Tuesday, March 3, 2009

Jim Cramer: "Obama Destroying Life Saving of Millions"

Nice Deb has video of CNBC's Jim Cramer, who says "I just want some sign that Obama realizes the market is totally falling apart, and that his agenda has a big hand in that happening ..."

It turns out the White House is not digging it, with reference to Cramer's appearance on the Today Show, "White House Knocks Jim Cramer For Calling Obama Budget "Greatest Wealth Destruction By a President":

NBC's Tom Costello, on duty at the White House today, asked press secretary Robert Gibbs about some comments made by his CNBC colleague Jim Cramer. On the Today show this morning, Cramer called Pres. Obama's budget a "radical agenda," adding, "This is the greatest wealth destruction I've seen by a President."

"I'm not entirely sure what he's pointing to to make some of the statements," said Gibbs. "And you can go back and look at any number of statements he's made in the past about the economy and wonder where some of the back-up for those are too."
Man, you've got to love this. The Democrats are pushing back against the media now that they've got the power, and the markets are voting no against the big-government power grab.

Allahpundit's got a longer video, plus an analysis of the White House's response - and he ends his post with the damaging quote from Cramer: "This is the greatest wealth destruction I’ve seen by a president."

Watch the whole thing, here. More commentary at Memeorandum.


JBW said...

I'm not defending all of the spending being done by the Obama administration by any means but I have to say that Cramer is an idiot. He's been consistently wrong on a host of calls he made last year.

He makes volatile, short term guesses about the market rather than promoting stable, long term strategies (the financial equivalent of John McCain's last presidential campaign). Plus I just hate being yelled at by people on my TV set. Take him seriously at your own peril.

Donald Douglas said...

JBW: It's the buzz that counts. The White House is pushing back, 'cuz even if Cramer's wrong long-term, it hurts on the front side.

Ron K said...

it's irrelevant if Cramer is wrong it might affect a small group of people on the other hand if Obama is wrong it will screw the country, and it looks like a lot of people are voting on that issue with their funds.

Philippe Ohlund said...

Of course Jim Cramer is right.

I remember when I studied to my law degree in Stockholm, Sweden, during the '80s, that we law students were very different from those who studied economics, sociology, or languages.

Those who like me, or President Obama, have studied law, understand that there are more important issues than economy, money, or social issues, like for example justice and respect of traditions.

Frankly, with his mind set on law matters, President Obama is a conservative, and he doesn't give a damn about economy.

Why did President Obama study law?

Well, because like me and all other law students, President Obama believes more in bureaucracy, principles, and law regulations, than in money and social issues.

The problem with President Obama is that he now wants to regulate business, money, and social issues with principles.

It would be more honest of President Obama to admit that he does not know anything about economy, and that he does not care or have a clue, and therefore would not make decisions concerning issues of economic nature, but leave that to the market, which always knows best.

I saw the interview on CNN today with President Obama and PM Gordon Brown.

President Obama is still very underestimated by the public.

Unfortunately President Obama overestimates himself, and therefore he starts to deal with things - the economy, the mideast, Iran - in ways which are very destructive.

Instead President Obama should do what he does best: enthusiasm people to become inventors and to fix things, by eliminating unnecessary bureaucracy and taxes, and concentrate on giving future generations better education and health care, for them to become smarter, wealthier, and stronger.

John McEnroe was an outstanding tennis player, and therefore he played tennis with great success, without trying to win an olympic gold medal as a javelin thrower or skier.

Dana said...

Well, when the editors of The Wall Street Journal speak about the economy, people ought to pay attention. And the editors said:

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they’re no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.

Dave said...

Robert Gibbs couldn't find his ass with a flashlight, a map, verbal as well as written directions, and a twenty minute head start.

The interesting thing will be seeing just how long NBC allows Cramer to get away with this.

After all, he is committing heresy by dissing the messiah, and the Nothing But Communist Network, along with the rest of the MSM, blew their remaining wad by wagering what little credibility they had left putting Obama in the White House.

Don't be surprised if Cramer suddenly comes down with an "unidentified illness" of some sort and drops out of the scene for a while.


cracker said...

In Name only.....INO

Pino..private in name only

Sino..Savings in name only
or solvent in name only

Bino..Bank in name only

Which brings us to this idiot

WINO...Wealth in name only

The banks say its there, the books say it aint....

There is no tangible wealth to be destroyed....all that remains is a truth....a truth so unbelievable...by those who are mentally unable to accept that, yes your 61 years old and all your money is gone, unaccounted for...there is no fairness, there is no payback, there is nothing.

