"[Jim]Cramer: ObamaCare Could Derail the Economy"

[MarkCharles]

Here's what he said:

CRAMER: This is a... look, I think the debate is a fabulous one to have, but it is completely taking away from the fact that we are going to have a hard time hiring once this plan is put in place. I've had a couple of CEO's come on just in the last few weeks. When you talk about whether they want to hire, this is what they bring up! You know Chipolte which may be one of the great job creators in this country and they pay a lot for their people. This is a company that is very forward.

When I asked them, I said what does Obamacare do for you? They just say, nothing we hope because the Supreme Court has got to say no to it. I mean, this is the front and center of what could derail the economy. […]

Health care reform in general! I'm just saying, look, the issue, the Catholic charities are front and center […]

Business leaders fear this more than anything. They don't want to hire. It's part of the underground economy that's going to develop because no one wants to reform the books, because of Obamacare.

And people have to recognize that this is a front and center issue for every CEO I deal with. And another reason they don't want to hire people here, is they want to hire there. They want to put the jobs in Asia. They want to put the jobs in Mexico, because they don't want to think about how much more it's going to cost them to hire a new person

video and full article here:

http://crooksandliars.com/karoli/cramer-obamacare-could-derail-economy

[rfranklin]

1. The only truth here is that CEOs want to exploit the lowest paid labor possible...

and put the difference into their pockets. Health care insurance is no longer an issue when you offshore the labor component.

[marmar]

2. Why does anybody listen to this discredited fraud?

nt

[GoCubsGo]

3. Cramer who?

Is that the schmuck who said "Bear Sterns is just fine!"? People still listen to him?

[dmosh42]

11. Still the "Absolute tool" of Wall St!

[ProfessionalLeftist]

4. Cxo Greed + unjustified "fears" do not reality make

Just because some CxO(s) "fear" Obamacare doesn't mean it will tank the economy. We can all sit here shivering in our boots exclaiming "The sky is falling!". That doesn't make it so.

As for their sending jobs to Asia well there is no matching their greed, is there? The only healthcare reform acceptable to the GOP and their corporate owners is NO healthcare. That's what they're saying.

And that brings us to this: IF we had single-payer healthcare NOT tied to employers or jobs, then this wouldn't be an issue for them, would it?

So they're chicken-shit out of sheer ignorance, they're greedy, and they refused to support the ONE thing that would relieve them of having to deal with providing employees healthcare at all: single-payer.

To cap that, they're ignorant and pathetic.

[SmellyFeet]

5. Businesses have said the same thing about MINIMUM WAGE forever.

Almost all of them are still in business and making millions.

[Ikonoklast]

6. Chipotle "pays a lot for their people"???

Cramer must be talking about upper management, because no one who works at the store level makes squat per hour.

And he doesn't want Chipotle to have to pay for health care for their employees, so let's see, low pay, no bennies = Job Creators pocket more dough.

Cramer is a fuckwit.

[Initech]

13. Mad Money is a show to make white collar middle managers feel safe.

That's all it's designed for - people who aren't the actual workers and people who will never be a CEO of anything. It's just keep them in line to do all their dirty work, and keep the actual bosses infallible. That's why this crap continues to exist despite Stewart and Colbert's efforts to make them the failures they really are.

[HughBeaumont]

7. Yap, yap, yap, tool for the 1%.

What's a guy on CNBC GOING to tell you? That anything associated with a Democrat is GOOD for this country? These guys fluff the proven middle/working/poor class failure that is Reaganomics daily, so what does that say about them??

[MarkCharles]

8. Love that cartoon! Thanks for that! n/t

[EC]

9. Nonsence

is he saying that if all of a sudden people actually started going to Chipotle's they won't hire people to serve them? If they had business, they'd hire. They likely don't provide insurance for hourly people anyway, so what is Cramer even blovating about? Insurance at places like this is only for Management, which they only hire when the existing has reached a wage too high for them to pay and they fire him/her and replace with someone at a lower wage.

On edit: lately I've been hearing many repubs saying insurance shouldn't be employer related...so I'm wondering what's up their sleeve. Are they going to bring forward any med program that is not related to employment?

[MarkCharles]

10. The ONLY thing Republicans have up their...

sleeve is the same nonsense they have up their rear end: more money for rich people, less taxes, bigger profit margins, all that SHIT!!!

Republicans would simply END mandates for health care nationally, enabling employers to drop it from their benefits packages, thus requiring individuals to purchase it privately, at higher per capita premiums, more profits for the insurance company.

One company in Texas offers health insurance to individuals and pays out 47cents from every dollar they collect. They have tens of thousands of people insured. Think of the money they get from $4000 to $5000 a year per person.

[Initech]

12. Like I care what Mr. Business Epic Failure thinks.

[newspeak]

16. I'm a single payer proponent

maybe he should look at little boot's big pharma giveaway and how much that sleezy greedy bill increased the deficit. Talk about captive consumers. No buying drugs from other countries (really, they just want to keep you safe), no allowing medicare to arbitrate with arsehole drug companies and then there's the donut hole. My in-laws in september reached the donut hole moment, and my MIL told her doctor, she wasn't going to get the medicines because she couldn't afford it.

Anything, anything, no matter who suffers; as long as a damn corporation can make a healthy profit!!!!

[Initech]

18. That's all it seems to be about any more isn't it?

These CEOs are lusting after profits the way Gollem lusts after his "precious". I've come to a theory that WWIII isn't going to be what everyone thinks it is - I think it's going to be us vs. the uber-rich - one country at a time.

[otohara]

14. I Heard Him Say Business is Moving Towards Obama

re-election -

He probably got hammered for that comment and had to come up with something
to scare his right-wing audience.

[grantcart]

15. I heard it and I don't think he got hammered

They care more about what Obama has done with allowing the stock market to return than anything else.


The most interesting thing he said was that the CEOs he talked with were originally open to Romney but that most have told him they are unimpressed with him as a candidate, and as a CEO.

Leaveraged buyouts is a lot different than hiring people to actually do something.

[JHB]

17. Still image from video:

"ObamaCare Could Derail the Economy"

By the way, anyone know where Cramer was ordained?

[Odin2005]

19. That means it will help the economy, because he is always wrong.

[MarkCharles]

20. Exactly right! And so concisely said! n/t

[ProfessorGAC]

21. GAC To Cramer

Prove it. Find one piece of economic theory that is supported by actual macroeconomic events, and then we'll take your predictions seriously.
GAC