Jim Cramer: We Have to Have a National Lockdown to Rebuild the Economy

Author:
Publish date:
Video Duration:
2:50

Jim Cramer has some advice for investors who are wondering if a shutdown is necessary.

The answer? Yes.

Here's why.

Watch the video above for more.

Video Transcript:

Katherine Ross:
When our investors, our viewers, even some club members who are tuning in to this... When they're seeing one bad headline after another... Not just the jobs report. But we're talking about cases, deaths, whatnot about COVID. How should they be separating their head from their portfolio at this stage?

Jim Cramer:
Wow. I mean, I've been weighing that exact question. Look. Let me just read you something. Because I think it really does cut right to what you're talking about. And this is an email that I got from my wife while I was on the show. And I think it's kind of where we are. Let me just... And it's about a cruise ship. There's a cruise ship that's out there. This is a CNN note. There's a cruise ship right now, another Holland... It's one of these. And I'm so angry at these cruise ships. Another Holland American one. It's heading to Florida. It's expected to dock. It's got 77 people experiencing flu-like symptom. This whole thing. I know it could've gotten here anyway. But it's the cruise ship dynamic that just upsets me. My wife says, "Why was this stupid boat ever allowed out in the water?" We have to have a national lockdown, and work to rebuild the economy after we shut down the virus. Yes, two months is awful, but not doing is going to make the economy worse.

Jim Cramer:
If we don't shut down, I won't travel. I won't go to the store. I won't go to restaurant, club, specialty shop. And that's what I think the President has to start understanding. My wife, Lisa, represents the commonality of what I think is happening in this country. We see an Elmhurst Hospital. It's, what, an hour from here? You read that story. Is it any different from the clips that we got out of Wuhan? And then you have a cruise ship that's still out there? I mean, oh my God. We left the schools open. We have playgrounds that are still open in New York City. Some people are taking this thing real seriously, like they are in California. And that gives me hope that we can reopen. And some people are just beginning to try to understand the gravity of it.

Jim Cramer:
You got to have a president who says, "Okay, that's it. We're going to shut down. We're going to bring in the National Guard. If you don't pay attention to it, we are going to arrest you. It is time to pay attention. We do not want to stay in lockdown very long, but we cannot have a lockdown work if you are out there gallivanting." So it's really time to put the hammer down so that we can have business open in mid-April.

Catch up on the Latest Videos on TheStreet!

Related Videos