Jim Cramer was Right

Jim “Mad Money” Cramer was right. No, not about saying that, but about the impact of the business press’s constant confusion of non-bias with perma-bearishness.

Here is Cramer talking the latter subject on Imus this morning:

The [Wall Street] Journal is oftentimes captive to the guys who want the market down. I always find that there is a bias to the Journal. They want to be skeptical. They think it is being prudent. But when you read their columns, a lot of times what they are saying is – get out now, panic now. We’re going to hell in a handbasket.

So true. And when you as a journalist have that fixed negative/skeptical view in a market that has for a hundred years, to borrow a great book’s title, represented the triumph of the optimists, then you’re easily played by people with an agenda.

obDisclaimer: I write a weekly column for the Cramer-founded TheStreet, and we both appear regularly on CNBC. I may be saying this just to curry favor and get signed hats.

Related posts:

  1. Cramer: GM Goes Bankrupt; Murdoch Buys the WSJ
  2. Cramer, Cartoons, and Cats
  3. Welcome to Cramer Land
  4. Cramer on Google, Bottled Milk, & Newspapers
  5. Catching Up: Cramer, Perl via Speech Rec, JetBlue is AWOL, etc.

Comments

  1. One Way Stox says:

    “Bad news sells papers”

  2. mike says:

    Funny, I was reading perma-bear Barry Ritholtz the other day, whose take was that the MSM/analyst community is intrinsically biased toward the optimistic. He didn’t mention the WSJ in particular, but I assume that’s his position.
    I suppose your half-full/half-empty perspective is all relative to your starting point.

  3. Russ says:

    Paul, you should check out this youtube clip on Jim Cramer’s tactics for “business press” – if you have not already done so…Enjoy!

  4. herb greenberg says:

    Oh, for God sakes, Paul. I think that’ll be the jumping off point when you/me and Andy Kessler get together next week for dinner. But, i know: It’ll be like me against the four goons, er guys, on Fast Money. Should be fun. See you then.
    Herb