RealMoney Radio Recap: Consumers Show the Money

"Exogenous events don't impact earnings. They don't do anything but cause a buyable panic," said Jim Cramer on his "RealMoney" radio show Monday.

As examples, Cramer cited the doubling -- even tripling -- of heating costs, the dramatic decline in home values, the war in Iraq and the doubling of gas prices.

But "the consumer may very well be going through the healthiest month of spending -- to the point where it's shocking how good it is," Cramer said, adding that consumers are victims of "serial killing" by short-sellers and the media.

Cramer said he went to Kohl's(KSS Quote) and Target(TGT Quote) over the weekend, and both stores were so crowded that he was "fighting the line."

Cramer said he also got turned away from The Olive Garden(DRI Quote) because it was so packed. "Nordstrom(JWN Quote) is hitting the cover off the ball," he added.

"If consumer spending is so dead," why would it be this way? Cramer asked. "Permanently pessimistic pundits ought to accept the market's judgments for once," he said.

Google Won't Get Hurt

"Don't stocks go down when they decide to make acquisitions?" Cramer asked.

"Only Google(GOOG Quote) can buy YouTube and not get hurt," he said. Besides Google, "any other company would risk demolishing its own stock" Cramer said.