Jim Cramer Declares The Depression "Over" (VIDEO)

On Thursday's episode of "Mad Money" host Jim Cramer declared that the depression is, well, over. No stranger to making bold statements about the stock market and the economy, ">Cramer delivered the news in his own inimitable style, unequivocally stating with gusto: "Right now, right here on this show -- I am pronouncing the Depression over."

And who does he credit for this turn around? As he wrote on bloggingstocks.com the same day, the credit lies with Obama.

When [Obama] became more market-focused, and the Fed took rates to zero and offered financing -- leverage to buy asset-backs -- and took mortgage rates down to record lows while homes lost huge percentages of their value, the fire caught. Lending started again.

And the depression ended. I think it ended in the first week of March. I think that's what Doug Kass saw when he went bullish. I think I saw it when I realized that even if every financial went under and most companies cancelled their dividends, we only had 1,000 points to drop, and you had to start buying. There just wasn't enough downside left.

These are not disputed calls.

Now the end of the depression has to be priced in.

WATCH the segment:

Video via businessandmedia.org

Cramer also discussed his assessment on Morning Joe:

Comments

[Muskered]

i saw him on stewart,s show. what a cowardly little man.

[katmeyster]

Now I know we are skrewed!

[duchamp2008]

Sometimes I think Cramer is stealing from Kudlow's coke stash.

[hypersloth]

Not even that explains what these guys are thinking.

[csavage]

Yeah!
With 10% of the public on food stamps and 15.6% unemployment, according to MSN, the depression is officially over! This reminds me of a conversation I had with a wingnut last October-we weren't in a recession, didn't I know that?

[candlepower]

This guy should be out of a job
after the job John Stewart did on him he should stay depressed for alot longer

[fougasseu]

Cramer and his ilk, naked short sellers and other Crony Capitalists who are expert at gaming the system, should be tarred and feathered.
Read this remarkable interview by Bill Moyers - and weep:
http://www.pbs.org/moyers/journal/04032009/transcript1.html
Stay angry.

[Shieldmaiden]

This is a joke right? This was some April F ool's prank right? How does this man have a show?!

[pfranklin400]

Liberal smear machine at work. Cramer tell the truth that Obama's polices are dangerous for this country. What happends next?? he gets smeared from every angle and now CNBC hires Howard Dean. You liberals are scary.

[Shieldmaiden]

Watch it. We'll take your g_un and put you in a FEMA concentration camp.

[candlepower]

Brownie's coming back to run it for us

[OurKoan]

You sound depressed. Didn't you get the memo from Cramer and your free happy pills?

[vicco]

The truth?He wouldn't know the truth if it bit him, he's a shill, a snake oil salesman, nothing more....kind of like Limbaugh only 200 pounds less so a lot more hyper.

[dansama]

Anything from this guy is BS. If he said it would sunny tomorrow I'd bring an umbrella. Hes and entertainer and by the Youtube clips; a hedge fund fraudster.

[rpannier]

Jim Cramer has come out of his hole and predicted the Depression is over...I guess we're totally screwed because he's wrong most of the time

[LeBeau59741]

Well, I feel much, much better! (please note dripping sarcasm.)

To quote Jon Stewart.... "I know you're trying to make finance entertaining, but... it's not a f'ing game"

God, how I wish these people had a brain, a conscience or an implant that acted as a shock collar when they say something moronic and irresponsible.

[Mavo]

Where is Jon Stewart on this outrageous prediction by Cramer?

[LovesMyWay]

Ha ha ha ha ha ha - oh yeah - ha!!!

[DogTown]

"I'M MAD AS HELL AND I'M NOT GOING TO TAKE IT ANYMORE"

~Howard Beal

[sippewissett]

Cramer is now officially a joke in his own right. "I am pronouncing the Depression over." Wow. We were waiting for him to say that. Does Cramer think he's king? That language is delusional. He goes from this episode of crediting Obama to then making communist slurs about the administration in another. What a whack job.

Don't know why Cramer still has a job, given the HORRENDOUS advice he was giving the public right up until the October "fall off the cliff" economic moment. It's highly dubious that he is a financial guru, let alone one that should have a show on financial advice. CNBC is simply demonstrating that the more outrageous one is, the more likely air time. Criminal.