Sunday, January 20, 2008
Cramer
Thoughts on Cramer's comments on CNBC on Friday, which I have no reason to doubt.
He said if the Bush Administration and Paulson and Bernecke can pull off the bail-out which would avoid the municipal bond crisis looming with the impending failure of mortgage insurers, the Dow will go up 2000 points. If it cannot the Dow will fall 2000 points.
Note how this problem is a municipal bond issue!
Over the weekend two of my friends report they have gotten out of the market, one for Asia and the other into cash totally.
It seems to me this is very rational.
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