The market has mostly enjoyed a bullish run-up since Election Day last week, but CNBC’s “Mad Money” host Jim Cramer thinks stock market investors are being too complacent about a number of lingering risks that could rear up and cause a potential selloff.
“ ‘We are worried about the fact that we could be moving toward a constitutional crisis.’ ”
Notable among those worries is what Cramer describes as a potential “constitutional crisis,” due to President Donald Trump’s unwillingness to concede defeat and pave the way for a smooth transition for former Vice President Joe Biden, who is seen as winning the 2020 race for the White House.
“We are worried about the fact that we could be moving toward a constitutional crisis,” the CNBC host said Wednesday.
“This is not encouraging,” Cramer said, when the “president tweets regularly how the election was rigged.”
Late Wednesday, Trump, who has vowed to launch a series of challenges to the vote-counting process, tweeted his belief that he would still prevail in the presidential contest that was called in Biden’s favor over the weekend by most major news outlets and political experts. The 45th president wrote “with 72 million votes, we received more votes than any sitting President in U.S. history—and we will win!”
“It does not seem like he will vacate the premises in January,” Cramer said Wednesday. Read from source….