Perspective Is Key

We are always thinking about things that could happen, without thinking about things that have already happened. Consider that JPMorgan (JPM - commentary - Trade Now), Goldman Sachs (GS - commentary - Trade Now) and Morgan Stanley (MS - commentary - Trade Now) want to pay back almost $50 billion in TARP money. People yawn at that. How about the fact that Fifth Third (FITB - commentary - Trade Now) and Key (KEY - commentary - Trade Now) can even refinance; I thought they would be seized, for heaven's sake. How about that Professor Rube, the guy from NYU, was calling for the nationalization of all banks because they are insolvent, which presumably includes Bank of America (BAC - commentary - Trade Now), when the bank turns around and raises $30 billion? Maybe Professor Rube thinks that money doesn't count and we would be doing better if Bank of America were to become something like "The U.S. Postal Service and Bank of America"?

Did anyone think that Chrysler and soon GM (GM - commentary - Trade Now) would go bankrupt and the market would nonetheless go higher? How can that be?

Or how about the fact that the U.S. government is borrowing trillions, and yet mortgages have gone lower? That's not supposed to happen.

Or here's a good one: Do you know how few companies have actually gone bankrupt in this garden-variety depression? Almost none. In previous recessions the bankruptcies were stacked up bigger than pancakes at an aggressive IHOP.

All of these things have happened, and all we then worry about is the next thing, like the AAA rating of the U.S. or a small uptick in bonds, or a decline in the dollar ... which is actually a good thing for most companies.

Why does nothing good that is gigantic ever matter as much as the next piece of data, which probably isn't nearly as important?

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Jim Cramer is co-founder and chairman of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. To order Cramer's newest book -- "Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)," click here. Click here to order "Mad Money: Watch TV, Get Rich," click here to order "Real Money: Sane Investing in an Insane World," click here to get "You Got Screwed!" and click here for Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he appreciates your feedback and invites you to send comments by clicking here.

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