This article was originally published by Tyler Durden at ZeroHedge.
Jim Cramer on Thursday called for the federal government to immediately print $500 billion to address the coronavirus outbreak, and suspend all taxation during the crisis.
“Everyone owes the government at all time. Everyone in this country, individuals, corporations. That has to be suspended right now so they have more money,” he said.
“Are these radical actions? You bet they are,” Cramer added. “This is the time for radical action and the action can be done by the federal government.”
“They know nothing,” the CNBC host began to rant, referring to the government’s response to the crisis, ” there are no signs anyone in government understands the problem.”
“We know more than they do, and that’s not acceptable either,” he added.
Cramer also recommended that companies tap their credit revolvers and that there should be no stigma attached to it when they do so.
This is a DIFFERENT TIME. Only the Federal government can get us through this. ONLY. NO ONE else is big enough. This is my last shot to help this situation. The laughed in 2007 at me. NO MORE LAUGHING
— Jim Cramer (@jimcramer) March 12, 2020
His comments come on the heels of President Trump’s prime-time Wednesday address in which he announced that travel would be suspended to most of Europe for 30 days in an attempt to slow the spread of coronavirus. He said he will also ask Congress to provide payroll tax relief for Americans – and would instruct the Small Business Administration to “provide capital and liquidity” to small businesses.
The moment we may all remember, shows the power of @jimcramer and @CNBC – Jim calls for the federal government to back liquidity and credit. Instantly gets phone call on live TV, returns to say the White House is discussing his plan. pic.twitter.com/bs1u7h3Vfw
— Robert Frank (@robtfrank) March 12, 2020
Cramer’s Thursday comments were reminiscent of his infamous “They know nothing!” rant in 2007.
‘They have no idea how bad it is out there… NO IDEA. They know NOTHING!’
Of course in 2008: ‘Bear Stearns is fine.‘
Investor Peter Schiff disagrees with Cramer, big time:
Crazy @jimcramer just advocated live on @CNBC that the Federal Government suspend all taxation and just "print the darn money." A new low for economic thinking from the network that claims to be number 1 in finance!
— Peter Schiff (@PeterSchiff) March 12, 2020
Has @JimCramer ever considered what would happened if everyone stayed home from work, no one produced anything, no one paid taxes, but the government just printed trillions of dollars out of thin air and effectively dropped them on the populace from helicopters?
— Peter Schiff (@PeterSchiff) March 12, 2020
The feeling was largely mutual across Twitter, though some agree:
JIM CRAMER: THEY KNOW NOTHING. THEY KNOW NOTHING. I WANT THE FEDERAL GOVERNMENT TO KNOW MORE THAN ME.
Cramer's remarks after calling for a Fed rescue of any S&P 500 Company that goes under during this environment. "#Captialism"
— John Tuld (@BradHuston) March 12, 2020
https://twitter.com/RudyHavenstein/status/1238094814152982528?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1238094814152982528&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Feconomics%2Fthey-know-nothing-again-jim-cramer-calls-government-suspend-taxes-print-way-out-covid-19
Jim Cramer just called not bailing out the banks the “let them eat cake” way of handlinga financial crisis. What an absolute ass backwards statement.
— Trailduster6bt?? (@trailduster6bt) March 12, 2020
https://twitter.com/VGKnightinArmor/status/1238103556705550340?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1238103556705550340&ref_url=https%3A%2F%2Fwww.zerohedge.com%2Feconomics%2Fthey-know-nothing-again-jim-cramer-calls-government-suspend-taxes-print-way-out-covid-19
I agree with Jim Cramer, where are the Hank Paulsen’s of the current administration, it needs decisive measures to placate the market and recover some semblance of rationale. It is absolutely ridiculous that all trust and confidence can simply go up in smoke!
— bulldog (@rivock) March 12, 2020
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According to Trump, Lighthizer, and Navarro, “Yellow man bad” until you need something. On Thursday, the Office of the US Trade Representative said they were dropping tariffs on face masks, stethoscope covers and blood pressure cuffs. The Most Exceptional Country in the World now desperately needs something China makes…so you don’t hear “Chinaman bad” anymore. Buncha hypocrites.
After all China has been accused of doing, I wouldn’t blame them if they refuse to supply these things. But I don’t believe they think like that. Only the grifters in DC act with no empathy. China is now sending help to other countries since they basically have the corona virus in check.
Maybe this will teach our country a lesson that we should not put all of our eggs in one basket.
“Yellow man bad” until you need something…The Most Exceptional Country in the World now desperately needs something China makes…so you don’t hear ‘Chinaman bad’ anymore. Buncha hypocrites.”
Gandhi’s Salt March:
h ttps://en.wikipedia.org/wiki/Salt_March
Franklin’s testimony against the British Stamp Act:
h ttps://alphahistory.com/americanrevolution/benjamin-franklins-testimony-parliament-1766/
To be independently productive is a form of civil disobedience. I liked portrayals of traditional, Chinese life but don’t particularly feel that I need anything.
