People like Crammer and MSNBC are the main people behind this fall out. They were asleep at the switch and don't know if they did it on purpose or not why their jewish carpet baggers got rich on the backs of us poor 401k sheep. Tell it like it is Crammer, these folks at MSNBC make seven figure salarys and try rpt try to fool the folks like they are just like the poor slobs on main street. Give us a break.

Here's what amazes me that our government doesnt seem to get.

The American consumer accounts for 70% of all purchases in America.

Credit does not create jobs.
Manufacturing does not create jobs
Banks do not create jobs.

A consumer wanting something that they can't make for themselves creates jobs.

So how are we fixing our economy by sending our jobs offshore ?

You might want to read my article titled "FIre Secretary Paulson" to see what he is doing to help fix the American economy.

Virgil
http://www.KeepAmericaAtWork.com

It is easy to blame everyone but what we really need is to take responsibility and all of us change . Alcoholics Anonymous and Costco offer some internesting models .


The impact of the economy in recent weeks has witnessed a disturbing reaction: Denial and Disbelief. Auto Company and banking executives who are in crises mode seem arrogant and unwilling to recognize long term issues and even consider dramatic alternatives. I have been in several meetings with entrepreneurial companies who seem to be waiting for their 10% to 30% sales declines, credit restrictions and profit erosion to simply return to the good old days. Individuals out of work are pursuing the same old tactics and not recognizing the realities of their situations and industries .The government is responding quickly with new proposals every day. However the efforts seem to be out of panic, unplanned and with little thought of the consequences.

There are some bright efforts of organizations recognizing realities and reacting:

• Many banks and the FDIC are trying to renegotiate some mortgages to keep them viable rather than face foreclosures and even greater losses for all parties.
• Some businesses are liquidating which should make other competitors stronger.
• There is great hope for the Obama administration and he seems to be appointing excellent, experienced, and motivated people regardless of ones politics. One major concern is that the hope may subside once the depth of problems and timing of solutions is really understood.
• There is a double edge sword of consumers reducing spending but further impairing the economy.
• Some of the factors which created the economic crises such as cheap mortgages, increased spending and debt, and risky credit instruments are being reduced and modified.

However, it is clear that denial and disbelief are the dominant themes with much less real change than necessary. I recommend that institutions, organizations and individuals consider the philosophies of two proven but diverse programs in dealing with the economic crises. The first is the AA model. It preaches to recognize the problem and acknowledge publicly that we are in crises. It preaches to attack the problem both at the roots and one day at a time.

The second model is Costco. They sell the key items people really want with the lowest possible cost structure. The American economy has depended on growth from the continued proliferation of mostly mediocre products. Many companies’ sales will decline 10 % to 30 % from 2008 to 2010. They simply need to focus on what is most needed, most profitable and most competitively unique. Grocery stores, make up, apparel automobiles, and electronics are examples of categories with almost obscene proliferation that need to recognize the costs and saturation of their markets. Some specific ideas that derive from these models are as follows:

1. Acknowledge the economy is different and plan for 10 %-30 % decline on sales, housing values, retirement funds etc. for 1-3 years.
2. Consider targeting the three E’s: energy, education and the environment for dramatic investment. The Obama stimulous plan may be a start in this area .
3. Slash unproductive, duplicative, unprofitable models, products, and services.
4. Reduce costs, prices and expenditures 10% to 30% by assessing everything and in particular the structures of how we do things.
5. Retain the best people, resources etc. and allow them to be more productive, included and innovative through better communication, collaboration, out of the box thinking and openness.
6. Recognize the speed of change and the need to act appropriately.
7. Expand efforts to spin off entities and out source activities to focus on core areas and achieve the best and most cost effective results.
8. Trade pay cuts for incentives such as performance bonuses and stock options. This acknowledging that executive compensation is abusrd .
9. Consider acquisitions , mergers and even bankruptcy to create more productive organizations
10. Predictable trends such as aging of the population, the internet, China, India, etc need to part of every program.

