"Remember, that's the one ideological position we have on 'Mad Money': we're pro higher stock prices," Cramer said. "If I thought tax reform was really on the table, I would've been pounding this stock to you, telling you you've got to buy it."
Instead, with the Russia probe, Trump's errant tweets, stalled health care reform, and the latest Paris accord development, that possibility now seems far-fetched.
"There was a time when I would've pounded the table on the bank stocks after yesterday's drubbing because I believed that some of the most onerous regulations that have hamstrung banks from controlling their own destiny would be repealed by now," Cramer said.
But now, trading weakness has overshadowed prospects of deregulation for the bank stocks, putting them in uneasy territory.
Cramer even argued that Trump's deregulation efforts may actually be backfiring, as the commander in chief seems more focused on unraveling restraints on fossil fuels.
"Trump's pushing fossil fuels all over the place, but coal just isn't economic versus natural gas in most parts of the country," Cramer said. "Trump favors aggressive oil drilling, but all that will do is cause more of a glut and lower prices. Self-fulfilling."
The "Mad Money" host asserted that whether investors think Trump still influences market moves or not, at the end of the day, the economy is receiving little fuel from Washington.
And while the Obama administration proved the market can still move up with few pushes from the federal government, Cramer found it unfortunate that the self-avowed pro-business president is doing so little.
"What we have now is a businessman president who's rendering himself irrelevant by spending his time tweeting about his former opponent, Hillary Clinton, and replaying his only big win to date, the election," Cramer said. "That's not exactly businesslike, and it's not what's needed to live up to this administration's promises on economic policy that impact business that seemed so bankable six months ago."
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