tv Mad Money CNBC September 28, 2021 6:00pm-7:01pm EDT
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because my god, a lot of empty seats out there. i'm just saying. i don't know, i thought meaningful september baseball. newmont mining bounced today newmont mining looks interesting for you met fans out there that still want to talk to me >> thanks for watching ♪ my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to make not lose you a lot of money and put it in context. so we're going to try to teach and educate and make it clear
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what you can do in this environment. call me at 1-800-743-cnbc or tweet me @jimcramer. even after today's relentless beatdown, nasdaq nosediving 2.83%. i don't think it's necessarily over although you can never be too sure, so many things are going wrong at once, could mount a nice rally if anything gets a tiny bit better. i find it hard to be philosophical about losing money. i've developed a set of rules to allow me to keep calm when the market is rolling over i need you to adopt these rules so you think clearly don't think down 2.8%, time to go be opportunistic but before that, you have to nail down the proximate cause. what happened here right now you hear interest
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rate but does that tell you anything? what is going on with bonds, interest rates how is it possible for the dow to dip like that and nasdaq to be down that much? less transitory than predicted, inflation is accelerating. fed's forecast for a calmer moment is increasingly unlikely. need decelerating you've got accelerating. real bad trying to buy a home. mortgage rates starting to go higher, will make homes less affordable home builders are going full tilt to add capacity, it's not enough, that's negative for homeowners economy not overheating yet it means things are getting too hot
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to handle so stocks for home builders are crushed even though you hear of tremendous demand. this is not a normal economy, so historical precedent can only take us so far prices going up for strivarietyf reasons, most boil down to covid. people working at home, need more space they didn't come back. so many ceos, talk about february/march now pandemic got rolling, homeowners didn't prepare for it before the year began, so all inputs for new houses in quick supply we don't have enough workers new homes in high demand, can raise prices at will but can't last another reason the stocks keep going lower. they're sucking you in had avi zellman on
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she's so bearish, i'm afraid she's going to be right. because we got accelerating inflation, higher mortgage rates and can't get homes built. that's a problem something i didn't see coming. natural gas. couple of pieces of positives. natural gas is crushing us after bouncing around the bottom for ages, down more than double this year. that means winter heating bill will be a lot more expensive thanks to hurricane and lack of pipeline capacity. we know the price spike can be confidence problem cuts into holiday spending most people can't recall time when heating bill doubled. and price of crude is climbing price of gas you tend to dwell on more than price of milk
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be glad we're not in britain, have gasoline but lack truck drivers to get it to station i will say natural gas will peak first. zouky and garner said 6 to 7 it's going to peak third supply chain nightmare nobody saw coming. didn't realize economy was so reliant on imports and set up west to east no, sir vice-versa, not adjusting to new traffic and truck drivers in short supply getting things on trains has been night mmare i was hoping for relief but ceo of union pacific didn't offer comfort. said we need the pandemic to end. i found myself begging lance for
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positives, he wasn't going to give them just to make me happier. that's not the way he thinks brings me to number four, going to come back to this covid's got to end, all right? we don't know how many are today staying out of the work force because of the pandemic, maybe 10 million and now jobs are higher paid but can't find people to work. ever been to a restaurant without a help wanted sign i was hoping they would be down by this point but will be replaced by signs saying they're closed at inconvenient sttimes, can't find staff very european in not good way. infrastructure bill. you have to figure these projects will create more wage inflation. we have so many more jobs for people but given how long it takes government to build things might not need to worry until
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2023 and this is so intractable, doubt will be resolved by first quarter next year. i wish they would just raise prices to extract value for chips right now. automobile chips make up 4% of the largest foundry's production in taiwan, not going to make them out of goodness of their heart. even if they get less expensive, don't get made is powell in charge of any of this they attack him constantly senator warren attacked him. sort of unresponsible. doesn't make chip, doesn't pump oil, didn't know we can't make enough plastic, wouldn't anticipate wouldn't have enough windows, sinks, tubs, toilets, grouting floor tile, if you have it,
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direct message me. even the home builders couldn't predict it, don't get me started on the debt ceiling. might have government mandated default, push the bond prices down and buying yields up. most stocks are road kill unless the underlying companies have the ability to raise prices without hiring new workers only group that has that, oil and gas. tech is being eviscerated because they're allergic to higher interest rates and inflation. but we were practically due for a pull-back. maybe this isn't enough. could be coiled springs. stay tuned, four you must track. only touching stocks lost 10% of value. we did buying. not selling, we have plenty of cash, like the market to come down to put it to work
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this too shall pass moment sure, but it hurts not hurts the eagles quarterback. but you have to get tired of hearing people want powell to trash the economy to save it from inflation if you can take the pain, can sell if you're nimble enough to get back in at lower level bottom line, idea all six of these dice rolls will come up snake eyes, that's too easy. something will go right with one of these almost always does this will right itself worth waiting on the sidelines with new money until we figure out how things turn around or favorite stock is too low to ignore like the micron after the close. jason in new jersey. >> caller: boo-yah, jim.
