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Those who are really bullish on the U.S. economy are just plain wrong, Jim Cramer told his Mad Money viewers Wednesday. He listed recent economic data showing why you shouldn't be bullish.
Cramer said there's only one question on everyone's mind right now, and that is are we heading towards another recession? It sure seems that way with auto sales declining, oil prices continuing to slide and, most recently, incredibly weak home sales. Add to that a plethora of political candidates telling Americans that our country needs new leadership to get back on track and chaos overseas and it's easy to see why people are concerned.
So why did the Federal Reserve raise interest rates back in December and why are its members still talking up another March rate hike? Cramer said it's becoming increasingly clear these Fed members are out of touch with reality and we can only hope they wake up before it's too late.
Executive Decision: Cheryl Bachelder
For his "Executive Decision" segment, Cramer spoke with Cheryl Bachelder, CEO of Popeyes Louisiana Kitchen (PLKI) , which on Tuesday delivered a 1-cent-a-share earnings beat but with slowing 2.8% growth in same-store sales and tepid guidance.
Bachelder said the weakness Popeyes is seeing is only short term and she fully expects to return to the normal growth rate as the company continues to execute on its long-term vision. With consumers becoming more uncertain, Bachelder said the value pricing at their competitors has become more in fashion, but that will soon be met with an exciting pipeline of new products.
Looking longer term, Bachelder said she's also very excited about the company's "one technology" initiative, which will put all franchisees on the same technology platform, allowing for better cost controls, benefits for employees and much needed innovations for Popeyes customers such as mobile payments and loyalty rewards.
Cramer said he fully expects Popeyes to recover from the recent weakness because it is a solid performer and has long-term vision.