Roubini: "Cramer is a Buffoon"

[deminks]

http://news.yahoo.com/s/ap/20090408/ap_en_ot/canada_roubini_cramer

TORONTO – CNBC's Jim Cramer has another feud on his hands.

Just weeks after "The Daily Show" host Jon Stewart took Cramer to task for trying to turn finance reporting into a "game," famous bear economist Nouriel Roubini criticized Cramer on Tuesday for predicting bull markets.

"Cramer is a buffoon," said Roubini, a New York University economics professor often called Dr. Doom. "He was one of those who called six times in a row for this bear market rally to be a bull market rally and he got it wrong. And after all this mess and Jon Stewart he should just shut up because he has no shame."

Cramer recently wrote in a blog that Roubini is "intoxicated" with his own "prescience and vision" and said Roubini should realize that things are better since the stock market's recent bottom in early March.

(end snip)

I tend to prefer the economic theory from "Being There" - namely, 'All will be well in the garden.' Makes as much sense.

[notesdev]

1. Cramer is a criminal

who admitted to fraud on camera, as exposed by Jon Stewart.

Yet he walks free.

Good luck on that confidence-building program, Mr. Turbo.

[Kolesar]

2. Can you explain that part of the interview?

The excerpt that Jon Stewart surprised Cramer with. It confused me. :crazy:

[notesdev]

4. It was Cramer admitting to felonies

Racketeering, creating rumors to move the market, and such. It's a pretty damning confession, and it speaks loudly to the arrogance of the bubble era that Cramer allowed himself to be videotaped while saying such things.

[Kolesar]

5. The Wall Street Journal was established because it was common for people to create rumors ...

... to destroy companies in the 19th century. That created an opportunity for the plotters to move in and buy the companies on the cheap after ruining the owners. We needed a transparent press to put these plotters in check.

My, how far we have come :sarcasm:

[TomClash]

3. Two points in Jim Cramer's defense

First, a few years ago he was screaming about the Greenspan/Bernanke rise in interest rates when everyone else was silent - that help to start the great unraveling. Second, the pot shouldn't call the kettle black - Roubini has called bear markets when there wasn't one in sight.

[TexasObserver]

6. If Cramer LITERALLY talked out his ass, it would be an improvement.