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A moment of stunned silence…

October 30, 2009 3 comments

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MSNBC’s Hardball with Chris Matthews show was the scene of an uncomfortable pause when Jim Cramer of CNBC’s Mad Money show explained in plain unvarnished language why you are looking at years of unemployment unless working time is shortened.

Despite all the talk of an end to this depression, and recovery is right around the corner, Wall Street has a plan B.

You can access the clip by clicking on the picture; sit through an obnoxious commercial for mucous remedies or some such; and scroll five minutes into the interview to hear this:

“What’s happened in the last six months is that corporate America has decided, ‘you know what, we’re not going to fire any more people.’ But, where I feel Obama is going to be most challenged is when we do see hiring, Chris, it’s not in this country, American companies want to hire overseas. Why? Because those economies are growing much faster than ours. They will fire five people in this country and will hire two people in Brazil.

Just to be clear about this: With Jim Cramer, this is not a warning. It is investment advice from a Goldman Sachs alum.

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