Posts Tagged ‘Jim Cramer’

The Bankers Strike Again; Also, UFOs

Saturday, May 2nd, 2020

BOB GAYDOS

THE REPORT … bad loans, Beyond burgers, UFOs, takeout

    072F2413-04EB-42B5-8BE1-B11114B646CD  So the cardinal count at our bird feeders has doubled. We now have two males. I take that as good news, believing there have to be two families close by that these dads are rushing back-and-forth to feed. By the way, there is no social distancing at the feeders.

     — Also by the way … Super stock analyst, TV star, Philadelphia Eagles fan and world-class speed talker Jim Cramer raised an important point on his CNBC show when he said, “I just want to know who made the bad loans.” The loans he was referring to came from the Paycheck Protection Program, part of the $2.2 trillion rescue plan passed by Congress to help small businesses affected by the coronavirus pandemic. Anyone casually familiar with social media the past few days is aware that many of these loans went to large corporations which were never intended to receive the money. Smaller businesses were shut out. In fact, the fund ran out of its original $349 billion cache after just a few days. When Shake Shack, the Los Angeles Lakers and other well-heeled companies were embarrassed by the publicity surrounding their getting the loans, many said they would return the money. But others said they would keep it.

       Two problems here. One, why did these large corporations even apply for the loans in the first place? Two, as Cramer wondered, who gave them the loans? “I think that banks were complicit. I think banks gave loans to very good customers, maybe because they needed to keep them afloat,” Cramer said. He said Americans are “sick” of this kind of behavior from banks and he’s absolutely right. Penalize the companies, who must have supplied phony info to even apply for the loans, and the banks, who surely knew. Make the names of those banks who approved the loans public, as Cramer suggested. Congress should investigate.

      — By the way … we finally found Beyond Meat burgers at the supermarket and created our version of a drive thru treat at home. Delicious. Of course, now, having already decided the Impossible Whopper is also delicious, some serious taste-testing is in order in the plant-based food wars. Any personal reviews out there?

     — By the way … speaking of out there, did you notice that little UFO item the Pentagon slipped out in the midst of the pandemic, maybe figuring no one was paying attention? It declassified videos

The Navy released this video of UFOs this week.

The Navy released this video of UFOs this week.

showing swiftly moving UFOs with the soundtrack of naval pilots expressing, well, awe. The videos were actually made public a couple of years ago by a private group, but the Pentagon had no official comment on them at the time. Recently, the Navy announced a formal policy on reporting UFOs. Apparently, the brass decided to believe their pilots were actually seeing something that they could not identify or explain. The Pentagon had a classified program to study numerous reports of such phenomena from 2007 to 2012, but abandoned it for what it said were more pressing priorities. The former head of that program resigned in protest in 2017 over the secrecy surrounding it. Retired former Senate Majority Leader Harry Reid, of Nevada, who pushed for the original program, tweeted that release of the videos now “only scratches the surface of research and materials available. The U.S. needs to take a serious, scientific look at this and any potential national security implications.” Or we can let the new Space Force handle it.

      — By the way … folks in my neighborhood have been familiar with the UFO phenomenon for a long time. In fact, Pine Bush, N.Y., has an annual parade/festival to celebrate its designation as the UFO capital of the Northeast. Nice event.  Unfortunately, it’s postponed this year until fall. Of course, some folks may think we’re a bit out of it, but It’s hard for me to discount the idea that there’s something out there and it’s intelligent, because it’s smart enough to stay away from us right now. Make a hard left at Earth, captain, and get out of the neighborhood fast.

       — Finally … scenes from a pandemic: Sitting in the parking lot waiting for our Chinese takeout. Customers preceding us waiting at the door, socially distanced, all wearing some variation of masks. When they leave, a silver hearse pulls up, white skull painted in the rear window and a spooky ghost in one of the side windows. Normal-looking lady wearing a mask gets out the driver side, goes in, picks up her takeout and drives away expeditiously. GrubHub? DoorDash? Thinking I’m definitely in a Coen brothers movie. By the way … I had shrimp lo mein.

Bob Gaydos is writer-in-residence at zestoforange.com.

rjgaydos@gmail.com