Jim Cramer's Tantrum

Gary North reports:

By now, you may have seen Jim "Mad Money" Cramer’s tirade on Monday, August 6, against the Federal Reserve System’s Open Market Committee (FOMC) for not lowering interest rates, meaning the Federal Funds rate, meaning the publicly announced target rate. Because of YouTube, Cramer’s performance is all over the web.

I have never seen anything quite like it. Screaming, calling them idiots, saying that people he has been in the investment business with for 25 years are about to go bankrupt: this was unique. NBC’s "Today" show ran the clip as its opening segment on Tuesday, the morning that the FOMC was scheduled to meet. I guess the "Today" people had never seen anything like it, either.

Cramer is almost always bullish on stocks. He tells millions of CNBC viewers that the stock market is going to keep moving up. I have never heard of an instance when he has said "sell your index funds now and wait," let alone "sell short." Yet on Monday, he got in front of the camera and started screaming.

You'll want to read this one.