Cramer is an Idiot

Cramer was just on CNBC ranting about how the markets had failed. Erin Burnett the idiot was just lapping it all up. The massive unwind in energy has him all excited. $10 down in a day in crude is a very very big move. His takeaway? The Government should control it. Uh-huh. As if the whole problem wasn’t already that the government is controlling markets. Cramer may want to wake up to the fact that it is the Fed keeping real rates at -2% while the economy has been growing 3% that might have had a tad to do with the runup in energy p[rices, spurred on by events in MENA. Markets do overshoot. But when they do, they correct, like today. In fact it was largely the utterances of a single guy in Europe that started the avalanche of selling today. Jean-Claude Trichet failed to indicate further tightening by the European Central Bank and the EUR crumbled. This triggered a whole cycle of margin calls as DUE TO THE IMPOSITION OF THE CENTRAL BANKS INTO THE MARKETS everything is tied to movements in the dollar and the thoughts and utterances of a very few individuals like central bank chairmen.

So before we go squawking about how MORE government intervention is necessary, why don’t we try removing government intervention first so that the utterances of single individuals do not have such massive influences and then see how things play out.

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