Cramer: Blame the CDC, not the Fed

"Mad Money" newsflash!

According to Jim Cramer, the wrong federal agency has been getting blamed for the stock market decline.

For years, Cramer has listened to critics of the Federal Reserve speculate on how the bond buying programs that are designed to help the economy will create more inflation. In fact, many thought that rates would soar; they bet against the Fed and have now shorted bonds. This turned out to be the worst trade of the year.

"Amazingly e,ven though it's obvious that deflation has set in, not inflation, and interest rates have down down hard without anything to do with the Fed, these ideologue gasbags won't stop urging rate hikes at the slightest sign of job growth. They are shameful in their self-serving predictions that also happen to be dead wrong," Cramer said.

So if it's not the Federal Reserve in the kitchen with the lead pipe, who was it?

The Centers for Disease Control’s Tom Harkin Global Communications Center is shown at the organization's Roybal Campus in Atlanta.
James Gathany | Centers for Disease Control and Prevention
The Centers for Disease Control’s Tom Harkin Global Communications Center is shown at the organization's Roybal Campus in Atlanta.

According to Cramer, it is the Center for Disease Control. By giving false assurances about Ebola, they created a lack of preparedness. Their inability to get ahead of what is happening is the reason why the death of one person in a country of 317 million could send the stock market into a tailspin.

To spread blame evenly, Cramer also thinks that the State Department has totally dropped the ball. Their failures to properly deal with the ascendance of ISIS and the war between Ukraine and Russia have done nothing but add salt to the market wound.

"I'm not saying that any of these things were easy to predict, but the inability of our government to get ahead of pretty much every geopolitical story has a heck of a lot to do with the jam we're currently stuck in."

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Cramer said that the only area that can be exonerated is the Federal Reserve. If only the rest of the government had the Fed's foresight, then he thinks perhaps the country would be sitting on new highs instead of new lows.

Perhaps Janet Yellen can pass on some of her wisdom to Dr. Tom Frieden.

Call Cramer: 1-800-743-CNBC

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