Just because Volkswagen has some serious problems on its hands does not mean that people will stop buying cars; it means they may stop buying Volkswagens, which is more business for every other company in the industry.
"It is nuts to think that people will stop buying cars because VW rigged the emissions tests. Yet, nobody cares right now. At some point they will, just not now," Cramer said. (Tweet this)
The second example Cramer cited was Boeing. Did anyone notice that it just won $38 billion in orders from various Chinese airlines for 300 planes? The aircrafts ordered were the most lucrative on Boeing's product line. But that did not impact the stock as it sank more than 1 percent on Thursday.
Another symptom that Cramer noted is that yield protection has also been thrown out the window. Many investors tend to rely on protection from yielding stocks. When a stock goes low enough, the rising dividend yield is supposed to be attractive enough to curb selling versus low-yielding bonds.
However Cramer saw that higher-yielding stocks have now ceased to protect investors from losses, which is another sign of a bear market.
"These stocks are no longer acting as bond market equivalents, and it's not due to fear of the Fed. It's because we fear falling stocks," Cramer added.
Read more from Mad Money with Jim Cramer
Cramer Remix: Beware unicorn private companies
Cramer: Spot an IPO revolution before it happens
Waiting in line at Apple? There's an app for that
The last positive sign that failed to excite investors were the companies that reported fantastic earnings. Companies like General Mills, ConAgra and Lennar knocked it out of the park. Cramer couldn't believe how great their earnings were, yet the stocks barely budged.
Ultimately, Cramer found that right now it does not matter how strong a company's results are because investors are selling the good with the bad.
"We get reprieves but they are often sucker reprieves. One day they won't be. We have not reached that day yet, and we need to go still lower. So, stay patient," Cramer said. (Tweet this)
Rationality will creep back into the market one day. That time just isn't now.