Very soon, on a Friday evening, the announcement will be made, on the WEb, TV and Radio.... "All banks have been nationalized", not out of a Capitalist,Socialist Fantasy Film Fugue.....but because the lie could no longer be continued.

Too simple?

defender said...

Philippe said:

"Those who like me, or President Obama, have studied law, understand that there are more important issues than economy, money, or social issues, like for example justice and respect of traditions."

But "Justice" and "Traditions" do not put food on your table providing nutrients to sustain life - that is one thing that "Economy" does.

Philippe Ohlund said...

Hi defender! :-)

It is true that I expressed myself in radical terms there.

Of course the economy is very important.

But you need good laws in order to be able to earn money.

I remember when I visited Egypt some 10 years ago.

The staff at the hotel, where I lived, worked from 8 in the morning until 8 in the evening every day.

They did an excellent job, and worked very hard, but yet they only made 100 dollars per month they told me.

The economy has in fact not much to do with how hard you work or what you do, it is solely dependent upon good legislation.

A worker here in Belgium gets 2000 Euro per month for doing exactly the same job, which only renders a worker in Romania 200 Euro.

What puts food on your table is not primarily based upon economy or hard work - even if those are very important factors - but upon smart legislation with good incentives.

But then of course it is better to sell a big ship and get 4 % of the value of the ship, than to sell a book and get 4 % of the book's value.

And it might even be easier to sell that ship than a book nobody wants...

The Vegas Art Guy said...

It looks like people are starting to wake up to the notion that they got snookered, and when they do the democrats and progressives are going to be in big trouble. Too bad Cramer didn't point out the part the democrats played in bringing down Fannie Mae and Freddie Mac...

Anonymous said...

God help us... Hope this isn't true...

US Gives China Eminent
Domain Over US Property
Beyond High Treason
A. True Ott, PhD, ND

Let's connect some dots today, boys and girls to learn about the HIGHEST POSSIBLE TREASON that has happened in this country.


Dot #1 China begins its covert war on the FREE American republic in the 1950's by taking over much of the PHARMACEUTICAL DRUG manufacturing for American and British Big Pharma. This is an outgrowth of the Rothschild's OPIUM RING PROCESSING by the British West Indies company during the 1800's, and is brokered by the "City of London " and Washington D.C.

Dot #2 Arch-illuminist and satanist Henry Kissinger "normalizes" trade relations with China during the Nixon years.

Dot #3 Eventual LDS (Mormon) Church President Gordon B. Hinckley, via the church-owned Polynesian Cultural Center in Hawaii , establishes a "hard currency" pipeline with Bejing, exchanging bank "trade credits" for CIA/BRITISH MI6 DRUG SERVICES RENDERED into hard GOLD AND SILVER while hiding behind the cloak of "World Religion". This is facilitated via the LDS-Church built and controlled "Shenzhen Special Economic Zone" adjacent to Hong Kong . When Hinckley is made LDS President, his first "official" visit as "World Prophet" is to China , where the Chinese Communist leaders give him a hero's welcome and a confetti parade. (See attached paper --- "Pensees of a Puzzled Pilgrim" pp 5-6 and Desert News, June 1, 1996 article: "President Hinckley Visits China").

Dot #4 Arkansas natives Bill Clinton and Sam Walton massively increase contracts with China 's factories over 2,000%. This results in a tremendous imbalance of trade with China . Thanks to the Mormon "Special Economic Zone" -- China 's communist leaders begin amassing incredible "real" wealth in gold and silver.

Dot #5 China purchases TRILLIONS of dollars worth of U.S. Treasury Bills and Bonds, paying for it with gold and silver provided by the Shenzhen Economic Zone exchanges. Much of the U.S. "national debt" is purchased from the private "Federal Reserve" banks in this manner.

Dot #6 Dr. Jeff Taubenberger of the U.S. Institute of Pathology in Ft. Dedrick MD, (The world headquarters for biologic weapons development) successfully maps the genome of the 1918 killer "flu" virus responsible for the 1918 "pandemic" that killed millions.
The worst killer virus ever to plague mankind is now ready to be used as a covert "weapon" disguised as a natural "influenza" mutations.

Dot #6 July, 2005: The Illuminati-conrolled United Nations announces that the world is long over-due for an "influenza pandemic". The H5N1 "Avian Flu" is wrongfully demonized as a COVER.

