Cramer: Health Care Passage 'Will Topple the Stock Market' Because Of Amnesty For Immigrants

[babylonsister]

:wtf: What's he smoking? :crazy:


Cramer: Health Care Passage 'Will Topple the Stock Market'
'Mad Money' host predicts health care passage will embolden Congress and White House to pass amnesty for illegal immigrants.

By Jeff Poor
Business & Media Institute
3/19/2010 8:35:50 AM


While a vote on health care reform legislation appears to be imminent, should it pass it could have broader economic implications, even if the bill itself won’t take effect for some time.

As CNBC “Mad Money” host Jim Cramer predicted – if it passes, get ready to see a sell-off on Wall Street. Cramer appeared on CNBC’s March 18 “The Kudlow Report,” with his former broadcast partner Larry Kudlow. Kudlow asked Cramer to elaborate on his theory ObamaCare could send the financial markets reeling or “topple the stock market,” as Kudlow described it.

“First, it is the single biggest impediment to the stock market going higher,” Cramer said. “And a lot of this has to do with what's not being talked about enough with how it's going to be paid and also about what it will do to small business formation. This bill is a disaster for both.”

Cramer said the uncertainty this health care bill present to entrepreneurs is an obstacle, but he also explained the anticipated higher taxes that will finance this legislation are going to be another barrier for higher stock prices.

snip//

But that’s just the tip of the iceberg Cramer said. If health care passes, Obama will make a push at amnesty for illegal immigrants – that in turn will be covered by this health care legislation at a cost to every one else.

“I think this is a two-step process,” Cramer said. “The first step is this health care – which they scored it as not being that bad for taxes. You and I think that's a little disingenuous. But what will happen next, I think Obama will be emboldened as he would be – a big victory. So the next thing is a push for amnesty for people who have immigrated to the country not legally. And I think that's where you're really going to get the step in the function up in the cost of this. I wish that we would – the debate in Congress dealt more with this because what would really break the back of Treasury is a whole group of people who we never thought we'd be covering who we will be covering.”

more...

http://www.businessandmedia.org/articles/2010/20100319055725.aspx

[rurallib]

1. what a total fucking idiot - and people take financial advice from him?

[damyank913]

2. Cramer and Kudlow-10 lbs of shit in a five lb bag.

I hate em both. Supply side, trickle-down pricks.

[spanone]

3. cramer is an idiot. he's a teevee creation. i wouldn't take a nickels worth of advice from him.

[depakid]

6. Actually, the man belongs in jail for violating securities laws

[madokie]

7. Jon Stewart showed everyone that months ago

why is he still on the air?

[Supersedeas]

17. I wondered the same thing: when did he crawl out of the hole that Stewart put him in

[w4rma]

4. What amnesty? It doesn't exist. (nt)

[berni_mccoy]

5. When I was an active investor, I used to listen to what Cramer said

and then I would do exactly the opposite. I made money that way.

[GoCubsGo]

8. Cramer should worry more about his own ass

His company is under investigation by the SEC: http://mediamatters.org/blog/201003180027

Didn't he already admit to market manipulation and shorting stocks? Sure looks that way: http://www.dailykos.com/story/2009/3/5/16720/74815/703/705113

[Uben]

9. Smart money does what Cramer doesn't!

This guy is no financial guru, he is just another greedy hack trying to influence people to help himself make money. It's what he does. IT'S ALL HE DOES!

So, that means HCR is the best bet for market watchers, of which, I am one. I can honestly say I have never traded stocks on a Cramer tip. Well, that's not altogether true. I have sold when he says buy, and bought when he said sell. I made money, so those who took his advice had to get screwed. Just like Hannity, Cramer is a scam. NEver, ever, ever, trust a republican. In fact, I hate even using the the words "trust" and "republican" in the same sentence!

[Florida Blue]

10. TV networks are amazing

Continuing to let them lie without a challenge.

[Odin2005]

11. What an idiot.

[bridgit]

12. Cramer thinks unions will topple the market, he thinks anything that keeps...

the market from doing what-ever-the-hell it wants to do will topple the market - Cramer has the dream relationship he was born for pumping health insur company profits over people cause people do not matter only money and obscene slam dunk profits do

[Stevenmarc]

13. If Cramer knew anything about the stock market he wouldn't have to work on TV

He'd be making a living off of investment.

[mod mom]

14. He's under investigation:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7945975&mesg_id=7945975

[still_one]

15. Actually that is the best news I have heard. That definitely means we are in a recovery

especially if HCR passes

[Javaman]

16. He's got to stop reading bullshit chain emails.

my brother sent me just that same bullshit freakout crap email last year. I called him on it, he got pissed off and now won't speak to me. Meh.

jackass cramer does nothing more than push teh stupid forward.

[Imajika]

18. Cramer is always wrong...

Time to buy!

[Pisces]

19. How is Cramer still employed? He is like any wallstreet exec. Doesn't get anything right,

yet he is still getting paid. He should be fired for all of the bad advice he gave to investors and continues to give on a daily basis. His market prediction is more like a button pushing hoping the market
reflects poorly on Obama. MSNBC needs to fire him ASAP.

[Dappleganger]

20. We're pretty safe if we believe the OPPOSITE of whatever Cramer is spewing. nt

[CaliforniaPeggy]

21. What bullshit!

He needs to vanish...

into a jail cell.

[Union Yes]

22. Alot of people have lost a lot of money listening to Jim Cramer's investment "advice". nt

[Initech]

23. Watch as the exact opposite happens.

:popcorn:

[arbusto_baboso]

24. Why the fuck is this "man" still on television?

Is there anyone who has knowledge of economics beyond a 3rd grade level and still listens to him? Jayzus Fucking Christ on a pogo stick...

[HughMoran]

25. Let me add another "ignorant moron" comment into the mix

Cramer = :crazy: