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Cramer: 'No' to the Sept. hike for this reason

On Wednesday, CNBC's Jim Cramer stuck to his position that a September interest rate hike is a bad idea.

"I think that this recovery is this thin," he said pointing to a small space between his fingers. "You got housing and that puts a lot of people to work. And then you got what? What?"

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Despite a strengthening housing market, Cramer said other sectors such as oil, manufacturing and retail are "not so hot."

"Why would you bother to do this [hike] and send the dollar through the roof, really kind of ending our exports and giving everybody what they want, which is the U.S. consumer?" he said.