Jim Cramer - the ultimate in contrary indicators. He made a ton of money back in the go-go days of the 90's but there are many who claim he was very dirty. There are books written about his trading antics written by people who worked for him.
Many people wondered why if he was so dirty Elliot Spitzer left him alone while he went after everyone else. I can tell you that... they were college roommates. Hmmm I wonder how much Cramer knew about Spitzers umm... habit.
Anyway to the point - the guy has been wrong with such consistency that it makes me feel SO much better to have him say that you have to be in gold because of the failing economy.
You see I've been very worried about the bank failures and the financial meltdown. Also the bailout - which is necessary - is making many think the value of the dollar will fall so much that OIL went up a record amount today and gold went up a ton also.
So what's going to happen? No one really knows - and if they do they will be the ones who get rich off this. I can tell you who DOESN'T know - Jim Cramer. If he says panic and go into gold then it must mean everything is going to be OK.
Gosh I am relieved, thanks Cramer.