Jim Cramer says it's European Central Bank President Mario Draghi's comments at the gathering of central bankers in Jackson Hole, Wyoming, that are responsible for sending the S&P 500 surging past 2,000 for the first time. Draghi's comments indicated a move away from the German-style fiscal austerity of the past few years and instead toward reviving growth in the region. Cramer says this rift with Draghi siding toward growth is what's driving Europe higher and spilling over into U.S. markets. The Eurzone economy is at risk of slipping back into recession. A survey on Monday showed German business morale dropped for a fourth straight month in August.
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