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Despite a rocky financial landscape, three forces are driving the economy right now, “ Mad Money ” host Jim Cramer said Thursday.
“I want to stipulate that I am not ignorant of the big issues. I’m constantly checking every European bond auction and I am well aware that our taxes are going up, maybe, as is the case with some of us, up big,” he said Thursday. “But I keep going over these quarters that have been reported, we’ve heard from about one-fifth of the companies already, and I see three things.”
Cramer detailed three factors to watch.
Union Pacific noted that cars have been a big driver of rail traffic, a footnote that many people might have missed.
There is a possibility the U.S. auto industry will build more than 14 million cars this year, but the strength in General Motors and Ford is obscured by poor performance internationally.
“We don’t want Ford or GM to pull back from Europe or Latin America. That would just be stupid,” he said. “But I have to tell you that Ford, U.S,. Ford, would be at $15 by now. General Motors? Call it $25.”
The housing market: “How strong is housing? We’re now in the phase where even the most wildly inconsistent housing plays are working,” Cramer said.
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