The subject line was a quote by the MSNBC Fraud Squad’s court jester Jim Cramer back in March of 2007.
At the time, Sears was trading at $134.75 per share.
Yesterday, Sears declared bankruptcy and guru wannabe Cramer said, “Capitalism getting rid of Sears is good.” (Sears is trading at $0.28 per share).
It’s truly mind-boggling how people still watch (let alone believe) the financial news and thinks it’s legit.
It’s even more amazing that a guy like Cramer gets paid big bucks for his circus act that’s horribly wrong most of the time.
In January of 2008, he’s on record saying “Don’t sell Bear,” referring to Bear Stearns…one month later they went bankrupt. Then in September 2008 he famously stated that “Lehman is safe.” Within weeks Lehman went bankrupt.
Or how about September 2017 when he said, “Bitcoin may hit $1,000,000; Act now before it’s too late.”
Most financial advisors would be sued for telling their customers stories like the ones MSNBC gets away with. And the customers would win the lawsuits.
So, how does a major financial news network get away with it?
They’re owned by the boyz in the Wall Street “Club.” And they do and say what their overlords tell them to do.
Do you believe their charades? Or are you getting sick of them?
They aren’t going to change their methods as long as people continue to listen to them. But you do have the option of changing the channel.
Check out the channel where you get behind the scenes information that the gurus and wannabe gurus don’t’ want you to see.