Jim Cramer is an Obama supporter and, indeed, advocates almost all of the President's agenda for America, but he writes nevertheless that Obama's economic plans are an unmitigated disaster. Cramer is the host of CNBC's financial show Mad Money, and argues that Obama's policies are destroying the retirements and life savings of millions of Americans. In Cramer's view, now is the worst possible time to try to implement Obama's economic agenda of higher taxes and massive spending and borrowing. Here's Cramer talking about his disillusionment on his show:
President Obama got elected because he had a lot of support from an obsequious media during the primaries and presidential campaign. The media rarely held the candidate's feet to the fire and scarcely asked questions which could embarrass him. He will continue to enjoy support from the mid to far left, but a lot of other MSM reporters and pundits are themselves heavily invested in the stock market. As they see the value of their own investments evaporate I suspect many of them are going to become increasingly antagonistic toward this administration and may well begin to ask those hard questions.
One they could start with is what ever happened to Timothy Geithner, the indispensable man we had to have as Secretary of the Treasury no matter how much of a tax cheat he is? Geithner was supposed to have a plan to get us out of this mess, but he seems to have fallen off the face of the earth. Is anybody in the administration working on this problem? Does anyone there really care about the stock market?
Thanks to Hot Air for the video link.
RLC