TheStreet.com TV Recap: A Lack of Antitrust

Inventory Build

"When you go over the chemicals or the wood products companies, which are very good indicators of what's about to occur, you'll see that we have inventory-build," he said. "We have inventory build in the minerals, too."

Therefore, Cramer believes we could have slower growth in inflation year over year.

There have been periods at beginnings of years in which people made cyclical projections, numbers got really high, people bid up the stocks, and by mid-February, they realized that they had taken the estimates too high, he said. "That could be happening again."

'Benign Oligopolies'

There are a lot of industries in which there is a "benign level of investigation," which is what causes these numbers to go so high, Cramer said. He said he believes the railroads divided the country into a bunch of regions and decided not to compete with each other. Similarly, Cramer also said there are "benign oligopolies" developing in the airline industry, where companies have decided not to compete.

While there would have previously been investigations into both of these industries, now the Justice Department is looking the other way and is not focused on it, he said. "There is no antitrust division anymore in the country."

Companhia Vale do Rio (RIO Quote) has created a monopoly in nickel production, Allegheny Technologies (ATI Quote) has no competition in titanium, and Google (GOOG Quote) is developing a monopoly on Internet searches, Cramer said.

"We all have to accept the fact that there are nascent monopolies that would have previously been busted," he said. "We are in a period where all branches of government support high profits."