chart. i think you play it on earning today. get a quick dtrade out of it. >> guy >> great to have you back. wynn resorts >> thank you all forwatching see you back here tomorrow ed mad money startrit w.s ghno machin my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer! welcome to "mad money. trying to make some money. i'm just trying to save you some money. my job is not just to educate but to entertain, teach, put in context. call me or tweet me. @jimcramer as long as i have been involved in investing, i have almost never heard a good word about a

fed sheet, at least when they're in the office. even when they make the market happy like today, nasdaq surged 2.50%. the grouching is endless about these guys ben vernaki is the guy that got us out of the. at the time he was derived for his individual gobbledygook. janet yellen was unremarkable except for a gaffe crushing our last major bout of inflation. but people seem to forget he caused a horrible to recession to do it at the time he was the most hated man in america so goes jay powell he raised interest rates he received criticism he should have done much more.

but those sellers made a big mistake. and the market made them look like idiots because once powell started talking in the press conference, you realized, wait a second this man is going full malcolm x. he's going to stop inflation by any means necessary. he will raise rates until inflation is destroyed he can do it because finally he played his trump card. he doesn't have to care what happens to the economy in terms of a traditional slowdown. he's not worried about unemployment because it is so easy to find a job and without other people coming into the workforce, it might stay that way. the first was bond the market, not the stock market bond yields came crashing down real hard, which is what was needed because it means the feds regained credibility now the press conference, powell hedged a bit and said there are signs the economy is slowing

i want to cut this inflation, causes rates to go up and stocks go down. he needs to listen whatever is happening, it's not enough he will not let up with the rate hikes until he sees compelling evidence that inflation has been slain. rates are plummeted for not just one month, two month but for a long time. we know it will be difficult for powell to bring down inflation by himself russia/ukraine, the energy food sources. but as he said, something easy but he'll do it anyway because we have so many more jobs than people available to do so. i think he waged inflation first because that's the most powerful tool in his arsenal. in other words, he can't do much about the supply not control it that's russia. that's ukraine that's china he will slam demand. he will find other jobs, probably lower wages he wants to take inflation down

to 2%. that's a great way to start. the job market is ridiculously strong the greatest of powell's plan is that it totally appeases the office is he taking a huge risk here? i don't think so but he showed determined that he's determined the decrease inflation even if it causes joblessness. there are consumers that aren't spending because they lost their jobs the latter group will be able to bring down prices. that's how powell will win we will see job losses and then job recovery but he's uses the job losses to stop inflation they will not be measured. it is that newfound toughness that allowed stocks to rally today. we just didn't think powell was going to use that to tamp down demand we thought he was a softy. it is a harsh way. but it is really only across the board tool he has.

expect two things to happen. first many people who question powell's toughness have to question their toughness they never put it in such stark terms because nobody wants to be a bad guy. he can slay inflation even without help from overseas because he's willing to sacrifice the job market to get the situation under control. if there isn't enough joblessness for powell's liking, he will create more. he's counting on a tight job market to prevent a hard landing from turning into a crash landing. can there be a silver lining to this yes. if inflation will be beaten, even if it slows the economy, they should circle back to the stocks that always buy when that situation occurs, when growth wanes, but inflation wanes, too. that helps the enterprise, not the consumer they shouldn't suffer under powell's plan because he's driving down wages to reduce demand makes me feel good that we have been buying a lot through the

trust. oddly, though, some of the consumer stocks mostly related to travel went higher. i think that wanes but there is one group that should have gone nuts today, a group that should have shot up like a rocket, a group that didn't get enough love and i'm talking about the banks. oh, yeah they will take a hit from higher unemployment the banks instantly became much more profitable today and they will every time he tightens. he will tighten and tighten. and they will make fortunes. it's the banks that didn't move. so i think investors went one for two today. powell adopted a malcolm x philosophy with regards to what it does to the job market, awful if you get laid off, but great if you own tech stocks the softball the banks will hit into the upper deck. the last thing that powell said that potential young home buyers night need to reset about buying the house as it might be too

expensive. i think it needs a reset and recalibration. the whole 50 basis point was a mistake, that slap up the head from last friday turns out he's got fangs turns out he'll take a recession even and be relatively low job losses but he will no longer stand for inflation, just like allen greenpan when there are 45 basis points do you know what happened in 1994 here's the chart courtesy of larry williams he said the rally would start today. look at this turned out to be a pretty good buying opportunity, didn't it? right here right there. all i can say to the critics is maybe powell's as good as all the other fed chiefs you hated at the time, only to be loved once they retire and the stock bearers, well, this is not the chart you want to see i need to go to jason in south carolina

