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It’s pretty clear that Cramer’s co-hosts didn’t expect him to say that.
CNBC’s Squawk Box got awkward on Tuesday morning as the panel discussed reports that China’s “Zero COVID” policies may be ending in March 2023 which was causing markets to respond to the possibility of reopening. The news comes as China continues to crack down on COVID cases and went so far as to lock people inside of the Disney theme park in Shanghai until they tested negative for COVID.
Here is CNBC covering that with reporter Eunice Yoon reporting from China:
“Also, the other benefit for President Xi of having all these COVID controls is that you are very, very easily able to track people. And that’s another big benefit for this regime,” said Eunice Yoon in her report.
Carl Quintanilla replied, “Yeah, the power of the state, there’s no doubt.”
In a stunning moment, Jim Cramer appears to sympathize with the Chinese government because they have to make an about-face on their Zero COVID policy.
He said that it was a good thing that China stole the intellectual property for the mRNA vaccines so that they could make them in China.
Cramer then said that what China needed was a “propagandist” for their COVID policy and that “when we think of propaganda, we think about other regimes that we didn’t really appreciate.”
Cramer’s comments stunned co-hosts Quintanilla and David Faber into silence.
CNBC’s Jim Cramer praises state-run propaganda, stuns co-hosts into silence pic.twitter.com/yD6ohtxtXq
— End Wokeness (@EndWokeness) November 1, 2022
Here’s a partial transcript of the segment:
CRAMER: They got to deal with- what do you do if you told people the way to beat this is no vaccine and now you have a vaccine? So I think what you need is a propagandist.
QUINTANILLA: Outside of the state infrastructure.
CRAMER: Exactly.
QUINTANILLA: To start moving political opinion.
CRAMER: But I think when we think of propaganda, we think about other regimes that we didn’t really appreciate.
[AWKWARD SILENCE]
CRAMER: You’re like, silent.
FABER: I’m silent. I’m just thinking of those poor people stuck at Disney — Shanghai Disney for… I mean, it isn’t the worst place to be stuck, but still.
CRAMER It’s a real small world after all.
Is anyone shocked by loudmouth, arrogant jackass Jim Cramer rushing to the defense of the Chinese Communist Party and state-run propaganda?
It seems like he’s always on the wrong side of things and this is no exception.
At least he’s telling you exactly who he is… or maybe he’s auditioning for a new role with the CCP. Who can tell?
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