Cramer's 'Mad Money' Recap: Compromise Already!
NEW YORK ( TheStreet) -- We're on the cusp of an economic boom in this country, Jim Cramer said on "Mad Money" Thursday, but only if those in Washington get out of our way.
He said America has an incredible opportunity to reassert itself as a global leader in technology, natural resources and finance -- but only if Washington will give us a budget deal.
Enough with the selfishness and the rhetoric and the hard-line positions! At this point, any budget deal, even a bad one, will be seen as a good one for America, he said. Cramer said he's willing to pay more in taxes because he's grateful for all our country has given him, and that's the attitude that Washington needs to adopt -- shared sacrifice.
How well could America be doing? Cramer said that even Europe, which has slid into a perpetual no-growth mode, is seeing its stock markets performing better than ours.
"How is that possible?" Cramer asked. He said there was clearly an explosion of earnings bubbling up before the rhetoric in Washington began because our country needs more office buildings and homes and cars and it has the cheap, clean energy and the technology to make it happen.
We only need Washington to compromise already, Cramer concluded, and then we'll see what America is really capable of.
In the "Executive Decision" segment, Cramer spoke with Tom Farrell, president and CEO of Dominion Resources (D) , a utility with a 4% yield that's now looking to build a liquified natural gas export terminal in Maryland.
Farrell said he's not surprised by a recent Department Of Energy report that gave its blessing for such an export terminal. He said the more natural gas America exports, the better off it will be.
Farrell explained that Dominion is already in a terrific position to make this project happen as the company already has a pier on the Chesapeake Bay that supports tankers, as well as 50 billion cubic feet of storage on site and pipelines that run directly to the Marcellus and Utica shale regions. All that's needed, said Farrell, is a liquifier, which will cost between $2 billion to $3 billion.
Farrell was also quick to note that current customers of Dominion will not bear the burden for the new project because it will be funded by a separate subsidiary. The terminal will create 7,000 jobs on site and another 15,000 throughout the region, said Farrell, and will be a big economic boon for Maryland.
Cramer praised Dominion for being a remarkable utility that now has given investors one more reason to like it.