Jim Cramer Is a Blowhard

Jim Cramer, host of CNBC's Mad Money, has a right to be a staunch capitalist and rant in an entertaining way to drum up viewers. He can even bash auto manufacturers.

But it's hard to dismiss Cramer's idiotic blathering as a guest on MSNBC's "Morning Joe" this morning.

On the show, Cramer calls General Motors "a $50 billion jobs program run by the union. It has nothing to do with making cars or a profit. It's just a jobs program, a WPA" (Works Progress Administration Program from the Depression).

"There's no need for GM," he says. "We have 9.9 million cars being sold. They have a failed model, but do you want to put all those people out of work? As soon as the unemployment problem goes away, GM goes away."

When asked if any auto factories can be retooled for this green economy, he replied "None whatsoever - these factories are irrelevant."

Joe Scarborough then asks him if Americans are incapable of cracking that [green manufacturing] code? "Just the opposite, I think GM is incapable," says Cramer.

(Listen further in the clip for more union bashing. And pay attention to his "white man" and "holy cow, they found a woman," comments.)

The thing that gets me is MSNBC had no counter voice to Cramer's idiotic comments. None of the show's personalities could come up with a successful unionized company in the U.S. How would Jack Welch have responded about GE?

Does Cramer have any clue as to GM's importance in commercial fleet, from the light- and medium-duty vehicles that are the workhorses of business to the (still) largest dealer network that services them?

Cramer's viewpoint exposes an appalling lack of knowledge of auto manufacturing, GM's business plan and its product portfolio. When that portfolio fails to meet American consumer and business needs, green or otherwise, GM could go away, as any manufacturer could. But GM is not in danger of doing so. And its factories, along with other OEMs' American plants, are producing green vehicles today and will in the future.

I'm not going to get into a "rah-rah" GM discussion or how GM's brand and products will continue to meet those needs. If you're reading this blog, you already know that.

It's just infuriating that someone such as Cramer, with his bully pulpit, can spout off uncontested regarding a topic on which he obviously has little knowledge.

Originally posted on Business Fleet