'Cramer Claus:' Bernanke Gets a Lump of 'High-Sulfur Stinky Coal'
CNBC stock picker â€śMad Moneyâ€ť Jim Cramer played Santa on December 19 â€śTodayâ€ť and made it clear that Ben Bernanke is on the naughty list.
â€śCramer Clausâ€ť was on â€śTodayâ€ť to say which economic sectors had been naughty and nice, but took the opportunity to fire shots at Federal Reserve Chairman Bernanke.
â€śHe is a guy that doesnâ€™t get regular coal â€“ Iâ€™m giving him high-sulfur stinky coal,â€ť Cramer said. â€śHe is in the end an academic who is over his head frankly. I hate to say that. Heâ€™s a volunteer official who is trying to do his best. But he had his chance and heâ€™s lost it.â€ť
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, â€śCramer Clauseâ€ť threw another barb at the Fed.
â€śItâ€™s still losing money if you buy a house,â€ť Cramer said. â€śProbably 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.â€ť
However, CNBCâ€™s â€śMad Moneyâ€ť host hasnâ€™t been right-on-the-money himself.
Six weeks ago, Cramer made headlines by calling New York State Attorney General Andrew Cuomo a â€ścommunistâ€ť on CNBCâ€™s November 7 â€śStreet Signs.â€ť The very next day, Cramer made a prediction that gasoline prices would hit $4 a gallon.
â€śI still like oil,â€ť Cramer said on the November 8 â€śToday.â€ť â€śI 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.â€ť
But pump prices havenâ€™t 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.