Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
"These trade deals that ship American jobs overseas also have an upside for the American consumer: lower prices on just about everything. It's a bargain, some would say an unholy bargain, but this tradeoff is very real and it needs to be explored," the "Mad Money" host said.
Trump has repeatedly criticized Ford for sending jobs to Mexico. Not only has Ford done this, but so have several other American manufacturers. Cramer noted that within the small radius of where he travels to Mexico, there are plants for Toyota, Honda, Mercedes Benz, Jaguar, Mazda and BMW, too.
Mexico produces approximately 3.5 million cars currently, and is expected to grow to 5 million by 2020. As of 2015, the country was the fourth-largest exporter of cars and auto parts.
"Most of this growth … didn't exist before the North American Free Trade Agreement — NAFTA for short — which Donald Trump repeatedly trashed and tried to link with Hillary Clinton. But Secretary Clinton didn't take the bait," Cramer said following Monday night's presidential debate.
No one talks about the actual benefit that deals like NAFTA bring to American workers, namely cheaper products. Meanwhile, the average Mexican worker only receives about $3 per hour. The country has fewer worker and environmental protections. There is state provided healthcare, and very little absenteeism.
Shareholders want the companies to move to Mexico for an immediate earnings-per-share boost. More important for consumers, Mexico has kept the price of cars down because of its low costs, Cramer said.
"That is a real trade-off and we need to talk about it, rather than pretending it doesn't exist," he said.
Is it better to have cheaper cars that allow American workers to commute further away for jobs? Or are there not enough jobs to go around without the outsourced auto positions?
Cramer thinks this argument can be applied to other topics beyond cars. Trade agreements have pushed the price of clothing down so that one can dress nicely for an important job interview without spending a fortune. Meanwhile, the U.S. textile industry has been damaged.
"We want higher skilled jobs to replace them, but we don't always have a good enough education system to teach people those new skills, and there aren't enough trade schools to produce highly qualified workers," Cramer said.
At the same time, the countries that have taken jobs from the U.S., like Mexico and China, have created a large amount of pollution and have gotten away with it.
Should this be allowed? Should there be some sort of pollution tax on those goods?
Those are the economic questions that Cramer would like answered. Unfortunately, he does not have faith that the current political campaign will produce answers.
"It's our loss — I just wish American politics allowed for this kind of rational discussion," Cramer said.