Jim Cramer has a "Market Meltdown" on Youtube

Over the past year, I have been growing increasingly concerned about the abuse of leverage in our economy this cycle, especially as the economy has been slowing, profits compressing and the housing market melting. Up until recently it seemed like I was a bit of a lone wolf in main stream media appearances, as anchors and hosts would say that I was rather dark or that “no one else seems to be worried about these things.”
Actually lots of other people have been concerned, but most of them have either kept to themselves about it, or else they are not asked to comment on main
stream venues that are widely viewed by the general public. As Galbraith would say, the wise in these matters often remain very quiet so that the fools have the field all to themselves.
In any event, one of the guys that was really bullish up until recent weeks was the Mad Money king himself, Jim Cramer. I remember Cramer at the peak of the tech bubble when he had just started hosting Kudlow and Cramer in 2000, and he was supremely bullish through that time too, while world markets tanked in unison.
Last week Jim “lost his nut” on CNBC, in an off the charts rant that was considered “postal” even for the mad man of market mania. I think it is important to watch this rant: see Market Meltdown.

Regular people need to understand the ego and risk that Jim and his ilk court. Apparently he is now very worried by the state of world credit markets and their ripple effects for risk assets.
I find it amazing that Jim and Co think that the Federal Reserve should rush in and save their bacon now just because rampant risk and hubris have now turned on their “masters”.
By the way. Jim's clip is now on Youtube. And I have to say, for anyone who has not yet discovered Youtube, I urge you to do so. As I was trying to show my technology adverse dad the other night, it is really a whole new world. For a bit of fun with your family, take turns punching in your favourite song titles, or lyrics and enjoy music videos on demand.

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