We Need China Back in Action

China's been a huge source of the problems in our market, or more likely, the declines in our markets related to commodities.

You can see from the Baltic rates and from the end of the para-olympics that China might be swinging back to action, something that is so necessary if we are to avoid a severe worldwide recession. Four days straight up for the Baltic!

Right now, the focus is on the systemic risk, but we should not forget that earnings drive the market, and unless China turns the juice back on -- meaning that it lets the area around Beijing pollute again, given that it is about 20% of the country;s industrial output -- we might have a reason to believe that the BA/HON/GE complex as well as the FCX/X/BHP complex might have life, which I can handle even if it means that the oil complex ramps a bit.

We need to see a balanced, good global economy with less systemic risk, but I will take an imbalanced, sometimes-hot global economy with no systemic risk anyday.

Watch this Baltic index. If you think I am right, take down some CHN, the Chinese ETF, or buy some FRO or NAT, which are the quickest to move on a re-acceleration in China.

At the time of publication, Cramer was long General Electric.

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