Jim Cramer is a journalist, lawyer and investment guru - quite the interesting character. About as smart as they come.
He writes at CNBC and is looking at who benefits from the COVID lockdown. Hint: it is not We The People
Jim Cramer: The pandemic led to ‘one of the greatest wealth transfers in history’
The coronavirus pandemic and corresponding lockdown made way for “one of the greatest wealth transfers in history,” CNBC’s Jim Cramer said Thursday.
The stock market is rising as big business rebounds from state-ordered stoppage of nonessential activity, while small businesses drop like flies, the “Mad Money” host said.
“The bigger the business, the more it moves the major averages, and that matters because this is the first recession where big business … is coming through virtually unscathed, if not going for the gold,” he added.
Of course - Walmart and the other big box stores come out on top while the local hardware stores and retailers have to close their doors and some close for good. Hertz is the sole failure and they were on the glide-path to crashing regardless of what happened.
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