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Cramer: Joy Is In America, But It's a China Stock

Debra Borchardt: That's what I was going to ask you. Is that why Joy went up because they got such a gloomy outlook and the numbers were not something that would make you want to buy this stock, but the stock went up.

Jim: I think that China, they're talking about a inflection for China. It is regardless of a China play, I talked about Yum! Brands (YUM - Get Report)last night on Mad Money, China play, and you've got to start distinguishing between companies that are fiscal cliff plays and China plays, and the fiscal cliff being a powerful way to be able to cut the budget deficit.

But through austerity -- or Irish style is what I've been calling it -- because you go to Ireland you see that they voted in an austerity plan like we should be defaulting into, but Joy is a stock that's not going to be an American stock. It's going to be based here, but it's not going to be American.

--Written by Debra Borchardt in New York.



>To contact the writer of this article, click here: Debra Borchardt.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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