Jim Cramer tells Glenn how to get rich carefully

February 27, 2014

Writer

Mad Money host Jim Cramer joined Glenn Beck on TV last night to talk about smart investments and his new book How To Get Rick Carefully.

WATCH:

Read the transcript of the interview below:

Glenn: All right, I want to bring a longtime friend onto the program, Jim Cramer. He’s the host of CNBC’s Mad Money, author of a new book Get Rich Carefully. Jim, welcome to the program.

Jim: Glenn, great to see you. Thank you for support all the years.

Glenn: You pioneered a lot of stuff that I watch.

Jim: You took it to where we should all go.

Glenn: You have a new book, Get Rich Carefully, and I want to talk about you’ve got seven things. I put them up on the chalkboard, seven things. I’m not comfortable talking to you without pacing.

Jim: Yeah, I mean, what are we doing? Let’s get our hands dirty.

Glenn: You talk about getting rich. I am concerned that we have printed so much money that the stock market’s bogus. It doesn’t mean anything anymore.

Jim: You know, that’s why I’ve always told people, put some in gold, please. Put some in gold. I believe in it. I have some. It’s the antidote to the currency. And when people say, you know, when I say put some in gold, people think he’s a gold bug. I am a believer that gold will retain its value, and so therefore everyone should have a good percentage.

Glenn: Right. Nobody should put everything in anything.

Jim: No, but I think that that’s the antidote, because I think, look, our grandchildren are going to be looking at this deficit and saying why didn’t dad buy some gold?

Glenn: We have $17 trillion in debt. At some point we have $40 trillion in debt, and the only thing that’s going to be worth anything is an asset, which brings me to number seven on your list. What is this list?

Jim: Okay, these are the big themes that are going to last far more than let’s just say far more than next year or next five years, probably ten years. The one I’m most proud of is the one that is most…it is still hard to find people who believe with me we are in an oil and gas revolution in this country. Because of American technology, we have found oil where we thought there wasn’t any, and this is our chance for greatness. It’s our chance for more jobs. It’s actually our chance for ascendancy back.

Glenn: Yeah, it’s our chance of survival, because if we don’t take it out of the ground, we have $40 trillion in debt at some point. China or whoever else is just going to say you know what guys, pay up. You’ve got nothing, and they’ll just take it.

Jim: Our trade deficit which is something that’s hurt all our workers in this country, right? I don’t want to say it gets 100% cured because we still take a lot of product from countries that won’t buy our products. Those are products of bad trade deals that we’ve made, but oil and gas is something that, it’s tangible. It creates jobs. The Keystone pipeline would create more jobs than any one project, but most importantly Texas, Oklahoma, New Mexico, Montana, Colorado, North Dakota, Pennsylvania, Ohio, wherever there’s fracking, there’s jobs.

Glenn: Pennsylvania and Ohio, think of that, it’s dying. Upstate New York, Kodak is a ghost town. All of that stuff is a ghost town, and you drive through upstate New York, and it’s nothing but anti-fracking nonsense.

Jim: The southern tier is filled with natural gas. The southern tier is probably one of the highest unemployment areas in our country, and this state, unlike Pennsylvania, this state doesn’t understand those are actually good jobs, especially pipeline jobs. You know that’s high-paying jobs for people who may not have graduated college. Is that okay to help them? You can even get, you know, truck drivers, you’re making $90,000 a year in North Dakota. We just don’t have enough people there.

Glenn: Okay, come here and talk to me about some of these. Okay, so we have oil and gas. Let’s go stealth tech. What is stealth tech?

Jim: Okay, stealth tech, we have a lot of companies, we think about personal computers, really haven’t done that much. Where I’m saying the real technology is being done in companies like Colgate. Now, I know that sounds boring.

Glenn: The toothpaste people?

Jim: Yes, but we have taken back huge amounts of the emerging world with our own technology making the best toothpaste much cheaper. You know, we should not minimize this. These are scientists from our countries doing good things. The one that is my favorite is actually Under Armour.

Glenn: Hold on just a second. You’re actually telling me that toothpaste may be something that we’re turning the country around with?

Jim: No, but at least we’re taking back some jobs from some foreign companies.

Glenn: We’re down to toothpaste, America.

Jim: I want to celebrate some of our ingenuity.

Glenn: No, I appreciate that, but it’s sad. It’s toothpaste.