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>> boo-yah. >> caller: thanks for all you do, family and i watch you every day. including my five-year-old son jason. >> he's got horse sense. >> caller: asks why you scream a lot though but gap is down, chart looks good, uptrend. fundamentals are great, own athletea and own old navy and banana republic, turning it around seems to be doing same for gap. >> i'm with you. stock did well today it's a fantastic sign. jason, good one, i like the way you're thinking. mitchell in arizona. >> caller: jim, i'm confused why is pfizer in the low 40s and moderna hovering in 400 range? >> moderna's perceived to have
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new technology to be used in lot of things, including vaccines for cancer and pfizer is regarded as having bad patent cliff and could be after 2023 in trouble. i don't think so i like pfizer and moderna too. today was ugly selloff may not be done but nobody ever made a dime panicking and not all these will continue to go wrong stay calm and know the proximate cause of the selloff i have the list here most likely one to get better i think is end of the natural gas move wish would be the chip shortage. would help most. tonight, sonos, talk to the ceo to learn about the reign up platform. market took ugly turn, taking
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down turbo charged stocks i mentioned, off the charts, four you must watch and one i think you should buy one of four, your pick investors have sight set on tomorrow's direct listing from warby parker see if it's the stock to watch then, how cool -- always thought i was cool, this is proof -- maybe not that cool, stay with cramer anyway. >> announcer: don't miss a second of "mad money," follow @jimcramer on twitter have a question? tweet cramer, hashtag #madtweets send an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something? head to madmoney.cnbc.com.
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got vaccinated reporting a strong quarter and delta variant made it seem postponed but september has been brutal down 20% from august highs not specific bad news but backdrop has changed could the stock be worth buying into weakness or should we be worried? patrick spence is the ceo. welcome back to "mad money." >> thanks, great to be back. >> i want to portray sonos the way i think it is. i like to think i'm one of the first users and still installing your stuff i think there's overlap with apple and sonos in half a million households, you're in less than 2% of that i'm taking this out of covid, if you're apple, might want to be sonos, what do you think of the
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theory >> it's a great theory as we think of the homes, we think we're in less than 10% of our addressable market, still early days and sonos is a system. once people have one, they add more we talk about customer acquisition cost and lifetime value, very different from other consumer electronics companies we're very unique in that way. while covid has been a tailwind in terms of lot of people being at home, reality is once they have sonos, they add more, tell friends and family about it and we keep adding homes we have more homes to address. >> two good reasons why, in golden age of audio and hollywood at home trend. don't seem to have anything to do with covid again. >> not at all, with golden age of audio we're in, social audio,
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podcasting, streaming. just saw the universal music ipo, how well that was received. it's amazing time for audio, people can't get enough of it. at home or outside of the home as well. and we're also talking about this hollywood at home, seeing three times the number of first-run movies going directly to home this year. now that genie is out of the bottle, going to see more of that we sell products that make that experience like the theater, we expect that to be multi-year phenomenon. >> i have a proposal, wife and i, to do sonos, using geek squad. i'm telling wife there's no way sonos can make it -- it volves six different speakers, do you think can be done in month
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i'm telling you sonos doesn't have the parts settle it for me. >> as you know, had so many guests in this regard, the industry right now probably in most challenging time it's ever been in terms of semiconductors and port delays and container shortages, you name it in my 23 years in tech, i haven't seen a period as challenged as this good news is that as we look at '22, we see more coming online in semiconductor space these are short-term issues we'll work through there's a speed bump industry wide but fundamentally doesn't change long-term trajectory of our business. >> not getting cancellations because you can't fill things this quarter >> no. i talked about this last earnings call. we watch closely our backlog and
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customer behavior around that. it's a system. now you're in the system, customers are in the system, the great news is that they're willing to wait for next sonos because already started to invest in a system that just gets better over time. people have shown patience and loyalty, and we're grateful for that, don't take it for granted at all but at the same time people have shown a willingness to wait. it's considered purchase, not impulse purchase and there's nothing quite like sonos, we're grateful customers stay with us in short-term supply challenges. >> you argue that google is infringing on sonos patents and you got ruling for five items. google thinks can engine w
