In 2007, Jim Cramer notoriously went on a wild rant against the Federal Reserve, claiming that "they know nothing!" His rant followed 17 straight interest rate hikes that ultimately led to the great recession, and Cramer could clearly see investors were playing with fire.
And while many laughed at the antics of the "Mad Money" host back then, sure enough the economy had a monstrous downturn. And here we are again—Cramer's ready to rant!
The economy is once again looking strong, and the hot topic of the day has become a question if the economy will overheat. Outgoing Dallas Fed President Richard Fisher has called for an immediate increase in rates.
"Right now, he couldn't be more wrong. In fact I would go so far as to say his call to action is dangerous if the Fed listens to him, and it could cause a tremendous downdraft, if not a bear market, in all worldwide equities, along with a dramatic decline in economic activity," Cramer said.