have a short position in it. i think there's kind of a one up, two or three down setup here and that's one of the worst-looking charts on the market right now >> thank you guys for watching "fast money. we've got "mad money" with jim cramer starting right now. we'll see you starting right n. signing off from the nasdaq marketsite this times square my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm kramer. welcome to "mad money. welcome to cray mere ya. i'm trying to make a little money. my job not just to entertain so call me at every day this market gives you a chance to make some money. yet every day people reject those chances because they don't believe. they just can't figure out how stocks can do well when things

are so bad out there a record 69% of the public hold a negative view of the u.s. economy according to the latest all america economic survey so it's no wonder that 24% said it's a time to invest in stocks. that's a 17-year low in history. people don't feel good about the economy. but you know what, it doesn't seem to impact the average dow beginning 11 points up and declining 0.04%. nothing. you know what, people should not confuse their negative views in the economy with a negative view on making money in the stock market since when does your economic

out look have anything to do with making money in the market. we know from years of experience it doesn't matter where we are in the business cycle as long as you can pick the right stocks at the right prices and the market, i must tell you gives those prices to you all the time not because it is a store with great prices but because there is a confusing amount of truce, half truths, false optimism, mistakes and those all often wind up producing fabulous opportunities for you at home. tonight i want to parse the whole shooting match and people love to quote warren buffett or to be more blunt over the short term the market is stupid as cardboard over the long term can be pretty smart but in my opinion you can be smarter that's the point i want to talk about. 76% think it's a terrible time to invest worried about the fight over the debt ceiling or presidential election or bitterly divided country

keep in mind it's not you who determines the stock price the individual stock ages ago on the wrong kind of stocks and gave up en masse and it was bogus facts. we've seen it all happen so many times so it's not the home gamers who set prices but the professionals and they make stupid mistakes every day. let me give you an example because it happens constantly. let me give you three. let's start with a company i know i'm obsessed with, nvidia i made another pilgrimage to meet the renaissance man ceo of nvidia i have a tremendous level of reverence for him. everything i've known about nvidia shows me he is more thoughtful, special and filled with wonderment than any other person i've met in business save perhaps say apple and steve jobs who i never got to meet.

lately we've heard a lot about this stupid term artificial intelligence but we just like to bandy about. he explained in english and said if you put another semiconductors together they can do incredible things like what? any of them. well, like if you want to draw a picture in the style of your favorite artist, i said if i wanted to see how sezanne who painted stilllives was to paint a seascape you could show me what it looks like second laters it's in front of me hey, he also showed how it looked better than me frankly. it sounded just like me because of that stupid voice of pine and told him these are wonders he said it was available to anyone who wants to use it who is that? i don't know but at first no one believed jensen and then chatgpt occurred

now, everyone believes jensen. they all want in to ai and know have has been the same they announced the stock was upgraded from a sell to a buy. that's right he initiated coverage on nvidia with a sell rate on december 14th when the stock was at $176. it's now at $276 i'm quoting that bad timing. this was right around the time that chatgpt started getting popular suddenly clients figured out what to do with nvidia's h100 the $20,000 hip that you need boatloads of if you want to do the ai stuff the chip we don't want the chinese to get this in the analyst's defense, nvidia's core business was slowing and he was also worried about the usage of cards for mining headwinds galore but missed the story, didn't he since then the stock rallied 100

bucks. sure you could argue their highs are there. i'm not here to debate that. i'm pointing out while it's discouraging to see the professionals get it wrong their mistaken negativity gave you an incredible buying opportunity that lasted for months that's nothing to do with the economy. second example charles schwab. in the last month we heard more negatives about it than any other time i can recall. how clients were fleeing and caught with a mismatch with skittish depositors and unrecognized losses of their bond portfolio i said it was all nonsense i know i'd get laughed at. youtube showed it to me, twitter. then schwab reported yesterday and learned that, indeed, most of the negatives were flat out untrue in many cases there were lies promoted about i competitors short sellers, lazy journalists. if you believer me read that conference call where the ceo tees off on everyone who libel

