Jim Cramer, the host of CNBC’s “Mad Money,” recently made some eye-catching comments about the 2024 presidential election and its potential impact on investors. During a segment on CNBC, Cramer suggested that those concerned about their finances should support former President Donald Trump.
“If you’re in the stock market, if you care about your paycheck, you go with Trump,” Cramer stated. When pressed by his co-host David H. Faber, Cramer explained his reasoning: “Yeah, well, he wants to cut your taxes.”
BREAKING: CNBC’s Jim Cramer says, “If you care about your paycheck, you go with Trump.” pic.twitter.com/GGhxmQsx5h
— Leading Report (@LeadingReport) August 5, 2024
This exchange took place against a backdrop of market turmoil. On the day of Cramer’s comments, the stock market experienced a significant downturn. The Dow Jones Industrial Average dropped over 1,000 points, marking its worst performance since September 2022. The Nasdaq and S&P 500 also saw sharp declines.
Cramer didn’t limit his commentary to Trump, however. He also had positive words for Vice President Kamala Harris regarding her decision to bring in Tony West, her brother-in-law, as a close adviser. West, an attorney who served in the Obama administration, was described by Cramer as a “business person.”
The CNBC host contrasted this move with what he sees as a lack of business experience in President Biden’s inner circle. “There was no business person really that close to Biden, except for Gina Raimondo, so this is a nice change of pace, a lot of business people surrounding Harris,” Cramer noted.
These comments come at a time when the economy is a central issue in American politics. Just last week, President Biden made a bold claim about his economic achievements.
When asked about his legacy for younger generations, Biden responded, “That I cured the economy. And the environment. And a few other small things.”
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The contrast between Biden’s optimistic view of his economic record and the market’s recent performance is completely disjointed. As the 2024 election approaches, it’s clear that economic issues will continue to be a major focus for everyone.
