Jim Cramer is the Britney Spears of the financial
punditocracy: famous for being famous, great at attracting attention in a trainwreck
kind of way, self-destructive and self-loathing,
and completely, utterly out of control.
Barry Ritholtz has all
you need to know about Cramer’s latest meltdown on CNBC, complete with the
Method remix version. (Highly recommended, by the way.) The saddest thing
about it is that poor Erin Burnett is desperately trying to
perpetuate the fiction that Cramer actually has something substantive to say:
at one point she even tries to ask him how a Fed rate cut at the overnight end
of the yield curve would bring down long-term interest rates. But of course
Cramer is no longer, if he ever was, the kind of person who thinks about the
shape of the yield curve or really anything at all. He knows only one thing,
and that one thing is always either "buy" or "sell". Right
now, it seems, he’s a seller. Although he, of course, would put it much more
colorfully.