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NEW YORK ( TheStreet) -- Ready the parachutes, we're likely going over the fiscal cliff, Jim Cramer told Lindsey Bell at TheStreet.com Monday. He said our politicians don't look like they're going to reach a deal so investors should prepare for a 2% to 3% decline in the markets as a result.
Cramer said there's still a lot to like in the stock market. He said interest rates remain low and valuations are inexpensive. Many sectors, such as the drug makers, tech stocks, industrials and even the financials, all remain cheap despite their businesses picking up steam.
With all of that positive momentum, Cramer said the fiscal cliff will not mean the end of the world, but it will be a hiccup for which investors need to prepare.To sign up for Jim Cramer's free Booyah! newsletter, with all of his latest articles and videos, please click here. -- Written by Scott Rutt in Washington. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC