Cramer's 'Mad Money' Recap: Giuliani Talks Economy

Rates are coming down fast now, and people should want to run, not walk, from cash, Cramer said. "You should sell cash."

He said he's mostly talking about money-market savings accounts and CDs. A year from now, interest rates from banks and brokers will decrease significantly, and people should get out now, Cramer said.

The Fed might have to lower by a point or a point and half, and this will "crater" their cash yields, he emphasized.

Instead, home-gamers should move into high-growth stocks, he said. For investors looking for stability, Cramer suggested getting into preferred stocks, which he described as a special kind of stock that tends to have a higher dividend.

Sudden Death

During the "Sudden Death" round, Cramer was bullish on ABB (ABB Quote) and Freeport-McMoRan (FCX Quote), the latter of which he owns for his charitable trust, Action Alerts PLUS.

Cramer was bearish on Taseko Mines (TGB Quote) and Playboy Enterprises (PLA Quote).

Mad Mail

In his "Mad Mail" segment, Cramer expressed his dislike for Starbucks (SBUX Quote). The company, he said, hasn't had dramatic success in China, another reason it hasn't been able to reignite itself.

Responding to another email, Cramer said if Alcatel-Lucent (ALU Quote) CEO Patricia Russo gets fired, he'll think about recommending the stock, but not before then.