Let's talk about the stimulus package.
Apparently, an agreement has been reached. But now, Bernie Sanders and a couple of GOP senators are pushing for changes.
So, is it too soon for investors to get excited about a package that hasn't passed yet?
Jim Cramer weighed in.
Watch the full video above for more.
Yesterday we saw a lot of back and forth between Democrats and Republicans. We heard a lot of football references actually. We heard that Nancy Pelosi said that they were in the red zone. Chuck Schumer said that they're at the two-yard line. So Jim, should investors stay in the red zone until we get an official announcement of what this package entails?
Look, I think that this is very much, we're now on the course for 2008. And 2008 is the government provides something which we're all thrilled about because we thought it wasn't going to be provided, but it only answers one point of the equation. [In 2008, they] helped the banks, but there were so many other companies besides the banks that were going under that it didn't matter that much. Here, we're helping both Main Street and we're helping some big business, but one thing we're not providing is the customer, and the customer is scared. Not because they're afraid of losing their job or not having the money, but because they want to practice, they're very torn.
You have a hero like Dr. Fauci. When you listen to Dr. Fauci what to do is you go out very warily and very sparingly and you stay away from people. You separate, you make sure that younger people aren't with older people, but that's what happened in Milan. It's happening in Madrid. And those are things that do not make you feel like going out for a slice, and I think that that's the big problem. We have to make it so that younger people, and I say younger people, people who are 50 to say 10, feel like, "You know what? I can go to Starbucks and I'm not going to get sick, and I can see friends and I can go to a game." And until that happens, all you're doing is tiding people over.
Can that happen? Absolutely, this is happening in China and in Taiwan. But we're late, we're getting mixed signals now. We don't who's right. We don't know about an April 12th opening because there's really nothing that makes me feel that we're going to be ready by then because Dr. Fauci hasn't given me the green light. When Dr. Fauci says it's okay for me to go out and have dinner, I will reopen my restaurant, the one that I personally run, which is Bar San Miguel. I will be delighted to buy people a Corona without making even any jokes, and we'll be back to business. But Dr. Fauci has to give me the all-clear, not the president, because the president is not a medical guy.
Now, I know the president has unbelievable ratings. They're soaring. People like in the country like the way he's handling it, I'm just looking at the Gallup poll. But there's a man who stands behind him, you can't see him, it's Dr. Fauci, and since Dr. Fauci was the person who stopped AIDS after seeing every patient die for eight straight years. This man has seen death, this man does what's dangerous. When he says, "You know what guys? It's okay," then it's okay with me.
I understand that, look if I were the president I'd been pushing to say, "Listen, we've got to get to see over right now. Let's quarantine the elderly. Let's test, test, test the younger people, let them get back to work." I mean, so I don't begrudge the president for coming up with an April 12th, but you have to do the ventilator and you have to do testing in order to make it so the April 12th works. And we're not there yet, because I don't know any nation to be there yet, other than a communist country that can control its people with totalitarian way. So yeah, I'm not as disparaging the president as most, I'm just confused about what to do.