Cramer caught on (yet) another lie!

[Mega]

Cramer has made lots of video's about how Conrtywide is fine, conrtywide didn't do that sort of loan, contrywide had very little ARM trade etc....

Look here:-
LaMalfa: I almost fell out of my chair when I was going through Countywide financial statements last week. Countrywide is one of the largest mortgage companies in America. Right now, almost one-quarter of its subprime loans are delinquent — and subprime lending represents almost half of Countrywide’s total business. To me, that’s shocking — we have never seen numbers like that.

Not quite the case was it JIM!
Mega

[zoog]

Re: Cramer caught on (yet) another lie!

I liked this part of that story:

LaMalfa says as the chaos in the real estate market shakes out, a recession is almost unavoidable. Have a nice day.

Have a nice day!

[FRED]

Re: Cramer caught on (yet) another lie!

I liked this part of that story:

Have a nice day!

A google search of Recession 2007 Top 8 turns up:

1) Recession in 2007?

The Motley Fool - Rich Smith talks with John Mauldin about yield curves and what they mean for the economy. www.fool.com/investing/value/2006/05/09/recession-in-2007.aspx - 45k - Aug 3, 2007 - Cached - Similar pages - Note this

John Mauldin says: There may be a recession in 2007.

"So that's the good news. If we're going to see a recession, it won't be until 2007, because the inversion didn't stick. The bad news is that, with long-term rates beginning to rise again, the Fed now has room to continue raising short-term rates if it wants to -- and that could still slow the economy, even if we don't fall into a full-blown recession. That said, nothing in the yield curve today tells me that it's now time to pull your cash out of the market."

When he says it: May 9, 2006

2) Dean Baker | The Housing Crash Recession of 2007

The Housing Crash Recession of 2007 By Dean Baker t r u t h o u t | Columnist. Tuesday 05 December 2006. As we approach the end of 2006, the economy's ... www.truthout.org/docs_2006/120506S.shtml - 16k - Cached - Similar pages - Note this

Dean Baker says: There will be a recession in 2007.

"Of course, with all sources of demand showing weakness, job growth will slump further, and we'll get our classic downward spiral: declining employment, falling income, falling consumption, and then further job loss. The story is not pretty, but unfortunately there is no way to prevent it. This downturn will be especially painful because it is associated with a crash of the housing bubble. This means both that many people will lose their life's savings and also that the recession is likely to be longer lasting than most."

When he says it: December 5, 2006

3) The Recession of 2007

If we had the same timing, that would suggest a recession beginning in the second quarter of 2007. If the data is all that bad, I can hear you asking, ... news.goldseek.com/MillenniumWaveAdvisors/1165168210.php - 51k - Cached - Similar pages - Note this

Paul Lamont says: There may be a recession in Q2 2007.

As our clients know, we have been forecasting a very hard recession over the next few years. At the beginning of this year, our analysis was viewed with skepticism, but as more data comes in from the recent performance of the economy, our forecast is becoming more probable.

When he says it: November 06, 2006

4) Recession 2007 - Mises Institute

Australia seemed poised for a recession in 2005 after its housing market busted, but this was averted as the prices of Australia's commodity exports soared ... www.mises.org/story/2544 - 38k - Cached - Similar pages - Note this

Stefan Karlsson says: There may be a recession in 2007.

However, barring such an unexpected positive shock, it seems increasingly clear that we will see a US recession this year. The main reason for this is that the housing bubble that fueled the recovery of the last few years has essentially burst.

When he says it: April 11, 2007

5) RGE - Housing Free Fall Turning into Meltdown...2007 Recession Ahead

As I have predicted since July a recession in 2007 (as early as Q1 or at the latest by Q2) is now highly likely to occur. ... www.rgemonitor.com/blog/roubini/158194/ - 250k - Cached - Similar pages - Note this

Nouriel Roubini says: There will be a recession in 2007.