jason? >> caller: jim, first-time caller here, man thank you for taking my call. >> i am so glad you called how can i help >> caller: my question is on inflation. >> yes. >> caller: like most investors, man, i'm watching for capitulation i'm looking for company buybacks to start again i'm looking for oil to go back down to $50 a barrel i'm looking for bitcoin to stabilize. i'm looking at credit markets, specifically the hyg and crg to change its card. but, again, my question is on inflation. >> right, right. go ahead. >> caller: with all that being said, you know, why was the market so surprised, you know, by the latest cpi number i have heard many analysts on the network -- >> jason, that number was horrendous i think people thought there was a first level of inflation they mistook what's happening in russia, you crk ukraine and chi

being more benign. i think oil comes roaring back there will be more demand when china reopens. how about tom in illinois? >> caller: thanks for your resilience in the face of this crazy market. >> i'm sure trying i'm glad club members are patient for me sometimes it's hard. how can i help >> caller: what do you think of google at this point >> i did a big deep dive on google last week i think it is the cheapest growth stock in america. right there. right there. that chart the cheapest in america. and i mean it. that's the one to buy. michael in california. michael? >> caller: hello and booh-yah, jim. >> booh-yah. >> caller: i have been going down ever since except today what are your thoughts today >> i think amazon is true to form but we have a good piece of

research yesterday saying the second half is going to accelerate but we are almost at the second half, so i like amazon we did sell a lot from the trust. the only one we didn't sell a lot of, by the way, is google. maybe powell is as good as all the other fed chiefs you loved at the time. "mad money" tonight, inflation and market volatility, is it a time to take a look at a gold stock? that will be my take in this market it seems impossible to find a winning game i'm looking at low price to earnings stocks that could be worth looking at and customers love i'm getting the latest from the ceo. so stay with cramem. don't miss a second of "mad money. follow @jimcramer on twitter tweet him.

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we have had an inflation problem for over a year now and we spent the last six months worried about a recession. why isn't gold doing better? gold it is seen as a stable store of value, the perfect insurance against inflation or any other turmoil in the market. we have a ton of it, right one of the best gold buyers has an insurance policy. yet, the price of gold has been off loaded it is barely up where it was traded a year ago. we have seen barrett gold

created a yearing ago it hasn't done badly stocks up. when you think all things gold, it will be on fire right now because we have ramped inflation. the conventional money management says this situation should be a gold mine. maybe gold's negativity foreshadowed the new jay "tough guy" powell that we saw today. wouldn't that be something when you think about what's gone wrong with gold, this could be the perfect time to get exposure what went wrong with gold was the rise of crypto currency. people thought it was a safe haven. then gold topped out in 2020 and it's been range bound ever since, okay? see, it's been nothing stuck between $1,700 and $2 per ounce. that rate didn't change. you had a brief blip up when

russia invaded ukraine i think that all comes down to crypto sure, everybody knows that gold is hedged against inflation. but traders found a supposed store value that was a lot more fun and for a while a lot more lucrative. it is no coincidence that bitcoin started roaring in september of 2020. obviously, i can't tell you what motivated every buyer. the equivalent of digital gold because that was the sales pitch. gold was yesterday's store value. something that would be made obsolete by crypto currency. i never fully believed this argument but i believe everything else respective of assets but i understood the store value argument turns out they weren't hedges against anything turns out the store value argument these guys are incredibly vocal in social media. they're really amazing

i think they're compelling they were constantly bashing gold, poor performance and how bitcoin made you a heck of a more money i don't want to single out pomp, but he got me into bitcoin in 2020 i cashed out, you know, candidly at a good price to buy a farm near where i grew up i share all this with you. he suggested in a tweet yesterday that the stock market would best benefit from powell doing nothing. does he mean the dow would have been up a thousand if powell had done nothing or did he get it wrong? these are everywhere mark cuban called bitcoin better gold than gold another smart billionaire said the same thing even analysts at jp morgan put forward the inflation edge thesis i think they're aiming for the gold

all the hand wrringing taken frm the gold play book where crypto was created i'm not saying crypto was toast. although, practically everyone i told you thinks it is one big con. but you can't seriously argue that bitcoin is a hedge against inflation. not any more bitcoin is down nearly 70% far from being a hedge against the government printing money. it is one of the biggest beneficiaries. wow. bad chart. but people still need a store value. now that crypto is collapsing, i see them reverting to gold the bitcoin boom sucked the life out of gold. if you want gold exposure, my favorite, bad gold for my money, this is the best operator in the industry the best portfolio on earth, along with some producing copper miners if the copper had been up

