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The Demands For Another Fed Bailout Have Begun
Back in August 2007, just as the quant funds had their first taste of what the upcoming collapse would look like and when the Fed for the first time realized that the subprime woes were "not contained" despite what Ben Bernanke had promised previously to Congress, financial comedy TV's best known mascot, Jim Cramer had a meltdown on CNBC following Bear Stearns' CFO admission that the fixed-income market turmoil was the worst in 22 years, ranting how the Fed "knows nothing" and how it should promptly bail out the financial system.
Little did Bear Stearns know that less than 9 months later it would no longer exist, but not before the same Jim Cramer proclaimed Bear Stearns was "fine" and is not in trouble when it was trading at $62/share. A week later the company was insolvent and was handed to JPM for a forced take-out at $2/share.
Fast forward 8 years when we just witnessed the biggest weekly market rout in 4 years and largest VIX surge in history, and when - like clockwork - the financial "experts" come crawling out demanding, you guessed it, another Fed bailout.
Here is Suze Orman, self-described as "America's Most Trusted Personal Finance Expert" who, hilariously enough, in a Twitter conversation with none other than financial comedy's prime mascot made it quite clear how she feels about the market rout:
I am taking this year off but it is hard to sit silently and watch these markets. Fed Chair Yellen help us out. Commit to no rate increases
— Suze Orman (@SuzeOrmanShow) August 21, 2015
Cramer's prompt response was essentially a rerun of 2007:
.@SuzeOrmanShow Could not be more right. Silence the Fed heads who say all is good. IMF is dead right! https://t.co/f1BV7JfSyr
— Jim Cramer (@jimcramer) August 21, 2015
The "trusted expert" chimes in, demanding someone do something to crush the selling which "did not need to happen" - after all only buying is allowed under central planning.
@jimcramer Jim do something. This is so crazy. This did not need to happen. I know run for President.
— Suze Orman (@SuzeOrmanShow) August 21, 2015
The punchline, as usual, belongs to Cramer:
Everyone should be following my good friend @SuzeOrmanShow as she is the most commonsensical individual in finance.
— Jim Cramer (@jimcramer) August 21, 2015
So let's get this straight: when the Fed-manipulated market keeps levitating ever higher, even as the Fed itself admits QE has failed to help the economy, America's "most trusted personal finance expert" is delighted.
But once we have even a modest stock correction - arguably because stocks are no longer allowed to drop... ever - the same expert comes out demanding a bailout, because you see it was beyond her "expert" skills to prepare America for tthe inconceivable contingency of a market drop. And just in case her message is lost on someone, Cramer defines this same "expert" as the most commonsensical individual in finance.
Is it any wonder that with "personal finance experts" such as these, that the personal finances of America have never been worse?
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we have caitlyn and assorted fags
Is there such a thing as the boy who cried "one more Fed bail out", and when we got it, it was a dud.
And the PBS angle...
Oh, what will we do without Orman and Cramer? How about collect your rainwater and plant potatoes? What is real, my friends? This is what you need to ask yourself.
Potatoes are the original 'store of value'. Even before the Garden of Eden.
Cramer is just another KIKE that plants information to lead the goy astray for the benefit of the other KIKES that control wall street and own/run the FED for their benefit.
Deez Nuts will end their control and END THE FED
VOTE DEEZ NUTZ 2016!
Help us out?......you mean like as in destorying peoples purchasing power or gifting the fckwit scum bankers with endless thin-air cu?rency....
stupid bitch
I used to read Playboy for the pictures, now I read Zero Hedge for the comments.
Nice. A twitter circle jerk-off.
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No thanks
I have no clue who Suze Orman is because I dont watch TV.
And if everyone else didnt, Ole Suze would just be another self worshipping dumb ass that nobody ever wanted to know.
The Media created Suze Orman and the TVtards keep her in a job doing nothing but talking shit.
Even a broken clock is right, twice a day.
She gives advice like pay your debts, dont borrow too much or live within your means, save all you can, and you'll soon be debt free. Interesting shows, but none of her advice means much because the old paradigms arent going to work in the coming hyperinflation. She'll be just like all the others with no physical hard assets held outside the banking system-- wiped out and broke, not knowing what hit her because it happened so fast.
Everyone should know that shit anyway. If dad and mom didn't teach you than the bill collectors did.
I'm sure there aren't any kids watching her and if you are an adult listening to her to tell you to pay your bills and live within your means, then it's too late for you anyway.
Suze said more than that. She suggested investing into mutual funds, municipal bonds if I remember correctly, among others. The call in part of the show was essentially advice as you stated, Suze would asses rather sternly when it came to extravagances. But, I remember a woman called in to see if she could substantiate a 3,000 trip back to a far away country to retrive her cat which had disappeared on the day of her departure back to US and showed up some time later. Suze said no. There are things that are worth a short fall and perhaps a parttime job later can make up for the overindulgence. The call in show "Can I Afford It" also included the upper crust callers who had very good incomes and one wondered "really?" as to why a 20,000 Rolex was an issue when the couple had a total worth of 10 million dollars, no debt and good health.
Suze invested in property in Johannesburg, S. Africa. She is quite wealthy and I am sure the tribe will protect her.
A lying Zionist jew Cunt on TV telling people what to do with their money?
