04.05.09
Cramer: the Depression is over
Yep, Cramer has declared the depression over.
What Cramer is saying is that the only consideration in determining the economic health of the nation as a whole should be stock market prices. This is an interesting perspective. Clearly a great many investors feel this way. That is why the administration has been putting so much effort into boosting investor confidence. The media, locked into worship of the market as a be-all and end-all, has responded by declaring that the depression is over and it’s back to normal for the country. It takes the pressure off announcements of continuing job losses, foreclosures, corporate corruption and looting, etc.
The administration “fixed” the stock market to get the media off their backs.
The stock market “creates wealth”? I thought that was the problem with investment in this country, money from nothing creating bubbles.
Bill Moyers did a show about the real problem, which is nowhere near being addressed: corporate fraud.
Finally, the full-length video IOUSA.
