Money mavin Jim Kramer of CNBC's Mad Money skewer's President Obama's economic policies. Kramer says, I just want some sign that Obama realizes the market is totally falling apart and that his agenda has a big hand in that happening....A young kid took me aside. He said I was right when I said we've elected a Leninist.
Here's Kramer again appearing with TodayShow's Matt Lauer and Erin Burnett of CNBC. Erin tries to put a positive spin and a happy face on a market headed for a deep dive. This is the greatest wealth destruction I've seen by a President, says Kramer.
Meanwhile, White House Press Secretary Robert Gibbs tries his level best to defend the amateur hour spend-thrift policies of the administration. The only thing Gibbs can come up with in responding to Kramer's criticism is to make a lame comment about the size of Kramer's audience and try to pin the blame on Bush. The little audience Mr. Gibbs refers to when talking about Jim Kramer's show, are investment fund managers and bond traders. They're the guys who tune in to shows like Mad Money to get a glimpse on what the word is on the street from a guy who made millions as a Wall Street trader! Gee, I guess we wouldn't want to listen to a guy like that would we Mr. Gibbs! We should belief in the pie-in-the-sky economic policies currently coming out of the Democrat controlled Congress and the White House. While the administration plays politics with the economy, and tries to pin the blame on Wall Street for the subprime lending mess that accelerated the market slide, the real culprits in this fiasco, Congress along with Fannie Mae and Freddie Mac, get a free pass.