his company because no one will investigate what happened. like nvidia i'm not here to say how much i love schwab but to show you once again this may be the worst time to invest but when a company can see its stock falling more than 30% when there was nothing wrong, worst time to invest but invest. finally let's talk about today's travesty i could do one a day and call it the kramer travesty show johnson & johnson, my investing partner spent hours seeing how it could go up, up, up then spend the rest of the day dropping ultimately falling 6 points from where it was before the market opened. why did it drop? we fault one negative rumor after another after another after another about this great company. lots of lies put out today lots of wrong stories, no one is ever going to have to apologize for what they did to you if you own j&j but lie after lie after lie after lie and throw in some slander and a few more lies. that's what happened

until the end, like schwab, it didn't matter. i couldn't fight them all. too many boxers, just me out there in the left-hand corner. there was a bogus raid and it worked the market was an idiot. not the point of the story we buy it a ton more than the second the whole point is that the pros get it wrong constantly or actually trying to get it wrong or lie or misdirect or naive that's why you come to the show. the averages don't show it but that's the truth bottom line, i don't blame you for freaking out and catching out but i do blame the professionals for destroying your confidence rather than being discouraged when they screw up you should take advantage of the

mistakes to buy high quality stocks they've run from because they're scared or don't know how to do the work sunny in illinois. >> caller: it's your friend sonny from chicago, illinois >> how are you >> caller: doing well, doing well invests club member, longtime fan. thanks for all you do there. >> thank you i hope you listen to "the homestretch. i come out fighting this comes out after 2:00 at the end you say, did he really say that? just give me ten minutes of uncensored stuff something about investing in a steel company. i own shares of nucor but another company came out with confirming their guidance and they've been cutting costs what's your opinion on cleveland

cliffs >> i actually think for the risk taker, the person would wants to say i believe the economy is going to turn around and that the fed is done, then you would buy cleveland-cliffs, clf. that will go 17 to 30 in a heartbeat whereas nucor will go step by step only if you're bullish times like these i want you to drown out the negativity and find some high quality stocks to buy in the weakness even if they're telling lies about them and driving them lower you'd be surprised of what you find out "mad money" tonight with recession fears mounting could an investment in a gold mine have your portfolio settling into a gold mine we'll learn more about the story and 2021 was a big year for ipos where do some of these names stand now? you don't want to look i'm grading the companies that hit the public market in a crowded year and investor day today and i saw a lot of very impressive messages. up next we'llsit down with the jewelry kingpin and find out

what's on the horizon with the top barrasso stay with kramer. >> announcer: don't miss a second of "mad money." follow @jimkramer on twitter have a question, tweet kramer, #madtweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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♪ when the mini banking crisis hit us we saw a flight to quality. people rushed to hide their money in treasuries or other safe assets like gold and since then even though the financial system stabilized gold hasn't ret

retreated. i always tell you it's worth having some precious metal exposure, insurance against instability. don't trade it just everyone it the best way is the gold miners so let's circle back to one we follow agnico-eagle mine during the last four years a lot of things happened including a merger with kirkland lake and another deal where they put the canadian assets of one we like when we started the show, that's the kind of expansion you want with the underlying commodities going on don't take it from me but shawn boyd is the executive chairman and had a better read on the situation. welcome back to "mad money." >> great to be here, jim. >> i've got to tell you with these two acquisitions, i knew you when it was $3 and kirkland, i followed them for years and seems like there may be more money to be made by buying the stocks people don't care about

without them realizing how much is in those different mines. >> i think you're right and i think that's where we are now. i think we've seen inflationary pressure we've seen some risks in the mine building part of our business and we determined two or three years ago that the balance was tipping more to buying assets rather than building them and so we were very active over the last couple of years, as you said, positioning the company to be the third largest producers producing 3.5 million ounces it's what you can do with these assets and of that production base 3/4 is in canada now and that's our backyard. we've been doing this for over 60 years so we like our positioning based on that m&a happening with us over the last couple of years. >> now, despite that mining going out you have remained very committed to your dividend strategy which is why i've always been a big fan. >> yeah, and that's been