Jim: No, we’re just not as bad as we think we are. That’s how I like to feel about us.

Glenn: Okay, so Under Armour, because you’re saying stealth tech because I don’t think of Under Armour as technology.

Jim: Well, I mean because they develop product that keeps you cool when it’s hot and keeps you warm when it’s cold, and that’s this guy, Kevin Plank, who’s really a great American. People don’t talk enough about him. He calls himself the world’s sweatiest man when he comes on Mad Money. He just decided you know what, I have to infuse apparel with technology in order to be able to take on a Nike, which is also a great American company that has terrific technology.

Glenn: Okay let’s go to number three, make money work in the new frugal environment.

Jim: When my father and his parents got out of the Depression, they never spent again the way that they did before that, okay? We have come out of a horrendous recession, not strongly enough, but we’ve come out. Well, we turned more frugal. I shop at TJ Maxx, which is very good. I belong to Costco. I like to shop there. Yeah, I like to buy the store brand. You know, I would go to Rite Aid, and I buy everything that’s Rite Aid. I don’t need to buy the fancy stuff.

Glenn: You don’t need to buy something from Colgate?

Jim: Well, I mean, they have good technology, but –

Glenn: Okay.

Jim: But I just think that we’re smarter about shopping.

Glenn: And that’s because, I mean, do you buy into, I looked through your book, and I’m looking at the pages in the book and the charts. And I’m like I don’t understand any of those charts. But do you look at the charts, as a guy who doesn’t understand all that stuff, I look at bad news, bad news, bad news, stock market up, and say there’s something wrong. Do you buy into this crap?

Jim: I think that a lot of what happens with the stock market is about profits, and a lot of companies are able to make more money by firing people or moving jobs offshore.

Glenn: But at some point that’s bad.

JimL Well, for societally, unless you can be involved in the stock market, it’s definitely bad because how do a lot of our companies make money? Okay, well they close their factories here and then move them to Mexico. And we have this thing called NAFTA which is universally loved by everybody except for the people who lost their jobs, the millions, and that is the way that companies make more money. I mean look, you build more cars in Mexico, that means you build fewer cars here, okay? And we bring them up. We don’t charge you any tax on that, and that’s how those companies are making more money.

Glenn: Is there any industry that you’re, I mean, there’s so many, and you’ve got to read the book to understand all seven of these, but is there anything, is it number seven? Is there anything that you see on the horizon that you’re like that’s your answer for America?

Jim: I think that when you look at where the natural resources, you know, we are a strong natural resource country. Now we have an anti-fossil fuel government, Republican and Democrat, but you know what, all that means is we export the jobs to countries that pollute far more than we do. And do you think that pollution stays in China? I mean, I’ve seen that map. It’s like, you know, my kids know, it’s like a big, big world. If we are able to exploit our natural resources unfettered in a very smart and reliable way, much better than almost every other country, by the way, then we can become a stronger and a self-sufficient continent.

Glenn: I will tell you that we were just talking about it, and you just said continent. I was just telling you that we were talking beforehand. I never thought that I would hear somebody say you know, Canada has a great government. And then I would go yes, it does. Two places to live, Texas, Canada. The name of the book, Get Rich Carefully by Jim Cramer. Good to see you.

Jim: Thank you, Glenn. Thank you very much.

Washington Post EXPOSED: How Watergate editors almost published a fake Pulitzer Prize-winning story

Episode 6 of Glenn’s new history podcast series The Beck Story releases this Saturday.

This latest installment explores the history of Left-wing bias in mainstream media. Like every episode of this series, episode 6 is jam-packed with historical detail, but you can’t squeeze in every story, so some inevitably get cut from the final version. Part of this episode involves the late Ben Bradlee, who was the legendary editor of the Washington Post. Bradlee is legendary mostly because of the Watergate investigation that was conducted on his watch by two young reporters named Bob Woodward and Carl Bernstein. Bradlee, Woodward, and Bernstein became celebrities after the release of the book and movie based on their investigation called All the President’s Men.

But there is another true story about the Washington Post that you probably won’t see any time soon at a theater near you.

In 1980, Washington Post editor Ben Bradlee wanted to expand the Post’s readership in the black community. The paper made an effort to hire more minority journalists, like Janet Cooke, a black female reporter from Ohio. Cooke was an aggressive reporter and a good writer. She was a fast-rising star on a staff already full of stars. The Post had a very competitive environment and Cooke desperately wanted to win a Pulitzer Prize.

