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NEW YORK (

TheStreet

) -- Next week's game plan will rely heavily on what happens in Europe on Monday, Jim Cramer told his

"Mad Money"

TV show viewers Friday.

Cramer said that by Monday morning, the markets need to hear about a French recapitalization plan for their banks, or a plan to save Greece or that the European central bank is lowering interest rates. Without at least one of those three, said Cramer, all bets are off.

That said, Cramer will be watching

Walgreens

(WAG)

on Tuesday, and expects this drug store giant to deliver great news. Cramer said to listen to, but don't buy,

Jabil Circuit

(JBL) - Get Report

and

Paychex

(PAYX) - Get Report

on Tuesday, as they will update us on the health of the tech sector and of unemployment.

For Wednesday, Cramer said he's hoping for a turnaround in

Darden Restaurants

(DRI) - Get Report

, now that commodity and gasoline costs are on the decline. He said this 3.7% yielder remains a favorite.

Also on Wednesday,

Family Dollar

(FDO)

reports. Cramer said he still likes

Dollar Tree

(DLTR) - Get Report

better, but Family Dollar could be a takeover target.

Finally on Thursday, Cramer said that

Micron

(MU) - Get Report

will report. Cramer said simply, "no, sorry, I have standards." He said this single-digit semiconductor company just can't seem to get its act together and should be avoided at all costs.

Diversification Strategy

Rounding out his "Paid To Wait" series of high-yielding dividend stocks, Cramer focused on

Waste Management

(WM) - Get Report

, with its juicy 4.4% dividend yield.

Cramer said that while Waste Management is often seen as a cyclical play, one that declines with the economy, the company is diversifying so that it can weather any storm. "People have gotten too negative on Waste Management," said Cramer.

Cramer noted that the company's dividend yield offers the stock protection as the price falls, since the yield increases. Dividends also deter short sellers, as they are required to pay the dividends on any shares they borrow. Over the past decade, Waste Management has returned 20.5% to shareholders, but adding in reinvested dividends, that yield doubles to just over 51%.

Waste Management did surprise last quarter with disappointing results. Pickup volumes were down 1.7% as the company faced higher-than-expected pricing pressures. However Cramer noted that the company's landfill business as well as its waste to energy businesses are both growing to offset those pressures. Waste Management is also set to have 80% of its fleet converted to natural gas by next year, another windfall for the company.

Cramer said he'd start building a position at today's levels, then buy more if the falls.

Consistent Yielder

Cramer's last "Paid To Wait" pick was

General Mills

(GIS) - Get Report

, a consistent 3.1% yielder that has a 112-year track record of paying and raising its dividend.

Cramer said that General Mills was ravaged by cost inflation last quarter, having to raise prices to consumers which caused a 3% down tick in sales. However now that everything from gasoline to corn, wheat, soy and oats are all heading lower, the General is set to profit handsomely.

Plus, Cramer noted that even if the economy falls into recession, that's still good news for General Mills, as people don't stop buying cereal and a slowing economy would send commodity prices even lower. When it comes to General Mills dividend, it's hard to match the company's performance. General Mills has raised its dividend by 69% just in the last six years alone.

Cramer said there are still some negatives surrounding General Mills, mainly competition from the likes of

Kellogg

(K) - Get Report

as well as private label brands. However, General Mills is also aggressively expanding in China, as well as in emerging markets, growth that will most than offset any pricing pressures here in the U.S., he said.

Mad Mail

Cramer said that he missed the move in

Universal Display

(PANL) - Get Report

, which stumped him during an earlier show. Cramer said the stock, which is up big, has too much risk now and no one knows the market potential for the company.

When asked to choose between

John Deere

(DE) - Get Report

and

Caterpillar

(CAT) - Get Report

, two stocks which Cramer owns for his charitable trust,

Action Alerts PLUS, Cramer said that he'd give the edge to Deere, but now is not the time for either company.

When another viewer asked about buying

Enterprise Products Partners

(EPD) - Get Report

using call options, Cramer said that you want to own a master limited partnership for its yield, and call options won't give you that yield.

Finally, when asked about

American Tower

(AMT) - Get Report

, Cramer said that this company was a great call on the continued emergence of mobile technologies.

Lightning Round

Cramer was bullish on

Under Armour

(UA) - Get Report

,

Southern Copper

(SCCO) - Get Report

and

Linn Energy

(LINE)

.

He was bearish on

Cliffs Natural Resources

(CLF) - Get Report

and

Nordic American Tanker

(NAT) - Get Report

.

Closing Comments

In his "No Huddle Offense" segment, Cramer asked: Which is most significant, a U.S. recession, a slowing China or a European disaster? In short, it's all about Europe.

Cramer said that there is no significant risk in the U.S. economy: Just listen to the CEOs. And while China may be worried about inflation, falling copper and other commodity prices say things are getting better, not worse, he added.

But in the case of Europe, it's either catastrophe or no catastrophe, said Cramer, and that's where the real risks lie. The next 1,000 points in the markets all rest in Europe's hands.

--Written by Scott Rutt in Washington, D.C.

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Scott Rutt

.

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.

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clicking here

.

For more of Cramer's insights during the Lightning Round, clickhere

.

At the time of publication, Cramer was long John Deere, Caterpillar.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.