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This market similar to worst crashes ever seen – stock guru Jim Cramer

by:QY Precision      2019-09-08
He warned that if the Fed does not change its interest rate agenda, it could lead to a smaller version of the 2008 financial crisis.
\"Although it hurts me to say this, the current situation is integrated. . .
Four of the worst historical failures, \"Mr. Cramer told investors that after the domestic stock market slipped into school, he called it\" slow.
Train wreckage.
Cramer, who is currently the host of CNBC\'s crazy money, recalls four of the worst stock market declines in his career when he sold off his entire stock portfolio.
The first crash occurred in October 1987. it was one.
The mechanical day known as \"Black Monday\" has fallen sharply.
\"It was portfolio insurance at that time;
Cramer added: \"It\'s algorithms and ETFs now, and as we can see today, they\'re like machine guns killing any buyer.
Then there was 1998, when market experts sold shares before he predicted a \"complete collapse\", major hedge funds withdrew. However, then-
Federal Reserve Chairman Alan Greenspan has lifted the stock market by announcing a rate cut.
Kramer said selling his stock at the time was the worst professional mistake he had ever made, adding that he wanted the Fed to do the same today.
He said the crash of March 2000 was cruel to investors, but had a \"negligible\" impact on the economy \".
\"The network bomb in 2000 . . . . . . Exploded because of reckless underwriting.
The economy was strong, but bankers poured into the market at too many low prices.
High quality internet IPOs and secondary offerings, and then the whole thing crashes under its own pressure.
Finally, the financial crisis broke out in 2008, when Cramer\'s sources in the business world suggested that the economy might be on the brink of recession, but the Fed did not listen and roared with its famous \"they don\'t know anything.
\"Now, the stock market is sending a signal that the economy is deteriorating rapidly, like 2008 . . . . . . We have a Federal Reserve that is sadly unaware of the dangers . . . . . . The Fed is making the same mistake as it did in 2007.
They misjudge exactly how weak some of the major parts of the economy are.
Cramer explained that in order to avoid more serious losses, the Fed will either have to change interest rates or President Trump will have to end tariffs.
\"If Federal Reserve Chairman Jerome Powell really starts listening to the stock market and realizes the damage [Trump\'s] tariffs are doing to the economy, then he may change direction, as [Alan Greenspan] did in 98, \"he said.
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