jim cramer cnbc stocks doomed sell now

Cramer - Stocks Are
Doomed, Sell Now
Breaking News from MoneyNews.com
7-17-8

Jim Cramer, the often loud and always bullish host of a popular CNBC show, is now bearish.

Cramer frequently tells his audience that he believes there is always a bull market somewhere, and it's his goal to help them find it.

"But this time is different; it's doom itself," Cramer recently wrote in New York magazine. "In 25 years on Wall Street, I have never seen things this bad."

Cramer is a former hedge fund manager who delivered a compounded rate of return of 24 percent for 15 years at his firm, Cramer Berkowitz.


His investment advice is always very specific, and he is also clear about what he sees over the short term.

"Sell everything. Nothing's working," he writes.

"Revisit when the prices are adjusted for a big recession, soaring inflation, and a crushed consumer. Sell at 12,000 and come back at 10,000. Even better: short it," said Cramer.

Barclays Capital agrees with Cramer's assessment of inflation. It is now predicting that headline inflation will spike to 5.5 percent by August, and the Fed will respond by increasing interest rates six times before the end of 2009.

The Consumer Confidence Index is also near all-time lows.