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FRONT PAGE  |  7/8/2020
SATURDAY, JUN 6, 2020  |  3 comments
Jim Cramer: The pandemic led to ‘one of the greatest wealth transfers in history’
The coronavirus pandemic and corresponding lockdown made way for “one of the greatest wealth transfers in history,” CNBC’s Jim Cramer said Thursday.

The stock market is rising as big business rebounds from state-ordered stoppage of nonessential activity, while small businesses drop like flies, the “Mad Money” host said.

“The bigger the business, the more it moves the major averages, and that matters because this is the first recession where big business … is coming through virtually unscathed, if not going for the gold,” he added. ...


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· Page 1 ·  Found: 3 user comment(s)
News Item6/6/2020 9:36 AM
Mike | New York  Find all comments by Mike
Dr. Tim wrote:
The pandemic has been suspended while the protests are going on. It will resume Sunday morning in time for church.
NYS gov Cuomo has said that because the protesters did not maintain social distancing, mask, and numbers requirements, they will be given priority status in testing for Covid19. Isn't that nice? No requirement for turning in unused bricks was stated, though, nor threats of fines. Dare they attend church services maintaining distancing and masks, but in unacceptable numbers, however, they will be fined. Public safety is our number 1 priority.
3

News Item6/6/2020 6:37 AM
Carl in Asheville | North Carolina  Find all comments by Carl in Asheville
When the Stock Market closed Friday afternoon all of the Airline stocks were in the green for the week with American Airlines leading the way with a 75% gain. The President mocked Warren Buffett Friday for selling all of his Airline stock. The Airlines industry will receive $25 billion with 70% as grants and the rest as loans to be repaid over 10 years. Is the gain in stocks plus the bailouts a part of the wealth transfer.

Transfer from from whom? The taxpayers? U.S. passenger and cargo carriers employ 750,000 people worldwide and help drive more than 10 million American jobs. A stable, healthy aviation industry enhances job security, pay and benefits for airline employees. If Airlines were to fail completely and all of those 10 million jobs and all received $600 per week unemployment that is $6 billion per week (at least $24 billion per month); i.e. that bailout would be gone in a month.

MSNBC is one of the better business and financial networks but it is also one of the worst media propaganda machines. It is in the liberal medias best interest to downplay any all positive economic news including Friday's employment numbers and positive gains in the Stock Market. FYI: The Stock Market is 1% away from being positive for the year; an election year.

2

News Item6/6/2020 4:38 AM
Dr. Tim | Way Down Yonder  Find all comments by Dr. Tim
The pandemic has been suspended while the protests are going on. It will resume Sunday morning in time for church.
1
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