Skip to comments.'Mad Money' Cramer: Health Care Passage 'Will Topple the Stock Market'
Posted on 03/19/2010 5:34:49 AM PDT by Rufus2007
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 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."
(Excerpt) Read more at newsbusters.org ...
Even Cramer gets one right from time to time.............
He is wrong on this. The Market has already factored in that it will pass. Betting on Wall Street right now is 80% think it will pass. Insurance stocks will rise.
It’s actually a valid investment strategy to do the exact opposite of whatever Jim “Buy Lehman!” Cramer says to do.
I don’t believe it. Odds are this will pass, or at least nobody could be betting that it won’t right now. And the market is up big this week.
Eventually, there will be major repercussions in our economy, but I doubt the market is going to tank on Monday if the bill passes.
MAO-bama-Care will eliminate insurance companies.
Joe Biden: "You know we're going to control the insurance companies."
Its actually a valid investment strategy to do the exact opposite of whatever Jim Buy Lehman! Cramer says to do.
Precisely, Cramer is a craven dem flunkie. For all his talk of free markets he is a lickspittle socialist at heart. Screw him and his predictions. The only thing he knows how to do is follow a trend. He has no idea how to create one.
they will be getting a large number of people buying private insurance with federal subsidies
If Cramer is right watch for the President to announce that the plan will be delayed until the economy improves. That right there could mean after the angry American electorate votes out all those Democrats (and a lot of RINO’s) the plan will never become law.
Why would this make insurance (health, I presume) stocks rise?
Insurance stocks will rise because they are the short-term beneficiaries of Obamacare. Temporarily acting as the insurance “agents” of the gubmint, they will see a rise in the number of “customers”, thereby increasing their revenue in the short run. But the gains will be short-lived, as the gubmint will eventually eliminate them from the landscape... think of it as the “perversity of the street”, with money managers only thinking of the next reporting quarter rather than the long term growth and strength of the market.
If I recall, Cramer had HIGH PRAISE for Barry...so anything he “predicts” is cr*p.
Nah - Cramer is the best contra-indicater I've seen.
Time to buy big!
The fate of that legal betting pool called the stock market will be the least of our worries should NancyCare come to pass.
I’m beginning to think that if the Democrats KNEW passage of this outrageous bill would crash the stock market, increase unemployment to 25%, bankrupt the country and put Americans out of their homes and into cardboard boxes, they’d still vote for it. Gotta make Obama look good, and gotta advance Socialism.
When’s the last time Cramer was right on anything?
He said Bear-Stearns was a great buy at $40, a couple of days before it collapsed.
He was massively wrong on something else a few months later.
Whatever it was he said would happen (market up, market down, I don’t recall) if Scott Brown replaced The Swimmer, the opposite happened.
Why should any credibility be attached to anything he says?
Note the walking-distance metro stop. Park anywhere and ride the metro in.
Or drive around the Capitol and gridlock traffic while honking thousand of car horns.
GM, Chrysler and banks were the test companies. Health care is the big enchilada. If they succeed in Ocare, nothing will stop them from taking other industries over.
Next in line: gas and energy
Over $3 gas this summer will prompt the moral outrage once again, and Obama will deem it necessary to make gas and energy affordable to all Americans.
You know its coming, folks. We are living in a time of unprecedented government greed under the guise of humanitarianism, not seen since the likes of FDR.
The downtrodden will eat it up, especially those in high unemployment areas. More and more dependency on the government means more votes for liberals.
If this isn't stopped now, this will create a permanent cycle which will ensure Democrats will always hold office.
We are living in trying times, there is no doubt. The fate of our country is on the line.
It really is, do or die.
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