important. we paid a cash dividend tore 38 years and did that many times here without the benefit of a hedge book when gold was $250 so it's all about discipline and it's all about generating cash from these assets so we're this a position now where as you said in the lede, gold is 3% off the all-time high without a lot of fanfare sitting here at 2000 without a lot of investor interest and i think what the interesting thing is now, these businesses are set to generate significant cash flow but the shares haven't performed so if we go back to third quarter of 2020, gold hit a record high, our stocks is about 46% off of the all-time high at that point and many stocks are in the same position so a little bit of capital flowing into the space is going to drive these share prices up at these gold price levels that we think we'll see higher gold prices as you said. >> i always hear when i listen to the people and have total respect for anyone who does

crypto but they always say gold is everywhere. crypto, no, it's limited it turns out crypto is unlimited because they create new coins every day but since i talked to you, we have not found a lot of gold this this world >> no, and i think you're right and as i've said i've been doing this -- here for 38 years so if you look at our two biggest mines, so these are two of the top ten goal producers, detour that came with kirkland and canadian -- we owned since 2014 and recently with yamana wrapped it up. these assets have been around for decades. the mining started in the '50s and detour started in the early '80s, that means there's not a lot of new goal mines being found and that's why we're seeing m&a because there's too many players, not enough high-quality opportunities, and i think this is what is driving m&a going forward, which i think is good for the gold price because supply is not going to

go up as gold price goes up given lead time, excessive capex to build the mines and look at these acquisitions in our backyard and grow them given the skills that we have in place and the experience we have in these jurisdictions. >> it is very -- you've been self-effacing. there could be some electric costs that go up or suddenly there's labor costs that go up there have been a lot of unseen costs for some of your better mines in the last couple of years. how can we make the scene more an unseamless? >> yeah, i think what you've seen is given this inflation aerovironment industrywide we've probably seen about $100 increase in the cash cost to produce an ounce of gold we've seen more than that increase in the gold price to cover that up. i think what we've got now is we've got an industry that's focused more on cash generation, managing costs, not so much

focused on growth for growth sake but focused on consolidating in regions you know well to keep the cost down. the big reason for the acquisition is the $2 billion in synergies given these assets we're close together regional proximity and if you look at footprints it's important with geology, with three geographic location of these assets, small geographical footprint we've got 2 million ounces of our 3 1/2 in a small footprint in ontario and quebec, 80 million ounces in this small footprint. that 80 million ounces is equivalent to what barrick and newmont have that's why we bought kirkland lake and wrapped up the deal with yamana in our backyard. >> if you try to tell people there's a lot of gold in the world maybe the better way to put it, do you think you add -- do you increase the amount of gold by, say, less than 1% a year that we have?

>> yeah. hopefully that's it. >> right >> yes, that's right and so i think the real question is, is that, you know, our experience over time is that the lead time from discovery to production is just getting longer, so gold can be up 20% to 30%, more gold doesn't show up. it takes time. and it's tougher now than it's ever been. >> well, that's why i like you, sean, because you've been around and love the dividend. you're paying and keep find the good places and one of the few discipline the operators i wish there were more like you. thank you for coming back to "mad money." >> great to be here, thanks, jim. >> sean boyd, executive chairman at agnico eagle mines. they have tremendous discipline and added a huge amount of properties if you like gold you want to consider owning a gold mine. "mad money" is back after this >> announcer: coming up, survivor series, which ipos of recent years have passed muster? cramer finds the gems from 2021 next

