Cramer: "Too Much Complacency in This Broken Market
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Cramer: "Too Much Complacency in This Broken Market
"Too Much Complacency in This Broken Market"
By Jim Cramer
RealMoney Columnist
11/11/2008 6:48 PM EST
"The vast complacency conspiracy strikes daily. You hear it endlessly that it's time, that you have to see the bargains because they are everywhere. I don't hear anyone saying that the market is broken and that the rallies have all been big phonies and that the state of many businesses in the country is pretty precarious.
It's amazing to me that people just don't come on TV. and say that they are shell-shocked, just shell-shocked, at things like Las Vegas Sands (LVS - commentary - Cramer's Take) or Prudential (PRU - commentary - Cramer's Take) or Hartford (HIG - commentary - Cramer's Take).
It is astounding to me that people don't see how broken things are. How can we act as if everything is OK when Ford (F - commentary - Cramer's Take), General Motors (GM - commentary - Cramer's Take) and Chrysler are all pretty much insolvent? Why doesn't anyone come on TV and say, "Holy cow, Genworth (GNW - commentary - Cramer's Take) is at a buck and change, and I have my insurance with them," as I do, and I am plenty worried. Why aren't people more scared?
Believe me, I am not fomenting panic. I am simply saying that if you are not cautious or at least concerned that lots of moving parts seem to be breaking down in both the financial and manufacturing economy that matter tremendously to the well-being of much of the country, we cannot be numbed into thinking that everything will be OK.
I just don't get it. I don't get it at all. How can not a single person come on and say, "Oh man, what the heck, Pru? Pru?"
I am dazed by this stuff.
How can others not be? "
(in www.realmoney.com)
By Jim Cramer
RealMoney Columnist
11/11/2008 6:48 PM EST
"The vast complacency conspiracy strikes daily. You hear it endlessly that it's time, that you have to see the bargains because they are everywhere. I don't hear anyone saying that the market is broken and that the rallies have all been big phonies and that the state of many businesses in the country is pretty precarious.
It's amazing to me that people just don't come on TV. and say that they are shell-shocked, just shell-shocked, at things like Las Vegas Sands (LVS - commentary - Cramer's Take) or Prudential (PRU - commentary - Cramer's Take) or Hartford (HIG - commentary - Cramer's Take).
It is astounding to me that people don't see how broken things are. How can we act as if everything is OK when Ford (F - commentary - Cramer's Take), General Motors (GM - commentary - Cramer's Take) and Chrysler are all pretty much insolvent? Why doesn't anyone come on TV and say, "Holy cow, Genworth (GNW - commentary - Cramer's Take) is at a buck and change, and I have my insurance with them," as I do, and I am plenty worried. Why aren't people more scared?
Believe me, I am not fomenting panic. I am simply saying that if you are not cautious or at least concerned that lots of moving parts seem to be breaking down in both the financial and manufacturing economy that matter tremendously to the well-being of much of the country, we cannot be numbed into thinking that everything will be OK.
I just don't get it. I don't get it at all. How can not a single person come on and say, "Oh man, what the heck, Pru? Pru?"
I am dazed by this stuff.
How can others not be? "
(in www.realmoney.com)
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