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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.
Chances that an American knows the position of his or her senators on health-care reform:
Climate experts proposed creating a fleet of cloud-seeding yachts that will pump water vapor into the atmosphere to thicken global cloud cover, thereby reflecting more sunlight, in order to counteract the effects of global warming.
In San Antonio, a 150-pound pet tortoise knocked over a lamp, igniting a mattress fire that spread to a neighbor’s home.
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"It is an interesting and somewhat macabre parlor game to play at a large gathering of one’s acquaintances: to speculate who in a showdown would go Nazi. By now, I think I know. I have gone through the experience many times—in Germany, in Austria, and in France. I have come to know the types: the born Nazis, the Nazis whom democracy itself has created, the certain-to-be fellow-travelers. And I also know those who never, under any conceivable circumstances, would become Nazis."