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last time we spoke to the biotech that got a monster takeover bid from merck at a 75% premium. i bring this up not because stocks are mispriced by professionals, not amateurs but because prometheus is one of the rare ipos from 2021 that is making any money at this point this stock is up more than 900% from when it became public. before merck's takeover bid it was the best stock of the nearly 400 names of its ipo cohort but it's got me thinking about that generally awful group, why because even though most of these stocks have been total dogs representing pieces of low quality merchandise that were

foisted on the public there were decent ones that slipped by too. they're just hard to find. when you look back at the 382 stocks that came public in 2021, and are still trading because a lot of them are, only 13% are above their offer prices that is an astounding rate of disappointment that again goes far toward explaining why so many feel is a terrible time to invest. the companies, the bankers, they all make you feel like that because it was rather than taking a victory lap for warning you away from the group, though, i want to focus on rare 50 names that have managed to defy the odds the ipos from that rotten 2021 vintage that have actually gone up why? think about it a company has to be awfully special to rise above its horrendous cohort so it's worth spending time with the rare companies that graduated with honors and how they're doing in the difficult post-ipo world that's why all week we're going to be diving into those 50

names. searching for stories that could be, okay maybe not the next prometheus that's too much to ask obviously but at least how about going in the right direction and tonight what we're going to do is start with the ones that are snackable that are easy to feel, consumer oriented plays first somebody will be familiar with this. if you don't, we'll do a refresher. exponential fitness. a gym chain where the stock is up 173% from its ipo price rollup of a boutique fitness space and expand and i have recommended this one repeatedly. most recently after speaking to the ceo last november. since then it is up more than 50% with the stock setting new highs almost daily and in its most recent quarter they reported an excellent set of numbers with a is vaery encouraging forecast which jumped in 16% in a single

session. they could get hurt in a recession but we haven't seen any signs of a slowdown yet so i have to remain bullish okay, yeah, xponential with a 50% gain if you bought it on my recommendation and need some money you can take a little off the table but let the rest rice. next, sovos brands it became public in 2021 up 44% from its ipo price these are the same guys who hold the license to branded sauces and pastas and frozen foods. those not in new york, rao is a institution that i love going to and their packaged goods are really good. you'll see them in almost every major supermarket. vovo also has decent italian and yogurt brands. i highlighted this a little over a year ago and after running a

screen of ipos with good cash flow it stuck out to me. since then it's up 37% although most of that gain has come in the last month after sovos had a great quarter. we saw this coming the problem, it now sells for 29 times this we're earnings estimates even as wall street expects numbers to be flat versus last year i don't know to me that does look expensive but yet again they've been able to beat the numbers for the past six quarters in a row so maybe the estimates are too low and the stock has more upside. that's what i like to look at undersalled cohorts and a stinking class you find companies that you give up on and say what's all there could be and then they keep going and going like this. like this. and like vita coco up 38% since it came about i wish i paid more attention they make the branded coconut water in my house for heaven sake and i didn't mention it along with an energy drink and

sustainable enhanced water brands this company didn't have a great year in 2022 but sales were up and there was a big earnings hit. this year, though, vita is on track to more than quadruple earnings year over year. that said i'd love to have them on the show. bring some of your water i love it. sure, it trades at 33 times earnings but that's not too expensive given the turbocharged growth rate plus whenever you see one of these smaller beverage companies you have to remember it's a potential takeover for the majors. we've seen that time and again since we started the show. i'm all over this one. these are all really good companies that got buried in just a really miserable vintage, it became public in 2021, dutch brothers and now at 30 and change as much as i like the dutch

bors, i got to admit that they may have to let's say -- they got to give us a spark here. they had a 1% same-store sales growth last year and the low single digit numbers they're forecasting for 2023, not good enough now, long term everybody that watches knows i have a winner and it's going to be a great one and we added it just the other day when we had a caller yeah, i do like it but short term i think they're spending too much time expanding. and too little time paying attention to same-store sales. that is a risky view too risky. viewers know i support the company and the stock. dutch bros knows coffee. i know stocks. they know coffee better than me. you want your stock to go up, focus on some same-store sales improve. not getting to a certain number in a short period of time. it rarely 23 ef works. show down the expansion plans and get the same-store sales up

and i will start pounding the table. again, fifth let's not forget cramer fave, whoa. on holding, the swiss sneaker company that could be the next growth foot story in footwear. the company reported blow-out quarter last month and make a compelling case. it means the stock could have a lot more room to run you got to love them 2023 is going to be gigantic for on finally, this is another one that's kind of like while dutch bros is shooting itself in the foot, this is one that i think is fantastic portillo's and we went there and it became public in 2021 the stock up 2% from its ipo price. not exactly impressive but this sad group of 2021 names is graded on a curve situation. portillo's, much higher levels in the past but aside from the

