Cramer: Financial Anarchy, Bank Runs In Spain, Italy Within Weeks
On Meet The Press this morning MSNBC Mad Money host Jim Cramer warns there will be financial anarchy and bank runs in both Spain and Italy within weeks.
On MSNBC’s Meet The Press Jim Cramer tells host David Gregory “I’m predicting bank runs in Spain and Italy in the next few weeks. Without coordinated policy there will be financial anarchy.”
This is particularly alarming given Cramer’s obvious conflict of interest.
Scaring mom and pop away from the market with talks of global financial collapse due to the spirally out of control European sovereign debt crisis means less viewers for his show
As such he is constantly a cheerleader for the markets and even in the middle of some of the worst crashes has stuck to the mantra of the retail investors to ignore the doom and gloom.
Meanwhile, French banks may have to be nationalized as France’s mortgage sector has just dropped straight off a cliff and the banks are on the hook for the bill.