What amazes Jim Cramer most about the people who say that the Fed needs to raise interest rates, is that while the economy is doing OK, there isn't a boom in anything.
"Calling for the Fed to tighten here is like calling the fire department to turn down your thermostat. It is overkill," the "Mad Money" host said.
Some investors fear a bubble in technology, but Cramer couldn't find a single example of a tech bubble when he reviewed the conference calls from last quarter. It was all about rapid adoption of the cloud, which he considers to be one of the most deflationary trends out there, as it tends to lead to employees being fired and less money spent on hardware.
"Sure, there WAS a bubble in tech, with the privately held unicorns. But guess what? That is over," Cramer said.