Cramer stands by his call on Obama Policy hurting markets…

Airtime: Mon. Mar. 9 2009 | 11:50 AM ET

Mad Money host Jim Cramer  CNBC’s Erin Burnett.

Cramer stands by his call on Obama Bear Market

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March 9, 2009. Tags: , , , , , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. 1 comment.

The Smartest Guys in the Room Model PT II: “the elite journalists got it wrong”

Krauthammer and MiM aren’t the only ones seeing this theme…

Peter Robinson, Forbes:

A couple of implications here are worth noting. The first is that a deep, recurring pattern of American life has asserted itself yet again: the cluelessness of the elite.

Buckley, Gergen and Brooks all attended expensive private universities, then spent their careers moving among the wealthy and powerful who inhabit the seaboard corridor running from Washington to Boston. If any of the three strolled uninvited into a cocktail party in Georgetown, Cambridge or New Haven, the hostess would emit yelps of delight. Yet all three originally got Obama wrong.

Contrast Buckley, Gergen and Brooks with, let us say, Rush Limbaugh, whose appearance at any chic cocktail party would cause the hostess to faint dead away, or with Thomas Sowell, who occupies probably the most unfashionable position in the country, that of a black conservative.

Limbaugh and Sowell both got Obama right from the very get-go. “Just what evidence do you have,” Sowell replied when I asked, shortly before the election, whether he considered Obama a centrist, “that he’s anything but a hard-left ideologue?”

The elite journalists, I repeat, got Obama wrong. The troglodytes got him right. As our national drama continues to unfold, bear that in mind

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March 7, 2009. Tags: , , , , , , , , , , , , , , , . Cabinet, Economy, Obama Administration, Politics, Popular Culture, Taxes, Uncategorized, Wall St. Comments off.

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