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Don't let the negatives blind you to everything that's going right in our economy, Jim Cramer told his Mad Money viewers Wednesday. Far too many investors are focused solely on the 10-year Treasury yield and they're missing the bigger picture.

In the past, falling Treasury yields were a precursor to recession, but Cramer said that is simply no longer the case. U.S. Treasuries offer a better return than anywhere else in the world right now, which means investors from around the globe are flocking to U.S. bonds. As bond prices rise, yields fall, which in turn is alarming U.S. investors for no good reason.

Is our economy headed for recession? Cramer checked in with Jamie Dimon of JPMorgan Chase (JPM) earlier today and learned that credit cards and consumer lending are both going strong. So while overall GDP has slowed slightly, consumer spending is strengthening. Mortgage activity is also picking up as interest rates plunge.

Cramer said the health of the economy is important, because if investors truly believe a recession is looming, then they'd miss moves like today's 7.4% jump in CVS Health (CVS) , as that company continues to grow sales. 

Cramer and the AAP team are adding Mondelez (MDLZ) to the bullpen. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.

Short-Term Pain, Long-Term Gain 

"I'm sick of hearing we can't win the trade war," Cramer proclaimed to viewers. Sure, the market would be higher, perhaps significantly higher, without tariffs, but a little short-term pain can bring the U.S. a lot of long-term gains. So far, we've felt surprisingly little impact from tariffs, and that's because the trade war hurts China more.

Our competitive retail environment is a deflationary force, Cramer explained, and that helps offset the impact of tariffs. Plus, many businesses are rapidly moving operations from China into Vietnam and other countries in the region -- putting increased pressure on China to act.

President Trump has lots of options at his disposal. He could form a coalition of countries to stand up against China, as Chinese trade policies and abuses hurt everyone. China is, after all, an export nation, which means it must eventually pay attention to its trading partners. 

On Real Money, read more from Cramer on how to use trade-war rhetoric to your investing advantage. Get more of his insights with a free trial subscription to Real Money.

Executive Decision: Bausch Health

For his "Executive Decision" segment, Cramer sat down with Joe Papa, chairman and CEO of Bausch Health (BHC) , which just posted a three-cents-a-share earnings miss but with a 1% rise in revenues.

Bausch previously forecast that 2019 will be the year that company pivots to offense, and Papa said they continue to work toward that goal. While the quarter did include a small earnings miss, it still represents the company's sixth quarter of consecutive growth.

Papa said he's very excited about Bausch's eye care segment, which Bausch & Lomb remains a strong brand with intense customer loyalty. He was not worried about up-and-coming subscription-only eye care competition.

Papa also called out Bausch's increase in research and development spending, noting that his company has released nine new products over the past 18 months, and now has no significant debt coming due until 2023. 

Executive Decision: GW Pharmaceuticals

In his second "Executive Decision" segment, Cramer spoke with Justin Gover, CEO of GW Pharmaceuticals (GWPH) , the medical cannabis provider with shares that soared 9.1% Wednesday after the company posted earnings of 21 cents a share, when analysts were expecting it to only break even.

Gover said over the past six months, more than 12,000 patients have received prescriptions for Epidiolex, GW's anti-seizure medication. Those prescriptions have generated over $100 million in revenue. Gover said there is still much education to be done with physicians, letting them know what Epidiolex is and how it works for their patients suffering with seizures.

GW is not an overnight success. The company has been 20 years in the making, Gover noted, and the company is now delivering real medications based on real science. Real science takes time to do it right and that's what GW does.

When asked about their pipeline, Gover said there are many potential uses for CBD-based products and his company is exploring opportunities for psychiatric uses and other neurological conditions. 

Executive Decision: Tandem Diabetes Care

In his final "Executive Decision" segment, Cramer also checked in with Kim Blickenstaff, executive chairman at Tandem Diabetes Care (TNDM) , which posted strong earnings last week that sent shares up over 8% before giving back much of those gains.

Blickenstaff blamed the sudden reversal in their shares on global uncertainty. He said Tandem has no business in China and is in "acceleration mode." Manufacturing is located in San Diego, Calif., Blickenstaff said.

Currently, only 30% of Type 1 diabetes patients are using a pump, Blickenstaff said, leaving a lot of room for growth for Tandem. The market potential is even greater worldwide, especially in Europe.

Lightning Round

In the Lightning Round, Cramer was bullish on Take-Two Interactive (TTWO) , (CRM) and Hasbro (HAS) .

Cramer was bearish on Activision Blizzard (ATVI) , Pivotal Software (PVTL) , Emerson Electric (EMR) , Barnes Group (B) and Mattel (MAT)

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At the time of publication, Cramer's Action Alerts PLUS had a position in JPM, CVS, CRM.