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NEW YORK ( TheStreet) -- While Europe never fails to hurt our markets in the short term, U.S. companies nerve fail to impress over the long term.
That's how Jim Cramer saw Monday's trading action. He told "Mad Money" viewers it should come as no surprise that just about everyone hates the Cyprus bailout plan.
Europe once again proves it has no plans for growth, a stance that has yet again managed to ding the overall global economy, he said. This is certainly true with companies that sell into Europe including Caterpillar (CAT) and John Deere (DE).
But then there are the rest of U.S. companies such as Kraft (KFT) and General Mills (GIS), both of which are offering a flight to safety out of the European malaise. Cramer said investors and corporations would be foolish to keep their money in European banks, which is why U.S. banks continue to trend higher.Cramer said it's hard to ignore the strength in U.S. housing stocks given the affordability and easy availability of credit. It's also hard to ignore many of the master limited partnerships, which continue to increase the size of their dividends. So while Europe may dominate for a few days, it won't be long before U.S. stocks are back in control of the market's direction.