John Oliver says CNBC’s Jim Cramer's takes on inflation have 'not aged very well'

$SPDR S&P 500 ETF (SPY.US)$ $AMC Entertainment (AMC.US)$ “Most economists thought inflation would go away on its own. And some of the loudest voices on Wall Street were arguing against the Fed raising interest rates because they too thought inflation would be transitory,” Oliver said. “For instance, here is Jim Cramer — the answer to the question, what if a garbage can full of cocaine and business school pamphlets wished to be a real boy? — making that very argument in November of last year.”

Oliver then played a clip of Cramer saying, “The bottom line, I don’t think [Federal Reserve Chair Jerome] Powell needs to slam the brakes on the economy, despite what you hear from the inflationistas in the media, the weight of the evidence is finally going Powell’s way. Team transitory is going to win. I say stop freaking about inflation.”

“OK, setting aside the fact that he’s speaking with an intensity level there, best described as Patti Lupone admonishing a rude audience member,” Oliver said in response, “it’s pretty clear that this clip, much like Jim Cramer himself, has not aged very well.”

“Here he was just six months later,” Oliver said, “doing a full 180 with a very different tone.” “I think that Powell may not understand, we gotta break this. We gotta break it now,” Cramer said. “Because this was the week where you realized that it is just inflamed, and it is not going away. I was shocked. I didn’t know that it’s as bad as it is.”

And though Oliver took some shots at Cramer, he wasn’t nearly as hard on Cramer as his former Daily Show colleague, Jon Stewart, who eviscerated Cramer in an interview over his shoddy financial advice leading up to the 2008 recession.