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Cramer: Earnings mean nothing; stocks headed lower

Jim Cramer has a message for CEOs and shareholders about the market on Thursday; it doesn't matter how well a company is doing, or how much it beat estimates. Good news won't stop stocks from going down.

"With a few exceptions that are worth being constructive about, we have a first class bear market going and as I tell CEOs all the time, you need to stop taking the losses personally," the "Mad Money" host said.

Cramer thinks this market stinks, and it will keep sinking until it gets so low that the weak hands who keep expecting something better surrender their selling.

Positive action within companies simply won't have a notable impact on the market, so investors should stop being frustrated. Cramer went down the list of a few examples.

First are the horrendous problems of Volkswagen, which are spilling over to hurt all automakers. But what is bad for the goose is good for the gander, meaning every other auto company in the world could benefit.

Just because Volkswagen has some serious problems on its hands does...