iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Cramer: ‘This is Not 2008’

If you’re thinking we will soon be entreated to a 2008, once every 100 years decline — you’re wrong. While the bubble is frothy and filled with air, there are none of the signs of meltdown now like there was in 2008. Cramer is making some obvious points here.

CNBC’s Jim Cramer says Wall Street should not assume a recession is on the horizon.

This time around, he argues, it’s not concern over consumer confidence, credit or derivatives that’s causing markets to fall.

Cramer cites former Fed Janet Yellen who said the yield curve inversion as a recession indicator appears different this time.

Remember what 2008 was all about. Absolute homeless people buying $800,000 homes with HELOCs attached, getting BTFO when Greenspan hiked rates. Had Greenie kept rates low, that homeless dude’s house would’ve been worth $1.5m today. Instead, Joe Blow from the sanitation department bought it.

Housing is the biggest risk to the system. Everything else can be handled and dealt with.

Markets jumped off at the open and are now melting the fuck down. This is typical and customary after large decline.

My best guess is for flush out if we go negative, followed by a bounce. Let’s see how it plays.

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3 comments

  1. potato

    Cary housing market cooling

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  2. ferd

    Massive malinvestment due to years of not-market low rates and a hollowed out industrial base …combined with massive wealth inequality and debt from wars, both cold and hot, which have won us nothing but new enemies are far bigger than the friggin housing crisis.

    CNBCtard.

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  3. gsofield

    Markets keep catching a bid on dips because of the cleanest dirty shirt analogy…the World will keep dumping money in US markets because they know the Fed will rescue them. It is not data dependent, it’s market dependent and they have sent the message they will do whatever it takes to keep the balloon in the air – not to mention they have Trump’s boot on their throat and he has their balls in his pocket. BUY, BUY, BUY

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