"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
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.
Google Won't Get Hurt
"Don't stocks go down when they decide to make acquisitions?" Cramer asked.
and not get hurt," he said. Besides Google, "any other company would risk demolishing its own stock" Cramer said.
With a ton of pages, YouTube is an exciting site with something to entertain yourself every single day, he said, adding, "For me, I've got about seven minutes to be entertained each day."
, which Cramer owns for his charitable trust,
Action Alerts PLUS, may have been able to buy the company, but now says it can't pull it off because it doesn't seem like its management is involved or engaged.
With "a change in management there, they probably could have bought YouTube."
Companies such as
couldn't do it because "none of their sites have the infrastructure or the traffic to drive people," Cramer said.
Also, Google is "not embarrassed at buying a younger person's company for big money because Google is a young company with big money," he said.
Anyone who's used
products knows that it's one of the classic companies that they need," Cramer told a caller.
"There's a lot of sophisticated new stuff" the company is coming up with, and it's "just now beginning a stream of absolutely terrific new products" that will contribute to earnings going forward, Cramer said.
Cramer believes that Adobe is undervalued and that the stock is still cheap. He expects it to continue to move higher than the $37.73 the company is trading at midday Monday.
Cramer was also positive on
because it's the leading online lottery company in the world.
Cramer told another caller who said he's in the "house of pain" after shorting
Research In Motion
( RIMM) that he wouldn't be surprised if the stock added 20 points.
Cramer would own the stock even at its 52-week high of almost $113.
At the time of publication, Cramer was long Yahoo!.
Jim Cramer is a director and co-founder 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
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