ipo bust it's had many self-inflicted problems. see, portillo's used to be privately owned which had a large stake. not the family that is going to sell it. every time it gets on a roll, their private equities sponsor dumps millions of shares into the market untimely and miserably and the rally comes to an end it's like they just don't care they probably have made so much money on it, maybe they don't. eventually they'll finish their selling and at that point i'm a believer in portillo's again even though these private equity guys have buried you alive with sales and it's downright embarrassing their beef sandwiches are that good maybe even on par those made by the original beef in chicagoland. by the way the beer is good if you haven't seen it. they would never dump stock like these private equity guys are doing. he had class bottom line, where most of the ipos from the class of 2021 have been total duds if not just miserable, awful situations,

there was some calling names right here and the gold one stands out because they're the only ones up and amenities are worth earning. tonight i'll cover the rest of the rare ipo winners through the rest of the week stop selling the darned stock! maybe they heard me. maybe they didn't. kevin in texas, kevin. >> caller: boo-yah, jim. how is it going? >> a fantastic day how about you. >> caller: just missing my dad. >> we all do, don't we >> caller: yeah. >> all right think about pop all the time well, yes, and we support each other. thank you. what's going on? >> caller: i got a question about upstarch i love their technology. their ai is fantastic. i believe that they will be replacing fico scores in the near future and i've been buying on the way down. i started a position at 150 and continuing to buy. my question is, should i buy,

sell, hold -- >> i don't want you to buy any more of it and i'll tell you why, kevin i want to see them get out of this funk that they're in, i mean, they do have good technology, you're right but they have not done well and i'm not recommending any stocks of companies that are losing money. that's just my rule on "mad money. and it's kept us all out of a lot of bad stocks and i'm going to continue to follow my rule. all right, despite the wreckage among most of the ipos from 2021, there are some quality names within the group you have to know where to look and get some of the people selling the stocks because they're so greedy to stop. all right. much more "mad money" ahead including could the jewelry company continue to shine? i'll get the latest from the ceo and it's so focused on taming inflation but is it possible we're in a better situation than we all think i'll give you my take and all your calls rapid-fire in the lightning round so stay with cramer

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let's talk about one of the greatest turnaround stories. signet jewelers. they've gotten out of bad businesses like offering credit while stabilizing its core jewelry sales, investing in technology and expanding aggressively and closing 1,000 underperforming stores that's how the stock rallied more than 800% over the past years and came down substantially from 2021 highs.

they were at the new york stock exchange and rolled out new targets including an earnings per share goal of 13 to $16 up from $12 last year it jumped more than 3% and wouldn't be surprised if it has more room to run it's become extremely profitable category killing winner. after that investor meeting we spoke with the ceo of signet jewelers take a look. this is a great day for you and you deserve it but first out of this yesterday there was a bit of news i think will be significant for shareholders which is you talked about this new engagement tailwind factor that could boost your earnings dramatically over the next three years. >> yeah, it was a very exciting day thanks so much, jim. we raised our midterm expectations for revenue up to 9 to $10 billion for market share up to 11 to 12% and we said we would continue to deliver nongap

double digit up to 12%, worth $600 million to us is the fact that engagements didn't happen as much at the end of last year, there's a trough going on right now in calendar year '23 but that will end toward the end of this year and then we'll have several years of tailwinds we expect it to be a 20% to 25% tailwind between calendar 2024 and calendar '27. >> why this is so important beyond the fact that the numbers were obviously too low is that you have repeatedly set what many people thought were way big stretch goals andyou've beaten them and i want to give you the floor to just talk about what you inherited and what you've done and the dramatic changes including an amazing amount of cash you've been able to generate. >> well, thanks for that i'm very proud of the signet

team this i've done a terrific job bringing us into a period of significant financial health that means we can invest in the business and we've invested $750 million in digital data and technology advantages. these have now become substantial advantages for signet, especially because we know that 78% of jewelry shoppers start their journey online at the same time, we've paid down half a billion dollars in debt we've gone from a four times leverage ratio to two times which is very healthy and below our 2.75 times target. we've also been able to return $1.4 billion to shareholders in that period of time so becoming financially healthy has given us the ability to consistently invest for competitive advantages. >> we hear blue nile i talked to you about it something bought at a rock bottom price, 360 million.

