“Get ready for our politicians to lose you some more money,” Cramer mentioned, referencing the sooner deadlock surrounding the debt ceiling in 2011. “They hurt you then. They aren’t done hurting you now. But unless you trade full time it’s very hard to get out and get back in early enough for it to make a difference, which means most of us need to take the pain.”
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Market watchers also are weighing the scoop of the emergence of a new Covid-19 variant in China, he mentioned. It’s unclear whether or not this new wave will suggested Beijing to impose new trip restrictions, lots of which eased up a couple of months in the past.
“We don’t know if travel will be banned or restricted, although the Macau casino stocks are trading like it’s gonna happen,” Cramer mentioned. “And we don’t know if the psyche of the recently ebullient Chinese consumer will be affected.”
With 2011’s fitful debt ceiling negotiations ringing in his ears, Cramer is pessimistic about lawmakers’ skill to return to a deal prior to chaos reigns.
“Even though we ultimately got a deal [in 2011] and averted the worst-case scenario, the standoff was enough to make Standard & Poor’s downgrade our government’s credit rating,” he mentioned.
Cramer thought to be the deserves of marketing shares prior to the prospective marketplace swoon, however frightened that many would now not have the ability to purchase them again speedy sufficient to look actual positive factors.
“I would hate to advise you to sell and then buy back later, though, because we don’t know if you’ll be able to get back in before the all-clear,” Cramer remarked. “That said, if you think our leaders are serious about making a deal, then it might be worth trying to sidestep the coming decline — and if we’re following the 2011 script, there’d be about a 12% decline from here until the bottom.”
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