AND NOW: Americas “Most Trusted Personal Finance Expert” Demands Another Fed Bailout

From the article:

“Is it any wonder that with “personal finance experts” such as these, that the personal finances of America have never been worse?”


Americas “Most Trusted Personal Finance Expert” Demands Another Fed Bailout (ZeroHedge, Aug 22, 2015):

Back in August 2007, just as the quant funds had their first taste of what the upcoming collapse would look like and when the Fed for the first time realized that the subprime woes were “not contained” despite what Ben Bernanke had promised previously to Congress, financial comedy TV’s best known mascot, Jim Cramer had a meltdown on CNBC following Bear Stearns’ CFO admission that the fixed-income market turmoil was the worst in 22 years, ranting how the Fed “knows nothing” and how it should promptly bail out the financial system.

Little did Bear Stearns know that less than 9 months later it would no longer exist, but not before the same Jim Cramer proclaimed Bear Stearns was “fine” and is not in trouble when it was trading at $62/share. A week later the company was insolvent and was handed to JPM for a forced take-out at $2/share.

Fast forward 8 years when we just witnessed the biggest weekly market rout in 4 years and largest VIX surge in history, and when – like clockwork – the financial “experts” come crawling out demanding, you guessed it, another Fed bailout.

Here is Suze Orman, self-described as “America’s Most Trusted Personal Finance Expert who, hilariously enough, in a Twitter conversation with none other than financial comedy’s prime mascot made it quite clear how she feels about the market rout:

Cramer’s prompt response was essentially a rerun of 2007:

The “trusted expert” chimes in, demanding someone do something to crush the selling which “did not need to happen” – after all only buying is allowed under central planning.

The punchline, as usual, belongs to Cramer:

So let’s get this straight: when the Fed-manipulated market keeps levitating ever higher, even as the Fed itself admits QE has failed to help the economy, America’s “most trusted personal finance expert” is delighted.

But once we have even a modest stock correction – arguably because stocks are no longer allowed to drop… ever – the same expert comes out demanding a bailout, because you see it was beyond her “expert” skills to prepare America for the inconceivable contingency of a market drop. And just in case her message is lost on someone, Cramer defines this same “expert” as the most commonsensical individual in finance.

Is it any wonder that with “personal finance experts” such as these, that the personal finances of America have never been worse?


1 thought on “AND NOW: Americas “Most Trusted Personal Finance Expert” Demands Another Fed Bailout”

  1. There isn’t enough left for a FED bailout…..last time, we had a name, credibility, and were the World Reserve Currency. After the lack of response to causing the worst world economic crash in modern history, nothing was done to clean up Wall Street, punish the wrongdoers, or restore any of our long respected financial regulations. Due to this bush led lack of response to world opinion, we lost two of the most valuable assets the US ever enjoyed…..from the American Revolution until gw bush…..Credibility and respect…..we lost both.

    After causing the world to suffer, (as they did to millions at home) it was clear to the world by 2010 after Obama did nothing to rein in the greedy guts either, that nothing would get better in the US. They started moving away from the US.

    Hugo Chavez set the stage for the final economic US domino to fall when he introduced the first electronic currency, the Sucre, to the world. He was cunning, he set it up for his tiny organization, the South American Trade Alliance. 12 little countries were members. For the first time, member nations could trade with each other using their own currencies, LEAVING THE DOLLAR OUT……..The Sucre translated the value of each nation’s currency at the time of transaction, making the need for any world reserve currency obsolete. Technology again gave easier solutions to the old ways.

    The organization was so small, it flew under US radar, but Russia and China paid close mind and adopted an identical system in November of 2010. China went on to recruit much of the emerging nations including India, Turkey, most African nations including South Africa, Brazil, much of South and Central America, Australia and Canada, among others.

    By the time the US got full wind of the trend, it was too late, no way to put this genie back into the bottle. The media was kept silent….

    The only reason I found it was because I am an economics geek, and was looking for foreign news….I found the Sucre, some of the information about it, and wrote it down. Good thing, the story was amended a few weeks later, now it is a sentence on the web, nothing more. I paid attention, and saw Russia & China adopt it six months after introduction. Then, I got the information every time another country dumped the dollar after adoption of electronic currencies……

    The advent of the Sucre, and its technology being spread around the world has taken much power away from the US and the US Dollar. It is no longer essential to world trade as it was in the last downturn. It no longer has the power, and the US no longer has the credibility to pull it off.

    The FED cannot offset the world crash even if it tried……Neither can the IMF (US based), or ECB. All are too totally debt laden to pull it off.

    As for Suzi Orman, I have little to say……her time, like so much of the old US economy, is worn out and now irrelevant.

    The world is confronting a world depression and some major deflation……..No move by the FED can offset it. The US is gutted, the economic strength it once enjoyed has been offshored and stolen by greedy guts. China, looked to as a savior of the world economy is even more corrupt than the US. The other so-called world banks of the west are also of no portend here.

    What Suzi does not seem to understand is that the US is no longer the center of the world economy……………………It was the advise of someone who is clueless as to the real structure of the world economy…….


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.