RUSH: Jim Cramer, the once brave and courageous Mad Money host at CNBC, has caved. Jim Cramer, after saying that President Obama was conducting ‘the greatest wealth destruction by a president’ in history, in his lifetime, as you know went on Comedy Central to a show there and had his lunch handed to him, supposedly. And now Jim Cramer has decided he’d rather be loved by the left than tell the truth. Jim Cramer has lost his courage. Here are some sound bites to illustrate from his Mad Money show last night.
CRAMER: Obama heeded the critics, even some from his own party. He’s seen the light! Obama changed, or at least his message did. He seems to have realized that he was heading down a path that was causing the great wealth destruction, so he changed course. Obama realized the market’s power and importance. He grasped the fact that many people actually own stocks and even those who don’t are affected by the markets that they have pensions, annuities, or life insurance policies which sure as heck are not in CDs. Yeah! A very quick study, the president figured it out. His team got the message, and we’ve been hearing pro-business noises from him ever since.
RUSH: In the midst of destroying AIG, in the midst of taxing bonuses that are contractually obligated. Here is more Jim Cramer saying that Obama’s light years ahead of Bush.
CRAMER: It’s clear the man is light years ahead of his predecessor. No matter how much we yelled, no matter how much the experts and the public criticize what was going on, Bush and Paulson never once changed direction. Never. Obama’s team is different, and their positive pro-business attitude has now changed the way we feel about the market!
RUSH: (snorts) This is such a cave. This is a 100% collapse by Jim Cramer, who obviously felt the pressure from somebody to get back on the liberal team here. Here’s another one.
CRAMER: We got a president who can change his mind, one who recognized that our 401(k)s and annuities are filled with stocks, an asset class that had its worst decade in history, and frankly we just — we can’t take it anymore. With his constructive attitude toward Main Street nest eggs, he created a brighter prism through which we interpret data —
RUSH: This is unbelievable.
CRAMER: — that would be most certainly have been viewed negatively, or even ignored before.
RUSH: This is unbelievable.
CRAMER: Now, the change in tone could not be more important.
RUSH: This is a hostage video! They had to have Jim Cramer hostage last night on his own show, because let’s listen to this March 3rd, 16 days ago.
CRAMER: We have an agenda in this country now that I would regard as being a radical agenda. I think that we had a budget that came out that basically put a level of fear in this country that I’ve not seen ever in my life, and I think that that changed everything.
LAUER: So the — the policies are not shareholder friendly?
CRAMER: Shareholder friendly? God, this is the most wealth destruction I’ve seen by a president.
RUSH: That’s just 16 days ago, Jim Cramer, but it’s a hostage situation, obviously. Stockholm Syndrome has taken over. Jim Cramer now with his mind right. We’ll take a brief time-out. Sit tight. Back after this. Don’t go away.
RUSH: A question for Jim Cramer. Jim, you say Obama’s done a turnaround, everything’s cool, go out and buy stocks. Yet the Fed said yesterday they’re going to pump an extra $1 trillion into the economy because the recession continues to weaken. So what was all the talk out of Obama and Summers that we’re supposed to buy stocks? Did they know that this development was coming, $1 trillion printed by the Fed because the recession is deepening?