Cramer Sez High Unemployment is Good for America...No, Really It Is

[bcassill]

Cramer is at it again. First, he tries to make the point that firing workers is good for the stock market (although he makes no mention of the real reason the market is up: i.e. FED liquidity and high frequency trading). Next, he laments the unproductivity of America as the reason for why workers keep losing their jobs (i.e. we make too much $$$). Meanwhile, his buddies at GS pay a 1% income tax and have a record year for bonuses. Talk about some folks who make too much money. Please explain what is right about this? :rolleyes:

Anyhow, enough about my rant. Here is Cramer plus some good commentary:

http://www.fundmymutualfund.com/2010...-is-right.html

[stanley2008]

Re: Cramer Sez High Unemployment is Good for America...No, Really It Is

Cramer is at it again. First, he tries to make the point that firing workers is good for the stock market (although he makes no mention of the real reason the market is up: i.e. FED liquidity and high frequency trading). Next, he laments the unproductivity of America as the reason for why workers keep losing their jobs (i.e. we make too much $$$). Meanwhile, his buddies at GS pay a 1% income tax and have a record year for bonuses. Talk about some folks who make too much money. Please explain what is right about this? :rolleyes:

Anyhow, enough about my rant. Here is Cramer plus some good commentary:

http://www.itulip.com/forums/faq.php...-is-right.html

Actually Cramer is right - Booya!

I don't think he said it's good for America - just good for those companies who get to cut the payroll burden when things are slow.

Yes, it's sad for the worker, bad for America etc, but that's not his point - he's talking stocks not morals.

[sunskyfan]

Re: Cramer Sez High Unemployment is Good for America...No, Really It Is

he's talking stocks not morals.

As Yoda once said ... "that is why you fail"

[jheis]

Re: Cramer Sez High Unemployment is Good for America...No, Really It Is

Unless the companies export all their products, they will themselves also be negatively impacted in the end by laying off employees or outsourcing to foreign countries. Unemployed people tend to purchase fewer goods.