me @jimcramer. i have to be honest with you, we could be on the verge of a depression, not a recession, a depression if things don t go right. worst monthly report since 2009. 700,000 jobs lost and that doesn t even cover the last two weeks where we had 10 million jobless claims the bad numbers are just beginning, which is why the averages got hit today, dow losing 361, s&p 3.1%, nasdaq falling. it could have been worse earlier in the day, it was bad this is going to be a brutal period if we handle things right, it will be a short depression i would call it a decession or a repression but the first sounds silly and we don t want a repression can we have a mini depression? we re in unchartered waters. i hope so. still, i think we re making real progress in the economic front today, small businesses applied for hundreds of billions of dollars in loans that will allow them to stay open in a tough period and the government will forgive those loans if you pay your workers full dis
merchandise at the market all at once without new money coming in, and we can have a very rude awakening. it s not necessarily easy to see especially on a day like this one. dow did not keep points, .08% and nasdaq lost .95% sometimes the new supply is as invisible. we heard from beyond me, the revolutionary plant based companies that makes faux ha hamburgers, the stock got annihilated, down 22% today. i happen to love beyond meat the company. ceo ethan browns stands for a clever concept the idea is that cows are a terrible delivery system for protein, they add fat and cl cholesterol spewing methane all over here right to your plate, not here, the cow and then your plate. got it beyond meat s product is far from perfect but it s a legitimate disrupter of the $1.4 trillion meat industry. growth is staggering, their sales have more than tripled they re already turning a profit if beyond meat keeps growing at that pace, you can argue it deserves to be a multibillion dollar compa
a real bruiser like we had this very morning before the president bailed us out, saying the chinese were making nice ahead of the midnight deadline ahead of his tariff increases. the dow only closing off 139%. the nasdaq seeing .41% now six hours from now, cinderella-like, we will have that tariff decision, and just now we got the pricing for the gigantic uber deal $45. smack in the middle of the range. these are the bookends to which i am calling hell week if you didn t know better, there was barely any sturm und drang about either when you look at the close. but this morning, this morning it was just hideous. sell, sell, sell, sell, sell, sell, sell, sell, sell and sometimes a hideous tape is exactly what you need to identify the best winners. there are very few of them, but they pop out at you. remember earlier this hell week, i predicted we could have an across-the-board sell-off because of the one-two punch from the higher tariffs and of course the uber deal, because
the nasdaq pole vaulting 1.42% because fed chief jay powell came out and said we don t need another rate hike in 2019. in fact, he came close to admitting he made a mistake. being federal reserve chairman means yes, you never have to say you re sorry i heard a lot of people today worry things much be much worse than they seem or else powell wouldn t have made such sweeping statements about the slowdown that s engulfing us. but that s only true if you haven t been paying any attention. right now the data says not to tighten. then again he did something very crafty yesterday powell said you could ignore all the myriad presidents who talk like it s time to tighten. he decided that ain t going to happen i don t know i think it s nice. i think it s really nice this is a dramatic shift we don t need to worry about more rate hikes, and that s why it s causing a sea change in the stock market right now because we re in a low growth environment again. so what is the playbook for low g
nasdaq closed flat, i think it s worth playing devil s advocate what if, what if, what if for some hated company, you with me? the glass is half full, not half empty. in other words, what if the acursed, horrible no-good we hate fang stocks facebook, amazon, netflix and alphabet, the ones everyone now despise, the evil, the dare i say maybe some of them if not all of them are doing actually better than we think i need to say this, but what if, what if the other egg, the stuff of the elongated fang apple may actually be doing better than we think. wouldn t this be a shocker wouldn t bit totally out of sync with the unbearish zeitgeist all you read about, everything says these stocks are finished they re dead they re buried got me got me gotcha all right. any way, for years, these stocks, the fab five let s call them, they led the averages higher but now they ve become an albatross around the market s neck what happens, god forbid if the albatross comes back to life let s dig