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We recently published a list of 7 Stocks on Jim Cramer’s Radar. In this article, we are going to take a look at where Mizuho Financial Group, Inc. (NYSE:MFG) stands against other stocks that are on Jim Cramer’s radar.
Jim Cramer, host of Mad Money, took to the airwaves on Monday to offer his perspective on the recent market downturn and the S&P 500’s plunge into correction territory last week.
“Let’s establish what we’ve been through, a correction, that’s what we’ve been through. It’s a technical term, meaning a drop of more than 10%, which is what we had in the S&P 500 as of last Thursday.”
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Cramer expressed concern over comments made by Treasury Secretary Bessent, which he found troubling. Bessent, according to Cramer, suggested that corrections are generally healthy for the economy. However, Cramer noted that this correction feels different. He pointed out that most of the business leaders he has spoken with are genuinely concerned about a looming recession. Cramer emphasized that this correction is not caused by the usual factors, such as a change in the Federal Reserve’s stance or a market overreaction. Instead, he believes the primary issue is the fear of a recession triggered by the U.S. government.
Cramer further referenced Bessent’s comments about his 35 years of experience in the investment world, in which he claimed that corrections are normal, but excessive optimism in the market can lead to a financial crisis. Cramer found this viewpoint interesting but also noted that not all corrections are created equal.
“He’s talking like all corrections are the same. That couldn’t be further from the truth. Most corrections are not like the one that we have for the last few weeks. You can get a correction because the Fed changes its stance, the market got too exuberant, foreign problems have been exported to our shores, stuff like that but that’s not what we’re talking about here.”
Cramer highlighted the general public’s concern over the rising levels of government borrowing and the fear that it could lead to an unsustainable economic situation. He added:
“Here’s the bottom line: There doesn’t need to be a transition period of pain. There only needs to be some sort of certainty to the process. If we know what the president’s planning ahead of time and stopping our allies from abusing us, it makes much easier to make investing decisions for businesses and for you. We get that and then the correction’s over. But without it, the market will have a hard time staying positive and we’ll just be glad we had two days to catch our breath before the next beat down.”