U.S. stocks gained finish near session highs Wednesday, propelling the Dow Jones Industrial Average and S&P 500 to new record levels, but Jim Cramer noted the recent rally has not occurred without objection after objection from stock market bears.
(Read More: S&P, Dow Log Record Highs; Nasdaq at 12-Year Peak)
The "Mad Money" host noted that over the past four months, the bears stoked fears of the so-called "fiscal cliff," the date by which Congress had to agree on a budget or subject the U.S. to automatic spending cuts and tax increases. But even after the U.S. went over the cliff, the markets didn't move all that much, Cramer said.
Later, the bears worried the Federal Reserve would raise prime interest rates — maybe dramatically — because policymakers feared its easy money, low interest rate program was driving inflation, Cramer said. But Fed Chief Ben Bernanke has said he doesn't plan on winding down quantitative easing until employment greatly improves, so this worry was unwarranted, too, Cramer said.