Note:    During the two week period, 8/11-8/22, Jim Cramer's 6pm show has been replaced by Olympic games' coverage. Therefore, CNBC is airing special abbreviated half hour segments, called "Mad Money At The Half"... as well as the normal Mad Money, full-hour shows, at 11pm.

Given this later schedule of only an 11pm showing (vs. the normal 6pm showing), all full show recaps will be posted as soon as possible on the following business mornings.

Beginning of the 1:30pm show comments...

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Jim:   Horrible inflation numbers... bad unemployment... housing on the decline... market up?... What's wrong with this picture?... Nothing...

If you are someone over seas with a weakening currency and just getting started with a big housing rollover that will equal or exceed ours a year from now, then you know nothing is wrong... Nothing if your company is just getting hit the way we did one year ago... At my old hedge fund I'd used to say sometimes, don't be so granular... don't read our papers... keep your head out of the sand... we bottomed July 15th... and this rally is part and parcel to that bottoming...

What bottom then?... The dollar... financials... retail... travel... airlines... any company that uses commodities or buys them...

What topped?... Everything that was in the consumer price index that we're supposed to be so scared of that came out this morning.... The CPI was like looking on your rearview mirror at a 17 car pile up on the Jersey Turnpike... You're past it already, for heavens sake... Which means the financials can rally still and the consumer companies, the retailers, which need lower gasoline... much more than higher rebates... Not to mention, lower heating oil are getting it... Which means the homebuilders, which have really bottomed now with Toll Brothers (TOL), the biggest bear turning bullish... By the way, I'm not a chartist, but what a chart on that TOL... what a chart on the PHLX Housing Sector Index (^HGX)... which means the big commodity users, the Clorox Co. (CLX), the Kellogg Co. (K), the Kimberly-Clark Corp. (KMB)'s, which have been on a tear and are pulling back ever so slightly today... put me up, let's buy them... And, of course, the retailers in the text... Didn't Macy's (M) report a bad number?... Why did that rally?... Because it's the bottom...

This is what happens when inflation peaks here, but is still rising overseas... This is what happens when we look better than they do... They, that is all the corporations and individuals endlessly on the hunt for the cheapest market worldwide... and that's us...

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Jim's comments BEFORE the interview:
Let's get personal... What's the best tasting food in the world?... Oh, come on... Look, we're not in some culinary class right now, although we will be in a moment... Is there anything better than a Big Mac, fries and Diet Coke?... What did I have three months ago when I was in Paris on the Rue de something or other, next to the Shomp de lece.... Yeah... McDonald's (MCD*)... Real good there too... Don't wait for the Cramer autobiography... Where did my late mom, a true health nut, go for her last meal, the day before she died?... You got it... she got dressed and went to McDonald's... Big Mac, fries, Diet Coke... I can not make this stuff up...

McDonald's is universal... It works everywhere... It's one of the greatest American success stories ever... When everyone has been moaning the high price of commodities, the inability to make money, lousy environment worldwide... sad profile of Americans overseas... Who's kicking butt?... who's taking names?... who is dominating?... Who have I been behind for 45 points and not going anywhere for another 40... MCD*.... Why?... Management... Let's bring on the man behind the golden arches... Transformational CEO, Jim Skinner...

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Jim's comments AFTER the interview:
Jim Skinner, you are a great money maker for our viewers at Mad Money... I congratulate you and your great team... your great team of thousands of people... Jim Skinner of McDonald's (MCD*)... not done going up... Don't jump off it like these analysts... stick with it...

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Jim's comments BEFORE the interview:
Right now I can't think of a better, bigger comeback story than what is happening at Martha Stewart Living Omnimedia (MSO)... I got behind the stock on July 24th... it was at $7 bucks... Since then it's up over 15%... Oh, give me a break... This stock isn't done going up... not by a long shot... In fact, this is a brand that is so much bigger than the stock that I am on a mission to prove it to you... but don't let me be the only source of inspiration... How about I bring out one of the first namers... the first namers... The few people recognized in the world by their first name... Like Oprah... like Regis... Maybe bigger... How about the one and only Martha... Martha Stewart... Martha come on out... Martha and I weren't always friends, but we are lately...

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Jim's comments AFTER the interview:
Congratulations on the second act... I think it's going to be a huge success... Congratulations to you... Martha Stewart, founder of Martha Stewart Living Omnimedia (MSO)... $8 bucks... will you give me a break?... $8 bucks, going higher...

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These financials of region... I thought they were going out of business... They're doing great, it's unbelievable... Potash (POT), the fertilizers can't possibly hold even these low prices?... Some of them must think that Obama is going to lose... Lockheed Martin (LMT), Mosaic (MOS), fertilizer going again... US Airways Group, Inc. (LCC), I mean, there's something the matter with U.S. Air...

Anyway... Here is some headlines and stories that you aren't seeing... and frankly, I'm outraged in a positive way...

How about this?... Home affordability reaches highest level in years... You're not seeing that story... Whole areas of this country now have homes for sale that are cheaper than renting for the first time in eight years... Decline in housing giving people an unprecedented opportunity to buy a home...

How about this story, have you seen this one?... Home heating prices coming down to levels below last year... Your winter heating bill is about to go below where last year's bill was with bountiful supply and lagging demand...

Why don't we ever read that?... It should be a much better holiday season because of it... It's what the market is saying... I hear what the market is saying... Do you mind if I translate it for you?...

Okay... stick with some good news for a change...

Think positive!...  It's okay... 

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[ End of 1:30 "Mad Money: At The Half" Show Comments ]