Thisis going to be a very quick one.
The idiot Cramer is on television this very moment and within the first 90 seconds of his show announced that “the housing market has bottomed”. And 14 days earlier than his prediction back in 2008.
He also m ade mention that people call him a bozo and a menace (and as much as it would pleasure me to think he was actually referencing me there) for making such predictions.
But I wrote you last week that the chief economist of The National Association of Home Builders doesn’t think that FORECLOSURES will even peak until 2011. So who are you going to believe in making these predictions?
I’m currently in Erie, Pennsylvania working at a client and have no access to VCR’s, DVD recorders or TIVO’s so would someone please record this moron when CNBC replays his horrible show at 11:00 p.m. Eastern Time. As I’m typing this he also just recommended buying Bank of America too. Gosh…I really want to have this all recorded so when he completely forgets making these calls a month from now I’ll want to have this video so I can play it here on my blog on a continuous loop.
So you know too, I am not just critizing his typically bad predictions but I am willing to make my own and they will remain here on my Blog and on Twitter for you to go back and inspect anytime you wish.
The housing market is still going to go down another 10% nationally and 20% in markets like Florida, Arizona, Nevada and parts of California.
The Dow Jones Industrials will decline over 1,000 more points and very likely 2,000 more.
Oil will go back to at least $50 sooner than you think.
Now write me back in 30 to 60 days and let me know who was more on target, me or Cramer.