A couple of posts down, I railed about Jim Cramer. He's a demonstrated douche bag whose incompetence and own lust for money has cost other people in enormous ways..
Today.. that douche bag has the gall to say one single word about Barack Obama? This is because Jim Cramer is a scum bag that needs some personal time with people who have lost tremendous amounts of money because of him..
I would also point out that all of the douche bags on Faux News have done the same thing.. as they've pointed and laughed at other economists who have seen all of this coming.. and now rail about "Socialism".
But there is no justice in this world.. none.. and the only thing we can hope for is that they've lost all of their own money following their own advice.. but somehow I doubt it. Barring that, praying to Gorak that they all catch a nasty case of a fatal disease might work.
Related to the economic situation, Sullivan points out some interesting stats;
Lombard Street Research now argues that the US market has only been cheaper for 26 months in the last 140 years. Those months occurred in 1920-21, 1932, 1942 and 1982. Two of those periods reflect the effect of world wars. Of the others, one was the great depression and the other the aftermath of the inflationary 1970s.
I think there's a lot of us that have lost about 30% of the value of our retirement accounts, but have cash that we can use to buy in again at a low point and try and mitigate some of those losses.. then if/when the market stabilizes, get back to the gradual growth in value of those accounts that you'd expect. The question is, even if stocks are cheap right now, it feels to me like the bottom hasn't completely fallen out yet. I think we have to wait and see what happens with some big banks, and see which of the auto makers fail, if any.
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