Jim Cramer Explains How the U.S. Cases of COVID-19 Change the Market Narrative

Publish date:
Video Duration:

The U.S. now has the highest amount of cases in the world, with 97,000.

There are over 585,000 cases worldwide, with over 26,000 deaths. 

Watch the full video above for more.

Video Transcript:

Katherine Ross:
So, oil's a crucial part of the markets, and I'm wondering with the stimulus bill, kind of we're waiting on the vote on that, but with the US moving up in case count to be the highest in the world, is that having an impact on the market narrative do you think?

Jim Cramer:
Yeah. I mean, we're really, there's different parts of the country that's approached this, sadly, like what happened in 1918. We had the ... you know, it's really incredible ... we had the playbook from 1918, the Spanish Flu, the Great Influenza. The playbook was very clear, which is that, there's the Saint Louis playbook, where you did basically social distancing, you didn't go outdoors. And then there was the Philadelphia playbook, which was they held a giant war bond rally for 200,000 people and they ended up having the most deaths. It was almost instant. You knew which one was right, and somehow, Mayor de Blasio, somehow the people who run the [inaudible 00:01:59] didn't play with it. They just used the Philadelphia playbook and California, San Francisco, used the Saint Louis playbook.

Jim Cramer:
It was plain as day which playbook was right, and it's almost criminal what happened here because when you see what's going on in New York, you know that they just chose, not the stupid option but what I regard as being almost a criminal option, since you knew what killed people and knew what didn't. And that's why New York has become, what I regard, as an unnatural disaster. A manmade disaster, and it's just horrendous. So, it's front and center. Now look, so is Madrid, where my daughter is. They had what? 770 deaths yesterday. It is still out of control. It is proving to be very difficult unless you truly invoke a sort of martial law lockdown. Stay home. New York's the opposite. People still playing basketball. They're at the subway. Obviously if you didn't ... if they just made everybody stay home, the numbers would drop. Otherwise, numbers would keep getting bad and it's really affecting everything.

Jim Cramer:
Obviously, people, I'm sensing the idea that people are getting very, very sick or dying. And one of the instances happened with social media is I think there are no hawks that are more hawkish than I am about China trade. I feel very, very strongly that the Chinese has hosed us for years and taken advantage of us, and that our presidents have been complicit. I don't think anybody, even including Peter Navarro, are tough as I am because I've had this position for 25 years. But I do say that we have to go to them and say, "You've got to give us some of those masks and some of those ventilators because you have excess supply because you beat it. And if you give it to us, maybe we'll even start talking about trade in a different way." So, that's one of the things that I find really important.

Catch up on the Latest Videos on TheStreet!

Related Videos