Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- Bernanke's role,
- the new bull markets of ag and shipping stocks, and
- how to value a middling market.
Bernanke's Not the Bogeyman
Posted at 2:22 p.m. EST, Nov. 16, 2009 All I heard last week was "be careful on Monday, because Ben Bernanke is speaking." Bernanke was widely presumed to be a rally killer, someone who could really reverse the trend. How can this be? Can someone tell me how this man, who has done so much to turn things around, can be considered so dangerous? Did they think he would give some sort of "irrational exuberance" talk? Did people think he would say the economy's so strong that it is time to take away the punchbowl? Ben Bernanke is a student of the 1930s. He recognizes that the moment he takes away the stimulus the Fed is providing and Congress raises taxes, we have a 1937 sell-off on our hands -- without the "help" of World War II to turn things around. I think that people had better start recognizing that Ben Bernanke is real smart, that he has our backs, that he wants stability and growth, with no faltering and no inflation. How can that be bad? Who bets against this man? Judging by the chatter -- the endless chatter -- that we have both bubbles AND recessions, which obviously offset each other, I think this means that Bernanke's got it right. The idea that there is a bubble because rates are low causes me to wonder, where's the bubble? Commercial real estate? Residential real estate? Commodity consumables? Steel? You could argue that oil's up, but not as much, obviously, as a year ago. And, gold: I think there are myriad reasons why gold's going up, including the debasing of the dollar, but also because worldwide growth is picking up and gold will go with it. > > Bull or Bear? Vote in Our Poll
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,685.98 | 1,159.46 | 2,378.01 | 36.53 |
Oil *
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-1.38%
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