Tuesday, December 15, 2009

Jim Cramer: Whiny Beeetch

From Jim Cramer appearing on Meet the Press:
"The CEOs I talk to, they’re hiring. They’re hiring in Brazil, they’re hiring in Russia, China. Why are they hiring in those countries? Because it’s steady, we know what to get from the government. It’s a rather — it’s rather quizzical that we know what the Communists will give us but we don’t know what the capitalists will give us."

From Jim Bianco (another Wall Street investor) via Big Picture blog:
"Let us get this straight, in corrupt and Communist countries companies are hiring. They have transparency … that the government can nationalize your company whenever they want and execute you if you complain. Here we are paralyzed because we don’t know whether our tax rate will be 40% or 42% next year"

TW: The sentiment expressed by Cramer is not unique. Wall Street and conventional American business folks are the whiniest bunch of bitches of all-time. Last summer and fall, you may recall Cramer on TV literally pounding the table demanding government intervention. Now that Armageddon (apparently) is averted, he is leading the charge back to laissez-faire. Meanwhile, heaven forbid the wealthy go back to 2000 tax rates or face any regulations to prevent the next crisis.

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