Yglesias

Jim Cramer Has All The Wrong Friends

CREDIT:

Apparently Marty Peretz thinks Jim Cramer’s just great.

It’s worth noting that what Peretz calls “democratic capitalism” — the idea that ordinary people should speculate in the stock market — is just a fraud. There’s a strong case to be made that people saving for the long run ought to own some equities via an index or the like. But what Peretz and Cramer are selling is a lie designed to swindle people out of their money.