What Jim Cramer’s ‘They Know Nothing’ Taught Him About the Coronavirus Response

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Jim Cramer and 'Jimmy Chill' have learned a thing or two since his famous "They Know Nothing" segment in 2007.

Watch the full video above to understand what he's learned since the financial crisis.

Video Transcript:

Katherine Ross:
Jim, I really appreciate your answers spanning across all industries because I focused on the restaurant worker. But the truth is, we're seeing this across multiple industries. I've got friends who worked on Broadway who are now unemployed and trying to file for unemployment benefits. It's a very tough world out there right now, so I really appreciate all the insight that you brought to us today. [crosstalk 00:13:56]

Jim Cramer:
Yeah, it's just, again, look, I'm not crying wolf. In 87... I mean, I'm sorry, in 2007, I was raked over the coals by everybody. Laughed at by the Federal Reserve. You know, I was saying they know nothing, was accused of yelling fire in a crowded theater where there was a fire. And I've learned. Jimmy [inaudible 00:00:14:17] has learned. Don't do that. It didn't matter. You tried to get everybody out, and it failed. Okay. I'm not trying to get everybody out. I am saying that your savings will be tapped very big unless the government writes you a paycheck and that that's a shame because I don't want you to lose your savings.

Jim Cramer:
And there are all these calls about let's have a moratorium. That again, is rich people talking. I mean, a moratorium means the rich live off their savings and the poor live off their savings. But the poor haven't saved anything. I didn't take those seven courses in Communism at Harvard for nothing, but people have to recognize before they say something, think about the impact on the worker. Because the worker is who needs to be protected because that's the base of our country. And if you're not worried about the base of your country, then you're shameful and you will be outed by me.

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