I'm sure I'm not the first blogger to use that headline, and for good reason. I like the guy, seems like he'd be fun to hang out with at a party, but is he really one of the brightest beams of light we should look to when it comes to investments? And his grasp on politics and the power of the presidency seems outta whack, too. Today's column, "Cramer: No Rally Until Obama Steps Up":“With the right push from the president of the United States, virtually all the negatives we're fretting about today could partially be fixed,” said Cramer. “The president has enough firepower to blast aside the obstacles standing in the way of higher stock prices ... and a stronger economy. We just don't know if he has the will or the inclination.”How does Cramer suggest the president fix this whole mess?
1. Convince American people it's a good time to buy a house now (by giving a speech or something)
2. Keep taxes low (i.e. extend Bush tax cuts for the top 2%)
3. "compromise" on fossil fuel/ "endorse" natural gas
4. Clean out economic team (except Geithner)
5. "Announce" that private industry is not the enemy
6. Ask business what they need to start hiring, and give it to them. He says "Would it hurt to ask?"
Wow. So, by fooling the American people into buying a house, extending tax cuts for the wealthiest 2%, going whole hog on unsustainable resources, emptying the economic team of people in the know, giving lip-service to businessmen, and eventually just ask business what they want and give it to them. Simple as that really!