More Stimulus, Please!

Tough data point, the employment number. Lagging. But when you see it, the number doesn't feel like it's lagging. In fact, it is thesis-busting, as in, "We aren't getting better, let's stop fooling ourselves." It just feels like, "Come on, we know the truth, we need to have a second stimulus plan."

That will be the battleground for the second half of this year: further budget-busting vs. putting more people to work, because we sure aren't doing a great job of putting them to work.

I know there are all sorts of highway construction jobs out there and I know that money's beginning to be spent, but we need something done about jobs now, and it isn't carbon tax and it won't be done with health care.

The market will stall out, no doubt about it, if we don't see consistently declining job loss over time. It is not enough to get good numbers from a bunch of tech companies and oil companies or banks. No one will view them as sustainable. You get a weak turn in Bank of America (BAC - commentary - Trade Now) and no turn at Citigroup (C - commentary - Trade Now) with these numbers.

More stimulus.

It's worth it.

At the time of publication, Cramer was long Bank of America.

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