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Cramer reminded viewers that stocks react to the future, not the past or even the present. That's why after so much bad news in the global economy he's confident the world's governments will have no choice but to spring into action soon to save us. He cited China, the U.S. and Europe as three examples.China used to be the world's economic engine, explained Cramer, but now that economy has run off the rails. That's not an overly bad thing, however, because much of what ails China is self-inflicted after the government hit the brakes to stem runaway inflation. Things in China have been slowing incrementally, added Cramer, and are finally low enough that the Chinese might be adding fuel to their economic fire soon enough. Here at home, Cramer said the American economy continues to slow. As much as the Federal Reserve has helped us along, it's up to Congress to provide us with a federal budget that makes sense. "The Fed can't do it all," said Cramer, but that doesn't mean the U.S. economy doesn't have a lot going for it including strength in housing, autos and even a strong back-to-school retail season. Europe remains the wild card, said Cramer. The continent has pledged that it will unite to save the Spanish banking system, but leaders there still must take bold action -- something they've been reluctant to do throughout the crisis. Cramer said investors can use Banco Santander (SAN) as a gauge for how likely a resolution in Europe really is. But with two of the three economic hot spots on the mend, Cramer said there might be a time soon when markets are feeling a whole lot better -- something that was foreshadowed in today's market rally.