TODAY

TODAY   |  October 01, 2013

Jim Cramer: Stocks may go up after shutdown

The host of CNBC’s “Mad Money” talks to TODAY about the effects the government shutdown may have on Americans’ personal finances, and offers his predictions on what’s ahead for Wall Street and the economy.

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This content comes from Closed Captioning that was broadcast along with this program.

>> so much. jim cramer is host of mad money on cnbc. good morning to you.

>> good morning, matt.

>> start on main street . you're the average joe or jane and you're waking up this morning and hearing the government shutdown . you're worried about your job, your economy, the 401(k). what's the immediate impact.

>> people are worried about their paycheck. maybe my business is going to get hurt. so it's more than just convenience and inconvenience. this is about people thinking if they're paychecks aren't coming, maybe mine won't come.

>> a lot of analysts have been reacting to this for the last couple of weeks. we had the record highs on september 18th and it's been going downhill since then. what are you expecting today?

>> i think it's going to be up.

>> why?

>> business as usual . every time we have sold through one of these, 2011 , 2012 , sequester, it doesn't go down. you end up missing a great opportunity.

>> so investors have reacted over two weeks. in some ways were they also anticipating not the threat of a government shutdown but the next battle, the fight over the debt ceiling.

>> that's where people are too complacent. the first punch we absorbed. the second is surprising. people are concerned that the government might default. i don't think they will.

>> when we talk about the potential impact of a shutdown on the economy are we talking about it impacting it fundamentally or emotionally?

>> i think just emotional for the shutdown because we have been there before. there's been a ton of them. they usually don't hurt earnings but when it comes to the debt ceiling that's about bonds. you don't mess with bonds.

>> real quickly, you have been talking to a lot of ceos. these are the people running the companies that are going to deal with the new healthcare law. are they saying to you that they think it was worth shutting down the government over this healthcare.

>> no, they have all pretty much gotten used to it. they figured out how to have the paychecks adjusted. they figure if it doesn't do well they'll readjust. i don't know any ceo that thinks this is right.

>> i want to mention, congratulations, 2,000th episode of mad money tonight on cnbc.

>> thank you so much. the finger pointing on this began