As I have discussed before, the collapse of junk bonds was an early sign that stocks were going to totally crash in 2008, and now we see a very similar pattern playing out in 2018.
One of the signature moments from the crisis of 2008 was Jim Cramer’s famous rant about the Federal Reserve on CNBC, and he referenced that rant during remarks that he made on Thursday…
For CNBC’s Jim Cramer , the worst part about the Federal Reserve’s latest interest rate hike is that the central bank’s chief, Jerome Powell, seemed to ignore what Cramer regards as “serious” weakness in the U.S. economy.
“I have a better read on the economy than the Fed and I know they’re not going to listen to me,” the “Mad Money” host said Thursday as the Dow Jones Industrial Average fell to a 14-month low . “I feel powerless, just like 2007 , when I ranted that the Fed needed to start easing aggressively in order to stave off a financial catastrophe.