'Cramer Claus:' Bernanke Gets a Lump of 'High-Sulfur Stinky Coal'
CNBC stock picker ‚ÄúMad Money‚ÄĚ Jim Cramer played Santa on December 19 ‚ÄúToday‚ÄĚ and made it clear that Ben Bernanke is on the naughty list.
‚ÄúCramer Claus‚ÄĚ was on ‚ÄúToday‚ÄĚ to say which economic sectors had been naughty and nice, but took the opportunity to fire shots at Federal Reserve Chairman Bernanke.
‚ÄúHe is a guy that doesn‚Äôt get regular coal ‚Äď I‚Äôm giving him high-sulfur stinky coal,‚ÄĚ Cramer said. ‚ÄúHe is in the end an academic who is over his head frankly. I hate to say that. He‚Äôs a volunteer official who is trying to do his best. But he had his chance and he‚Äôs lost it.‚ÄĚ
Cramer has been critical of the Federal Reserve over the past week for not cutting interest rates more than a quarter-point on December 11. When asked about the housing market by Gregory, ‚ÄúCramer Clause‚ÄĚ threw another barb at the Fed.
‚ÄúIt‚Äôs still losing money if you buy a house,‚ÄĚ Cramer said. ‚ÄúProbably another 18 months before we get to a bottom. All aggravated by a Federal Reserve that is very calm and placid under the guise of being prudent, but quite reckless.‚ÄĚ
However, CNBC‚Äôs ‚ÄúMad Money‚ÄĚ host hasn‚Äôt been right-on-the-money himself.
Six weeks ago, Cramer made headlines by calling New York State Attorney General Andrew Cuomo a ‚Äúcommunist‚ÄĚ on CNBC‚Äôs November 7 ‚ÄúStreet Signs.‚ÄĚ The very next day, Cramer made a prediction that gasoline prices would hit $4 a gallon.
‚ÄúI still like oil,‚ÄĚ Cramer said on the November 8 ‚ÄúToday.‚ÄĚ ‚ÄúI think oil goes a little bit higher. It is monster. You'll be paying at the pump. You'll be paying $4 [a gallon] within the next six weeks.‚ÄĚ
But pump prices haven‚Äôt come close to $4 a gallon in that time. According to AAA, prices ran up to $3.11 on average around November 14, but have fallen back to $2.99 as of December 19.