Jim Cramer of MSNBC Predicts a Great Depression

[deacon blues]

Jim Cramer says that if the government doesn't come through with the bailout package in the next 5-10 days, the banking industry will fail. Better start withdrawing your cash!!!!!!!!!!!

[AmazingGrace]

Even if it is a possibility... who ever believes MSNBC?!?!?! ROFL!

[Pressing-On]

If we jump the gun and pull out our money, the banks will certainly fail. I don't feel alarmed.

All eyes are focused on McCain.

[SDG]

Originally Posted by Pressing-On

If we jump the gun and pull out our money, the banks will certainly fail. I don't feel alarmed.

All eyes are focused on McCain.

The One.

[U376977]

Will 700 B be enough?

2008-09-23 — ml-implode.com


"If defaults remain at roughly $20bb per month in CA and $50bb nationally and this new $700bb bailout is suppose to clean up banks past troubles, what is left for the potential $1tt in current defaults coming over the next two years? This plan is being debated today in Washington as if mortgage and housing crisis was over and they are trying to clean up the aftermath. I am sure many there really think this is about the real estate market."


Really does not matter if they do pass the "bail out."

[OP_Carl]

Originally Posted by deacon blues

Jim Cramer says that if the government doesn't come through with the bailout package in the next 5-10 days, the banking industry will fail. Better start withdrawing your cash!!!!!!!!!!!

So what you are saying is finally, NOW is the time for panic! Right?



Let's make Jim Cramer a reknowned prophet now!

McCain (cough, cough) was warning us about this YEARS ago. As was Ron Paul. Alan Greenspan, earlier still.

People can make as much of this crisis as they want to. If everybody runs out and fills up their tanks with gas tonight, sure enough the filling stations won't have any tomorrow! Is that a shortage, or a PANIC?

Same deal with bank runs.

I guess lemmings and sheep get what they deserve in the end . . . in the strictly secular sense, of course.

[RandyWayne]

Solution in 2 parts:

1) Cut the capital gains by at LEAST half

2) Start immediate and aggressive domestic oil exploration and drilling

Simplistic? Not at all.

Oh yes, you would also need to remove the legislation written in the 90's that DEMANDED that financial institutions write a certain % of "bad loans" in the name of affirmative action (the laws that started this whole mess in the first place!).

[OP_Carl]

Originally Posted by RandyWayne

Solution in 2 parts:

1) Cut the capital gains by at LEAST half

2) Start immediate and aggressive domestic oil exploration and drilling

Simplistic? Not at all.

Oh yes, you would also need to remove the legislation written in the 90's that DEMANDED that financial institutions write a certain % of "bad loans" in the name of affirmative action (the laws that started this whole mess in the first place!).

You are correct in everything but the numbers.

Number 1 should be the end of Fannie Mae and Freddie Mac as quasi-government enterprises. Sell them to private industry and remove the treasury guarantee, or eliminate shareholders and competitive executive pay. Pass a constitutional amendment banning business schemes that privatize profits and nationally socialize losses.

Somewhere in there ought to be jail sentences for those that lobbied on behalf of F&F, those that blocked needed reforms in committee in 2005, and those that habitually accepted money from them and protected them.

[RandyWayne]

Originally Posted by OP_Carl

You are correct in everything but the numbers.

Number 1 should be the end of Fannie Mae and Freddie Mac as quasi-government enterprises. Sell them to private industry and remove the treasury guarantee, or eliminate shareholders and competitive executive pay. Pass a constitutional amendment banning business schemes that privatize profits and nationally socialize losses.

Somewhere in there ought to be jail sentences for those that lobbied on behalf of F&F, those that blocked needed reforms in committee in 2005, and those that habitually accepted money from them and protected them.

I agree (in addition to my two points).

[OP_Carl]

Originally Posted by RandyWayne

I agree (in addition to my two points).

You're such an agreeable fellow; that's why we love you!