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Jim Cramer is a sort of New York financial media fixture. He’s fast talking, extremely political, a bit full of himself, and often slightly hysterical. Generally he seems to know what he’s talking about, but I’ve seen some serious players in the market label his pearls of wisdom as senseless blather. And I don’t know many people would call him a “detached observer.” Still, Cramer has a solid audience and plenty of people find him informative and entertaining.
On August 2 he was on the air at his most hysterical, concerned about a meltdown in the fringe mortgage market. He aggressively advocated a Fed bailout for the financial institutions exposed in the collapsing market.
Here’s an iTulip.com YouTube that takes Cramer’s rant and patiently dissects it, giving a different view. I have no particular dog in the hunt here—for instance, on the issue of whether the Fed should “open the window” on the discount rate–but this does strike me as a very effective use of the YouTube medium. In the last two years, YouTube has made a difference in the Internet–decidedly for the better.
More from Scott Horton:
Conversation — August 5, 2016, 12:08 pm
Sidney Blumenthal on the origins of the Republican Party, the fallout from Clinton’s emails, and his new biography of Abraham Lincoln
Conversation — March 30, 2016, 3:44 pm
Joseph Hickman discusses his new book, The Burn Pits, which tells the story of thousands of U.S. soldiers who, after returning from Iraq and Afghanistan, have developed rare cancers and respiratory diseases.
Years ago, I lived in Montana, a land of purple sunsets, clear streams, and snowflakes the size of silver dollars drifting through the cold air. There were no speed limits and you could legally drive drunk. My small apartment in Missoula had little privacy. In order to write, I rented an off-season fishing cabin on Rock Creek, a one-room place with a bed and a bureau. I lacked the budget for a desk. My idea was to remove a sliding door from a closet in my apartment and place it over a couple of hastily cobbled-together sawhorses.
Amount by which a typical good-looking U.S. worker will out-earn a typical ugly one over a lifetime:
A Japanese inventor unveiled a new invisibility cloak that uses a material made of thousands of tiny beads called “retro-reflectum.”
A couple at a Cracker Barrel restaurant in Greenville, South Carolina, left their waitress a note telling her “the woman’s place is in the home,” in lieu of a tip.
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"She never thanked me, never looked at me—melted away into the miserable night, in the strangest manner I ever saw. I have seen many strange things, but not one that has left a deeper impression on my memory than the dull impassive way in which that worn-out heap of misery took that piece of money, and was lost."