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Too good not to share
Monday, July 30, 2007
Courtesy of twist at Housing Doom comes this YouTube clip of Jim Cramer and his "plowing under" prognostication for San Bernardino and Riverside County real estate.
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3 comments:
I like Cramer. Despite the widespread negative comments about him, his macro calls are actually pretty good. I used to listen to him on Bloomberg Radio, and he made a very good market bottom call in late 2002.
He's now come around to the reality of the housing market, which I don't find controversial. What I do find controversial is his statement, which he is repeating over and over, that all the Fed has to do is cut rates by 1% and it will solve the entire problem.
yes i dont get the 'if the fed lowers rates all the subprime can refi'. if banks have stopped offering liar loans than how will people that initially lied about their income get a new loan?? if you have zero equity how can you refi?
cramer made a strange comment the other day on his show about how he refused to short stocks? this is the guy that supposedly is/was involved with naked shorting nfi for years - also overstock.com
weird.
hilarious! i like the very end "you're someone who invests a lot in real estate " - "no, I've sold all my real estate"
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