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Jim Cramer's 'Mad Money' Recap: 10 Reasons We'll Have a Santa Claus Rally

Stocks in this article: BA MMM CELG REGN Q GILD ISIS

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NEW YORK ( TheStreet) -- Is Santa Claus coming to the stock market? Jim Cramer thinks so and gave his Mad Money 10 reasons why Thursday. Cramer said we're in a seasonally strong market and all the right ingredients are in place. What are those ingredients? 

First, Cramer said the markets have growth without inflation, always good news for stocks. Second, we have the Federal Reserve on our side. As the old adage goes, never fight the Fed. Third, Washington is largely off the front page now that a budget has been passed.

Critics of the Federal Reserve are calling for Fed to raise interest rates sooner as opposed to later, but is that really what the global economy needs? Cramer said he think not, and called on the critics to cool their rhetoric.

Cramer said their would be serious repercussions if the Fed were to raise rates too soon, especially for emerging markets and for Europe, which continues to struggle to gain its footing. Higher rates, he said, could put a real damper on global growth.

More importantly, Cramer said the the Fed is supposed to raise rates when they see inflation, and in today's economy, there's far more deflation than inflation. Don't forget that the Affordable Care Act kicks into full effect in 2015, meaning that small and mid-size businesses could begin to slow their growth.

Cramer said many of the complaints about the Fed come from those short the market or those that are "talking their book" and looking to profit from higher rates. The Fed will raise rates when the data supports it, Cramer concluded, and the critics just need to wait.

Must Read: Jim Cramer’s Five Best Stock Picks for the Biotech Sector

While the market might not yet have no geopolitical risks, number four, there is at least talk of peace in Ukraine, Cramer noted. Fifth is an easing of commodity pressures. As Cramer noted yesterday, the markets can handle declines as long as they're gradual.

Six and seven are takeovers and strong corporate profits, two things the markets are seeing on a daily basis. Eight is buybacks and dividends, with Boeing (BA) and 3M (MMM) as prime examples.

Ninth on Cramer's ingredient list is leadership in the biotech stocks, notably Celgene (CELG) , Regeneron (REGN) and Gilead Sciences (GILD) .

The final ingredient is the cooperation of global markets, something that could happen if Europe is able to rebound on good news from Ukraine.

Cool the Rate Rhetoric

Critics of the Federal Reserve are calling for Fed to raise interest rates sooner as opposed to later, but is that really what the global economy needs? Cramer thinks not, and called on the critics to cool their rhetoric.

Cramer said there would be serious repercussions if the Fed were to raise rates too soon, especially for emerging markets and for Europe, which continues to struggle to gain its footing. Higher rates, he said, could put a real damper on global growth.

More importantly, Cramer said the Fed is supposed to raise rates when it sees inflation, and in today's economy there's far more deflation than inflation. Don't forget the Affordable Care Act kicks into full effect in 2015, meaning small and mid-size businesses could begin to slow their growth.

Cramer said many of the complaints about the Fed come from those short the market or those "talking their book" and looking to profit from higher rates. The Fed will raise rates when the data support it, Cramer concluded, and the critics just need to wait.

Must Read: How Buffett, Soros and Other Billionaires Play Oil, Russia

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