Readers were hooked. And outraged.

When Cooke was asked to work on a story about the D.C. area’s growing heroin problem, she saw her chance to win that Pulitzer. As she interviewed people in black neighborhoods that were hardest hit by the heroin epidemic, she was appalled to learn that even some children were heroin addicts. When she learned about an eight-year-old heroin addict named Jimmy, she knew she had her hook. His heartbreaking story would surely be her ticket to a Pulitzer.

Cooke wrote her feature story, titling it, “Jimmy’s World.” It blew away her editors at the Post, including Bob Woodward, who by then was Assistant Managing Editor. “Jimmy’s World” would be a front-page story:

'Jimmy is 8 years old and a third-generation heroin addict,' Cooke’s story began, 'a precocious little boy with sandy hair, velvety brown eyes and needle marks freckling the baby-smooth skin of his thin brown arms. He nestles in a large, beige reclining chair in the living room of his comfortably furnished home in Southeast Washington. There is an almost cherubic expression on his small, round face as he talks about life – clothes, money, the Baltimore Orioles and heroin. He has been an addict since the age of 5.'

Readers were hooked. And outraged. The mayor’s office instructed the police to immediately search for Jimmy and get him medical treatment. But no one was able to locate Jimmy. Cooke wasn’t surprised. She told her editors at the Post that she had only been able to interview Jimmy and his mother by promising them anonymity. She also revealed that the mother’s boyfriend had threatened Cooke’s life if the police discovered Jimmy’s whereabouts.

A few months later, Cooke’s hard work paid off and her dream came true – her story was awarded the Pulitzer Prize for feature writing. Cooke had to submit some autobiographical information to the Prize committee, but there was a slight snag. The committee contacted the Post when they couldn’t verify that Cooke had graduated magna cum laude from Vassar College. Turns out she only attended Vassar her freshman year. She actually graduated from the University of Toledo with a B.A. degree, not with a master’s degree as she told the Pulitzer committee.

Cooke’s editors summoned her for an explanation. Unfortunately for Cooke and the Washington Post, her resume flubs were the least of her lies. After hours of grilling, Cooke finally confessed that “Jimmy’s World” was entirely made up. Jimmy did not exist.

The Pulitzer committee withdrew its prize and Cooke resigned in shame. The Washington Post, the paper that uncovered Watergate – the biggest political scandal in American history – failed to even vet Cooke’s resume. Then it published a front-page, Pulitzer Prize-winning feature story that was 100 percent made up.

Remarkably, neither Ben Bradlee nor Bob Woodward resigned over the incident. It was a different time, but also, the halo of All the President’s Men probably saved them.

Don’t miss the first five episodes of The Beck Story, which are available now. And look for Episode 6 this Saturday, wherever you get your podcasts.

5 Democrats who have endorsed Kamala (and two who haven't)

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With Biden removed from the 2024 election and only a month to find a replacement before the DNC, Democrats continue to fall in line and back Vice President Kamala Harris to headline the party's ticket. Her proximity and familiarity with the Biden campaign along with an endorsement from Biden sets Harris up to step into Biden's shoes and preserve the momentum from his campaign.

Glenn doesn't think Kamala Harris is likely to survive as the assumed Democratic nominee, and once the DNC starts, anything could happen. Plenty of powerful and important Democrats have rallied around Harris over the last few days, but there have been some crucial exemptions. Here are five democrats that have thrown their name behind Harris, and two SHOCKING names that didn't...

Sen. Dick Durbin: ENDORSED

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High-ranking Senate Democrat Dick Durbin officially put in his support for Harris in a statement that came out the day after Biden stepped down: “I’m proud to endorse my former Senate colleague and good friend, Vice President Kamala Harris . . . our nation needs to continue moving forward with unity and not MAGA chaos. Vice President Harris was a critical partner in building the Biden record over the past four years . . . Count me in with Kamala Harris for President.”

Michigan Gov. Whitmer: ENDORSED

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The Monday after Biden stepped down from the presidential VP hopeful, Gretchen Whitmer released the following statement on X: “Today, I am fired up to endorse Kamala Harris for president of the United States [...] In Vice President Harris, Michigan voters have a presidential candidate they can count on to focus on lowering their costs, restoring their freedoms, bringing jobs and supply chains back home from overseas, and building an economy that works for working people.”

