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Jim Cramer: The only way to beat COVID-19 I believe is to risk a recession

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"If we do not do something such as this six-part plan, we're going to have a severe economic emergency situation on top of the public wellness emergency situation," CNBC's Jim Cramer claimed.

Jim Cramer on Thursday claimed "these are not regular times," contacting lawmakers to discover the lessons of the monetary situation as well as act to avoid a pending dilemma.

The CNBC host damaged down what his concept of a "enormous federal intervention" would look like to aid health and wellness authorities obtain a grip on the fast-spreading coronavirus outbreak. Previously, the Senate terminated its arranged recess following week as lawmakers on Capitol Hill debated a financial feedback strategy.

The "Mad Money" host urged that bold activity currently can avoid a worst-case scenario in the U.S. economic climate, stating "the only method to beat COVID-19 I believe is to run the risk of a recession."

" We need to slow the spread of this virus and that means rules versus event, guidelines that make people stay home, regulations that are really poor for company," Cramer claimed. "That's why we need a massive government treatment to maintain businesses afloat."

Cramer advised that legislators set up a "wholesale postponement of federal taxes," allowed the U.S. Division of Treasury borrow $500 billion at reduced rates of interest to money the government and also recover back taxes after the COVID-19 outbreak is solved.

To stop local business from declaring bankruptcy, he suggested the government offer interest complimentary loans to facilities that maintain their head count and offer paid authorized leave through the downturn, he said.

Authorities should set up government backstops as well as guarantees on rotating credit report to minimize stress on the banks, restricting the chances of a monetary dilemma, Cramer claimed.

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22 Thoughts to “Jim Cramer: The only way to beat COVID-19 I believe is to risk a recession”

  1. UPPERHAND7576

    SHADOW SHOW JIMBO:,…..GARLIC & VIT.D FOR DA MASSES!!!

  2. Chris Smith

    Slow down the teleprompter Jim at least once before you retire

  3. Ty Rou

    Jim. You’re drooling what’s up with that?

  4. Budiman Tedja Saputra

    Are Joking me Jim ?
    Covid as your Countriesn Spread, only One of the impacts on the fake U.S Market. LoL~

  5. Mass YZ

    OK professor of Pandemic affairs lol

  6. Beko Billi

    Really now,ressaion was round the corner long before Corona

    1. Chris G

      Couldn’t have said that any better. Where are all these talking heads like in December and January talking about the bullmarket lasting longer and the virus wont affect the world… where are they now?

    2. MIke M

      Trump got lucky with this virus because he can blame the downturn on it.

  7. nafnaf0

    Jim has a plan, this is Jim’s plan

  8. Musab

    Are we not already in a recession?

  9. Jimmy Topete

    Yes sir, hit it on the spot!

  10. koban4max

    He got the virus.

  11. Hionconsumption

    Wasn’t this the same man who was saying buybear Stearns stocks when they were going bankrupt? Who would listen to this bozo?

  12. Emperor'sNewClothes

    Headline is accurate!

  13. Oleg Malashevich

    May be depression?

  14. Steven Bain

    1.5 trillion is 4 grand for every american. That would have helped.

  15. TheChangNetwork

    risk a recession? a recession is a guarantee at this point and was so when china shut off an entire province’s economic activity.

  16. Sam Rich71

    The poor spend and the rich save !??
    Isn’t that the greatest riddle of all time?!
    We were always told that the rich capitalists invest their money to create jobs ?!!!!!
    Hahahahaha !!!!!!

  17. Andrew Lim

    Jim: “To ensure coronavirus doesn’t cause a financial crisis.” ……🤔

  18. shawn corrigan

    looks like everyone will get a much needed lesson in economics, supply chain and toilet paper shortages !

  19. Da C.

    Not going to happen. Government would rather the economy collapse than let the middle class not pay taxes.

  20. co2 hashoil

    GREGORY MANNARINO NAILED IT!

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