CNBC’s Jim Cramer: Obama’s "radical agenda" is "the greatest wealth destruction I’ve seen by a president"


Slowly but surely, people are starting to wake up. Cramer is a Democrat, but he eats and drinks and lives and breathes the American economy and, I don’t care what side of the political spectrum you find yourself on, success is success and failure is failure. What we’re seeing now is failure, plain and simple.

This only reinforces the idea that, as we see more and more the realities of the fiscal policies put forth by Barack Obama and the Democrats, the GOP must be ready to communicate effectively with recently awakened and disillusioned Democrat voters. Now, that doesn’t mean that the GOP should continue presenting itself as Democrat Party-light — in fact, we need to ensure that the tenets of fiscal conservatism remain the focus and that the do not waver on those ideals.

Regardless of the ideological perspective of those who have been watching Washington, from the outside looking in, during the beginning stages of this new administration, congressional Republicans have established themselves as fiscally conservative to the point of being considered obstructionist by the political left. Considering the failings of many of the same Republicans during the latter half of George W. Bush’s second term, such a characterization should not only be welcome, but admirable. Let’s harness it, and make sure that those on the left and in the center who find themselves at odds with the plans for the country and economy advanced by the Democrats know about it.

Americans who want to get ahead practice fiscal conservatism in their own lives, probably without knowing it. The GOP’s message must be clear: We are the party of the free market, of small government, of personal responsibility, employer protection and pro-growth policies. Only with a steadfast approach to spreading the message as to the merits of conservatism can we counteract and countermand the policies being proposed and those proposing them.

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  1. Anonymous says:

    “. . .[T]he GOP must be ready to communicate effectively with recently awakened and disillusioned Democrat voters. Now, that doesn’t mean that the GOP should continue presenting itself as Democrat Party-light — in fact, we need to ensure that the tenets of fiscal conservatism remain the focus and that the do not waver on those ideals.”

    Yes! I’ve been saying that all along. Such a large number of those who voted for Obama were “soft” supporters. Like Cramer, perhaps, they will be able to sit back and look anew at what their man is actually doing. Then again, if they watch Cramer or any news at all (much less look at their 401k statement), they already have.

    JV

  2. goddessdivine says:

    Obama’s radical agenda is the greatest wealth destruction….

    Everyone seems to get that but Obama himself.

  3. Gail B says:

    The problem with “tax and spend” is that, with so many people out of work and the incentive to earn is crushed for those who are working, there’s not enough left for people to pay in taxes. THEN what’s the government going to do? Hold a yard sale?

  4. Anonymous says:

    Jeff:

    Amen to that! But why is it that many times when I see the Republican “leaders” being talking heads, I want to scream at the TV after they have finished? They DO NOT SAY WHAT NEEDS TO BE SAID!

    They are whimpy, restrained, castrated!

    They could take a lesson from Glenn Beck, Rush Limbaugh, and Sean Hannity.

    We need the character strength of the Founding Fathers!

    Let’s kick out all the career politicians and send some farmers, small-business owners, doctors, and community bankers to Washington! Better yet, some stay at home Moms!! WE KNOW HOW TO MULTI-TASK AND GET THINGS DONE!

  5. Anonymous says:

    Jim Cramer stated that we won’t have the 30% unemployment that took place in the Great Depression.

    Since the Great Depression, the government has radically changed the way they figure unemployment figures. To be included in the official unemployment rate, you must have held a full time job and your job loss is not recorded until your severance pay runs out and you file for unemployment. If you are a part-timer or self employed, your loss is not counted.

    The government has also changed the way GDP is figured. Now it includes purchases on credit. Credit cards did not exist during the Great Depression. They were introduced in the 1950′s. So today, when the government states GDP, every exchange for goods and services is recorded even though some of that will not be repaid. The credit bubbles have been keeping the GDP sky high, but artificially high. Now that the government isn’t inflating the economy with induced credit, GDP is going to be much lower. And even that figure will be a fraction of 1930 standards.

    It would be interesting to refigure this downturn in 1930 terms. Modern government terms work as a prism to paint a psychologically positive view. When 2008 figures look bad, you know it’s really bad.

  6. Dr.Earl says:

    Who is that woman and why is she being consulted…an obvious, token, illiterate voice from the left, deviod of anything resembling reason.

  7. sharon says:

    Well, good news. your first two pieces stated an article from ABC, and the today show? remotely against Obama? We are slowly but surely moving in the right direction. That is good news.

  8. Anonymous says:

    Anonymouse @ March 3, 2009 9:37 PM

    You are soooo right.

    I don’t remember who said it, but I coming to agreement: Odds are 500 names randomly chosen from the phone book would produce better leaders than what we have.

  9. Hal says:

    I have a relative who is ultra liberal. He adores Jim Cramer, and watches him religiously. He’s raved about how smart he is and has followed his advice on many things. It must be just grating at him to hear him put so much blame on Obama for the current mess on Wall Street.

  10. BIG BIRD says:

    535 random names from my K-12 school would produce FAR better leaders.

  11. CASTING COUCH says:

    That woman should be in acting. She has the look of a Law & Order DA anyway. She clearly is in the tank for the shirtless Obama.

  12. Anonymous says:

    And to think 6 months ago he was pulling for Obama saying “Obama equals recession, McCain equals Depression”.

  13. Lilly says:

    “Let’s kick out all the career politicians and send some farmers, small-business owners, doctors, and community bankers to Washington! Better yet, some stay at home Moms!! WE KNOW HOW TO MULTI-TASK AND GET THINGS DONE!”

    How true!

  14. Anonymous says:

    Cramer needs to check his numbers. On inauguration day (1/20/09), the Dow (DJIA) closed at 7949. Yesterday (3/3/09), the Dow closed at 6726, a drop of 1223 points or 15.4%. Lets take a look at the period from 10/1/08 to 10/10/08 when the financial crisis hit (and I might add, before the election, much less the inauguration). During that period, the market tanked from 10831 to 8451, a drop of 2380 points or 22.0%. Ahh but you might say that I picked the the period at the onset of the financial crisis. So let’s look at the entire Bush presidency. On 1/21/2000, the DJIA closed at 11252 and as I have already mentioned, it was at 7949 when he left office. That is a drop of 3303 points, or 29.4%. So Cramer’s comment is just wrong.

  15. DUH says:

    Obambam was the clear winner very early in the campaign cycle, THATS when it started tanking. The market is very observant in a forward way.

  16. Ian Thorpe says:

    The UK’s Labour Party usually manages to shaft our economy as they have done again this time. but they take a full term in government to do it.

    No Labour government has ever flushed the nation down the pan within a month of taking office.

    That in itself is quite an achievement.

  17. CAL says:

    If there is one good thing that comes from the Obama presidency, it will be a renewed GOP focused on fiscal conservatism. It is too bad it takes losing to figure this out, but as long as it is learned, I will be happy. It is refreshing seeing democrats like Jim Cramer talk about the failed policies of Obama. Wondered who he voted for. Do not know why guys like him are democrats to begin with.

  18. CAL says:

    Just heard today that Jim Cramer was an Obama supporter during the election. Please explain to me how someone as smart as Cramer could vote someone into office who obviously has no understanding of economics and especially the stock market.

  19. NOW THATS HOT says:

    Dr. Earl said “Who is that woman and why is she being consulted?”.

    Google her name Erin Burnett and check out her bikini pics, thats why.

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