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workarounds. we want sonos to be sonos, not a law firm. >> it's important to note during this period we've been dealing with google, we've been innovating and continuing to grow, focused on driving that in our business but also going to stand up for what we've invented small, innovative american company that's not going to let any tech company trample over our inventions we tried to settle it through conversations and felt necessary to take. and preliminary ruling in our favor and we'll get the final in december we're confident in the position. judge found on all five patents and we think there's 164 they violate. so we'll see how it rolls out in december >> now couple of weeks ago i was in italy, went to ikea, they
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call it ick ya there it to me has the zeitgeist of a sonos. >> partnership has been fantastic. way for us to get into a lot of new homes with different factors and price points and different countries as well. just today announced a new table lamp with ikea, a speaker and lamp combined, we're sure will be big hit like another ikea products sonos is the story of software eating audio brought the software and underlying technology into the ecosystem to reach even more homes. >> how can you beat wall street's numbers if you're sold out? >> i don't focus on that
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we're building long-term having incredible year expect 28% to 29% year-to-year revenue growth, and 150% year-to-year in adjusted ebda. we're focused on building products and delivering long-term satisfaction to customers and shareholders. >> that's what ultimately moves the stock price, people at home. if you don't have sonos, try it, it's cool. patrick spence, it's great to have you back on the show. thank you so much. >> thanks jim. >> "mad money" is back after the break. >> announcer: coming up, have growth stocks given up the ghost? jimmy chill finds out what stopped these stocks cold. next
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♪ now that the market's turned ugly again, what's worth buying in weakness? we have a couple of charts maybe? right now some of the best stocks are getting pulverized because wall street is freaking out about high inflation they think inflation is going to erode the value. however companies with powerful long-term themes, stocks don't collapse easily and when they do come down, view it as buying opportunity. rates are roaring with the debt ceiling crisis and inflation, gets resolved, rates could stabilize or go back down and kaboom we're highlighting four of the hottest cold stocks. bob lang, explosiveoptions.net behind trifecta stocks
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newsletter know your options. rare buying opportunity. these are coiled springs let's go over them particularly he's looking at affirm you know we love asana, in mode and real favorite of ours, too, upstart. rarely give you much pull-back, sees it as tremendous buy opportunity. worst case, can go lower and you can buy more at lower price. historically if you bet on one of these, it's going to make you a lot of money most home, cramer favorite firm financial company affirm give loans for trying to buy stuff. kings of buy now, pay later. i'm big believer, more than doubled since spoke to the ceo
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less than five months ago. of course got hammered today, supposed to happen more than 10%. but lang thinks treat as buy, not sell so many saying i'm so scared, get out. that's not way lang thinks firm made a monster move hire, partnership with amazon, last quarter a thing of beauty and beautiful chart even after decline. the money flow cmf, this is really an extraordinary thing. tells you whether big money manager are buying or selling. money flow has been solid and moving average divergence/convergence line. this is important momentum indicator. after a nice base earlier this summer, affirm stock exploded higher, often growing on days when the broader market was hit,
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although not today bumped up against overbought territory, right here, and when i look at this, i say ooh, i don't know, maybe a little bit too hot. but wait a second -- after such a powerful pull-back, it's no longer the case. lang says affirm is just under $115 name could run to $200 next months these are amaiding volume on the up and volume on the down is little this is a good chart next chart is asana, cloud base helping with projects and strategic initiatives. sounds like mumbo jumbo, but the
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stock has been on a tear from the 20s in may to over 100 today. even plunging 10%, like all plunged 10% today, that's a group move like this nothing to do with asana, everything to do with money managers reflexively dumping the growth stocks when bond yields are on the rise. worried about asana, the stock rsi, relative strength in overbought territory kind of same picture you could argue it was due for same pull-back but lang likes the volume trends being bullish. roaring on high volume same as on affirm, high volume, usually good sign. cmf in the middle, and v line up here are looking real good
