'Cramer Claus:' Bernanke Gets a Lump of 'High-Sulfur Stinky Coal'
CNBC stock picker âMad Moneyâ Jim Cramer played Santa on December 19 âTodayâ and made it clear that Ben Bernanke is on the naughty list.
âCramer Clausâ was on âTodayâ to say which economic sectors had been naughty and nice, but took the opportunity to fire shots at Federal Reserve Chairman Bernanke.
âHe is a guy that doesnât get regular coal â Iâm giving him high-sulfur stinky coal,â Cramer said. âHe is in the end an academic who is over his head frankly. I hate to say that. Heâs a volunteer official who is trying to do his best. But he had his chance and heâs lost it.â
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, âCramer Clauseâ threw another barb at the Fed.
âItâs still losing money if you buy a house,â Cramer said. âProbably 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
However, CNBCâs âMad Moneyâ host hasnât been right-on-the-money himself.
Six weeks ago, Cramer made headlines by calling New York State Attorney General Andrew Cuomo a âcommunistâ on CNBCâs November 7 âStreet Signs.â The very next day, Cramer made a prediction that gasoline prices would hit $4 a gallon.
âI still like oil,â Cramer said on the November 8 âToday.â âI 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
But pump prices havenât 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.