Cramer: Silver Lining in Sandy’s Storm Clouds
They say every cloud has a silver lining. Jim Cramer thinks that may even be true in the case of Hurricane Sandy.
"Mother nature dealt a vicious, lethal blow, and our hearts go out to all the people who lost loved ones because of Hurricane Sandy, as well as all the people who were hurt or injured," said the Mad Money host.
However, amid all the destruction the storm may have done something else – something constructive.
"Step back and take a look at the bigger picture," said Cramer.
Tens of thousands of homes experienced damage from Sandy. Those that are insured for storm damage will get their insurance checks and as a result thousands of contractors will go to work.
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However, Cramer thinks that's small potatoes in the scheme of things; he believes there's a bigger catalyst – one that could really move the needle - not to mention the market.
"The spirit of cooperation we saw on Wednesday between Democratic President Barack Obama and Republican Governor Chris Christie as the President toured parts of New Jersey could produce what ultimately might be the biggest public works project in a generation," said Cramer.
The Mad Money host foresees a series of reconstruction projects – so-called shovel ready projects - that are so massive, they ultimately drive GDP – at a time when GDP is in desperate need of a driver.
The kinds of projects at which companies such as Caterpillar excel.
"In its own curious way Sandy has given the nation the potential for an economic boost, the likes of which we haven't seen since the Federal government stepped in and rebuilt southern Florida after Hurricane Andrew in 1992," Cramer said.
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