The 2020 Democratic presidential candidate field is a little too far to the left for Jim Cramer’s liking as the group, with the exception of Mayor Pete Buttigieg, could be worse for markets than current President Donald Trump.
Cramer is convinced that the Democrat field is full of people who want to confiscate wealth, while also noting that he doesn’t mean tax wealth, but confiscate it as “they make Obama look like Milton Friedman.”
The upcoming election is one of the main potential headwinds Cramer sees on the horizon and the potential presidency of one Bernie Sanders is something that bothers him the most.
“The elections keep me up at night as I fear that Bernie Sanders could sweep both Iowa and New Hampshire and I have to at least get a couple hours of sleep. For heaven's sake, we want to have cash ready if Sanders wins either state or both,” Cramer said.
Cramer also said that a sweep for Sanders in Iowa and New Hampshire could be seen as a positive thing, as that increases the chances that he is the Democratic nominee as “he may be the least electable of the major Democratic candidates when it comes to the general election.”
Additionally, a Warren/Sanders presidential ticket could ensure that the Senate stays Republican and the climate of deregulation maintains course unimpeded. Regardless of who wins, Cramer’s final take is that investors need to keep their emotions out of investing and as always rely on the data to make their decisions.
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