Cramer's 'Mad Money' Recap: Skip the 'Stag' Party

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Although the bears are trying to scare you out of this great game by using words like "hard landing" and "stagflation," don't let their panic drive you out of this market, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

If market players had listened to the bears, they would have missed today's rally, Cramer said.

People should be staying in the game, as the market is "fantastic" right now, Cramer said. The bears are wrongly acting like Armageddon has arrived, he said.

A lot of people are talking about a hard landing, where defensive stocks would rule, as opposed to a soft landing, where the Fed would land the plane gradually, and cyclicals can be valuable, Cramer said.

Investors are scaling back just to include defensive stocks in their portfolios, but Cramer does not believe in that approach. The hard-landing scenario is not going to conquer, he said.

And although people believe stagflation is back because the economy is slowing and prices keep going higher, said Cramer, inflation generally continues after the Fed slows down.

Stay in the market and don't let inflation and stagflation affect your game, he said.