No Cramer, now is not the time to panic!

Filed under: Forecasts, Other issues, Good news, Rants and raves, General Electric (GE), Berkshire Hathaway (BRK.A), Market matters, Money and Finance Today, DJIA, Stocks to Buy, Recession

My colleague (sort of) James Cramer has suddenly turned into a giant, growling bear. He has been moving in that direction for a few months and now he thinks we all should go into hibernation for five years. He is so wrong!

First of all, it is never a good idea to make decisions while you are in panic mode. Second, Jim's guidance is moving with the market so he is not making any serious prognostication, just staying slightly ahead of the mob. He might as well stick his finger in the air.

Are things bad? Yes! Could they get worse? Yes! Would I run for the hills? ABSOLUTELY NOT! Even though I agree we are in for some tough times, I think the market is reacting to more than meets the