How much I wish it were true right now that stocksplayed less of a role in peoples' lives. But stocks, along with housing, are our principal forms of wealth in this country. Only the people who have lifetime tenure, insured solid pensions and rent homes but own no stocks personally are unaffected. Sure that's a lot of people, but believe me, they aspire to have homes and portfolios. If we only want to help those who have no wealth to destroy, we are not helping the majority of Americans; we are not helping the broader population.
8.3.09
Cramer's mad yet again
Jim Cramer posted a reply to The Obama Administration calling him out after his up-temper ranting regarding their systemic destruction of wealth in this country. Cramer, the host of CNBC's "Mad Money" is a money genius, and is a committed Democrat. Interesting what he had to say:
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