CNBC “Mad Money” host, Jim Cramer, told his audience on Wednesday that the Euro Zone will either collapse in the next 48 hours…, or never. Appearing on a “Stop Trading” segment said that Europe’s financial crisis is affecting the price to earning ratios of U.S. stocks. He says that a major, “Lehman Brothers-type event” needs to happen. “We need to see a country or major bank collapse.” Cramer adds that U.S. investors must get used to the fact that Europe will be in an austerity mode for the foreseeable future.

Last week, Cramer called for investors to stop buying stocks until the Dow Jones Index falls to 9000. Then he says that U.S. markets will go higher due to events in Europe. Again, just last week, Cramer said that European union and public employee job cuts and reductions in pay and benefits would make Europe stronger. All of this leads us to wonder when will Jim Cramer make up his mind???

I know a lot of people like Jim Cramer. Personally, I do not. I almost had some hope for him when he began to voice regrets over supporting Barack Obama early in 2009. But after he, and Rick Santelli, were lectured to by NBC management and probably by GE CEO, Jeffrey Immelt, Cramer returned to his rosy pro-Obama views. From time to time he still slips up, but generally speaking, Cramer has been compromised by his masters.

As for Europe, we have another day of strikes and protests in Greece. Even the Irish staged protests this week against their government and banks. The situation there is ripe for disaster, but I do not think we’ll see anything dramatic in the next 48 hours. The fuse is definitely lit and the debt-bomb could explode anytime. For Jim Cramer to say that if it doesn’t happen in 48 hours it never will is just plain stupid. Maybe he can borrow Keith Olbermann’s straight-jacket and ball-gag? Perhaps the only reason people watch these idiots is because they think they’ll catch a glimpse of Matt Lauer chasing Maria Bartimoro behind the set. Maria’s dumb, but not THAT DUMB!