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Web Editor, Mad Money
Cramer may be the sultan of stocks, but Dan DiMicco’s the Buddha of American business. On Mad Money, the enlightened Nucor CEO is the go-to guru for all things US economy, which is why he’s a regular guest on the show. Even the White House has summoned him for his expertise.
“No one has a better handle on this issue,” Cramer said.
Two weeks ago, DiMicco told Mad Money that the real crisis in this country was jobs. Well, after this morning’s worse-than-expected jobless claims, with states getting 11,000 more applications for unemployment than anticipated last week, the situation’s much the same. Cramer said he couldn’t believe in a true recovery until the number drops below 400,000, and that won’t happen without an act of Congress.
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But that has been DiMicco’s whole point: The private sector can’t do it alone. Washington has to step up. Otherwise its inaction could hurt an already fragile economy, which includes a struggling steel industry. Nucor [NUE
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] may have reported an upside surprise, but its business is under some serious pressure right now.
Both those topics drove the most recent conversation between Cramer and this top-notch manager. What’s the state of the steel industry? How should the government approach the employment problem? Watch the full interview to see what DiMicco had to say.
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