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To people who follow the stock market Jim Cramer needs no introduction. A former hedge fund manager turned television personality Cramer reads the markets and offers investment advice on his CNBC show Mad Money.
Recently, Cramer named the biggest risk the stock market faces today. No, it’s not Iran. It’s not Mohamed Morsi. It’s not the Federal Reserve. It’s not China or even West Germany.
According to Cramer, the biggest risk to the market is today’s ever-more-radical Democatic Party.
Tony Owusu explained it on The Street:
Jim Cramer says the largest macro risk facing markets right now could be the large number of 2020 Democratic presidential candidates who are "a motley crew of hard lefters."
"Until [former Vice President] Joe Biden entered the race, every candidate was as far left as I have ever seen in my life," Cramer said during an exclusive call with members of his Action Alerts PLUS club for investors. "Any one of these candidates would be, yes, disastrous for the stock market."
Cramer said some common positions among many of the 2020 Democratic candidates -- from support for "Medicare for All" to promises of cracking down on Wall Street -- could spell bad news for stocks.
"Whether they are running to break up the big techs or to have single-payer medicine instead of health insurance or if they favor jailing innocent bankers, they are a motley crew of hard lefters that will be a disaster for the stock market unless they gravitate to the right," Cramer said.
"You may like them on the personal issues, [but] I don't talk about personal issues -- they're no interest to me [as an investor]," he said. "What I care about preserving capital, and that group of candidates does not let you preserve capital, trust me.
"So hate 'em or like 'em, I know what they do to the stock market," Cramer said. "Make no mistake about it, the biggest risk to this market may not be China, may not be the Fed, it may be the election [of] a president from the Democrats who is decidedly anti-wealth."
Some thoughts for today.
2 comments:
Stuart, this post, and Jim's prescient analysis are right on and should scare the bejebbers out of us all. Sadly, most people don't care or pay attention. These radicals will gut markets, except maybe gold, the Constitution, private property and gun rights beyond recognition.
We must do everything possible to push back with facts and history with every ounce of our strength.
Another great post. Thank you.
Dem pols should be enriched; the populace...not so much. Maybe even not at all.
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