Wednesday, September 19, 2007

Jim Cramer's Flip Flop of the Century

This is really just too hard to believe.

At 7:10 on Fed decision day CNBC's Jim Cramer have an interview and said a 50 point Fed rate cut would "be catstrophic" and signal "things are much worse than they have lead us to believe" See the full interview here

Then, after the 50 point cut later that day Cramer was on CNBC the same day acting like a 17 year old virgin in a whore house with a suitcase of cash. Watch this video here. To quote him “This is what we wanted". "It is good, these guys get it", he continued.

What? What is it Jim? "Catastrophic? or "just want we wanted" or did we want a catastrophe?

He has lost all credibility after this one. He has been famous before for his flip flops and has been called out on them but was alway able to explain it away by saying "things have changed since then". The question now has to be, what the hell changed this time in the 7 hours between this interview, the Fed action and your exuberant "Stop Trading" segment? Answer? Nothing.........

We just cannot take him serious anymore as person we should listen to for advice. As a freakishly spastic TV persona that my kids laugh at he has value, but as someone who's advice we should heed, not anymore...

This is the problem when you stop trying to be an honest analyst and enter into the entertaining character mode, you cross the line from saying what you may really believe into doing stunts for ratings like his famous "they know nothing" rant about the Fed.

PS Jim, We were laughing at you, not with you on that one. I give it 6 months before he is on the next "WWF Smackdown"with Vince McMahon, the only difference between the two is their topics covered.

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