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Know your enemy
The Jim Cramer Story
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Why is this scam artist still on TV?
You gotta love this.
In the first segment, Jim Cramer preaches free enterprise and paints a ridiculously rosy picture of stock trading for amateurs.
In the second segment, he instructs hedge funds on the fine points of how to scam the public by creating false signals in the market.
You'll know the bear market is over for real when this guy and CNBC are off the air.
Not just his show, but the entire network - gone.
People are going to lose so much money in the next leg down and become so disgusted with scam artists like Kramer, they'll leave the market for decades just as their grandparents did from the '30s to the mid-'60s.
Fallacies in Kramer's BS arguments:
1. What normal person had $10,000 in cash to buy and hold Merck stock in the 1950s? That was more than the average annual salary for a professional.
2. The stock market would have eliminated the possibility of Karl Marx and communism?
Stock and commodity trading has been going on since the 1600s. There is nothing new about it - including Jim Kramer's self-serving line of carnival barker bullshit. It's always been an insider's game and one that nonprofessionals enter at their peril.
If you understand that these are the forces you're up up against - nonstop media and market manipulation by people with massive resources behind them - then have at it.
But realize, stock and futures trading is a blood sport and in the eyes of people like Jim Cramer, it's your financial blood that keeps their machinery greased.
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