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"There are three words I keep hearing on the news over and over again," Jim Cramer told the viewers of his "Mad Money" TV show Tuesday. He said that every story is about something that's going to "derail the economy."
Despite all of these negative stories, Cramer said something is obviously keeping the economy on the rails, as it continues to power higher.
Cramer said he's getting tired of hearing how everything from higher gas prices to repaying the TARP money to a rise in bond yields is going to "derail the economy." He said the media is putting a negative spin on everything, instead of giving a fair or balanced argument to the contrary.
Higher gas prices, he said, means there's actually a pickup in demand. "Isn't that a good thing," he asked. Banks are repaying the TARP money they borrowed but isn't that what they were supposed to do, he said. And doesn't a spike in bond yields mean investors are starting to buy bonds again, he added.
Cramer said the economy is a lot stronger than anyone in the media is giving it credit for. Clearly all of these negatives are happening to some degree, but even on weaker days, like today, the market is still bouncing off its lows and heading higher.
Just because news editors have a negative bias, that doesn't mean there's not a positive spin to their stories, he said. He told viewers to consider both sides and decide for themselves.
Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleague Dan Fitzpatrick over the chart of online auctioneer
According to Fitzpatrick, the chart of Ebay signals nothing. There's nothing in the chart indicating either a move higher or lower. Fitzpatrick concluded that shares of Ebay are likely to trade sideways for the foreseeable future, with no major institutional interest.
But Cramer had a different take, saying Ebay is a classic turnaround situation. He said that while users may not be happy with the company's new CEO, the company is now headed in the right direction, offering more free shipping options, improved payment protection, better product searching and lower insertion fees.
Cramer said Ebay also has great value in its PayPal and Skype assets, as well as $3.2 billion in cash. He said he also likes that 52% of the company's revenue comes from outside the U.S., making it a play on a global recovery.
Cramer said he'd be a buyer of the stock.
Cramer added George Economou, CEO of
, to his "Wall Of Shame" list of the worst CEOs.
After receiving a recommendation from a viewer, Cramer concluded that Economou, who has presided over a 66% decline in the value of his company since bringing it public in February, 2005, does indeed have a record on under-performance worthy of the Wall Of Shame.
He called Economou a destroyer of value in a company which would have seen its stock rise if he were not at the helm.
Cramer told a viewer that he'd consider both
as plays on upgrading the nation's energy grid.
Cramer told a second viewer that he lost viewer's money in
and he's not going to offer an opinion on it again.
Cramer was bullish on
He was bearish on
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At the time of publication, Cramer was not long on any stock.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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