Who Are the Real Protectionists?
The U.S. will lead the rest of the world out of this global recession, Nucor CEO Dan DiMicco told Cramer on Wednesday, but only if we focus on the problems here at home.
While some business leaders, such as Caterpillar CEO James Owens, disagree with the “buy American” sentiment in President Barack Obama’s stimulus plan, saying it makes for a bad recovery strategy, DiMicco’s all for it.
“We all need to get our own houses in order,” said DiMicco, who also serves as Nucor's chairman and president. As long as every country handles its own business, “then the whole world is going to come up.”
DiMicco emphasized how important he thinks it is that the entire $819 billion in Obama’s stimulus work its way through the American economy. If it doesn’t, he said, “we are never going to pull ourselves out of this mess, and we’ll end up in something much worse than a severe recession.”
Watch the video for the full interview with Nucor’s Dan DiMicco, where he tells Cramer who the real trade protectionists are (hint: it’s not the U.S.), what he really thinks of Obama’s infrastructure spending and the difference between canceling his company’s $2 billion acquisition plan and putting it on hold.
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