higher, it would still be gold they're holding span from south africa to new guinea they have good geographic diversification. a clear strategy with a ten-year businessman in place they do a great job of communicating these plans to the investors. so the results barely come as a surprise he can keep producing for many years to come while also copper production during the decade the cost of copper is so low when it is part of a by product of gold. the company has a track record of quarterly earnings forecast they haven't dropped the ball once since a little over three years ago. if you want to know why i'm recommending the stock right now beyond bitcoin it is because barrick gold has gotten really cheap. the stock sales for 17 times earnings that's roughly in loin with the

s&p 500, which sells for 15.7 times per earnings there is not much risk of the earnings getting clobbering going forward. as people were banning gold from bitcoin come crawling back on top of that barrick has a terrific dividend policy a variable dividend paying out all the variables in dividend today. that might be an opportunity last quarter that meant for bab barrick, what did you get? another ten cents on the strength of balance sheets so that payout is more than it looks. you have a 4.1% yield. a company buys back stock. that is highly unusual for the group. here is the bottom loin. this one, oh, d, could be a fabulous moment for these guys

now the potential buyers will no longer be lured into crypto. if i'm right, then the one to own is best of breed barrick gold, which i think is a steal down here at $19 and change. stick with cramer. coming up, if a stock is sporting this key metric, crames says beware. some big names arewearing the scarlet letter, and we reveal them next. ♪ ♪ [ maniacal laugh ] [ laughs ] [ laughs ] [ clucks ]

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you know me. i always say i don't care where stocks come from i only care where it's going you see 180. it's now in the 90s. does it matter if you bought pepsico at $177. there is one exception to this rule

that's because these stocks only look cheap thanks to the facts that the earnings estimates for the out years for next year, for next quarter are too high. they can go lower and lower and lower. sometimes these numbers go down. sometimes they go to zero. i saw this happen in the late 1980s when i was trading bethlehem steel. this thing was supposed to earn $13 a share. so it struck me as a fabulous buying opportunity what could be cheaper than a stock trading at two times earnings first the dollar got very strong, making steel producers less competitive catastrophic earnings. b.s. didn't make $13 per share. it actually lost money that year the stock wasn't trading cheap at two times earnings because the multiple next thing you know the stock did get cut in half. we had a recession and never really recovered

now so many companies look to achieve. some are bargains. some could be the next best thing which became the name of the black cat that suddenly took residence at my house. an omen the omen let's talk about bethlehem steel, but better run. this is a stock that trades at just over three times this year's earnings estimates. it traded at $34 in april. now it is at $18 this is the only time we care about where stocks come from because it's educational so is it finally time to buy cliffs as it was known back in the day? 1980s with that bethlehem steel situation. and for the record, the last time we were worried about a recession in 2020 when the pandemic first hit, cleveland-cliffs bought at $2 and change we're headed for a genuine

slowdown let's stand things on their heads because people are more optimistic on a day like today we have data on imparts. if anything, they're down from last year. we know there is a robust steel market the only weakness we have seen is the decline in warehouses because amazon goes over let's say the slowdown isn't that bad and it is half of what wall street is expected this year in that case, it's too cheap to ignore as long as we're not going into a doozy of a recession i don't like it, but history says we will lose money as the economy cools. what do you want to do maybe you want to buy a better steel company like nucor again, same exercise nucor's stock male in april. if you bought it the last months when it looked like it was cheap, well, you got smoked. it pays a quarterly dividend and a robust buyback

straightening the count by 11% more importantly this morning it preannounced a much better than expected analyst pretty much doing great regardless of the economy. nucor is a much safer bet. if you don't believe we're headed for a recession, you have my blessing to start buying right now. if you do, it is traded all the way down to 27 tremendous buys opportunity of course, but it is more than $90 below where the stock is now i scanned to find other stocks these things will get hurs hurt in recession, but if jay powell can steer us to a less harder landing. trl, toll brothers, $117 million in the last year most importantly, four times earnings homebuilder for the wealthy. when you look at redfin, the real estate sector does people on the verge of collapse