Dot #7 December 2005: The Chinese Defense Minister, Chi Haotiaon delivers a speech to the Chinese military leaders outlining the inevitable "expansion" of China into Canada , the U.S. , and Australia -- He justifies this because of Chinese racial "superiority" and thus "emminent domain". To accomplish this, American would first have to be "Cleansed" by means of a powerful "biological weapon" --- causing 150 -200 MILLION AMERICAN DEATHS!!! The plan would be enacted AFTER the symbolic OLYMPIC GAMES beginning at the sacred day of 8-08-08 are concluded. China begins buying oil and gas futures, spiking the worldwide prices to historic levels.

Dot #8 March 13, 2008: A secret meeting is conducted for the U.S. House and Senate. Agents of the Club of Rome give a preview of upcoming events to elected officials who first swear an oath of secrecy. The traitors are briefed that the economy will begin its collapse in October, 2008 -- and will TOTALLY collapse in mid 2009. As events unfold in 2009-2010, Congress was told of the real possibily of massive civil unrest and even Civil War being waged. Detention camps constructed to imprison civil 'agitators'. See http://www.afterdowningstreet.org/node/34877
for the complete meeting agenda.

Dot #9 In September, 2008 -- as soon as the Olympics are concluded, China stops buying oil and gas futures while dumping U.S. Treasury bills and bonds. Gasoline prices plummet, while the U.S. mortgage loan money becomes tightly constricted. The Club of Rome's agenda is being implemented perfectly.

Dot #10 In October, just as explained in March, the economy indeed begins its collapse with mortgage banks going bankrupt as the Chinese dump their U.S. Securities. This causes a world-wide "rush to liquidity" as money supplies DRASTICALLY tighten.

Dot #11 Billions of worthless U.S. Government "bailout" debit entries are given to bolster failing U.S. Banks. These are "worthless" because China now controls most of the U.S. "REAL" wealth in the form of gold and silver. China refuses to continue investing credit loans to the U.S. Treasury.

Dot #12 Barack Hussein Obama is elected, promising "Change you can believe in." After taking office in January, Obama sends Hillary Clinton on a critical mission to China and helps write H.R. 45 -- a complete grab of America 's guns ala Adolph Hitler. State leaders who understand what Clinton and Obama agenda with China is about, are seeking legal "Sovereignty" to prevent the loss of property to a foreign power.

Dot #13 China agrees to continue investing in U.S. Treasury Bills only after securing the right of "eminent domain" to physically repossess foreclosed American PRIVATE PROPERTY. This move is the equivalent of an unconditional surrender following a bloody war.
This also gives the Chinese military the LEGAL RIGHT to use biological weaponry to "Clean up America all at once". It gives them the legal right to use deadly force in removing trespassing Americans from occupying Chinese real estate.

Connect these 13 evil dots, and this is what you get:


BEIJING, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continued purchase of US Treasury Notes and existing US Currency reserves.

The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China .

This means that in the event the US Government defaults on its financial obligations to China , the Communist Government of China would be permitted to physically take -- inside the USA -- land, buildings, factories, perhaps even entire cities - to satisfy the financial obligations of the US government.

Put simply, the feds have now actually mortgaged the physical land and property of all citizens and businesses in the United States . They have given to a foreign power, their Constitutional power to "take" all of our property, as actual collateral for continued Chinese funding of US deficit spending and the continued carrying of US national debt.

This is an unimaginable betrayal of every man, woman and child in the USA . An outrage worthy of violent overthrow.

-------------- UPDATE 1:40 pm EST

Eminent Domain is the power of government to TAKE private property for public use without the consent of the property owner. Under our Constitution, the government can only "take" when providing "just compensation" for what they've taken.

Who decides what constitutes "just compensation?" The government!

Homeowners who felt the government was not paying them enough for property in past "takings" have filed lawsuits. In absolutely every such case, the value placed upon the property by the government was upheld by the courts.

Our federal government has now granted to China , this power to "take"our homes and businesses in the event the US Gov't defaults on its debts. Let's play this out as a worst case scenario. . . .

The US Gov't goes belly-up and China comes in and says, "they owed us $2 Trillion in Treasury Notes and another $2 Trillion in actual cash money which is now worthless. We are taking the entire state of Hawaii and the entire state of California in lieu of this bad debt. "

With the stroke of a Chinese chop stick, Hawaii and California -- all the land and buildings in those states -- are now owned by China .

The "taking" would be a "valid public use" because it was "taken" in payment of the public debt!!!!

China could then turn around and declare the value of all that land to be worth. . . . . I dunno, ten cents on a dollar?

For your $200,000 house, you get a Chinese check for $20,000.

