Once upon a time, a whole two months ago, Jim Cramer, the hyperactive American television host, was famous for his love of free markets and equities.
Now, he has a new focus: persuading Donald Trump’s White House to issue “war bonds” to fund the fight against Covid-19. “War Bonds — it is time [for] 30-year, trillion dollars [at] 2%,” he tweeted this week, declaring that domestic investors “want this piece of paper. We want to win this war!””
Will Mr Trump listen? It is unclear. Larry Kudlow, Mr Cramer’s former colleague at CNBC who is now chief White House economic adviser, says he is “all for” war bonds as “a long-term investment”.
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