A 1-In-100 Blogger: Jim Cramer, Kudlow on ObamaCare and the Economy

Friday, March 19, 2010

Jim Cramer, Kudlow on ObamaCare and the Economy

Previously I wrote about the dangers of ObamaCare, recently posting a PJTV documentary video which covers the truth about socialized health care. On Thursday, my favorite two stock market guru's, Jim Cramer and Larry Kudlow, got together to discuss how to protect your stock profits from health care if it passes this Sunday.

Mad Money host Jim Cramer expressed his concern about ObamaCare to Kudlow, upon which they both agreed the health care bill is a disaster waiting to disrupt the economy more than the prospect of it already has.

Cramer said during Mad Money, investors better prepare their portfolios. He expects a sell-off, “maybe even a big one,” if the health care bill passes.

Cramer told Kudlow that the affect this legislation could have on the economy will be devastating, as American businesses weigh the resultant costs against hiring new employees; thus, increasing the unemployment rate and slowing the economy even more. We are reminded that the passage of Obama's health care bill is only part of his overall agenda, which includes raising taxes on capital gains and dividends.

Cramer said ObamaCare would force another sell-off later in the year as people lock in their gains before any new tax law could take effect. Accuracy in Media reported earlier that Cramer expressed concern that the health care bill ‘could break the back of treasury’.

As for Kudlow and Cramer's perspective on where to protect your stock profits it the health care bill passes? They both agreed that Gold is the safest investment as a counter-play to the falling U.S. Dollar. Cramer insisted he will be increasing his Gold portfolio if indeed health care legislation is "deemed" to have passed the House. Likewise, Kudlow also said he hopes ObamaCare isn't passed and that Gold will not be the best investment, but agreed with Cramer that it's looking more and more like the safest place to protect your profits.

If ObamaCare fails, the economy and the stock market, and America's current health care system wins big time.

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