CNBC’s Jim Cramer predicted a possible recession by Christmas if lawmakers didn’t step up and make some sort of deal in regards to the looming fiscal cliff. His prediction came during an Nov. 11 appearance on NBC’s “Meet the Press.”
“We can gift wrap a recession by Christmas. We can set it right into place without some agreement,” Cramer told “Meet the Press” host David Gregory. He attributed that week’s stock market drop to that same lack of certainty.
The “Mad Money” host went on to elaborate on the major issues facing businesses if lawmakers fail to address the fiscal cliff. Cramer said he’s personally talked to many different people and found that businesses “don’t want to hire” because with a “series of unknowns who can take a chance? Who can take a chance with Washington? Better to scale back retail, restaurant, industrial, bank. Fire people! That’s the solution to the fiscal cliff.”
Read more: Newsbusters