/touts
on the
> planet
> > > earth PERIOD.
> > >
> > > He deserves for his dot-bomb to be where it is. IMHO.
> > > JT
> > >
<snipped>
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