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Jim Cramer: The pandemic led to ‘one of the greatest wealth transfers in history’

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Posted By: Tptems, 6/6/2020 8:18:30 AM

The coronavirus pandemic and corresponding lockdown made way for “one of the greatest wealth transfers in history,” CNBC’s Jim Cramer said Thursday. The stock market is rising as big business rebounds from state-ordered stoppage of nonessential activity, while small businesses drop like flies, the “Mad Money” host said.

Comments:

Cramer discusses in the video section of the article that the stock market doesn’t give a true picture of the economy; it gives a picture of the future of big businesses rather than Main Street.

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Reply 1 - Posted by: stablemoney 6/6/2020 8:57:13 AM (No. 434473)
Small business dropping like flies is not caused by the pandemic. It is caused by leftists keeping small businesses closed. It is caused by the left insisting on social distancing and masks. Many people do not want to wait in line outside, or wear masks. A business needs customers, and making them unwelcome is not the road to success. In short, the left stinks and so do their policies.
27 people like this.

Reply 2 - Posted by: ronniethek 6/6/2020 8:59:11 AM (No. 434478)
And so? PDJT ,has done all anyone could reasonably hope for to help us get out of this
15 people like this.

Reply 3 - Posted by: poliposter 6/6/2020 9:05:42 AM (No. 434491)
I know some very well off seniors who got stimulus checks, because they are basically "low income." They felt guilty about it. My own child, a full-time college student, received a stimulus refund from her college. This was not the same as a refund on room and board. She felt guilty about it. She said that she understood that she was entirely supported by us, her parents. I told her that she will be paying for that check many times over in her life time, so cash it. Meanwhile, single proprietors couldn't get PPP loans since they had no employees. Politicians are absolute morons.
14 people like this.

Reply 4 - Posted by: Delilah 6/6/2020 10:25:35 AM (No. 434637)
I donated all my $1200 to my church and various charities. Felt I did not deserve it as I'm on SS + pensions + IRA distributions and am proudly supporting myself nicely.
10 people like this.

Reply 5 - Posted by: JimBob 6/6/2020 2:36:53 PM (No. 435031)
It seems to me that this Cramer guy - yea, the one who runs his mouth- loudly- all the time, is sort of like Krugman. I do not know that he has EVER been right..... on ANYTHING. On the other hand, Bezos owns the WaPooPoo. The WaPooPoo supports the Democrats, who support the Lockdown (to kill the economy and supposedly hurt President Trump)..... but 'Locking Down' and closing local businesses means that people buy stuff online, which helps Amazon, which is run by (and Billion$ of Amazon stock is owned by).... Bezos. The Circle of Influence and Wealth Transfer is complete.
2 people like this.

Reply 6 - Posted by: swarfer 6/6/2020 3:34:10 PM (No. 435095)
I too felt guilty getting a stimulus check then I thought about how much of my tax money the government has given away to worthless countries, causes, regimes and people. That was the end of that, I cashed it.
2 people like this.

Reply 7 - Posted by: Jesuslover54 6/6/2020 4:22:42 PM (No. 435124)
People forget about the incredible zeal and entrepreneurial chutzpah of our fellow Americans, I am not worried about our country. Look how we turned around in just 3 years, and now we will pick up from that point and carry on.
1 person likes this.

Reply 8 - Posted by: Winstonian 6/6/2020 4:55:11 PM (No. 435140)
Cramer is reportedly has a net worth of $100 million. Wanna guess where most if not all his wealth came from?
1 person likes this.

Reply 9 - Posted by: red1066 6/6/2020 11:17:42 PM (No. 435454)
Has Cramer been right about anything in his life?
1 person likes this.

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