Coyote's Canyon Journal

"Now I see the secret of the making of the best persons. It is to grow in the open air and to eat and sleep with the earth." -- Walt Whitman, Song of the Open Road

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Location: Canyon State of Mind, United States

I enjoy writing. I don't actually make a living with my English degree, so I keep a blog for fun. The blog is first draft, and as a former editor I apologize for any weird errors that may be present. I do not apologize for writing about things that matter to me. Thanks for reading.

Monday, February 23, 2009

Cramer: Nationalizing Banks is a REALLY bad idea.



Never have I seen Jim Cramer this, um, chill. He's serious as a heart attack about how economic disruption brings about social unrest. I didn't want to watch it at first (I mean, c'mon, who the heck actually has five minutes to watch something boring like this?).

It got good about four minutes in, after he covered all the stuff about how a nationalized bank system will not be able to handle any kind of insurance pay outs on policy claims, and credit will totally disappear--no home or business loans, no credit cards, nothing. Then he talks about fascism and communism and World War II.

Crazy Jim Cramer is not sounding so crazy anymore.

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