Cramer’s Remorse, II: “Obama Is a Bearish Macro Fundamental”
Is it wrong to get warm fuzzies from the notion that a lifelong Democrat and major financial contributor to the party is outright saying that President Obama is a walking reason to sell stocks?
Today Cramer is pronouncing that Obama is:
“…suggesting programs that will take away as many jobs as they create, reduce consumer buying power and make it so your utility bill goes up.”
Not that this is anything we didn’t know already. Nor was this:
“Forget the credit-card issuers; they are now considered war criminals in Washington, I guess.”
Although this comment earned him a sharp rebuke in the comments section to keep his “obviously Republican” politics to himself. Anyway, after more bemoaning of financial pay limits, we reach today’s money quote:
“When will they understand that we are in a recession, a serious one, and it isn’t the time to push for card check, carbon banning and higher pay for government unions?”
I don’t think Cramer quite yet grips the fact that Obama was speaking from the heart back a few months ago when he said he didn’t care about the market. Even if he convinced the president to stop saying so quite so directly, that doesn’t change who the president is, and what he believes, and that it won’t make him NOT the radicalized kid from Chicago who grew up listening to the Bill Ayers and Jeremiah Wrights of this world.
But it’s a long four years. Let’s give him time.