Jim Cramer Goes Bananas on CNBC
Jim Cramer is passionate about the market. He's passionate about the economy. And now he is extra passionate about the housing market in the USA, which is currently in the process of falling apart.
Cramer went on CNBC and unleashed a tirade. Now, Cramer has a history of unleashing some pretty excitable tirades on the public, but this one took the cake. I must say that with Cramer's recent tirades against the Fed and against the US housing market, I'm a little afraid that his head is going to explode one of these days.
Cramer's position is that Ben Bernanke doesn't have his finger on the pulse of the housing and stock market, and is not lowering interest rates because the raw data doesn't support a drop. He is saying that if Bernanke had his eye on what is going on in the "streets", that he would have dropped rates already. Cramer says that in order to undo some of the damage being done in the fixed income market right now, interest rates have to be lowered.Overall, this has to do with the subprime mortgage market collapsing, and the reverberations that this will have for the housing market and economy as a whole. I have to say that I agree with Cramer in this instance, as the entire situation is extremely worrying to me as well.
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