on Friday that there's a "growing and significant disconnect" between economic data in the country and the stock market's valuation."
"When you look at the data this morning, household income went up due to government support. What that tells you is unless we see a significant ... [additional] round of government aid to provide support for households in the economy. That seriously calls into question the economic rebound that the White House and the market has priced in for the third quarter," Brusuelas said. "It calls into direct question current equity valuations predicated on such expectations.
"That's the bridge to the vaccine" for Covid-19, he added. "We don't want to be in a situation where we're so far away from the vaccine that many businesses close." People get excited when restaurants reopen and report that same-store sales are "only down 40%," Cramer said. But he argued that trend is not really sustainable for operators unless they are large national chains.
"I just think there's just a lot of unemployed people who don't have a lot of hope," he said. "We need those people back in the workforce."
Translation: Give us more tax dollars that we may continue filling our coffers.
Sputtering out from irrational exuberance is to be expected.
Of course the Stock Market is what’s most important 🤡
Apparently the stock market didn't get the memo. In the two months since March 23rd’s record low, the S&P 500 has risen 33%. By all means lets dump more make-believe cash into businesses with little or no oversight. I'm sure no one will take advantage or cheat the system. NOT!
It’s a FED driven market and not value driven. Asset prices are distorted to fool the investors. Kiss the equity market goodbye. Another 20-30% percent correction is coming in the market.
Do we want government propping up the stock market? Is that the real issue of the day? So a stimulus package is needed for the market? Seems like socialism and a free market just collided is some strange twist.
jimcramer how about this disconcerting fact.Most folks who got round 1 PPP will see those funds disappear June 8th.Those of us (restaurants but others as well) who cant open or have to open at diminished capacity will lay off millions the week after next and be back to square 1
Hah, so your saying we don’t have a free market
as_i_decay good Jim CramerKanobi, the dark side is strong with you....
Agreed. It’s temporary.
You mean that without Socialism for losses Capitalism is dead. You mean that the retirement fund Ponzi scheme will end if we don't debase the currency more while lying about inflation. You mean you are a fraud.
Typical of CNBC to continue talking about stimulus when there are fires burning. Emblematic of the Wall Street v. Main Street discussion.
I’m more worried about the 103,000 virus deaths and the unrest throughout the country.
Cramer has been consistently wrong; the markets have gone up 30% despite Cramer's negative comments. Cramer is an ultimate contra indicator.
Must be awful having to worry that stocks won't keep going up everyday forever.
then why not push to reopen we can not just keep printing money there has to be a better plan than that
lol lol lol bullish , thanks cramer , fed buy all
Cramer is a criminal, along with everyone else employed at the CNBC Concast hedge fund pump & dump boiler room operation disguised as business news, we have a really stupid and corrupt FBI SEC for sure..
Yo should follow what’s happening in Minneapolis
Is that what cramers worried about...👀