Jim Cramer: We're Way Past Political Name-Calling

Publish date:
Video Duration:

Jim Cramer says now is not the time for politicians to call each other names. 

He broke down his thoughts over on TheStreet Live.

Video Transcript:

Katherine Ross:
It's just pushing people into self quarantine. Jim, based on-

Jim Cramer:
Yes, but you can't work. Let's say you're one of the 30, I don't know, thousands of suppliers to Boeing and you make a wingnut and you have a person who gets sick. Well, you can't work from home. Right? But you can't work because then everybody gets sick. So you close and the wingnut doesn't get made. And then the 787 doesn't get built and then Boeing doesn't have any money to come in and Boeing's our largest export and next thing you know the Chinese and Airbus become the providers of aircraft because of a virus that started in China and has come here.

Jim Cramer:
Now I know that the President is trying hard. Congress are trying hard. I no longer want to have a name calling, we're way past that. And what I care about are if I can help any of our viewer's portfolios, I want to do that. I mean, put it in another way in English, which is that many of the companies can't pay dividends if this changes and can you imagine if all the retirees are watching all the people who rely fixed income and and dividends, suddenly we're without them, then what would happen to our country?

Jim Cramer:
You'd have just a tremendous strain and it can be stopped. Those who just say that my plan can't be allowed reminds me very much of Lord John Russell in 1847 who, when realizing that Ireland was starving but still exporting their beef to England by the way, throughout the period he said, "You know what? It's really their fault. They're not industrious. They're potato based economy. Potatoes are bad. Well, it's time to teach them a lesson." I mean, when we look back was Lord John Russell a good man? Queen Victoria wrote a big check equivalent of something like $2 million. It's very interesting to see that the United States gave, even back then in '47, gave more money in charity than Britain to the Irish. And I bring this up because when you look at certain points in history, they're turning points in history. And one of the turning points was that the British were wrong. Lord John Russell was wrong.

Jim Cramer:
And it was really the prevailing attitude that Laissez-Faire doesn't work in a time of health crisis. I bring that up because that's a health crisis. That was a famine. That's kind of, this is a health crisis. And you can take a Lord John Russell way or you can take a way the United States would have done, which is say, "Listen, we have to be charitable toward all or Lincoln charitable toward all." I mean, this is a health crisis, no more than a health crisis, but we can easily turn it into a financial crisis if we're not careful. And that's happening and it's being reflected in the lower prices and I do want advise people to sit tight. I do believe that my plan or the ideas of the plan I have can be put into place and they'll end up blowing out with it.

Catch up on the Latest Videos on TheStreet!

Related Videos