And in spite of lower starts the glut in the housing market is getting much worse (not better as delusional optimists are spinning it): indeed the completions of current housing projects will dump another huge mass of unsold homes into the market in H1 of 2007 at the time when the speculative demand for housing ("condo flipping "investments) is collapsing and the fundamental demand for housing is collapsing too as the economy spins from a sharp slowdown into a recession.

When he says it: November 17, 2006

6) Recession 2007: Part I - Eric Janszen - iTulip.com Forums

Recession 2007: Part I - Eric Janszen Weekly Commentary. www.itulip.com/forums/showthread.php?t=550 - 128k - Cached - Similar pages - Note this

Eric Janszen says: There will be a recession in Q4 2007.

Once the credit markets roll over, many of the credit bubble driven mega-deals you read about in the paper for the past couple of years, now reaching a crescendo of greed, will go the way of the AOL-Time Warner merger that closed in January 10, 2000, near the top of the equity bubble. Instead of dysfunction in equity based financing as we experienced after the tech stock bubble, we will see dysfunction in credit based financing, the heart of capitalism. Distressed debt will be the order of the day. Every credit dependent industry, especially construction and real estate, will fall hard, but the advertising driven media industry will suffer, as well. Some industries and regions of the US are already in recession, such as the automotive industry, and others are entering recession. In a diversified modern economy, many regions and industries must be in decline together for the entire US economy to be called officially "in recession," but this definition is academic and of little use to most of us.

When he says it: October 27, 2006

7) Bubble Meter: The Coming Late 2006 / Early 2007 Recession

The convergence of the housing bust with other significant economic factors will almost certainly put the US into a recession by late 2006 or early 2007. ... bubblemeter.blogspot.com/2006/01/coming-late-2006-early-2007-recession.html - 38k - Cached - Similar pages - Note this

David says: There will be a recession in early 2007.

For the past 4 years the US economic 'recovery' has been too dependent on cheap credit and the housing boom. The boom is fast becoming a bust. The convergence of the housing bust with other significant economic factors will almost certainly put the US into a recession by late 2006 or early 2007.

When he says it: December 5, 2006

8) George Soros predicts a US recession in 2007 | News Feature

When Central bankers talk about a benign economic outlook, and George Soros stands up and says he sees a US recession in 2007, who do you believe?
www.ameinfo.com/75420.html - 33k - Cached - Similar pages - Note this

George Soros says: There will be a recession in 2007.

George Soros alarmed an audience in Singapore this week by claiming that 'the soft landing (for the US economy) will turn into a hard landing. That's why I expect the recession to occur in 2007 not 2006.'

When he says it: January 10, 2006

[rabot10]

Re: Cramer caught on (yet) another lie!

Hey who are U, BatMan or Spiderman?

Inquiring minds want to know? In fact I am one of the inquiring minds lol

[zoog]

Re: Cramer caught on (yet) another lie!

Eric Janszen says: There will be a recession in Q4 2007.

When he says it: October 27, 2006

George Soros says: There will be a recession in 2007.

When he says it: January 10, 2006

Wait a tick... I thought I heard it here first?:confused:

[lb]

Re: Cramer caught on (yet) another lie!

Maybe Soros is backdating news articles for personal gain?

[FRED]

Re: Cramer caught on (yet) another lie!

Wait a tick... I thought I heard it here first?:confused:

Soros made an earlier prediction but gave himself a whole year of wiggle room. EJ nine months later but was narrowed his prediction down to Q4 2007.

Soros made the classic error everyone makes when they are new to studying asset bubbles–they expect them to pop sooner than they do.

[zoog]

Re: Cramer caught on (yet) another lie!

Maybe Soros is backdating news articles for personal gain?

Nice.

Soros made an earlier prediction but gave himself a whole year of wiggle room. EJ nine months later but was narrowed his prediction down to Q4 2007.

Soros made the classic error everyone makes when they are new to studying asset bubbles–they expect them to pop sooner than they do.

Well at any rate, I know I heard it here first.:cool: Probably didn't even know who Soros was at the time.