Okay Jim,

If you are right and the root cause of all the problems is the decline in housing values, how do you fix it? How do you get somebody to pay more than they think the property is worth? Slowing forcloseures so that there are fewer forced sales? Doing that now. What else is there to be done?

Nick,

"Jewish carpet-baggers"? Really now, this is a civilized site.

The Fed is not the solution; it is the problem. Stealing America's wealth since 1913.

Com on CRAMER! They chnaged the credit qualifications. MOST Americans that we NEED to buy are at the bottom of the pyramid. We need them to buy the starter homes os the rest can move up.

HOW ARE WE GOING TO GET THE CREDIT TO THEM? They do not have 600+ FICO Scores! HELLOOO all you !@#$ that make ridicuolus salaries!

How are we going to get the credit to the 1099 workers and small business who have had their crdit scores hammered over the last year?

DUHHHHHHHHHHH!!!!!!

SURE its allways the other guy NEVER you an boy george! OBAMA will fix it though he don't sit on his hands!and watch HE ALLREADY STARTED!

yay, jimmy! accountability rules the day...so when are we going to get an apology out of you for prompting us to buy stocks at record highs just hours before the big decline began a couple months ago? how about you, jimmy? done nothing wrong...lately?

David Rockefeller and the globalist oil banking elite. CEO, chairman Chase Bank, HON. chairman for life Council on Foreign Relations, Trilateral Commision, Bilderburger, had Cheney as a director at CFR, and Obama's chief foreign policy advisor who co-founded the Trilateral Commision. These boys invented the CIA out of the OSS which ran right out of their building in NYC and had Dulles as their lawyer. NAFTA, WTO, all these phony "free trade" agreements, fraud wars, and the outsourcing of our real economy to Communist China for cheap slave labor. JP Morgan and John D. Rockefeller figured a long time ago if you control energy and the money you have them by the balls and their heirs do. Globalist power freaks and JP Morgan Chase took out their competition with Goldman Sachs, is the biggest player in M&A in Chindia, the 1,200 trillion derivatives market, and seized control of the US Treasury. Simple, follow the money to the winners. Back to Hollywood Insider!

I lost 90% of my retirement savings listening to this 'expert'. take a hike off a short bridge and don't come back.

Cramer is right. What is so sad is that I saw on Fox News people buying homes on interest only. They would sell one and make 50 grand off of it and would buy 10 more. This is a Gov. created Ponzi game. Everybody said how good Allen Greenspan was keeping interest rates extremely low. He was a dud. The signs were there, but nobody paid attention to them. Folks we are really in bad bad bad shape.

The culprits for the economic meltdown?
Alan Greenspan,Ben Bernanke, Bernie Franks, Chris Dodd, Chuck Shumer, Chris Cox, Fannie Mae, Freddy Mac and all of the banking and mortgage committees. Everybody was asleep at the wheel.
Wall Street and their engineered products, like CDO's, SIV's and CDS's,packaged toxic junk and sold it like it was gold. It turned out that those "SMART BOYS OF WALL STREET" were nothing more but a bunch of clowns.

So, JIMBO, we are going to stop real estate erosion and that will make everyone a believer again. It will convince people, banks, businesses, that house they bought that is now worth, 30 or 40 per cent less than what they bought it for, will now gain it all back and eventually, like the DOW, be worth even more than what they paid for it. What, are you hanging out with Rush now? Popping the Vicodans?

Cramer is not a good source to give serious attention to especially when he talks about the economy. He's not even very good as a so-called market expert. May of his calls are wrong or at best are after the fact. He is just entertainment much the same as the stooge called SHEMP.

The number 1 reason for this recession is the high oil prices over the passed few years. Think about it. How has high gas, food, electric and heating costs affected you, every home owner and every business.
Now that oil has come down the economy will start to get better. It will take time for the economy to turn around. Oil prices MUST stay down.
we need new sources of energy. We need to stop being dependent on foreign oil.