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.
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“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.
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 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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