[video] Jim Cramer Quick Take: This Shutdown Is Reckless
NEW YORK (TheStreet) -- The potential government shutdown is weighing on equities Monday, but not by as much as most would think, TheStreet's Jim Cramer told Debra Borchardt.
The budget deficit and debt ceiling create a "double whammy," he said, which is why he has raised a lot of cash in the Action Alerts PLUS portfolio. He added there are a lot of people who want the government to default, just to prove a point.
Aside from being reckless, this standoff is also disruptive to the Republican party. As a result, House Speaker John Boehner is losing negotiating power, according to Cramer.
Nonetheless, anytime the market is down moderately, it's reckless not to buy some of your favorite stocks, he said.In the meantime, Cramer said AAP is still holding cash to add to positions when the market is down substantially. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV