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Jim Cramer just doesn't get it. He thinks the market is really confused about commodity prices and wouldn't know a good thing even when it bit it in the face.
Yet again on Thursday, both the and Dow Jones ended in the red when the price of crude collapsed to $43. At this point, Cramer has stated the benefits to low oil prices so many times he's turning blue in the face.
"With commodity prices down and down big, as they are now, that gives you a benign market, a positive one, less roiled by a host of earnings disappointments and interest rate hikes that can slay any bull, even a raging one," the "Mad Money" host added.
How does he know this?
Cramer has been through the mill with commodity inflation. He reminisced back to 1987 when there was a bout of insanely high commodity price increases. He remembered that all sorts of goods like paper and chemicals shot through the roof.
And then what happened? The market crashed.
"I never forgot how much you have to fear rising commodities. I hate commodity increases. They are a disaster for stocks because raw costs impact gross margins and declining gross margins lead to declining stock prices," he added.
Cramer saw the same thing occur back in 2008, and while it is painfully clear that commodity spikes contributed to the two largest market crashes of his lifetime; for some reason people still question if cheap oil prices are a good thing.
The "Mad Money" host has exhausted himself talking about the benefits. How small businesses and investors now have expendable income to go out to dinner, or hire more, or spend more.
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In Cramer's perspective, there is one glaring negative to low commodity prices though. It is currently used as a barometer of growth in China. The Baltic Freight Index, which measures raw goods traffic in China has been sliced in half and does not show signs of recovery. He sees that China is definitely slowing down as a result.
But in the end, Cramer isn't sweating it, and he doesn't want you to either. Stop worrying about the decline of commodities, and start reaping the benefits that they bring. After all, there are a heck of a lot more consumers in this country than producers in the S&P 500.