Please enjoy this free sample of our premium content featuring Jim Cramer. To get all of Cramer's premium content free for a limited time, please register here.NEW YORK ( RealMoney) -- Are we running out of reasons to hate stocks at precisely the moment they are most hated? Think about it. How many times have you read that the individual investor is fleeing because of the volatility and the inability of stocks to make you money? How about the percentage of bears being the highest since the bottom in 2009? How about the off-the-charts record of short selling, making bets against the market -- 11.6% of shares sold short up 9.5% in July, the biggest gain in five years? How about the protesters on Wall Street expressing hatred of the process of capitalism, and who can blame them given the grave inequities in the system and a lead New York Times story of "Median incomes shrank further after recession"? How about the corporate spring breaking out, with shareholders and customers alike savaging Netflix ( NFLX) , the greatest darling of the era? All of these signposts could be right, provided we are headed into a severe recession. That's right, not just a recession, but a severe one -- the 2008 scenario that, until today, has been the m.o. of this market. For a month now I have been saying that we have to take the Lehman scenario off the table in Europe, the scenario that Tim Geithner decried as fanciful in my interview with him, one that was mocked immediately as being some sort of house rap that the Treasurer Secretary had to maintain. But you know what happened this weekend? Dexia, a gigantic bank and a quintessential Lehman derivative replete with no real deposit base and a huge amount of bad holdings, caused France and Belgium and Luxembourg to unite to create a good bank and a bad bank and a solution was born. On top of that, Merkel and Sarkozy are now on the same page. Sure the Dog Catcher of Malta and the sewer commissioner in Slovakia may not be on board, but when the two biggest powers show you that Lehman isn't going to happen, you take off the systemic risk that everyone thought was on. Sure, it wouldn't matter if our data here was getting weaker. But number after number last week here showed no sign of degradation and the employment number, which was without a doubt strong and could not be caveated, made the recession call a bad one even as Washington has done nothing right at all to take it off the table. Plus, a nice confluence of a 75 cent drop in the price of gasoline and what turned out to be a robust back-to-school season amount to the need to restock and actually hire ahead of what was already written off to be a terrible holiday season. It wasn't just hiring that's looking up. How do you justify rail car loadings at the highest in three years if the economy is supposed to be the softest in three years? Can they all be dummy railcars? Gigantic Lionel toys? How do you justify channel checks that show that earth movers are in short supply? How do you rationalize the sale of a million expensive iPhones in a 24 hour period, especially when the new iPhone was supposed to be a huge disappointment?