but maybe not for the wealthy. they have a tremendous franchise in higher priced homes 4.26% mortgage rates keep in mind, this is a $44 stock that traded at 13 at the 2020 lows. next i can consider ford motor at six times earnings, 3.5% dividend yield the product line is sold out prices aren't being cut. we got a car shortage after all. their share of electric vehicles, but enough to add to the bottom line, which is good because they won't make any money because of commodities protection by dividend, ford seems a decent bet remember, it is a bet. disaster scenario, trade at $4 in the pandemic low. it is at $12 stock trades at six times earnings, not to mention a robust buyback

managers thinking about selling their european business for 8.7% $8.7 billion, and they will buy their stock back the disaster scenario is really ugly homes dry up we don't need washers and driers it trades at 154 ugly but not out of the realm if powell can't stop inflation that easy the bottom line, there are stocks with insanely low priced earnings that can't be bought under any circumstances unlike sadly cleveland cliffs, which i like then there are others you can justify owns nucor, toll brothers, whirlpool and ford while ford could go much lower, keep that in mind if you take the risk jason. jason in montana. >> caller: big sky country, boo-yah from sky country thank you for taking my call. >> thank you for having me. >> caller: can you share some of your thoughts on citibank please

>> it is a real quandary for me. i can't understand how it is trading that much below it's stock value when it's that low a much better franchise. arthur in california arthur >> caller: hey, jim. how is it going? long time fan of your show. >> hey, thank you, man thank you. >> caller: the question is luminar technology, lavr what are your thoughts about this for the long run, and is it a good time for a buy-in. >> look, i'm going to screw up on some stuff, but i'm not recommending any monies that make money this isn't a period to look to make a lot of money, but i don't want to lose a lot of money. only if you fell more sane about the economy than other people. here they are. but if we get a steep recession, all four could go much lower because that's called multiple retraction i want you to keep that in mind.

much more on "mad money. for post earnings decline, is it time to take a sip of the west-based coffee chain? i'm checking in with the ceo the fed has a plan to cool the economy. what it will take to be successful and tonight's edition of the lightening round so stay with cramem.

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we got results from dutch bros, the hyper caffeinated oregon-based coffee chain. from the companies that came public last year, this might be one of the best performers when industrial reported more than a month ago, both their earnings came in better than expected with management cutting its four-year forecast while

saying discouraging things in response, obviously, they will be pressured. the stock plunged 27%. this happened in one day $34 to $25 and then came right back dutch bros is back to $34 and change like the disappointment never happen give credit to the fact they have a great concept is that enough to justify owning a stock here the president and ceo of dutch bros with a better read on his business welcome back to "mad money." >> name, great to be here. thank you. >> now, we have to see where things are because i was disappointed in the last quarter. i know you were, too you were tough on yourself in the conference call. first, have things picked up if the trend had been down, i'm hoping may was a good month for dutch bros. >> we saw may come back a little bit better than april. but i would tell you i still

think there is tough headwinds out there for the consumer we had trends that took themselves through april we did see a slight improvement through may, but it is not back where we would like it to be or want it to be long term. >> fair enough let's go over jp morgan's objections this is important because they had been recommending the stock. first they say dutch bros is a discretionary occasion, and it is an easy cutback when times feel tighter like what the fed wants, true? >> i don't think so. i think that's the case for some of our consumer base we have seen afternoon day parts soften we have seen some of our energy drink business soften. that would lend to more of a discretionary consumer but our morning day parts have been stronger recently, which shows that consumer demand and people who are in their routines are coming to dutchbros every day. but our business really has softened in the afternoon. >> softened in the afternoon

you have cold drinks could any of it be the fact you had to raise prices because of the incredible lift in dairy prices >> yeah. we have not raised prices in an aggressive way i think we have been very moderate i think we have been mildful of the customer during this pricing journey. we took price in november. we took price again this spring which we fully executed on june 1. we will evaluate it early in the fall but we have been careful about taking price too much for the customer we feel like we're in this with them versus taking prices and putting our baristas in a situation where they have to explain something maybe they don't have control over. we're monitoring it closely. but we want to take care of customers here. >> here jp morgan saying hourly turnover worsened in q1, stepping up from 56% to 62%.

