Booyah Breakdown: Donkey Distress

The Congressional elections are over, and the Republicans are out. The Democrats have majorities in both the House and Senate for the first time since 1994.

And their big win has many market players concerned.

Cramer, in particular, said in a column after the elections "this is a P/E-lowering event for certain because the Democrats have historically sided with the consumer, not the shareholder, and that will only be exacerbated by the wilderness perspective that the Democrats bring to the table."

Hmmm. No surprise, many readers wanted more explanation of that statement.

Before we dissect it, it's important to point out that Cramer also emphasized on "Mad Money" that while Democrats are viewed as a negative for stocks, he believes investors should stay in the game.

After all, take a step back and look at the big picture on Wall Street. Stocks have been on a tear over the last six years. The fundamentals are solid and many companies are still undervalued. Overall, the market is in good shape.

Now, move on down to D.C. and remember how long it takes to change things. We could be heading back to the voting booths before the Dems get even one of their proposals approved.

So don't panic. Nothing is going to happen overnight.

Now before we dive into Cramer's comment, let's get a quick P/E refresher.