Cramer's 'Mad Money' Recap: Way Too Much Negativity (Final)

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NEW YORK (TheStreet) -- With the headlines on the European credit woes all over the map, Jim Cramer summed up the situation for the viewers of his "Mad Money" TV show Monday by simply saying, "we're good, they're bad."

Cramer explained that for certain, the U.S. economy is stronger than that of Europe, but that doesn't mean the U.S. can't take a hit if Greece defaults on its debt. He said the Grecian debt is huge, $350 billion, which is larger than the recent crises in Russia and Argentina... combined.

Aren't the Europeans united in preventing a Grecian default? Cramer said in a word, no. He said in order to prevent disaster, Greece needs to drop its interest rates to zero to promote growth. In addition, Cramer said the European Union needs to unite behind one strategy.

Cramer said the good news on the economic landscape is that China appears to be on our side, opting for a soft landing instead of a sharp slowdown in their economy. But even there, said Cramer, the signals are murky.

Cramer said with so much uncertainty, investors can't yet be bullish on the stock market. But on the flip side, he said our markets don't deserve to be down as much as they are either. Even the German stock market, which has more to lose if Greece defaults than we do, is down less than the S&P 500.

Eureka Moment

In his "Eureka Moment" segment, Cramer reminded viewers that no stock trades in the single digits because things are going well. But in the case of Citigroup (C) and Sprint (S), both of which received upgrades from Goldman Sachs, these single-digit stocks may be hinting that things are going well.

Cramer said upgrades on single-digit stocks are risky for analysts, which is why he believes that things are not only going well for the pair, but really well.

In the case of Sprint, Cramer said the upgrade was mainly triggered by a slowing "churn" rate, which is a measure of how fast the company is losing customers. With a recovering churn rate, Cramer said Sprint once again becomes an attractive takeover target.

Citigroup Cramer Still A Believer