and it sounds as if mobility of the employee base may be increasing true >> well, so the numbers would tell you true. i would say that they are normalizing. i would say that we had an incredible run during covid. i think the challenges here is that we're comping off of a covid base remember, we were open and we were a great job to have during those times when a lot of other people were closed or we got that great resignation, right? >> right. >> i talked about the great application. i will tell you our applicant pools are back up to normal ranges and i think the competitive nature of the part-time employer right now, i have never seen it greater in 30 years. and, now, you are going to see some job switching as things settle down a little bit i still like our numbers they're as competitive with anybody in the industry, so i still think we're an incredible place to be. >> now, you and i both run

businesses he's a tv guy. but i ran a couple companies but my take is that the public loves your stock you've got some money in the bank and you have that great credit line. but i love you to keep expanding. why not tap the equity markets they love you. and then you wouldn't be worried about your balance sheet. >> well, we are evaluating that and we will continue to evaluate that opportunity as we look at our structure and where we want to go with that. it is probably not something i can't comment on at this time. i will tell you that our growth plans regardless of that are very strong. we'll open 130 locations this year through the second quarter we're right on track to get that done we're adding massive numbers to our app continually. so all of it indicators of this business in the 20-year journey that we're on are very strong. and we're excited about that. >> okay. so the fed talked about today about some costs are actually coming down already. i'm hard pressed to find ones that are coming down

are you seeing any of them come down >> you're seeing them come down in building materials. >> really? >> i would tell you people are starting to talk about -- you're seeing materials that have peaked and maybe even declined a little bit the challenges in building right now are in labor i think that our cost pressures on the material side are starting to slow down, if not drop a little bit in some categories, so there is some of that happening. >> well, it is pretty clear that the fed is going to be your friend here. i took jay powell's comments a meaning, listen, we have to sacrifice some way to get demand down that will be through some joblessness. you know, obviously ironic and sad way, we will make it so you have an easier time expanding. >> yeah. i think -- you know, i don't think it will make it easier i just think that the -- i think the landscape is in correction mode i think that we need -- you know, for us, it is like let's

not overcorrect and be somebody who we have never been let's make sure we stay with the consistency of the 30 years that's got us here we are utilizing the app, which is a new tool for us in promotion and connecting with the customer in a way we have never done before and utilizing that as we go through these tough maybe comp times but, remember, we're making 20-year decisions for this company. and we got to make sure that this business as it's been will continue to stand the test of time. >> well, i agree with you because i like your product and i like your service. that's the president and ceo of dutch bros thank you for coming on. appreciate it. >> thank you loved stock. loved product. speed bump you decide "mad money" is back after the break. just chill out. >> chill master jay. >> the chill master is in the house. he's happy. >> the lightening round is coming up when "mad money" returns.

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lightening round is sponsored by td ameritrade ♪ >> it is time for the lightening round! and then the lightening roun is over are you ready? we'll start with kate in georgia. >> caller: hi, cramer. >> hey, kate. >> caller: how are you >> i'm god how are you. >> caller: i'm good. i'm so grateful for the investment book. it's been indispensable during this turbulent time. >> i really appreciate your kind words. thank you. >> caller: cramer, i received

some stock from a spin-off in another position i hold. i want to know your thoughts on it it is wds. >> it is a great company it has a great yield a lot of people decided that oil is no good anymore i want to read double oil where there is a good yield. thank you for your kind comments from the investing club where we have been working night and day. steve? >> caller: hey, jim. >> yes. >> caller: thanks. long-time listener first-time caller. >> excellent. >> caller: i have been watching, of course, the stock market the last couple of weeks and watched the wonderful magic show going on like the disappearing profit. >> true. >> caller: looking to trend some of my portfolio assets and there was a stock you recommended a couple of months ago call. >> they have alzheimer's possibility. remember, we are recommending and own eli lily for the

investing club is the way to be involved with the good work that they're trying to do against alzhe alzheimer's. let's go to drew in illinois >> caller: mr. cramer, thanks for having me. >> i think alibaba is good. but i'm not recommending any chinese stocks for this show the chinese communists will just kill you chet, how are you? >> caller: i'm doing well. >> great what's up? >> caller: so i have been watching applied materials for a decade in and out. and i just went back in. what do you think of it? >> i like amat very, very much i think you're getting a real bargain back here. they are the reason why they have great semiconductors.

let's go to frank in pennsylvania frank? >> caller: yes, jim. >> go ahead, frank go ahead, frank. >> caller: yeah. my question is on charge point holdings. >> i think charge point will be a winner i don't think you are going to make any money that's the stock that the fed does not want you to win on. let's play with the feds rules john in north carolina john >> caller: hey there, jim. thanks for taking my call. >> hey there, john. >> caller: what you do to services you supply, i was in your business almost 40 years. i got my cfa when you were probably still back at harvard and i know how difficult it is my hat is off with you. >> i'm playing with an open hand boy is it ever embarrassing. >> caller: you tell people to buy stock and then it goes down immediately. >> it's tough. but i want people to learn amn services

