Tuesday, December 18, 2007

Ron Paul on Mad Money

The cognitive dissonance on this video is amazing. I saw Jim Cramer's explosion on the air about the Federal Reserve a while ago, and while I appreciate the fact that both of them oppose the Fed, they probably oppose it for differing reasons. Cramer was upset that Ben Bernanke didn't act quickly enough to save the markets (and therefore bail out Cramer and his stock market, banking, and hedge fund buddies). Ron Paul hates central banking in general, because inflation created by central banking tends to hurt the lower and middle classes, and central banks are an enabler of government deficit spending. Jim Cramer seems to be in it for extracting revenge, as Ben Bernanke isn't "Easy Al" with the "Greenspan Put" on hand (though my prediction was wrong--Ben Bernanke has relented and dropped rates recently). Also amusing is their disparity in arguing their points. Cramer is his typical insane self, hopping in fury, while Ron Paul, the elder statesman, speaks about the matter calmly and rationally.

To be fair to Cramer, he is an entertainer, and people should view him as such: take his antics and advice with a grain of salt. I must give him mad props on having Dr. Paul on his show, and advocating Federal Reserve transparency.

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