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

[kells1001]

Hopefully he's correct, but if Mega Bailed Out Banks and Obama do not follow through stopping foreclosures their will certainly be people who we feel they are in a Depression.

Unfortunately those same people don't have a daily pulpit to express their personal points of view.

[ssfahrer]

We all know the depression has not really even begun-- unemployment, etc. have to be FAR WORSE than they are for this 'recession' to be a real economic 'depression'....

[POLINUT]

Get this cartoon "analyst" off the air...

[jukesgrrl]

Awww, I think he kinda suits the cartoon Morning Joe. He knows as much about the economy as Scarborough knows about fairness, justice, good government, and good manners.

[kudzumaster]

Cool--he's discovered a new talent as a clown

[Overlady]

Crook!!

[rockinrod]

Cramer's record speaks for itself...

[BushBites]

Ah...I like Cramer...but he's obviously just trying to save face by saying "I wasn't wrong, Obama changed."

Obama's been saying the same things from day one: Just because he said he wasn't going make policy based on the day-to-day market changes doesn't mean he thinks the market is unimportant in the long term.

Whatever....

[ramal]

When will CNBC wise up and take this buffon off the air?

[Fyrefly86]

Zero credibility.

[thinbluetorpedo]

Is he insane? Jiberish. How can anyone watch that crap?

[TJCole]

Jim's gone over the edge, lost it, flip city..!

The guy needs a rest...someplace quite...

[dimplesmile7]

Cramer's predictions are equivalent to the republican's expertise on the economy. Both scenarios are laughable.

[JeanPaulSatire]

I'm impressed that Cramer was able to address his depression so rapidly and completely. I'm glad that the meds worked as intended. Now, if only the economy would quickly turn around definitively.

[JaneaneTheAcerbicGoblin]

Well, since Cramer has said it's over, it has to be. In Cramer we trust. He's so brilliant. He says so every day at a very loud volume.

He works for CNBC, one of the most trusted names in business news ever created. Since when has an American news network lied about anything?

I'm going to buy some Bear Stearns stock right now. And Lehman Brothers.

And I'm going to sell my Citi stock, too.

[DFL]

Republican depression #2