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Drowning in Bad News

By Jim Cramer

 About this article:
 There's good and bad news about the month of June in this country. First, it was awful. Other than a couple of restaurant chains like IHOP and Ruby Tuesday -- and again at Aeropostale and Buckle -- I can't find a lot of truly "better-than-expected" news. Instead we get downbeat interviews about the consumer with Warren Buffett (just dreadful consumer business in the last few weeks, according to the Oracle) and American Express on CNBC -- both particularly grim -- and we get retail sales that make me feel as if the consumer just shut down again. OK, that's the bad news. The good news? Everyone knows about the bad news already, and as we go into earnings season the prices of the stocks reflect a lot of bad news. Despite the endless depictions of me as a huge bull (where does this stuff...

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