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Thursday, April 02, 2009

Depression is Over

It has been officially announced by a self proclaimed Wall Street financial guru that the economic depression that the nation is suffering is "OVER". Jim Cramer of Mad Money on CNBC announced this m0rning on Morning Joe, "The Depression is over". He did clarify his point though, the recession is not over by far.

Cramer sited the automotive industry as the foundation to his claim in the fact that production was up by over 25%. That and banks like Citi Group are starting to turn around and actually make some money. In other claims, Cramer also declared that the federal reserve is doing everything right as well as the treasury. Basically, our leaders in charge of freeing the nation from the depression have taken the playbook of President Hoover and done the exact opposite.

According to Cramer, unemployment numbers will lag by about three months before they turn around and head nowhere but up. Housing starts... Ditto.

I hope Jim Cramer is right, I really, really do!


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