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 â€“ get out now, panic now. Weâ€™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.