Cramer's 'Mad Money' Recap: Doomsday Scenario

If You Don't Bank on Ben

In the case that Fed Chairman Ben Bernanke doesn't save the day with some rate cut, Cramer gave viewers a list of stocks that should work even during Doomsday. People who think there is nothing that can go up in this environment are being "stupid and antihistorical," he said.

Right now reminds him of 1990, when the banks had a real collapse. From June 30, 1990, to Oct. 30, 1990, a basket of bank stocks went down about 50%, Cramer said. "But the disaster was contained."

During this time, Cramer said he went looking for stocks that could do well even when anything financial could not. In this period, high-growth stocks "roared," the oils were up huge, and the food and beverage stocks were up nicely or flat.

Although 1990 was the worst time for banks that Cramer can remember, people still made money, he said.

"The crisis of 1990 was probably 10 times worse than this one," Cramer said. Almost every bank in New York was bankrupt. Therefore, the bears who believe that nothing can be bought here are wrong, he said.

"Celgene (CELG Quote - Cramer on CELG - Stock Picks), Kellogg (K Quote - Cramer on K - Stock Picks), Schlumberger (SLB Quote - Cramer on SLB - Stock Picks), Medco Health Solutions (MHS Quote - Cramer on MHS - Stock Picks) and Kimberly-Clark (KMB Quote - Cramer on KMB - Stock Picks) -- that's your diversified portfolio for Doomsday," Cramer said. "These will only fail if Bernanke does his job and cuts rates."

In the meantime, Cramer reiterated that he does not believe the worst-case scenario will happen, and he is sticking by his six wild bull markets: oil and oil services, agriculture, machinery, aerospace, infrastructure and minerals.

Moreover, he's still bullish on his four "horsemen of tech:" Amazon.com (AMZN Quote - Cramer on AMZN - Stock Picks), Google (GOOG Quote - Cramer on GOOG - Stock Picks), Apple (AAPL Quote - Cramer on AAPL - Stock Picks) and Research In Motion (RIMM Quote - Cramer on RIMM - Stock Picks). "Tech, in general, is very right here," Cramer said.

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