Tuesday, June 06, 2006

should we be worried about a Democratic congress ?

from thestreet.com's Jim Cramer . . . . mostly he's brilliant, forget the Mad Money persona

here's his take this morning

Random musings: Guess we should be panicked that the House of Representatives might go Democratic. Sell the drug stocks. Be ready for big spending. You can bet that the budget will no longer be balanced and that federal borrowing will spike. Oops! That all happened under the Republicans, didn't it? The papers are trying to sow fear about the Republican agenda, but to me the agenda has been everything that could possibly be reckless for the dollar and stock markets, except the dividend tax cut. We have experienced an unprecedented spending binge, one that has helped make U.S. markets among the worst in the world. I don't fear a Democratic turn in the House. We had two-party government with Clinton and it worked great. Frankly, all we want out of Washington is that they do nothing at this point, and a gridlocked Congress is a recipe for exactly that. I am hoping it happens. That way we take Washington out of the equation. Good riddance!

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