Now, typically, it would make sense for the Fed to tighten given the level of job growth, Cramer said. But the United States does not exist in a vacuum. It is part of a global economy, and Cramer wants Yellen to understand that the U.S. interest rates are now dramatically higher than the rest of the developed world.
Instead, the Fed's agenda has been very extremely narrow-minded.
"I waffle between being angry at the Fed, and just wanting to shake the members into a reality check of what is going on in the real economy," Cramer said.
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In Cramer's opinion, the U.S. is at a difficult crossroads right now, and what Cramer and Yellen learned when they were younger no longer applies. So, for Yellen to take the stance that interest rates need to go up is not logical.
The books that Yellen learned from were all written before Amazon and Walmart killed off higher-paying retail jobs and made digitization and off-shoring the way of the universe. They were written before the sharing economy made it so that employees have to scrape by with multiple jobs.
The country is in a unique position right now because job increases and a radical decline in credit aren't supposed to be happening at the same time.
But they are.
So, if Yellen stays on course, Cramer has no choice but to hope that the loss of oil jobs feeds into the numbers that will prompt housing, aerospace and auto cycles to peak. So far, the issues in the oil patch or European banks aren't grabbing her attention, so maybe that is what it will take.
"This time around, it is not that the people on the Fed know nothing. They just know too much about the way things used to be and not enough about the way things are," Cramer said.