Jim Cramer's 'Stop Trading!': Buy AT&T

Buy AT&T (T Quote), Jim Cramer said on CNBC's "Stop Trading!" segment Thursday.

Cramer had a prediction for what consumers would do with money from the economic stimulus package. "I've been saying that the $600 is going to go right to buying an iPod. Well, how about the iPhone? ... Apple's (AAPL Quote) going higher. When Sprint (S Quote) implodes, it's iPhone and Ivan," Cramer said, referring to Verizon (VZ Quote) CEO Ivan Seidenberg.

On the broader economy, Cramer said inflation worries weren't as significant as the possibility of recession. He mentioned commentary on CNBC earlier that day by Thornburg (TMA Quote) CEO Larry Goldstone, who said the market is deflating.

Cramer contrasted Goldstone's commentary with Federal Reserve Chairman Ben Bernanke's testimony before the Senate Banking Committee today. "Larry just said it's the worst of all possible worlds. ... Larry is the market. ... He's a perfect lender who doesn't lend to no-doc people. He does a lot of work," Cramer said.

"Larry's in the mix. He's the most honest guy in the business. He's been dead right every time he's come on," Cramer added, referring to Goldstone's appearances on "Street Signs." He said people like Goldstone should go to Washington to alert politicians to the reality of the market.