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robust option flow, too, might be looking for consolidation in next few weeks if asana doesn't go too much lower, through here, could be excellent buying opportunity haven't had one in ages. one i've fallen in love with, piece of paper you shouldn't fall in love with but called upstart. artificial intelligence platform making credit scores irrelevant, who needs that when platform is already better predictor if people can repay their loans got hit today, all did, they're one stock. held up better because better technicals lang calls this a rembrandt, i think it's more of a cézanne. i like the shifts he did with
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the peaches and apples, but go with it. upstart exploded higher in august this move. right? rallied nearly every day for a month. higher highs and higher lows including when the market was rolling over last few weeks. remarkable run 60 to 313. lrsi has overbought reading. that's bottom always up roughly 160% since early august, due for pull-back but dips have been very shallow, rarely get a chance to buy it on weakness even today only dropped 5.6% when others were down double digits lang's view says it's great opportunity. he's buying more if it keeps getting hit. upstart is $313 stock he sees going to $400. if this turns tomorrow morning and by 11:00 is still up, these
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are good to go and this kind of rollover is over 11:00, okay? hottest stock, ben silver and i talked about this morning, this is a medical aesthetics company, minimally invasive face and body contouring some say it's better than the coolsculpt using radio waves to penetrate the skin and reshape fat tissue underneath some people do anything, you know i recommended. delta variant has peaked and there's more demand for medical procedures to make you look good again. going outside again. insane move. look at this, come on! more than doubled since spring that's why lang likes it so
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much inmode is giving you higher highs and lows nice macd line, bullish crossover, that's just fantastic. that's when the black line is above the red one. reliable signal. inmode got steamrolled today but lang points out it's been a screaming buy every time it pulls back below the 20-day moving average look at this, oh, my god this time will be no different he's looking at $200 price turn. had a huge meltdown in turbo stocks as spooked them from the group. but these are worth buying into weakness i've seen lang make these calls before after monster selloffs
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and been spot on would not surprise me if it didn't happen again. jamal in washington, d.c., please >> caller: hey, jim, how you doing? long time watcher. >> thank you, what's up. >> caller: can you give me wisdom on snap having trouble this week because of the pull-back i got earnings on the 18th, what do you think >> snap has become go-to, talk about the problems with facebook, should be thinking about the opportunities of snap. i think you'll be fine, i like the chart, too, you're in good shape. today we had a huge meltdown in the turbo charged growth charts but according to bob lang there are some worth buying. 11:00, if affirm, inmode, upstart are up, boom it's going to be good day.
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that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum!
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did well, but also a bunch of debacles aka brands that cut price range, low end $11 before opening down. thorne, opened $8.50 and packaged food company with good portfolio is trading below and even last week's big winners are coming down hard toast is down hard we got many of them very large, warby parker, hipster eyeglasses retailer i like to look at it so you have the full story don't want you buying something just because you like the brand. with warby parker, biggest problem is timing. this is a market getting tired
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of new public issues that's not best environment for glasses retailer to make debut i like the business, great model, very expensive and solid, founded 11 years ago to sell directly to the consumer, digitally and through the stores difference between them, design glasses and their own product. every other store sells third party merchandise, vertical integration, back, better than ever and staring at screens all the time, constantly wrecking our vision, more demand for corrective lenses. 8% of the market most prefer to buy them in person but they have a great web presence and lets you try on frames digitally, and 145 stores
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to buy glasses in person and feel like sometimes they've already taken over brooklyn. glasses industry is fossil, dominated with major players behind the scenes and consumers are getting robbed with the markup they want to modernize and crush the competition. so far doing well. 53% revenue growth first months of the year. very close to turning a protest. with direct listing allowed to give further guidance, so we have more meaningful set of numbers here with insight into the future last tuesday, forecast for current quarter, talking about 27% revenue growth in current quarter with 35% to 36% for 2021 25% for 2022 that's deceleration because up against more difficult competitors. last year the pandemic struck and everything fell apart.
