Weak Dollar Will Put Industrials Into Gear

The weak dollar is a godsend.

There. I said it. I have been listening all day to commentators who are worried about the weak dollar.

They are out of their minds.

Think of it. Think of who has been killed here. Our steelmakers, as we have a commodity that is being priced badly for us. Our giant machinery companies like Caterpillar (CAT - commentary - Cramer's Take), Eaton (ETN - commentary - Cramer's Take) and Deere (DE - commentary - Cramer's Take). We need these to get hot, and a weak dollar will do it.

The inflation hawks have to re-think their game plan. All have I heard here for months is that the Fed must stay vigilant against inflation. The whole way down! Now the people who wrongly have been saying that the issue was inflation are now saying that we are on the verge of igniting inflation!

What nonsense. We need the dollar down to boost Main Street. Repeat after me: Main Street is the issue. Jobs. And jobs.

Oh, and jobs.

That means we need competitive advantage. It means we need to sell more goods overseas. We need those goods to be priced cheaply. The dollar is a key to that.

We want this.

I am amazed at the hubris of these inflation mongers. They are exact replays of the Hoover administration. They literally are totally and completely wrong! Had they not been so insistent, I wonder if Bernanke would have been more aggressive, because it is pretty clear from yesterday that he knows how to be aggressive.

Stop worrying about the weak dollar and start loving it. We might be able to avoid a 10% unemployment yet!

Random musings: A steady dividend play Verizon (VZ - commentary - Cramer's Take) is looking and acting like a growth stock, while Cisco (CSCO - commentary - Cramer's Take), a growth stock, acts like Verizon. Unnerving to us Cisco holders. ... Can you believe the ramp in Freeport-McMoRan (FCX - commentary - Cramer's Take) since that dividend cut? So clearly a hedge-funds-gone-wild knockdown. ... Terra Nitrogen (TNH - commentary - Cramer's Take) remains my fave fertilizer play. ... Hovnanian (HOV - commentary - Cramer's Take) is on the critical list after that miserable quarter. Would it be so bad if one of these homebuilders disappeared? We have no consolidation yet in that business! It is the only homebuilder getting hit right now. ... Research In Motion (RIMM - commentary - Cramer's Take), I said I liked it on a video yesterday. Reports tomorrow. I do not think this is Garmin (GRMN - commentary - Cramer's Take). I think it will be OK, and that may be enough to move the needle.

At the time of publication, Cramer was long Cisco, Deere, Eaton and Freeport-McMoRan.

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