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Jim Cramer: China May Not Be the Biggest Threat to the Market, Here's What Is

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Curious about the macro market environment?

In his exclusive members-only Action Alerts PLUS investing club monthly call, Jim Cramer said that the markets in June hadn't seen such a bad macro environment since December. 

 But why?

"First, we didn't have the [Federal Reserve] yet on our side. Powell and friends were still talking a big game going into the month based on absolutely nothing. Nothing at all. The dogma that has been part of the fiasco that was the December rate hike was back again," explained Cramer. 

But what issues face the market? 

"The biggest risk to this market may not be China, it may not be the Fed, it may be the election of a president from the Democrats who is decidedly anti-wealth for those who are, well, already wealthy. Oh and let's not forget that the political backdrop is rancorous except when it comes to big tech--both parties find issues with every FANG stock save Netflix. They are either too powerful--the Democrats--or too left wing--the Republicans," explained Cramer. 

Want to know what else Cramer only told members of his Action Alerts PLUS investing club? Recap his full call here.  

Ask Cramer: 3 Signs a Market Has Gotten Frothy

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