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Cramer: Stocks Can’t Gain Without Better Leadership from Obama

By    |   Thursday, 26 Aug 2010 07:55 AM

Stocks will continue to slide until President Barack Obama shows stronger leadership in his economic policy, says CNBC star James Cramer.

“With the right push from the president of the United States, virtually all the negatives we're fretting about today could partially be fixed,” he said on his “Mad Money” show.

“The president has enough firepower to blast aside the obstacles standing in the way of higher stock prices and a stronger economy. We just don't know if he has the will or the inclination.”

When it comes to housing, Obama should make clear to the nation that he will do everything he can to lift demand, Cramer says. And the president can point out what a great time it is to buy a home, with prices and interest rates so low.

Obama also should stop fighting against business, Cramer says.

“Think about how good it would be if he pledged to grow the economy by working with business, not against it — to collaborate with the fat cats in order to figure out how to create jobs, including incentives like payroll-tax forgiveness.”

Thomas Sowell, a senior fellow at the Hoover Institution, has an even harsher assessment of Obama.

The economy won’t recover until “this administration is prevented from driving us deeper into the hole,” Sowell told Newsmax.TV. “This fall’s election will be the last chance to stop that.”

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Stocks will continue to slide until President Barack Obama shows stronger leadership in his economic policy, says CNBC star James Cramer. With the right push from the president of the United States, virtually all the negatives we're fretting about today could partially be...
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Thursday, 26 Aug 2010 07:55 AM
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