I thought maybe he’d put up a more moderate retraction today- but no…

I just put up today’s clarification- he says he’s dead serious about walking away.

I’m speechless….

Now that I’ve heard it, I’m worried about the “recovery” from hell.

is this the same Cramer who called

Panic Over Option ARMS Is Just Noise

Everyone who uses a Option ARM is an idiot and will lose his house when rates go higher. There. There’s a constant theme in the drumbeat of the press that the housing market is the Achilles heel of the economy.

What a joke. OK, so 12% of borrowers have taken out these unique loans that allow you to call your own shots, up from 8% a year ago. You get to have a teaser low rate that is much below what you would have without it.

Sorry, that’s just stupid. I am sure some of the borrowers are speculative, but you know what? Funny thing. The borrowers are not morons. They can read the papers, too. They recognize that homes aren’t selling

I would bet that most of these borrowers are simply younger people with new jobs who are correctly taking advantage of a low rate. People who have taken this rate have been very right. The long end hasn’t gone up. It seems like it won’t go up now. So while they build up some savings with the low rate, they get stronger down the road and then can take the higher rate.

The media call it dangerous. I call it prudence. !

Houses could then start going UP in value again, homebuilders could get their stucco boxes sold, everyone with a toxic mortgage could refinace into another (more) toxic mortgage, and all would be great with the world?

If the Fed doesn’t cut the rate, then maybe other countries will buy our stuff because the dollar has tanked and that keeps the party going a bit longer?

WWWHHAAATTTTT???????????

Again I emphasize that I’ve never seen this program before, so I ask the people here for their experience & input on Mr. Cramer.

Is this normal?

(Yes, I did watch the entire show to see him “cover” the first segment later on)

What say ye?

Wow! The presentation is like a frantic circus!

I didn’t quite follow the whole one man shouting match, but my ears DID perk up when he said something to the effect of:
“If I owned a house in the Inland Empire, I’d make sure my insurance was in place and burn it down.”

It caught my attention because I know someone who’s finishing up 10 years in prison (away from his wife & young children) for just such a stunt…. so it didn’t seem so funny to me after watching how those kids have grown up without a dad around.

Anyway, it was… interesting.

I think there’s a certain lack of practicality, shall we say, in Cramer’s recommendations? I’m accustomed to “buy,” “hold,” or “sell,” but this is the first I’ve heard “level.”

I’m wondering if he’s giving a “level” recommendation to other bubble markets.

But seriously, Cramer is fulminating on his fungibles fantasy today.

This one has been picked up all over the Yahoo Gossip Boards, and quite a few fellow housing blogs and some financial boards.

Cramer as a bear is quite a novelty.

CRisk gave us a nice plug here (there’s a long discussion thread on the haloscan). Maybe that’s part of the reason Admin was tearing his hair out with the load today

Speaking of short memories- Cramer seems to have a different view of subprime here:

(Igor’s spam-word … flippers)

Are there problems with crosswinds in New Jersey? It seems like the wind blows Cramer one way one day, and then another the next.

This one is unbelievable- it doesn’t sound like the man who not so long ago was bullish on homebuilders and preaching subprime containment.