[Video] Stock Broker (Jim Crammer) Totally Flips Out On MSNBC

He wants Bernacke to bail out mortgage brokers who sheistered 7 million people into terrible loans they knew the consequences of? He wants Bernacke to drop rates so all the greedy SOBs who thought the bubble would never burst (stupidly) and spent the crap out of every red cent of equity they had won't feel the sting of their greed?

Gimme a break. We're where we are because of troglodytes like Cramer. He knows nothing except how to pump and whine when the pumping blows a gasket.

 

HAHAHAH
"HE HAS NO IDEA!"
this is the guy from mad money, keyword MAD.
another crammer/krammer freaks out

 

This is the worst I've seen him..... ..... .....

 

I hope they do drop the rate even if only an 1/8th. Any drop will help keep the talk down because all of this Realestate dumps, stock market dumps, slump, depression talk is going to stick if everyone doesn't shut up..

I'm not so greedy to ask that everyone else goes broke so I can get rich. Forgive and let them live in a house that is more than they can afford for a few more years(maybe then they can afford it )

I think the fed reserve meeting is on the 7th correct??

We shall see...

 

I wouldn't count on a rate decrease; low rates artificially inflated real estate values by making high prices so affordable. The fed knows this quite well, and they also know that the first thing to do once you find yourself stuck in a hole is to stop digging.

Real estate prices have become absolutely ridiculous, making it all but impossible for anyone without a home purchased pre-2003 to buy anything. When a couple making $150,000/year in Southern California can't afford anything aside from a 900 sq/ft dump in the heart of Pomona's worst ghetto, something screwey is going on. Rate stabilization will allow the RE bubble to burst and re-align itself with reality.

Always remember the rule that trumps even the golden rule: Pigs Get Slaughtered.

 

I've never been able to stand that guy. Guess he should cash out some of his stocks from time to time so he doesn't lose so big. That chick should have slapped him.

On a positive take, does that chick make anyone else feel all warm inside? She's smokin' hot!

 

I agree 100%..........but its "Pigs get fat.............................hogs get slaughtered"

 

Financial porn... Testing the New federal reserve chairman like a child tests boundaries. The true issue is that the mortgage industry went out of control, i mean the entire mortgage industry, homebuilders, construction, bankers, lenders, insurers, real estate agensts, home improvement businesses and anything related to your home and its purchase made a sh...t ton of money over the past 7 years at the expense of the consumer. I MEAN A SH......T LOAD. Somewhere way high in the BILLIONS. Whether they were being honest or not, they screwed the consumer to the max to make profits. The only motive was profit, no prudence was taken by the industry and the consumer took what was offerred. Remember, 'everyone qualifies.' The same BS loans that the industry created to fuel their profits are now coming back on them and destroying their profit margins and their companies. It is bad out there but, here is the quagmire, if the federal reserve chooses to soften the blow to the economy (and mortgage companies) by lowering or adjusting rates, the federal reserve has just caved into the pressure and influence of private industry (which in reality, created this death sentence on there own and purely for profits). The Federal would be out of policy to act in order to save an industry that inflicted its own wounds. On the other hand, if the Fed sticks to fiscal policy or monetary policy (as it is supposed to do) it has sent out the message to the business community that it will operate its policy on economic fundamentals (which in my opinion is a better message). It is the old adage, who is the PIMP and who is the HO. Right now, no one is dressed so you can't tell, but be patient and you will see......

 

no matter who is right or wrong, if you bought a house you couldnt or barely could afford you got absolutly nobody but yourself to blame! You stretched yourself way too thin and now its time to pay the price, sadly. Live and learn.

 

Say what you will about his rhetoric- you gotta love the passion this guy has. I can only wish I have the much energy and zest for what I do on a daily basis at my age(30) or his age 62.

 

Don't confuse panic-induced-hysteria with "energy and zest". That's like saying an adrenaline-fueled man running from a wild pack of dogs should be appreciated for his speed.

 

I have a moron here that bought a house with one of those loans back about two years ago. The dummy actually has it at 10% right now!!! But he was deployed last year so his rate while deployed is not 6%. Funny thing is he will basically have to stay deployed to keep from loosing the house before he can sell it!

 

Its not just low rates that cause the RE inflation, basically it was foreign investment particularly oil money from the ME where price was no object particularly in Cali and S Nevada I know of, they have since moved on to other investments after plummaging and inflating our market driving regular earners out of affordable homebuying

 

I love Cramer, he is real passionate about what he is doing. He sure looks mentally unstable some times LOL

 

Don't mention money, It's taboo...

 

The ME has nothing to do with our RE situation - GREED by US Home Builders/Developers ("build! build! build! Everyone needs a Mansion!"), the Mortgage Industry ("Free money for Everyone - I make a commission whether you can actually afford your house or not!"), Real Estate agents ("Buy! Buy! Buy! I earn a commission whether you default on your loan or not!"), loan processors ("I can fudge the truth on your application so you get the loan! I still earn commission whether you go into forclosure or not!"), and US Banks ("We don't regulate anymore - that's somebody else's job!") caused this. Only when Serviced-Debt became a popular 'investment Commodity' for large Financial institutions (who bought heavily) did this become so widespread to affect the whole US economy.

 

That did effect it as well but here I know many in commercial RE that had persian or arab investors that had a money is no object attitude that have driven prices up so much nothing pencils out or even close, they also invested heavily in residential RE, all these factors led to the situation we are in now

 

Gotta love him!

 

Investment, and blaming far-away Arabs with lots of oil money might be 'convenient', I highly doubt they're the primary reason real estate prices went up to spark the boom. And if I'm wrong, so what? Even if Arab finances caused a rise in real estate pricing, they and their money didn't 'burst' the bubble - millions of bad/fraudulent Mortgage loans (now being defaulted-on in record numbers), a failing US economy, stagnant wages in the private sector, a shrinking middle class, lack of loan oversight, commissioned sales in the RE industry.....homegrown US G-R-E-E-D. There's your story.

 

I think the sub-prime should tank and those fools that profited off the notes. I don't want to bail out the lenders or the people that couldn't afford the homes. RE needs a correction as it's over valued in most areas. I'm tried of being fiscally conservative and having to pay for the mistakes of others......

Raise the rate

 

The truth has never come across so easily!

Thank you.

 

Greenspan/Feds knew exactly what they were doing throwing all this liquidity into the market by keeping interest rates artificially low. Everyone was using their homes as a bank account so they could go out and spend. Anyway, the strategy was bound to come back and bite. Now Bernacke and Co. are afraid to lower rates because it will scare off foreign investors. It'll take a lot more pain until they begin to drop rates. By then it may be too late and we may be into a full blown recession. Don't worry though, the Fed's will tell you everything is great The rape and pillage will continue and the consumer will suffer and pay for it.