i think this could be worth a huge amount two threes years from now an asset we have been looking at for awhile that's one of the benefits of our cash flow, every year since we began our transformation on average we've generated $800 million of free cash flow, so when an asset like blue nile came down in price, we were able to opportunistically take advantage of that moment to make an acquisition we had been looking at for awhile and did the same thing with the other acquisition. >> i know some were saying you have to askabout david's brida going bankrupt why don't you listen this is apples and oranges what you've got going is a juggernaut at this point. >> we're very excited about signet's potential and it is a transformed company. i did an investor perception study before we had our investor day today and you'd be surprised to know that a lot of people

still think that we have credit as a risk on our balance sheet. >> we tried so hard. isn't it discouraging? we talked about this endlessly so not -- you had to rename -- i don't know what to do about it a legacy you ended day one >> well, it's, you know, it's not a risk for signet. we have no credit risk on our balance sheet. we are a very modern retailer. we have 40% of our stores, 50% of our sales off mall and our mall portfolio is very healthy 80% of our mall stores are in a and b malls because we closed over a thousand low performing doors and we took the time to get this transformation right and it's really made a difference for the business. >> look, i know you as a competitive person you were a competitive proctor i know you as someone who likes to win and also a sports fan do you find it unbelievable that you are in the super bowl year

and people think you're not making the playoffs? >> well, that's a great analogy and that's really what today was all about. i mean, i think one of the facts that i shared today is that over the last several years signet has outperformed the s&p 500 by 1.5 times, the xrt by two times. we've taken our operating margin from, you know, a low in mid single digits now consistently up in low double digits and so we're very proud of the progress we made. >> in the meantime, you don't lose sight of the prize. you have mother's day coming up. will that be a big day any advance feelings you have ai. you must get a sense of what the consumers are up >> it's one of the enduring things is that people are spending more money on fewer people that they care a lot about. so mothers --

>> they're spending more money on fewer people. >> exactly. >> they're spending it on the people they love close and not just -- >> exactly right so both valentine's day and mother's day have become bigger holidays for jewelry and signet benefits from that. >> now, when you look at -- you've laid out the 11%, 12%, i have no doubt about that what's the big goal here is there -- not one company 25% of the jewelry market. what else can you do >> signet already has about a 30% share of the bridal category so i think that sets a benchmark for us we started there because bridal is the emotional and financial point of market entry in the category it's, you know, the first time a couple has really made such an expensive investment together many times and so we think that leads to lifetime value. so, you know -- >> lifetime value to the customer have you been able to identify a number for a person who buys at the beginning? >> not one that we've talked about publicly

but, yes, we have looked at how we can think about bridal as that entry point, it serves as the glue that holes it together and extended service plans, repair opportunities and look at romantic gifting as an opportunity for mother's day, valentine's day, birthdays, all of those so hi our leadership position in bridal is the springboard to grow our market share further. >> i got to hand it to you and people don't know but when you first took the job i didn't know if you should take it. let me tell you what i think is going on she said, you don't know, jim. let me have a crack at it. i'm so proud of everything you said and so much more. it's been a great winner for shareholders and for the company. gina drosos. she blew away the numbers once again, stay with cramer. >> announcer: coming up, cramer ta takes your calls and the sky is the limit.

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>> announcer: "the lightning round" is sponsored by td ameritrade it is time, it's time for "the lightning round." play the sound [ buzzer sound ] >> and then "the lightning round" is over are you ready, skee-daddy? craig. >> caller: boo-yah >> yo, yo, chill is in the house. what's up?

