The Dollar Collapse, the Financial Bust, and Cramerisms: a Photo-Video Essay

Sunday, March 23, 2008
Posted in category Uncategorized
Comments Off

A Dutch documentary about the coming collapse of the US dollar. (Features Stephen Roach and Peter Schiff.)

Here’s the Euro-to-US dollar exchange rate.

exchange rate.png

We remember Jim Cramer calling for the Fed to open the floodgates for Bear Stearns.

And Cramer told us we hit the bottom last year, so there’s nowhere to go but up.

Then there’s Cramer’s “Winners of the New World” article in 2000 (article mysteriously gone). Someone else remembers this, however. Here’s Andrew Tobias, in 2004, on Jim’s “Winners…”:

His predicted “Winners” four years ago were: Mercury Interactive (MERQ) – $96.38 then, $45.39 today, down by nore than half . . . Veritas Software (VRTS) – $197.88 then, $24.67 (and symbol VRTSE today), down 87.5% . . . InfoSpace.com (INSP) – down 85% from $217 then to $32.30 today . . . VeriSign (VRSN) – down 93% from $254 to $17.75 . . . Ariba (ARBA) – down 99.3% from $264.50 to $1.88 . . . and then these others for which I cound not readily find prices: Digital Island (ISLD) . . . Exodus (EXDS) . . . Inktomi (INKT) . . . Sonera (SNRA) . . . and 724 Solutions (SVNX). Some of them merged, others disappeared.

The Mises Institute had it right a long time ago.

Be Sociable, Share!
Both comments and pings are currently closed.