I was not at all surprised by today’s 777 point drop in the Dow today.  What I am surprised about, however, is that Jim Cramer still manages to brainwash his viewers into thinking he has a clue.  There are countless examples of Cramer’s ignorance, but the two videos below pretty much sum up his lunacy.  In the first clip, he is kissing up to Ron Paul for his brilliance as the only one in congress that understands the financial issues.  In the second clip he is justifying the bailout, the same bailout that Ron Paul is vehemently opposed to.


The bear market and correction we are facing was a long time in coming.  We have been living on borrowed time in this phantom credit and over leveraged economy for far to long.  The market drops we are witnessing are a direct result of the credit crunch and the de-leveraging it is forcing on the economy, and there will be more blood on the streets to come.  Regardless of whether an amended substantial bailout  is passed, the path of least resistance is DOWN.

Jim Cramer praising Ron Paul for his views on letting the market self correct:

 

Jim Cramer justifying the $700 billion bailout of the financial markets: