Jim Cramer can see all of the chaos happening around the world right now, and there is just too much investor complacency going on for his taste. In fact, he doesn't want to buy anything.
And while the "Mad Money" host is a big fan of buying stocks on a dip, what happened in the market on Monday is far from a dip, in his opinion.
"Look, I believe that dips are good buying opportunities, but do you mind if we at least get a dip first? There's a lot of insanity in this tape, specifically the insane level of complacency that buyers exhibited toward the other markets around the world this very morning," Cramer said. (Tweet This)
So, what are these signs of complacency that Cramer says have led to insanity in the market?
Most investors actually thought that Greece was really negotiating in good faith. Who the heck gave them that idea? To think that the Greek government would agree to any deal that didn't wipe out all of its debt is pure insanity to Cramer.
The kick-the-can, middle-ground approach has been a ridiculous failure. The largest sign of complacency to Cramer was the fact that people thought that a deal could have been put in place, even though both the Germans and the Greeks clearly stand on separate sides.
Also, did people really think that Puerto Rico wouldn't matter? There are investors out there who have spent a fortune buying bonds in Puerto Rico, and many hedge funds borrowed money to buy them. That means there is plenty more pain ahead; Cramer always says that it is the margined hedge funds that cause the most pain.
It is important to note that this list of warning signs does not mean that the U.S. is headed into another Lehman Brothers situation. That was systematic risk, but this is earnings risk and geopolitical risk.
However, Cramer recommended that investors at least wait for a real dip before buying. He is siding with prudence on this one.