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still 25% revenue growth seems pretty good for relatively small retailer, huh? and i like the margins heading in right direction, even if it's to the profitability yet there's nothing spectacular about the numbers, not a great story, not clean first and foremost do people like buying them online? you have to see how they work on your face. 2019 business on the web grew 5%, then 8% in covid even with the pandemic making it dangerous to go in person, still bought 92% of glasses from a brick and mortar store and warby parker wants to take this into the future or the present but easier said than done. they seem to know it, gotten aggressive expanding store count
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but more of a low cost glasses chain. i don't know, call me unexcited. second problem, markup share is less than 2% this is opportunity, lots of room to grow, but wonder if they can pull it off. virtual vision test doesn't have fda approval so not covered by vision insurance. maybe it comes through and stock gets boost, maybe it doesn't public benefit corporation, "b" corp., try to make a positive impact donated 8 million pairs of glasses to people in need since inception. that's fabulous. but people come to this board -- they come -- you watch "mad money" to try to make money in the stock market so "b" corps have a spotty track record even as i'm firm believer of the company, they care about the environment will over the
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long-term do better than those who don't. fifth problem, warby parker is doing this direct. these often struggle ones that work out, spotify, asana, saw mixed results before it took off. amplitude, opened 50, closed at just under 55. if warby parker gets similar performance tomorrow, that was good, maybe buy this one still questions of valuation latest round, $3 billion, could come in hot. in fact after the close got the reference price for deal, came in much higher than i expected, $40, must be the amplitude seven times next year's sales. similar to amplitude today, could go higher still. basically a consumer products
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retailer with 25% growth rate, that valuation makes me nervous. can't value on the earnings. bottom line, in tough market where investors are starting to sour on new issues, i think you should steer clear of warby parker unless it falls below the reference price to the 30s otherwise, put shades on, be jimmy chill and wait for a pull-back to lower level stick with cramer. >> announcer: coming up, a storm is coming, give us a call, cramer's got answers to all your burning questions, lightning round is next. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene
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>> it is time. it is time for the lightning round. you say the name of the stock. i don't know the calls or the name of the stock ahead of time. i tell you whether to buy or sell. when you hear this sound -- [ buzzer ] -- then the lightning round is over are you ready, skee-daddy? ann in california. >> caller: this is ann, action alert member, first-time caller. >> excellent. >> caller: see if i can give you a proper greeting, boo-yah, jim. >> back at you >> caller: i'm calling about pharmaceutical company called cytokinetics >> this is early stage, once again, find companies that big pharma needs, good spec. pfizer loves these guys. bowen in washington, d.c..
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>> caller: good evening, i have a mystery i need help solving. >> i've been chilling. >> caller: legal technology stock, dropped more than 25% past two weeks, nothing written about it, why it happened, why the stock sold off >> there's legal zoom. >> caller: legalzoom.com >> i've been watching, going nowhere fast can't touch it no backing whatsoever. jim in new york. >> caller: how you doing, want your opinion on stock that went public earlier this year, should i buy matter port. >> 3d cameras very hot but too hot for me, i take a pass. that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade coming up, where have all the workers gone
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moment, vanishing of the proletariat. haven't figured out where the workers have gone and causing massive disruptions. i asked if they know why people won't come back to work even for higher workers at first thought it was all the federal government enhanced benefits and figured would come back guess what, stopped nearly a month ago, and many -- many months ago some states and nothing has changed at all jobless benefits were never part of the problem why do i think we have a labor shortage bunch of reasons, thanks to stimulus checks and child tax payments they have more financial breathing room, don't have to take any job they can get, can afford to not work for a while. second, untold great wealth
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transfer going on between the wealthy baby boomers and their children even though millennials on average have less money than parents this time in their lives they're finally getting windfall from index funds they invested for their kids mooch off your parents dynamic third, immigration, for decades had bipartisan consensus in washington that immigration was good for america once trump was sworn in, came to end. regardless where you stood, government tamps down on immigration, you have labor shortage makes it difficult for people to come here and search for good jobs covid is the real cause of the labor shortage kids remaining home from school, need a parent to stay home and keep eye on them, mostly falling
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on women then the great resignation theory people used covid to rethink their lives. maybe decided trucking wasn't for them, don't want to work on assembly line, given up on the service sector, maybe just want to chill look at this way, of course people are less willing to work if there's a chance they'll get very sick, possibly die, spread the virus to their families. every in-person job is life or death job and most don't like risking life even for $22 an hour job, working next to unvaccinated person who gives them covid we need herd immunity. could get through combination of good vaccinations and bad infections for immunity. until we get covid under control we need to worry about wage inflation and commentators will keep talking about how the fed needs to slam the brakes on the
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economy to reduce the demand for labor but you don't restore the economy with rate hikes. there's no solvency with monetary policy, only way it beat the pandemic. there's always a bull market somewhere and i promise to find it for you right here at "mad money. i'm jim cramer see you tomorrow new info on gabby petito's boyfriend and his family the trip they took just revealed today. i'm shepard smith. this is the news on cnbc. >> it is obvious the war in afghanistan did not end on the terms we wanted. >> top defense officials grilled by lawmakers for the first time about the withdrawal from afghanistan. the tough questions asked and the strategic failures revealed. gabby petito's family addressing the public. >> it's an emotional roller coaster. >> demanding brian
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