Rep. Alexandria Ocasio-Cortez: ENDORSED

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Mere hours after Joe Biden made his announcement, AOC hopped on X and made the following post showing her support: "Kamala Harris will be the next President of the United States. I pledge my full support to ensure her victory in November. Now more than ever, it is crucial that our party and country swiftly unite to defeat Donald Trump and the threat to American democracy. Let’s get to work."

Rep. Nancy Pelosi: ENDORSED

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Former Speaker Nancy Pelosi, who is arguably one of the most influential democrats, backed Harris's campaign with the following statement given the day after Biden's decision: “I have full confidence she will lead us to victory in November . . . My enthusiastic support for Kamala Harris for President is official, personal, and political.”

Sen. Elizabeth Warren: ENDORSED

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Massasschesets Senator Elizabeth Warren was quick to endorse Kamala, releasing the following statement shortly after Harris placed her presidential bid: "I endorse Kamala Harris for President. She is a proven fighter who has been a national leader in safeguarding consumers and protecting access to abortion. As a former prosecutor, she can press a forceful case against allowing Donald Trump to regain the White House. We have many talented people in our party, but Vice President Harris is the person who was chosen by the voters to succeed Joe Biden if needed. She can unite our party, take on Donald Trump, and win in November."

Former President Barack Obama: DID NOT ENDORSE

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Former President Barack Obama wasted no time releasing the following statement which glaringly omits any support for Harris or any other candidate. Instead, he suggests someone will be chosen at the DNC in August: "We will be navigating uncharted waters in the days ahead. But I have extraordinary confidence that the leaders of our party will be able to create a process from which an outstanding nominee emerges. I believe that Joe Biden's vision of a generous, prosperous, and united America that provides opportunity for everyone will be on full display at the Democratic Convention in August. And I expect that every single one of us are prepared to carry that message of hope and progress forward into November and beyond."

Prominent Democratic Donor John Morgan: DID NOT ENDORSE

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Prominent and wealthy Florida lawyer and democrat donor John Morgan was clearly very pessimistic about Kamala's odds aginst Trump when he gave the following statement: “You have to be enthusiastic or hoping for a political appointment to be asking friends for money. I am neither. It’s others turn now . . . The donors holding the 90 million can release those funds in the morning. It’s all yours. You can keep my million. And good luck . . . [Harris] would not be my first choice, but it’s a done deal.”

How did Trump's would-be assassin get past Secret Service?

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Editor's Note: This article was originally published on TheBlaze.com.

Former President Donald Trump on Saturday was targeted in an assassination attempt during a campaign rally in Pennsylvania. It occurred just after 6:10 p.m. while Trump was delivering his speech.

Here are the details of the “official” story. The shooter was Thomas Matthew Crooks. He was 20 years old from Bethel Park, Pennsylvania. He used an AR-15 rifle and managed to reach the rooftop of a nearby building unnoticed. The Secret Service's counter-response team responded swiftly, according to "the facts," killing Crooks and preventing further harm.

Did it though? That’s what the official story says, so far, but calling this a mere lapse in security by Secret Service doesn't add up. There are some glaring questions that need to be answered.

If Trump had been killed on Saturday, we would be in a civil war today. We would have seen for the first time the president's brains splattered on live television, and because of the details of this, I have a hard time thinking it wouldn't have been viewed as JFK 2.0.

How does someone sneak a rifle onto the rally grounds? How does someone even know that that building is there? How is it that Thomas Matthew Crooks was acting so weird and pacing in front of the metal detectors, and no one seemed to notice? People tried to follow him, but, oops, he got away.

How could the kid possibly even think that the highest ground at the venue wouldn't be watched? If I were Crooks, my first guess would be, "That’s the one place I shouldn't crawl up to with a rifle because there's most definitely going to be Secret Service there." Why wasn't anyone there? Why wasn't anyone watching it? Nobody except the shooter decided that the highest ground with the best view of the rally would be the greatest vulnerability to Trump’s safety.

Moreover, a handy ladder just happened to be there. Are we supposed to believe that nobody in the Secret Service, none of the drones, none of the things we pay millions of dollars for caught him? How did he get a ladder there? If the ladder was there, was it always there? Why was the ladder there? Secret Service welds manhole covers closed when a president drives down a road. How was there a ladder sitting around, ready to climb up to the highest ground at the venue, and the Secret Service failed to take it away?

