Cramer: Fret All You Want
One thing is certain, though. The banks will be the biggest winners if this happens. They have been saddled with terrible and declining net interest margins. If Bernanke walks away, I am sure that will change immediately. They would become the go-to group, for certain, and that's huge for this market -- because the financials are, arguably, as much as 20% of the entire market.
So worry. Fret. Sell off the market. I just don't think it will matter that much to the economy. If prospective home buyers believe rates are about to go up, that will force them into making a decision to buy a house when there are still houses left -- one more spur to the U.S. economy.
I know this Wall Street Journal article is going to spur some selling. I just urge you to think about what you are going to sell. Is it really going to get hurt? Is Clorox (CLX) immediately going to 3.5% because of the bond change? Is General Mills (GIS) going to 4%?
Perhaps.But I wouldn't bet a lot of money on it, because many already are. At the time of publication, Action Alerts PLUS, which Cramer co-manages as a charitable trust, had no positions in the stocks mentioned.
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