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Is Jim Cramer's Unbridled Optimism Evidence of Psychic Ability Or Recent Partial Lobotomy?

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The latest issue of New York Magazine is devoted to "reasons to love New York." According to the Mad Money Mensch,* one is because the good times of 2006 (the Dow clearing the 12,000 bar for the first time, the city's unemployment low, huge year end bonuses, record breaking sales of bobbleheads, etc) are a harbinger of what Cramer predicts are great things to come.

Usually good things have a habit of not lasting, but I think this latest boom will continue for a while. The atmosphere is perfect for the investing casino: low interest rates, a weak dollar to lure foreign purchases of everything that’s not nailed down, low inflation, and a mayor—and soon a governor—who understands how businesses work and who will move aggressively to lower taxes now that the good times are back.

Alternatively, Justin Fox, Fortune's editor-at-large, anticipates a more grim future. What do you think?
Because Happy Days Aren’t Just Here Again. They’re Gonna Stick Around for a While [NY Mag]
*We don't know why, we've just had soft spot for him for the past few weeks. It'll pass.