China, President Trump, Red Baiter discussed on MAD MONEY W/ JIM CRAMER
Cbc or Tweet me. Jim Cramer waited nearly all day for the president. United States take a tough stand on China given their aggressive moves against Hong Kong. Figured it'd be something extremely bellicose that would send an already. Sagging rocket either lowered the weekend but when president trump spoke he was so measured that the market was able to make a comeback Dow audibly dipping. Just eighteen points SB advancing twenty four eight percent. That's certainly one point. Two nine percent sell in may be an idiot. So let's understand idea of measure responses knocked. Though it's not China's I give response. I think you're GonNa see this as a real provocation. And they'll feel compelled to respond. Which brings us to the game plan for next week Mondays. All about retaliation from China at this point. We all know the story goes right. It always is to attack every time. President trump lands a blow over the counter blow. So we have to presume. China escalades things. If only just showed they understand the end game which seems like containment or isolation except this time. Maybe we're the ones being contained for decades refused to recognize the People's Republic China and our government treated them outlaw or the outlaw that they were then president Nixon ambitious Red Baiter. The fifties went to China. Start the long process of normalizing relations with the PR see but what stars mutually beneficial trading partnership quickly became something a lot more. Uneven China has real estate involvement in its economy and they've targeted industry after industry here in our country crushing are working people. Baking depend on on them in all sorts of critical ways that we even know about. And that's why president trump start cracking down on China. I think he made a ton of sense to take a hardline. Back when we had extraordinarily low employment booming economy John flation. That was the perfect time to wage. A trade war and By the end of last year heat extractors meaningful in disarray concessions that I liked. But then the pandemic struck in fairly or unfairly. The administration blames the Chinese Government for letting it get out of hand in the first place so the White House back when warpath trying to roll back. Everything says Nixon's open door policy. I gotTa tell you this time for escalating trade war. I Know Fan of the Chinese Communist Party and the thornberry regime with a horrible human rights. Track record a long history of corrupt trade practices stealing our jobs taking advantage of us but I am the fan of America having a strong economy plentiful job creation strong stock market right now. Our economy is struggling in any kind of taliation from China will make it even more difficult for us to recover. We don't need headache one at a time. We'll get him get him later when we're stronger noth- not when we're facing incredibly serious recession. If not outright depression not careful. And that's why I think you need to wait. Your portfolio toward recession resistant. Stocks like healthcare the consumer packaged goods place in the technology companies that help other businesses adjust to the post corona environment companies like zoom video which reports on Tuesday close. Tell me you don't know about that. Civil we all know it now right up left and calm right there. Boom we're zooming out of nowhere. Zooms become a household name. It's become a verb. It's become everything. Three hundred million users client base that seems to grow like a wildfire day. The stocks been a rocket ship in CEO. Eric you an roster. That said the expectations going into the quarter. Pretty high competition from CISCO'S WEBEX ringcentral..