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], a stock that you had recommended on May 15. I believe your response, since it was based on comments about Europe, was actually about STD [STD
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], which is the Spanish bank by the same name. Can you clarify your comments (on the air), since you hit the “Bear” button and I don’t think that’s what you intended. --BruceCramer says: “I didn’t look at the symbol, I heard Santander, and I thought it was the Spanish one. My bad. I regret it. I like the Chilean Santander. And I think it that yields more than 5%, and I think that Chile’s a great place to invest. So my bad, and I apologize.”
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Jim: I keep hearing on various financial cable programs how Obama's redistribution of the tax burden from people making over $250,000 to those making less will be bad for the economy. Yet I've also heard that 70% of our economy is based on consumer spending. If Obama puts more money in the hands of the majority of the consumers in this country (who make less than $250,000), won't that be a big push for the economy, and in turn, for stocks? --Laurence in Iowa
Cramer says: “Everyone hold their ears here because I know this is going to sound really bad and very contrary, but if you make more than $250,000 maybe you should be paying a little more tax. I do, and I’m willing to pay. A lot of people make a lot less than I do and they should be paying less tax.”
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Jim: A big ole stu-stu-stu-stu-stuttering ba-ba-ba-ba-ba-ba-oooyah to you...In light of your show forecasting the bottom of housing next year, do you think it would be a wise idea to get into some of the home builders you mentioned, such as KB Homes [KBH
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], Centex [CTX
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] and Toll Brothers [TOL
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]? Are they on the uptrend? And, if so, which specific one do you prefer? --John in Washington, D.C.
Cramer says: “I don’t want to recommend any homebuilders. I’m just saying that they’re telling you that homebuilding’s going to bottom…what I think is important to point out is that I’m not recommending the stocks. If you have to own a housing stock, you have to own the index (PHLX Housing Sector Index) because I don’t trust most of them.”
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