Cramer’s an idiot. But we knew that.
Unfortunately, the financial media seems to be focusing on very short term things.
The article linked says that there is a 17% increase in housing starts compared to last month. It fails to state that it was down 45.2% from May 2008. That is NOT good news.
It’s like all the focus on the 2nd derivitive… the economic indicators are contracting at a slower rate… They’re still contracting but if you listen to CNBC, Bloomberg, etc crowing aobut it you’d think we had growth rather than contraction.
Cramer’s one of the leading idiots… but there are plenty of idiots following behind him.