Needless to say, the property owners would go ballistic and demand "just compensation" for what was taken. Who gets to decide what is "just?" China ! Don't think you got a fair price for what they took? No problem, sue China .

You'll lose.

People who live in those states and own their land outright, might be able to negotiate with China to "rent" back their own property, as long as the property owner continued to pay all his taxes; but the land and buildings would belong to China .

This is what our own Government has just done to us and it is the single most vile act of betrayal in the history of human existence.

------------- SECOND UPDATE 3:48 PM

In early February nine U.S. States began the process of re- asserting their Sovereignty pursuant to the Ninth and Tenth Amendments to the US Constitution; declaring null and void any actions by Congress that violated the Constitution.

The states took action to make certain the feds couldn't give away cities or the states themselves!

This situation is going to get VERY ugly, VERY fast as one sovereign power (the feds) try to literally give away the land of other sovereign powers, (the states). This is the type of thing that starts Civil War.

Our present federal government makes the treachery and betrayal of Benedict Arnold look like child's play.

China Speaks (pdf)

READ THIS I attached it.

Daniel Chapter 11 vs 21, I think this is where we are in modern day times and I think China is represented here as the Ships of Chitam.

21And in his estate shall stand up a vile person, to whom they shall not give the honour of the kingdom: but he shall come in peaceably, and obtain the kingdom by flatteries.
22And with the arms of a flood shall they be overflown from before him, and shall be broken; yea, also the prince of the covenant.
23And after the league made with him he shall work deceitfully: for he shall come up, and shall become strong with a small people.
24He shall enter peaceably even upon the fattest places of the province; and he shall do that which his fathers have not done, nor his fathers' fathers; he shall scatter among them the prey, and spoil, and riches: yea, and he shall forecast his devices against the strong holds, even for a time.
25And he shall stir up his power and his courage against the king of the south with a great army; and the king of the south shall be stirred up to battle with a very great and mighty army; but he shall not stand: for they shall forecast devices against him.
26Yea, they that feed of the portion of his meat shall destroy him, and his army shall overflow: and many shall fall down slain.
27And both of these kings' hearts shall be to do mischief, and they shall speak lies at one table; but it shall not prosper: for yet the end shall be at the time appointed.
28Then shall he return into his land with great riches; and his heart shall be against the holy covenant; and he shall do exploits, and return to his own land.
29At the time appointed he shall return, and come toward the south; but it shall not be as the former, or as the latter.
30For the ships of Chittim shall come against him: therefore he shall be grieved, and return, and have indignation against the holy covenant: so shall he do; he shall even return, and have intelligence with them that forsake the holy covenant.
31And arms shall stand on his part, and they shall pollute the sanctuary of strength, and shall take away the daily sacrifice, and they shall place the abomination that maketh desolate.
32And such as do wickedly against the covenant shall he corrupt by flatteries: but the people that do know their God shall be strong, and do exploits.
33And they that understand among the people shall instruct many: yet they shall fall by the sword, and by flame, by captivity, and by spoil, many days.
34Now when they shall fall, they shall be holpen with a little help: but many shall cleave to them with flatteries.
35And some of them of understanding shall fall, to try them, and to purge, and to make them white, even to the time of the end: because it is yet for a time appointed.
36And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods, and shall prosper till the indignation be accomplished: for that that is determined shall be done.
37Neither shall he regard the God of his fathers, nor the desire of women, nor regard any god: for he shall magnify himself above all.
38But in his estate shall he honour the God of forces: and a god whom his fathers knew not shall he honour with gold, and silver, and with precious stones, and pleasant things.
39Thus shall he do in the most strong holds with a strange god, whom he shall acknowledge and increase with glory: and he shall cause them to rule over many, and shall divide the land for gain.
40And at the time of the end shall the king of the south push at him: and the king of the north shall come against him like a whirlwind, with chariots, and with horsemen, and with many ships; and he shall enter into the countries, and shall overflow and pass over.
41He shall enter also into the glorious land, and many countries shall be overthrown: but these shall escape out of his hand, even Edom , and Moab , and the chief of the children of Ammon.
42He shall stretch forth his hand also upon the countries: and the land of Egypt shall not escape.
43But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt : and the Libyans and the Ethiopians shall be at his steps.
44But tidings out of the east and out of the north shall trouble him: therefore he shall go forth with great fury to destroy, and utterly to make away many.
45And he shall plant the tabernacles of his palace between the seas in the glorious holy mountain; yet he shall come to his end, and none shall help him.

Some good reading....