Now we should get a lot of "pushing on a string" talk.
Talk that says the rate cuts won't work and we don't need any more of them.
Lots of hand-wringing talk that the market belongs much lower, and we are too quick to dismiss systemic risk because there cannot be any house price appreciation if there is no job creation.
Cramer: Get Over the Jobs Number
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Again, this kind of weak number is par for the course. With the Wall Street layoffs and
shutdowns, you can't have a good number. It is inconceivable. When you link in the housing numbers, we are lucky to be losing only this many jobs.
The market's been up a lot. We have had a nice recovery in some of the bank stocks, particularly
Bank of America
. There are good feelings about National City's bidders and about the recovery in the credit default spreads -- less risk of defaulting.
I suspect those will all take hits.
But I don't think there is anything drastic here, and if you think so, you will most likely panic out on all the recession/string push talk.
It's all business as usual. Not much else.
At the time of publication, Cramer had no positions in stocks mentioned.
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