>> suzanne has been on a number of times it is a great staffing between this is really the time for amn. i think it is a great opportunity to buy that. i would go with that, and thank you for the kind words it means a lot let's go to bobby in florida. >> caller: long-time listener. first-time caller. >> okay. what happened to bobby bobby in florida, bobby. how about we go to danny in new mexico. >> caller: hey there, big guy. booh-yah from sante fe the stock is planet fitness, what you feel about it in today's current environment. the second part is i work out there. when i go there during the weekdays, they don't carry cnbc. they do carry the georgia

bulldogs on the weekend. i want to watch you guys during the week. >> i think it's a pretty good situation. i think the franchise is doing well i don't know i think it's an opportunity. and you know i like chris rondo a lot. he was on our network the other day. he's very, very good how about david in florida david? >> caller: hey, jim. this is david from hot, sunny florida. how are you doing? >> i'm doing well. how are you, david >> caller: pretty good i want the get your take on sofi >> up 62%. if they have the deposits, they will do as well as the other banks that i have been saying. if you do deposits, you will do well because the fed is giving you free money they did not rally enough because they're so hated that is a mistake. greg in virginia greg >> caller: jim, thanks for taking my call

first-time, long time. >> all right. >> caller: all right thanks 7% dividend, what is your opinion on starting a position in mpw >>i like that one. they can back that yield up. i think it is a good situation i know it's falling apart because interest rates continually going higher but i think maybe with the feds call today, maybe a more slow and methodical rallying in yields and you will be okay. let's go to cam in pennsylvania. >> caller: hey, jim. my son has a question for you booh-ya! with starbucks being down so much what is the best stock to invest >> meta, m-e-t-a that used to be facebook, and i

think they are going to be the winner, and we're starting to see the proof of that by the stocks starting to rally as long as we have been building it up regularly. and that is the conclusion of the lightening round the lightening round is sponsored by td ameritrade coming up -- this market may feel like a shakespeare tragedy. will thou stick with cramen? next

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the fed needs to take a page from shakespeare as in the first thing we do we kill autothe speculators in the original play, it's lawyers. think of this as an adaptation if you think it is essential for jay powell to wipe out earnings speculators, an easy money problem you always think about do back to 2020 when they got the bail-out checks. go back to when robinhood was alive and well well, they're still alive. go back with anything with a

name read the wrong way. these were all the products of extremely easy money these companies got funded too easy venture capitol is backed anything that moved. did a higher round and then still higher round finally start-ups came public at a higher price it was as ridiculous as the year 2000 it was great for the billionaires who pushed it it was punishing for you of course, the fed killed a lot of that just by talking negative when i was in san francisco, i felt the biggest land mines were the remaining disrupters because they wouldn't be able to make easy money off you anymore spak i have no idea what happens to these companies or the companies that became pub hlic over the ls couple years i don't see any sign they're

opening up speculators. we know the fed wants to slow down spending. that's why we got a triple rate hike today that means destroyed wealth. remember, the feds no longer are in the helping innovators mode unless they're good enough to attract investment but he really needs crypto to absolutely bite the dust that's the plan, man >> crypto and its cousins, nfts are the most speculative assets out there. i came to realize that was just not so i got some fools greater than i am to take me down on my position and at a higher level i wrote a summary of my take-aways from speaking to cfos they went to a club members

only when i asked them about bitcoin, i heard the same thing over and over again jim, it is a it is con i wouldn't go that far everyone is betting on what i ended up doing the thoerry that someone dumber will come along and buy at a higher price then the whole thing implodes. bummer before they get angry, i could say the same thing about buying a painting bitcoin has that roulette where you can wager on black or red. that's not really a game of skill, is it more like tulips totally unjustifiable boom that's crazy in retro spect and can be eaten by rabbits. basically, in order to cool economy, they need consumers to be more worried about their jobs and spending it needs spec youlators to turn into investors

they need to stop so people start saving that money. trust me after what i heard today, powell wants the speculation to end it's just he wants you to end it i like to say there is always a bull market somewhere. find it r you on "mad money. the news with shepard smith starts now >> recession storm clouds get darker can the fed land the plane i'm shepard smith. this is the news on cnbc the biggest interest rate hike in 28 years >> the federal reserve raising the funds rate by 75 basis points >> why stocks went up on the news and what it means for the economy. >> it is essential we bring inflation down >> plus, the president's warning to big oil with gas prices at record highs the january 6th committee releases a new video is this a tour of the capitol or a reconnaissance mission why the panel wants answer