There is plenty of video of eyewitnesses yelling that there was a guy with a rifle climbing up on a ladder to the roof for at least 120 seconds before the first shot was fired. Why were the police looking for him while Secret Service wasn't? Why did the sniper have him in his sights for over a minute before he took a shot? Why did a cop climb up the ladder to look around? When Thomas Matthew Cooks pointed a gun at him, he then ducked and came down off the ladder. Did he call anyone to warn that this young man had a rifle within range of the president?

How is it the Secret Service has a female bodyguard who doesn't even reach Trump's nipples? How was she going to guard the president's body with hers? How is it another female Secret Service agent pulled her gun out a good four minutes too late, then looked around, apparently not knowing what to do? She then couldn't even get the pistol back into the holster because she's a Melissa McCarthy body double. I don't think it's a good idea to have Melissa McCarthy guarding the president.

Here’s the critical question now: Who trusts the FBI with the shooter’s computer? Will his hard drive get filed with the Nashville manifesto? How is it that the Secret Service almost didn't have snipers at all but decided to supply them only one day before the rally because all the local resources were going to be put on Jill Biden? I want Jill Biden safe, of course. I want Jill Biden to have what the first lady should have for security, but you can’t hire a few extra guys to make sure our candidates are safe?

How is it that we have a Secret Service director, Kimberly Cheatle, whose experience is literally guarding two liters of Squirt and spicy Doritos? Did you know that's her background? She's in charge of the United States Secret Service, and her last job was as the head of security for Pepsi.

This is a game, and that's what makes this sick. This is a joke. There are people in our country who thought it was OK to post themselves screaming about the shooter’s incompetence: “How do you miss that shot?” Do you realize how close we came to another JFK? If the president hadn't turned his head at the exact moment he did, it would have gone into the center of his head, and we would be a different country today.

Now, Joe Biden is also saying that we shouldn't make assumptions about the motive of the shooter. Well, I think we can assume one thing: He wanted to kill the Republican presidential candidate. Can we agree on that at least? Can we assume that much?

How can the media even think of blaming Trump for the rhetoric when the Democrats and the media constantly call him literally worse than Hitler who must be stopped at all costs?

These questions need to be answered if we want to know the truth behind what could have been one of the most consequential days in U.S. history. Yet, the FBI has its hands clasped on all the sources that could point to the truth. There must be an independent investigation to get to the bottom of these glaring “mistakes.”

POLL: Do you think Trump is going to win the election?

Kevin Dietsch / Staff, Chip Somodevilla / Staff, Kevin Dietsch / Staff | Getty Image

It feels like all of the tension that has been building over the last four years has finally burst to the surface over the past month. Many predicted 2024 was going to be one of the most important and tumultuous elections in our lifetimes, but the last two weeks will go down in the history books. And it's not over yet.

The Democratic National Convention is in August, and while Kamala seems to be the likely candidate to replace Biden, anything could happen in Chicago. And if Biden is too old to campaign, isn't he too old to be president? Glenn doesn't think he'll make it as President through January, but who knows?

There is a lot of uncertainty that surrounds the current political landscape. Trump came out of the attempted assassination, and the RNC is looking stronger than ever, but who knows what tricks the Democrats have up their sleeves? Let us know your predictions in the poll below:

Glenn's Show Prep

Jim Cramer tells Glenn how to get rich carefully

Washington Post EXPOSED: How Watergate editors almost published a fake Pulitzer Prize-winning story

Readers were hooked. And outraged.

5 Democrats who have endorsed Kamala (and two who haven't)

Sen. Dick Durbin: ENDORSED

Michigan Gov. Whitmer: ENDORSED

Rep. Alexandria Ocasio-Cortez: ENDORSED

Rep. Nancy Pelosi: ENDORSED

Sen. Elizabeth Warren: ENDORSED

Former President Barack Obama: DID NOT ENDORSE

Prominent Democratic Donor John Morgan: DID NOT ENDORSE

How did Trump's would-be assassin get past Secret Service?

POLL: Do you think Trump is going to win the election?

Is Trump going to win the election?

Did the assassination attempt increase Trump's chances at winning in November?

Did Trump's pick of J.D. Vance help his odds?

Did the Trump-Biden debate in June help Trump's chances?

Did Biden's resignation from the election hand Trump a victory in November?

Do the Democrats have any chance of winning this election?