Jim Cramer has some thoughts on how to get Americans to start investing.
He wrote about the issue in a recent column over on Real Money.
"The lack of a leader anywhere in any part of the firmament -- a leader who champions owning individual stocks -- is so palpable to me that I find it Sisyphean sometimes to even talk about them. Plus there have been enough scandals, enough chicanery, and a lack of punishment for those CEOs who committed them, that the individual stock bashers, the ones who sound the warning about single stock risk, have grabbed the microphone," Cramer wrote.
"They are the only ones, Michael Cembalest, chairman of "Market and Investment Strategy," has been doing some remarkable work of late about how Armageddonists have had such a powerful voice and they do an amazing job frightening people out of stocks and into bonds at what, empirically is the worst possible time to do so. They give no credit to the CEOs who build and manage amazing companies like the Apples ( (AAPL) - Get Apple Inc. (AAPL) Report), the Microsofts ( (MSFT) - Get Microsoft Corporation (MSFT) Report) and the Amazons ( (AMZN) - Get Amazon.com, Inc. Report). It's all doom and gloom," he continued.
"The media's not much better. Michael's latest piece has a remarkable bar graph entitled "the Medium is the Message: relative reporting of positive economic news on select cable programs," and there is almost no reporting whatsoever about positive economic news. My jaw dropped when I saw that it was last on the list of stories that these cable networks covered," wrote Cramer.
In TheStreet's morning show, Cramer broke down his column.
"I asked Larry [Kudlow] about that and Larry said, well, you know, that's the way the news is. But Michael Cembalest, chairman of "Market and Investment Strategy," put out a very good piece this weekend...talking about how the cable news networks just simply refused to talk about positive news, economic news. It's the 16th most important story in what he measured. He measured it himself. 16. Can you imagine? And this is the most positive economic news I've gotten," said Cramer.