This column originally published on our subscription site RealMoney, where you can read Jim Cramer's commentary daily.
Would you like the situation? Wouldn't you like the idea that the Fed would be on hold at these low rates? Wouldn't you like the increased purchasing power you would get, especially at a time when the housing tax credit has concluded? Wouldn't you be looking for stocks to buy that were related to the consumer as they came down because of exogenous circumstances like foreign banks? This market is giving you a resounding answer: Nope. That would be foolish.. None of that matters. Don't you dare think of buying a Best Buy(BBY), even as it can buy its products more cheaply with a strong dollar and sell them to you for less. If you are thinking about buying Apple(AAPL), you are nuts, because of what's going on in Europe. Attempt to buy a U.S. bank? Are you kidding? Do you know how much PNC(PNC) has on the hook in Spain? In Portugal? It might as well be called Portuguese National Bank, right? Isn't BB&T(BBT) Banco Bibao Trust? Silly you. Don't you see the relation between the euro and the price of food at Whole Foods(WFMI)? Are you an idiot? Can't you see how Ross Stores(ROST) is going to get its butt kicked? That Deckers(DECK) has to slow because of Greece? The idea that you think that a company like Standard Pacific(SPF) trades with mortgage rates here and not mortgage rates in Lisbon is just fanciful. You are a moron. Of course, Hewlett-Packard(HPQ) has some exposure. Europe has been weak forever, and you have to ignore what they say about it getting stronger, because, after all, aren't they bozos who shouldn't get the benefit of the doubt? Wasn't John Chambers of Cisco(CSCO) just fibbing when he said things were strong in Europe? Is there a vast national conspiracy among U.S. companies to lie about "the crisis" and how it will crush Whirlpool(WHR) sales, even as it doesn't have much overseas except Brazil? Loading Comments... 1 2 3 Last » Next ›SHARE:
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