He's a buffoon and he is doing an injustice to "investors" who actually believe he knows more than the public. I used to be one of those people admittedly when I first started investing, but then I started educating myself and realized what a fool he actually was. But the blind don't know someone else is blind unless they can see; he is the blind leading the blind.
As for why he said what he said; He inferred from an increase in sales numbers and slight utick in salaries last month that that meant consumers would not be sopping at DLTR due to the "increase" of money in their pockets.
His fallacy is that the numbers he is looking at are skewed. How so? It is a fact that the rich account for 80% of the spending in this consumer economy and that the rich(bankers, athletes, etc) kee getting increasing salaries. So the rich are uneffected by this economy and THEY are the ones spending; they are also the only ones getting real raises.
Read this book called plutocrats that came out this year. Phenomenal book and you will understand Cramers MISUNDERSTAnDING. He doesn;t read, he's too busy pretending he knows it all.