The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on October 28, 2020, 07:07:30 pm
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CNBC’s Cramer Decries No Stimulus Deal — Future COVID Lockdown Has Everyone ‘Fearful’ of Investing
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Trent Baker 28 Oct 2020
Wednesday on CNBC’s “Squawk Box,†network anchor Jim Cramer voiced his concern over potential lockdowns in response to a recent uptick in coronavirus cases.
Cramer said it is a “shame†Congress has not reached a deal on additional stimulus because lockdowns could provide a major blow to the market.
“I just think that there’s going to be a call for lockdowns the likes of which we’ve seen in Chicago,†Cramer said. “And I think that the lockdowns without the stimulus equals what we’re seeing. And I think it’s a shame because had there been stimulus, we would then be focusing on earnings, and the earnings are actually pretty darn good, even if it means that some of them are by cutback, but some of them are by good revenue growth.â€
“It’s very hard to buy a lot of stocks when you see these numbers. And it’s a shame, too, because I think that with stimulus, we’d be very tempted to own some of these stocks,†he added. “But right now, I think everyone’s just fearful.â€
Cramer went on to predict Congress will be forced to act on additional stimulus by Inauguration Day.
“I think that when you see 14 million people laid off in hospitality within the next month, it’s certainly realistic to expect that something gets done,†he advised.
more
https://www.breitbart.com/clips/2020/10/28/cnbcs-cramer-decries-no-stimulus-deal-future-covid-lockdown-has-everyone-fearful-of-investing/ (https://www.breitbart.com/clips/2020/10/28/cnbcs-cramer-decries-no-stimulus-deal-future-covid-lockdown-has-everyone-fearful-of-investing/)
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CNBC’s Cramer Decries No Stimulus Deal — Future COVID Lockdown Has Everyone ‘Fearful’ of Investing
Error 404 (Not Found)!!1 (http://www.youtube.com/watch?v=mZlLqidZy7E&feature=emb_logo#)
Trent Baker 28 Oct 2020
Wednesday on CNBC’s “Squawk Box,†network anchor Jim Cramer voiced his concern over potential lockdowns in response to a recent uptick in coronavirus cases.
Cramer said it is a “shame†Congress has not reached a deal on additional stimulus because lockdowns could provide a major blow to the market.
“I just think that there’s going to be a call for lockdowns the likes of which we’ve seen in Chicago,†Cramer said. “And I think that the lockdowns without the stimulus equals what we’re seeing. And I think it’s a shame because had there been stimulus, we would then be focusing on earnings, and the earnings are actually pretty darn good, even if it means that some of them are by cutback, but some of them are by good revenue growth.â€
“It’s very hard to buy a lot of stocks when you see these numbers. And it’s a shame, too, because I think that with stimulus, we’d be very tempted to own some of these stocks,†he added. “But right now, I think everyone’s just fearful.â€
Cramer went on to predict Congress will be forced to act on additional stimulus by Inauguration Day.
“I think that when you see 14 million people laid off in hospitality within the next month, it’s certainly realistic to expect that something gets done,†he advised.
more
https://www.breitbart.com/clips/2020/10/28/cnbcs-cramer-decries-no-stimulus-deal-future-covid-lockdown-has-everyone-fearful-of-investing/ (https://www.breitbart.com/clips/2020/10/28/cnbcs-cramer-decries-no-stimulus-deal-future-covid-lockdown-has-everyone-fearful-of-investing/)
Kind of looks like fear of a Biden presidency is spooking the market.
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How about we dump the lockdown and stimulus as a package deal? We have no clue as to the efficacy of a vaccine, and this borrowing is going to look pretty silly when the monetary / fiscal crises arrive and the virus is endemic.
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Never been a fan of Cramer. Kind of consider him the PT Barnum of the Fin circuit.
But on this issue, he is spot on. A lockdown is directly correlatable to life or death of business of how we know it in the United States