>> caller: i've been looking at this fast, loose stock seems to trade at its lowest multiple in the sector, around 14 times earnings got a peg ratio under 1. what's your long-term thoughts on jack in the box >> okay. okay, so number one is chipotle and then number two would be mcdonald's number three would be wingstop and then number four and five is jack in the box. let's go to matt in north carolina matt >> caller: hey, cramer, thanks for all the money you've been making me. >> my pleasure what's happening >> caller: penske automotive group is up 600%. >> you know why that is. they are so darn good. i like the guys. penske is the smartest guys. that's why they're winning i want to take more calls. it's my anniversary and i frankly want to cancel dinner and take calls to khalid in florida she's not watching come on. what's up? >> caller: i just wanted to know

go marh. >> just go buy bitcoining. just go buy the bit if you're going that route skylar in california >> caller: thank you jimmy, boo-yah >> boo-yah right back. >> caller: i appreciate everything you do. microsoft, i bought it back in january. >> mr. softee going to 320 why are we debating it i need more calls. are you telling me i got to go dinner for my anniversary? i guess i do and that, ladies and gentlemen, is the conclusion of "the lightning round. >> announcer: "the lightning round" is sponsored by td ameritrade coming up, pessimism is in the air. but cramer has a prettier picture to share next you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me.

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the fed needs to keep tightening to beat inflation we don't seem to realize the economy is in much better shape than most believe. we should think twice about killing this great moment. it's taken too long to get here and all can be undone if the fed is too stubborn about tamping down wage inflation which could be a considerable cost to other asp aspects. if you listen to the conference calls you get a picture of a nation where jobs are plentiful,

housing costs and payment credit card payments are coming in time and bank of america will tell you his bank which i regard as a national bank has the lowest provisions for bad debt in 53 year, 53 years for heaven's sake that's worth celebrating all thanks to the incredible job market the one the fed is trying to unwind. we had a better than expected number of housing starts, something that is great news because the worst part of consumer inflation is the cost of shelter which means rentals as i see it the only way to stop increases is building more homes. the housing number is a step in the right direction. maybe if we let it percolate landlords will think twice about endless price 45hikes. the consumer is flush right now. after bank of america reported some monster good results, ceo brian monahan reported smaller savings with $2,000 to $5,000 now $153,500.

these are real meaningful savings. i know we don't want inflation to erode purchasing power but also want them to keep growing, don't we these numbers are outrunning reduced inflation rate that is important. look, when we add inflation there was 8% it made sense for the fed to ruthlessly raise interest rates because 8% inflation is destabilizing. we're not there anymore. the fed should start worrying about whether it really wants to destroy this pretty decent village in order to save it and take short-terms so high it's not worth putting it in anything other than money market funds. i don't think so because that's a guaranteed recession or consider this, in another two months we'll have more than 2 million graduating from college looking for a job. unlike the last few years these kids might have a harder time finding one. how could they not if all we ever hear about is we're heading

to a recession who will be on a hiring spree? when you have something like general tiff ai with the potential to disrupt so many fields it makes sense to hold off on hiring to see what jobs this technology can destroy. why hire someone if you have to lay them off thanks to chatgpt and wait to see what happens and what it can do ai doesn't need health insurance, no hr problem, better hire at the end of the day we've never had so much opportunity for so many different people in our country. at least when it comes to finding jobs and i worry the fed is now going to start sacrificing those opportunities on the alter price stability with three more rate hikes i'd do one last 25-basis point hike and say let's slow it down and see what the job market looks like before we make our next move. we don't have to wait long if all those graduates get jobs then the fed has my blessing to tighten again. why not wait a little longer to see what all this talk about a recession and general tiff ai can do to soften up the labor market

what's the harm in being prudent? at the end of the day i'd rather have 3% inflation and a decent economy than a recession that lets the fed hit its 2% inflation target i like to say there's always a bull market somewhere. i promise to find it right here on "mad money. i'm jim erercrcramam see you tomorrow. hi, i am brian sullivan. tonight, how are the streaming wars shipping up after spooking investors early? we will tell you what might have changed their minds. plus -- >> everything congress has said there is one agency in the securities and exchange -- >> you won't answer my question. you are the head of that agency. give me a break.