'We don't want to be in a situation where we're so far away from the vaccine that many businesses close,' CNBC's Jim Cramer said Friday.
on Friday that there's a "growing and significant disconnect" between economic data in the country and the stock market's valuation."
"When you look at the data this morning, household income went up due to government support. What that tells you is unless we see a significant ... [additional] round of government aid to provide support for households in the economy. That seriously calls into question the economic rebound that the White House and the market has priced in for the third quarter," Brusuelas said. "It calls into direct question current equity valuations predicated on such expectations.
"That's the bridge to the vaccine" for Covid-19, he added. "We don't want to be in a situation where we're so far away from the vaccine that many businesses close." People get excited when restaurants reopen and report that same-store sales are "only down 40%," Cramer said. But he argued that trend is not really sustainable for operators unless they are large national chains.
"I just think there's just a lot of unemployed people who don't have a lot of hope," he said. "We need those people back in the workforce."
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