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Jim Cramer fills his blog on


every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

  • Goldman Sachs' staying power,
  • an auto solution, and
  • the terrible jobs number.

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Do You Think Goldman Forgot How to Make Money?

Originally published on Tuesday, Dec. 2, at 4:45 p.m. EST

Why do people presume that investment banking will never come back? Why do they presume that there will never be more use for a place like

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

? Why do people openly question that they can ever make a profit again or that their book value is a total lie? Do people think there is a secular decline in all financing, and that we are done forever raising money? Do people think we are done merging? Do they think we are done issuing municipals? Do people think we are done with trading corporate debt? Do people think we are done with lending money against stock? That's it?

I think Goldman's going to be like


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TheStreet Recommends

(GE) - Get General Electric Company Report

, where we say, "OK, that's a big surprise because it is no surprise," and the stock goes up. I think that there's a real chance here to buy Goldman at the nadir of business and a totally fear-driven discount to book.

I know the model has to change, blah, blah, blah. But so has the competition -- like none other than

Morgan Stanley

(MS) - Get Morgan Stanley Report

. Can Goldman buy some banking deposits? Harder than a couple of months ago, but it can get it done. The most important thing that Goldman has going for it, though, is that it can create product. It always has. It knows how to make financial product and sell it.

I think that no matter how bad the quarter, this one is GE II.

I own it for

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I believe the downside here is far outweighed by the upside.

At the time of publication, Cramer was long Goldman Sachs, Morgan Stanley and GE.

The Auto Solution

Originally published on Thursday, Dec. 4, at 3:16 p.m. EST

Let's stop the pussyfooting.


has to go. We have to take out capacity. The people who own Chrysler knew what they were getting into. They were the most sophisticated of investors: Cerberus. Every time CEO Bob Nardelli came on TV before now, he told us Chrysler was doing great. He says he is willing to sacrifice the upside and give it to the government. I say, terrific, but you know what? I offer Cerberus the upside and the downside, but no money. If we care about the workers, wipe out the investors, cancel their debt and sell it all to


(F) - Get Ford Motor Company Report

, which seems to have a clue and is not desperate.


(GM) - Get General Motors Company Report

? OK, wholesale change. The company has to listen to Paul Ingrassia, who wrote

a fabulous piece today


The Wall Street Journal

that talked about a template, the joint factory between


(TM) - Get Toyota Motor Corp. Report

and GM, and the cost structure available there.

Put simply, the deal is clear: GM files bankruptcy, gets debtor-in-possession financing from the government, and restructures to make it so it costs no more than Toyota to make a car here. Anything less and the money has to be paid back with higher interest, or we get an even larger stake in the company than what we would get otherwise, as we obviously want some warrants or some options with that debtor-in-possession financing.

How about the argument that no one will buy their cars again? That's a warranty issue: We give them five years or 50,000 miles or whatever is comparable, and then people will buy away.

It's the only solution: Chrysler gets nothing; Ford gets nothing yet, because it doesn't want it; and GM files for bankruptcy. There. Done.

At the time of publication, Cramer had no positions in the stocks mentioned.

Awful Jobs Figure Brings It All Into Focus

Originally published on Friday, Dec. 5, at 9:11 a.m. EST

Here's the wakeup call at last, the number that shows why oil is down so much and car and auto sales are so bad. This jobs loss is what happens when there is no credit because there are no homes sold and because there were rates too high for too long.

We are now going headlong into a recession, and this administration does not even attempt to create jobs. The stock market, because of the


-caused volatility, doesn't help. The credit markets are frozen because of the possibility of the money not being repaid.

It is all about employment.

Now, the question is whether the senator from


(TM) - Get Toyota Motor Corp. Report



(HMC) - Get Honda Motor Co. Ltd. Report

-- Richard Shelby of Alabama -- will keep us from saving jobs in the auto industry. Will he shut down


(F) - Get Ford Motor Company Report



(GM) - Get General Motors Company Report



? And yes, he is that powerful.

We cannot afford the job loss here. Better to just make a deal with the laid-off workers to pay them a certain amount of money a month.

Yes, and we know the doom-and-gloomers are right. We know that those who talk about how once a recession is declared, we are already through a lot of the pain, are wrong. We know the stock market is broken and hazardous, even though I think

we will not eclipse the lows

from late November because of the makeup of the



But we sure are going to try. Because this number is a disaster, and even the Larry Kudlows are going to have a hard time explaining away this one.

Oh, and today, President-elect Obama should call for putting 2 million to 3 million to work. Today.

We cannot wait until he becomes president, and we know that President Bush doesn't know how and is way too uncreative to figure out how to do it.

At the time of publication, Cramer had no positions in the stocks mentioned.

Jim Cramer is co-founder and chairman of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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