The coronavirus pandemic has disrupted our everyday lives.
And, for many Americans, layoffs are becoming a real concern.
So, what should you do if you're worried about your job?
Jim Cramer has investors backs.
Here's what he has to say.
Watch the full video above for more.
Jim, this next question I'm going to ask, I ask with a very heavy heart, but I do think that it's very relevant in today's world that we're living in currently. And that is, should you be paying more attention to your portfolio losses when the reality is you may not have a job tomorrow?
Well, you have to count on what I think is a very amorphous urge from the President about... that everyone is going to to be protected. The pecking order, I think, should be health care workers. They have to be sure they're being paid, compensated, for their time. The government should do that, wherever it is. Even state governments can run out of money, so the federal government... It would be great if they just stepped in and said, "Listen, everyone who's in the health care... You have unlimited resources. We're going to do this like it's a Manhattan Project." And then we have to protect the working person, and the federal government's got these plans. I wish they were more specific. But until they are more specific, then I think there's going to be tremendous amount of fear. And we've got to deal with that.
And we've got to get over this fat cat notion that what we need is a payroll tax cut. The people who [inaudible 00:09:46] been blown out, W-4 and 1099 people... They're not helped by that. I mean, that's just another thing where the rich get richer. We know that one of the things that went wrong in the Great Recession is we rewarded reckless behavior. Now, it's certainly not reckless to own a chain of restaurants, because you didn't predict on COVID. God love you. I think you're terrific. You're probably rich, and you have to think about who's not rich. We're a society that tends not to want to make those determinations. But we do make them, in retrospect, all the time. And we do 20/20 analysis, saying, "Why did we help the wealthy? Why didn't we help everyone?" So let's start from what we've done wrong and get that money in people's pockets. But again, amorphous analysis does not work.