Cramer: American consumers saving economy and keeping US bond yields from going negative
on Thursday said that if it weren't for the American consumer, U.S. bond yields would be negative like in many other nations around the world.
"If we were two-thirds industrial and one-third consumer, then we would have negative yields," Cramer said on "Consumer confidence has been strong over the past few months. From the April-to-June period, consumer spending helped, with personal consumption expenditures rising 4.3%. It was the best performance since the fourth quarter of 2017.
Aside from consumer spending, Cramer cited as confidence indicators the strong job market and the fact that "we are not an industrial economy." He said he's more "sanguine" than most people.
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