Yeah Right,
Here’s an alternate take on your Sino-philia Bub,
China, under existential food security threat ELECTS to disperse a lethal pathogen into the Bio-sphere with the intent of thinning their herd of peasants…knowing full well that their political system – Tyranny – will allow them to control the extent of their internal losses while also knowing just as well that the West’s political organization will be unable to cope with things similarly, thus clearing the field for them to further increase their influence in the World.
What’s not to like? Get rid of excess population which left unchecked in the face of a collapse of their food supply would result in eventual REBELLION AND disrupt the West to the point of Paralysis…
Dwell on that for a bit and see how that affects your ‘sensibilities’…
There is NOTHING that the Central Committee FEARS as much as the do the thought of Uprising; it strikes absolute FEAR into their hearts whenever the spectre arises. I CAN’T WAIT until the Chinese population catches on to what their OWN leadership has done to them…tens of thousands of Chinese Party Officials hanging from lamppost everywhere. Gonna be a GOT TIME in the Town when that happens, you betcha.
JOG
My take. It didn’t come from some shouty televangelist or Bible tchotchke store, but from independent reading —
One of the strong points of universal, basic income is that you cannot inflate a currency, paired to units of time.
Rev 6:6 said, “A measure (choinix) of wheat for a penny (dēnarion)”
measure, choinix — (less than our quart, one litre) (or as much as would support a man of moderate appetite for a day)
penny, dēnarion — From the parable of the labourers in the vineyard, it would seem that a denarius was then the ordinary pay for a day’s wages.
I ancient times, the leadership was not simply allowed to collect ever more citizens, as a mad cat lady, and neglect them to the bitter end, having overextended carrying capacity. Eligibility for public office was measured in agricultural productivity. Have you ever read these political ranks, from Bible times?
h ttps://en.wikipedia.org/wiki/Timocracy
Beautiful. I hope the Chinese are telling the truth. They have zero reasons to do so..
https://www.zerohedge.com/geopolitical/will-coronavirus-kill-new-world-order
Its nothing more than a overhyped strong version of the Flu. Something that occurs every year. And every year they Hype that you need to get a Flu shot. Ive never had a Flu shot and never will. Every year thousands die from the Flu. and every year many more thousands get the flu and get better. Its being used to control people and make money. and its being used as a political weapon . The fact is its all Bullshit. It actually whish it was real. We need a great culling.
The COVID 19 pandemic is an extinction level event. It will constantly circulate again and again, mutating as it goes, with no immunity. If you quarantine everyone, the economy tanks. No one works. Grids go down, and 90% of the people eventually die.
If you let it run it’s course unimpeded, people start dying by the hundreds of thousands, the whole world starts freaking out. There is a run on banks and grocery stores, no one goes to work, and you end up with every business failing. Once again the grid goes down for lack of workers.
In both cases, it ends up the same way. Mad Max for a short time…then extinction. It’s called a dilemma…no solutions.
Then again, mebbe it’s “just the flu bro”.
I need a drink.
BULLSHIT!!!!
“Only the Federal government can get us through this. ONLY. NO ONE else is big enough.”
But muh Capitalism tho…
https://www.youtube.com/watch?v=bQu2SVFF-cU
“There is a dark & wickedly sinister agenda behind this whole Coronavirus thing. It is not what they are telling us. There is a book about the stock market crash of 2008. It was a managed crash. There was an election that needed to be won. A managed crash of the stock market was necessary. It worked. That election was won.
Now, there is another election that needs to be won and the same people, and companies are panicking the public about the Coronavirus. The main stream media has become an instrument of propoganda. This panic is tanking the stock market.
Based on the CIA World Factbook, there 7.7 billion people in the world. There are 333 million people in the United States. Add in the 40 million illegal immigrants, there are upwards of 370 million.
World wide, there has been less than 4 thousand deaths to date. The death toll is slowly creaping up, but it doesn’t match up to the level of panic that the media is causing.
Why are companies & schools in the United States closing down when not even 100k people are sick and less that 20 people have died?
Why are companies like Twitter, Facebook, Citibank, etc., encouraging their employees to work from home “to avoid getting sick?”
Why is the media hyping this disease up?
Why aren’t they talking about influenza when 81,000 people around the world, 16, 000 in the U.S. have died from it this year?
We have had the worst market crash ever because of the Chinese situation with covid-19, but according to news reports, less than 4 thousand people in China, a country of 1.4 billion have died.
Why is the whole world shutting down?
People in high places have stated that they are willing to lose money in the stock market if it will get rid of this President.
Because of media hype, the President and CDC are forced to react.
HUGE RED FLAG, The president asked for 2 billion dollars to combat this virius. Democrats said, nooooooo! We need 8 billion: and actually gave the 8 billion to him. Hummmm.