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Mad Mail: What About Joe Consumer?
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Cramer says: “…A new administration will bring in different rules…the bank bailout is not something I wanted. It’s something that we had to have in order to avoid a Great Depression. To me, the best thing…was to be able to figure out a way to cut rates and put the money in the hands or change the mortgages, the interest of all these people in the homes. It’s all a home issue. It’s not a bank issue. But it’s gotten too late. And as far as the SEC, they dropped the ball…I wish they hadn’t.”
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Jim: I'm convinced you speak the truth even when no one wants to hear it. That kind of honesty in analysis is sorely lacking for the small investor and I thank you for it! We hear time and time again that the American consumer is the primary driver of our economy. Yet, no one is really looking at, "Joe Consumer's" ability to spend us out of this recession. For the better part of a decade, Joe has been fueling our economy on credit cards and home equity in spite of a decrease in his income in real terms…My concern is that are we in for a protracted economic downturn and by protracted I mean years, not months. Am I right or wrong here? --Shannon
Cramer says: “Shannon, I’m afraid I think you might be right.” That’s why he’s been telling investors who need money over the next five years to raise it as soon as possible. Cramer hopes this downturn is shallow, but he doesn’t think it will be. He’s also concerned about unemployment and the stretched consumer, and that’s why the focus on Mad Money has been about dividends and stocks that do well in a recession.
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Dear Jim: Last night, you recommended LINN Energy [LINE
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], on the show. When I took a closer look, the first thing I notice is that LINE is losing money. LINE shows an EPS of -$12.54. Why should I not be worried about that? Is it a one time accounting thing? --Charley
Cramer says: “…I need you to go and read the statement last night that they issued after the close of the market, which talks exactly about how their liquid position, how it’s no problem to be able to pay that dividend. I think you’ll feel better. It’s what I looked at when I knew that we were in good shape.”
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