Jim Cramer, the host of CNBC’s “Mad Money,” has become famous for his controversial stock picks and economic opinions, to the point that he spawned an “Inverse Cramer” ETF that trades opposite to Cramer’s recommendations.
Cramer’s latest column for CNBC’s Investing Club centers around a positive outlook to struggling markets.
“An economic wave is about to hit that will be fantastic for investors,” he wrote.
Warren Buffet, on the other hand, said just last week that the “incredible period” the U.S. economy has been experiencing is about to come to end.
“The majority of our businesses will report lower earnings this year than last year,” Buffet said, speaking at Berkshire Hathaway’s annual meeting May 6.
The focal point for Cramer’s outlook centers around data in the April Consumer Price Index that he believes is inaccurate.
“Almost every calculation is incorrect. The data is wrong. These numbers are not put together by Google,” Cramer said on CNBC’s Squawk on the Street May 10. “They’re put together by people who are making a lot of phone calls. I make a lot of phone calls. I make better phone calls than they make.”
“It’s over,” Inverse Cramer Tweeted in response to the article.
Many users agreed with this sentiment, with one saying “crash szn is upon us.”
Another user jokingly translated Cramer’s prediction, saying that “we’re about to see our third once in a lifetime disaster soon.”