"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 people who short stocks and by the media.
Cramer said he went to
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
because it was so packed."
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.
Their predictions are reckless because they keep people out of the stock market, Cramer said. His goal is to keep people in the game.
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