CNBC’s Cramer takes a lot of blame for his hype. I remember not too long ago Jon Stewart spent a week or so attacking him for his scare tactics. But can you blame one person’s “job” for another’s paranoia mistakes – PB/TK
Trump adviser Steve Bannon attributes his worldview to a simple stock-investing mistake his dad made after listening to Jim Cramer – Bob Bryan March 15 2017
Steve Bannon, the White House chief strategist under President Donald Trump, has described his view of the US economy as “economic nationalism.”
Bannon, a former Goldman Sachs banker and editor of the far-right website Breitbart, has advocated greater trade protectionism, large government investment in infrastructure, and negative interest rates — policies that many economists have said could harm the US economy.
In a profile by The Wall Street Journal’s Michael Bender, Bannon attributed his shift in economic ideals and distrust of institutions in part to a “Today” show segment featuring financial advice from CNBC’s Jim Cramer
In October 2008, in the throes of the financial crisis, Cramer, the host of “Mad Money,” told people during a “Today” show appearance, “Whatever money you may need for the next five years, please take it out of the stock market right now.”
Marty Bannon, Steve’s father, had been accumulating stock in AT&T — where he worked — throughout his career to give to his children. Marty, however, saw the Cramer segment and decided to sell all his shares, at a loss of about $100,000, according to The Journal.
Continue to businessinsider.com article: http://www.businessinsider.com/steve-bannon-dad-stock-selling-jim-cramer-economic-nationalism-2017-3
