Why this screenshot of CNBC's 'Mad Money' host Jim Cramer is 'everything that is wrong with America'
Published: April 12, 2020 at 1:13 p.m. ET
By Shawn Langlois
In many ways, last week was one of the darkest stretches in American history.
The coronavirus death toll in the U.S. — now approaching 21,000 — skyrocketed as families continued to huddle in their homes in fear of what’s next, while an unthinkable number 6.6 million people filed for unemployment amid an economy grappling with a devastating shutdown.
Yet, somehow, the stock market managed to stage its best week in decades. In other words, at least those fortunate enough to own stocks had something to smile about. Democratic strategist Justin Horwitz summed up the disconnect with this tweet that went viral across Twitter
As you can see, that’s CNBC’s Jim Cramer cheering the rally in the market while the chyron points out the grim reality of the job losses, which reached more than 16 million in three weeks.
One commenter captured much of the response on social media by saying, “The Dow is not the economy. It is a giant government sanctioned Ponzi scheme for the wealthy.”
Another pointed to the fact that, according to Federal Reserve data, 84% of stocks owned by U.S. households are held by the wealthiest 10% of Americans — essentially Wall Street vs. Main Street.
https://www.marketwatch.com/story/why-this-screenshot-of-cnbcs-mad-money-host-jim-cramer-is-everything-that-is-wrong-with-america-2020-04-12?mod=MW_video_top_stories
And now with the market lower today...................even with a oil production cut.............Toyota shutting down a car plants in Brazil..................
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A picture is worth a thousand words.
