Cramer's Market Meltdown

Armageddon. That's what CNBC's Mad Money host Jim Cramer is calling the turmoil in the fixed income markets today Friday. He's demanding the Fed drops rates to relieve the pressure.

Says Cramer, "Call someone... This is not the time to be complacent."

So is Cramer, who's well known for his wild antics on screen, just over-reacting? Or are his fears well founded?

You can watch the full clip below.

Update: Cramer responds to allegations that he over-reacted, on TheStreet.com TV

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