By Daily Mail (U.S.) | Created at 2025-04-01 19:26:41 | Updated at 2025-04-02 22:34:45
1 day ago
CNBC’s Jim Cramer had some stern words for the president this week, after the latter sent the stock market into a tariff-spurred tailspin.
The host of Mad Money said on the air Monday Donald Trump is the 'one man standing in the way of a great economy', eventually comparing him to the late Democratic President Jimmy Carter.
Americans disillusioned by inflation under Carter's term in the late 70s voted overwhelmingly for Ronald Reagan in 1980. Over the next eight years, Reagan essentially repaired the American economy, experts like Cramer have agreed.
Likening avowed Republican Trump to left-wing Carter, a one-term president, is likely to go down like a lead balloon.
The administration's much-anticipated new plan for tariffs, meanwhile, are hours away and set to be unveiled after the market's close at 5pm Tuesday - sparking a storm of uncertainty.
Despite being one of the most recognizable faces in finance in the entire US, Cramer famously got things wrong in 2008.
That was during the then ongoing financial crisis, when the personality advised viewers not to worry about Bear Stearns, before the bank's immediate collapse. Many lost their fortunes as a result.
Emerging Monday with some similar, full-throated confidence, he tore into the commander-in-chief to say the country needs 'less Jimmy Carter, [and] more Ronald Reagan', and that Americans are 'scared' by his strong-arming stategy.
CNBC’s Jim Cramer had some stern words for the president on Monday's Mad Money, after the latter sent the stock market into a tariff-spurred tailspin.
He proceeded to compare him to the late Democratic President Jimmy Carter, whose term in the latter half of the 70s was marred by inflation
The stock market has fallen sharply since Trump was inaugurated in January
'Everything about this economy is good. Everything, everything except one thing: We have a president who is very angry at everyone,' Cramer said at one point during his spiel.
'His wrath has made investors so downcast and so negative that people have just given up.
'They want nothing to do with stocks,' he continued, as screens in the background flashed stock market losses seen earlier in the day.
'We have declining inflation, except the president’s putting on inflationary tariffs,' he said, pegging Trump as the problem.
'We have incredibly low unemployment, except where it’s caused by the Trump administration,' he continued.
'We have a market that was doing extremely well last year, until the Trump Administration sowed the level of uncertainty that I can’t recall any time since - Are you ready...? - Jimmy Carter.'
Cramer credited Carter's presidency as the 'the last time people were really worried about inflation [and] stagflation' - the latter being a term used to categorize a high inflation, stagnant economic growth, and raised levels of unemployment.
'Back then, stagflation was real,' he said, recalling a time where oil supply disruptions and price hikes brought on a period often called the 'Great Inflation' - one often blamed on Carter.
'Back then, stagflation was real,' he said, recalling a time where oil supply disruptions and price hikes brought on a period often called the 'Great Inflation' - one often blamed on Carter
'As far as the stock markets are concerned... we need less Jimmy Carter, more Ronald Reagan,' Cramer advised, mentioning Carter's successor often credited with repairing the economy. Reagan is seen swearing in for his second term after winning his first by a landslide over Carter
'I know it’s a brutal comparison. You think I did it idly?' Cramer exclaimed.
'I cannot think of another president in my lifetime who could knock down the stock market simply by opening his mouth than Jimmy Carter.
'Eureka! I have found him!' he concluded - again blaming Carter for a cratered economy some experts have blamed on his previous president, Richard Nixon.
When it came to explaining the selloff seen Monday - which has since been alleviated slightly by a rebound recorded Tuesday - he said: '[Americans] are sure the White House will keep laying on the tariffs that seem to be wiping out your wealth and my wealth.
'In this environment, it’s a wonder anyone’s buying anything, unless they think that the one person who’s standing in the way of a great economy,' Cramer explained.
He went on to offer the conservative some advice, though not of the financial sort.
'If Trump can lose the anger, drop the scowl, stop diminishing our friends and rivals while making common cause with our enemies, and generally start acting like he did in his first term, well, that would be huge for the stock market,' he said.
'As far as the stock markets are concerned, though, we need less Jimmy Carter, more Ronald Reagan,' he concluded, adding, 'Maybe Wednesday isn’t de-liberation day.'
The president - seen here disembarking Air Force One Friday 0 is set to unveil his massive tariff plan on Wednesday, a day he is dubbing 'Liberation Day'. He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China
Instead, 'It’s just the day when American investors may be finally liberated from the president’s not-so-pro-business attitude,' Cramer said. 'Once he gets the tariffs out of the way.'
The president is set to unveil his massive tariff plan on - as Cramer mentioned - Wednesday, a day he is dubbing 'Liberation Day'.
He has already imposed tariffs on aluminum, steel and autos, along with increased tariffs on all goods from China.
He has also warned that more than $1 trillion in trade could still be affected, spurring even more uncertainty.