Well probe my Bunghole and call me Obama....Color me shocked!!!!
who the fuck is suze orman?
She is a snake oil salesman with a degree in Social Studies who gives financial advice to the lowest social strata.
snake oil... is that what she rubs on her skin?
she looks lezzy and not the good kind
Cramer should be in jail for his role in 2008
I prefer we get the opportunity to guillotine him
Cramer should be in jail for using his connections to Maria B to pump and dump mister softie while he was running his hedge fund.
Cramer loves the Fed and their bailouts, it's the only thing that keeps him in business. . .loud obnoxious Jew, which is typical in the northeast.
5% on a measly $1,000,000 is $50,000 which is enough to live on. Instead the banksters stole the money.
Is she as good at advice as Andrew Ross Sorkinstein or Joe Kernanberg?
Bail-outs, Bail-ins, ZIRP and NIRP are only to protect "Just Us" from catastrophic losses.
Hey Suzie!
I was just wondering if I could afford to buy the fucking dip. I make $50,000 per year. I have $20k in credit card debt and I am underwater in my home. Can I afford to buy Shake Shack at $45 per share? I'm retiring next year and have $32,000 in my 401k.
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rent your home out to some pot growers, for a cut of the profits, keep your name on the utilities. if the rent doesnt pay the mortgage you can write it off your taxes. move into the cheapest apt you can find. or live with someone else, get a room. pull the 32K from your 401K theres not enough there to retire a homeless person, and the government counts that against you for various aid packages. go to the casno and put down the 32K as a marker, draw it out in chips then walk over to the next window and cash them in so it looks like you lost the money. buy gold with it physical, no paper trail, using an assumed name. consolidate the CC debt, or you an kite the interest by taking all the new balance transfer offers you get in the mail. apply for everything you can get from the government, housing, food stamps, SSI. be sure and get SSI, i know a doctor who can set you up with temporary blindness. you want to get to the point where all your bills are paid, and you have a nice stash of gold under your mattress. learn a little bit about medicine, since you are state supported they will give you all the expensive tests they want, but they dont necessarily give you good medical care. you have to figure that out for yourself, but so does everyone on medicare. its basically smorgasbord. if youre making 50k you aint retiring, until they drag you out of there feet first. now agree if they offer you a consulting job. be sure and mention all your work stress injuries to your doctor, and to them. they will want to keep you around. Shake Shack is what, the next Starbucks, go to work there as a greeter, tell them no pay, just some stock. live long and prosper
I think what Susie Q. and Jimmy Boy are saying to the Fed...let's throw some more "Mad Money" at the problem....
I called in to that mad money show one time last year. I was going to ask if I should sell or hold my Bear Stearns but of course they have a delay and cut me off. I was Dave from San Francisco with a pronounced lisp. Cramer got a chubby
Junkies
Jim Cramer's advice...buy on the dip on Monday...I can trust him ...right?...he is going to tell me when the top is in...right?..he has my back covered? right...there are two forks in this road...be careful...
Wanna know how to invest to make money? Pick up a few books from the financial department of the book store, three or four from Suze and you will conclude “some Americans will believe anything.” And that pertains not only to Suze’s advice, but her bio.
How subtly Americans are corrupted by the money lenders, who flatter them, cajole them, loan them money and then neutralize them.
Suze Orman Is Having a Moment | The New York Times Magazine
By SUSAN DOMINUS MAY 14, 2009
Excerpt (2009):
“Orman began her career as a stockbroker in 1980 and then started her own financial-planning firm in 1987. She went into serious debt after she had a professional meltdown, a crisis of confidence that she suffered, she has written, after she was sabotaged by a former assistant. “I had $60,000 on my Amex alone,” she told me. She estimates that she had yet another $60,000 to $70,000 in additional credit-card debt, had mortgaged her small home to the hilt and was driving a leased BMW that required upward of $600 in monthly payments. She dipped into her 401(k), an action she currently deems a financial cardinal sin, to pay for a $7,500 Cartier Panther watch, which she wore to impress a wealthy woman she was dating at the time. …
“Orman is now wealthy enough to support (presumably with great humility) her 94-year-old mother in Florida in grand style, but until she was close to 30, she usually had only just enough to get by. Her father, who raised his family on the South Side of Chicago, ran a takeout-chicken stand, bringing in far less income than most of the parents of the kids in Orman’s mostly Jewish, upper-middle-class crowd.
“At 29, when Orman was working as a waitress in Berkeley, Calif., a group of regulars raised $50,000 for her to open a restaurant, a dream she had confessed to one or two of them. On the advice of a stockbroker from Merrill Lynch, she invested the money, and she promptly watched it evaporate. Convinced that if her lousy stockbroker could get a job at Merrill Lynch, she could, too, she talked her way into a job there…’”
Uh-huh.
http://www.nytimes.com/2009/05/17/magazine/17orman-t.html
More bailouts make for UN-natural economies and UN-natural markets which, in turn, require MORE bailouts.
This is so ironic that it is her job to sit on her high horse and tell people to be responsible with their money. Apparently that lecturing does not apply to the highest financial institution in the land!
Some say the end is near.
Some say we'll see armegeddon soon.
I certainly hope we will.
I sure could use a vacation from this.
Stupid shit.