President Donald Trump said Iran may have seized two tankers in the Strait of Hormuz Friday, after Iran's Revolutionary Guard says it seized a British tanker and several news...World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
What if the federal government handed you a check for $1,000? Would that go to that new pair of shoes you've had your eye on? Dinner for the family? Credit card bills? The possibilities are endless. A solid grand to 117 million taxpaying households in the U.S. adds up to a lot of money.
Jim Cramer can just see it now. People would rant about how the rebate would reverse the direction of the federal government's budget deficit. It would head back to the horrendous levels of 2009.
$1,000 is approximately 1.3 percent of household income. That's not chump change to most.
"Some would argue it would mean nothing to the U.S. economy or the consumer's budget anyway. Only a rich person would be that insensitive," the "Mad Money" host said.
Here's the good news: you could have already received that $1,000, but from another source. Pretty sweet, right?
It landed in your pocket from a combination of the Persian Gulf nations, non-Opec trading partners, and U.S. oil companies.
These entities outside of the U.S. have been making money hand over fist for years from oil, and Cramer thinks it is about time that this cartel that kept oil unnaturally high priced for so long return it back to hard working citizens.
The Fed has been trying for a long time to create additional disposable income to stimulate demand and purchase power. It can't do that by cutting taxes, increasing wages or cut the spending necessary for people to maintain their job and lifestyle. But oil? That's perfect.
Americans spend approximately $2,912 every year on gasoline. The drop in oil prices has led to a decrease of $1,000. Thus, an increase in disposable income that the Fed has been trying to create.
Yet for some reason instead of celebrating this fabulous rebate, many seem focused on how hard the energy industry will be hit and possible job cuts.
To clarify, only 1 percent of job growth in the past four years has come from this industry. Not 1 percent of jobs, that's 1 percent of growth.
Read more from Mad Money with Jim Cramer
Cramer Remix: Buy into this weakness
Cramer: Charts show 2015 the best year for stocks
Cramer: Don't freak out! Here are the facts on oil
Only one small oil company has gone bust and had 700 layoffs. Does Cramer expect there be plenty more? Yes. But the $1,000 is needed far more in households than the oil kingpins.
"I say the crimping of the domestic oil industry is a small price to pay for 117 million households that were spending way too much at the pump until just six months ago," he said.