Cramer's 'Mad Money' Recap: Profiting From the Reflation Trade

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"Inflation's back and better than ever," Jim Cramer told the viewers of his "Mad Money" TV show Friday.

He said when the government prints money like there's no tomorrow, some companies will actually prosper.

Cramer said that after the second worst deflationary death spiral since the Great Depression, signs of inflation are a comforting sign. He said Federal Reserve chairman Ben Bernanke's steps to re-inflate the economy by weakening the dollar is a welcome sign for companies that do the majority of their business overseas.

Cramer said the strong dollar has been hurting companies like Heinz (HNZ Quote), which went from double-digit gains to shortfalls and earnings misses, almost overnight, due largely to currency translations. But now, companies like Heinz can once again prosper as the dollar weakens.

Other companies benefiting from the weaker dollar include Coca-Cola (KO Quote) and McDonald's (MCD Quote), said Cramer.

Gold is another area that will benefit from a weaker dollar. Cramer said while Agnico-Eagle Mines (AEM Quote) is now too high, up 19% in 2 days, other gold stocks, like Eldorado Mines (EGO Quote) is still a buy.

In the oil patch Cramer likes BP (BP Quote), a stock which he owns for his charitable trust, Action Alerts PLUS.