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Facebook's IPO Debacle, Day 3: Un-Friended and Dis-Liked on Wall…Jim Cramer is the probably the most crazy and rational man on CNBC, and Ron Paul holds a similar position in politics.
Last night on CNBC's Mad Money, the two spent seven minutes trashing the Federal Reserve. Regardless of whether you think they're right, they're certainly bringing up a topic that hasn't gotten the attention it deserves.
I recently wrote about the popularity of the YouTube videos featuring Congressman Paul trashing the Fed, and the Cramer/Paul rant is likely to become an instant classic in that category.
CNBC recently posted a transcript of the discussion (not really an interview so much), and here are a couple of Cramer's best points:
"Now, you have been, I think, spot on in saying that the Federal Reserve created the stock bubble with low margin rates and it created the housing bubble with low mortgage rates, yet I never hear about anyone talking about investigating the Fed in Congress. It's a creature of Congress. Why don't we do it?"
"I think you are changing the debate .... I always feel like I'm out there by myself criticizing this institution that everybody thinks is like a holy temple, when the reality is these are just men and women like you and me except for they're making policy with no checks and balances. I wish you the best of luck, sir, with your campaign. You are changing things with what you're saying."
Is Cramer, who professes to be a Democrat, going to endorse Congressman Paul? It sure sounded like he was during the interview.
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Reader Comments (Page 2 of 2)
12-17-2007 @ 6:11AM
mickrussom said...
The reason Ron Paul is so popular, is that he is popular with a Majority of people.
The other reason he is so popular with the Majority, is he is 'unpopular' with the minority that is polled.
He is also a threat to the military industrial complex and its propaganda wing, the main stream media, and the people are standing up to say, we are ready for Ron Paul, the constitution and real change.