Changed Facts Or Public Service?

Jim Cramer repeated today on his "Mad Money" show that Great Depression 2.0 is off the table now. His mantra is "When facts change I change too". I'm signing under this statement any time. The only problem I see, facts haven't changed, yet. Yes, Fed is trying to flood economy with money, but this money doesn't go farther than Treasuries. Yes, there is TARP program. All it can really do is to help banks to conform to reserve requirements. Yes, there might be some help to GM and Chrysler which at least will keep some people employed. But so far, we are in deflation. GD 2.0 is not off the table until we see at least some inflation.

But Jim also said one thing which reminds me of my life in Soviet Union. He said that proclaiming Great Depression would be bad public service or something like that. This is the first time when Jim really speaks the same language as Lenin, whose portrait he is keeping in his studio (he thinks they look similar, nothing of the sort, by the way). No Jim, saying what's "good for the public" instead of truth is a very bad public service. It's just a lie. I understand that politicians are lying (sorry, saying what public wants to hear instead of truth) quite often and always make corrections for that. But Jim Cramer is no politician! He was a hedge fund manager, extremely successful, and he never forgets to remind us about it. He gives investment advice, i.e. telling people how to make money. Tell me honestly, Jim, would you buy now counting on recovery or counting on possible Great Depression? I don't care about public good when investing. I only think about my money. For public good, I donate to charities, I vote, maybe some of my articles are for public good too (not for money, that's for sure).

Fortunately, Jim's investment advice isn't tainted by this approach. I agree with advice to buy high yield companies with reliable dividends and acted on it. But there are some new filters in my head when watching Jim.