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NEW YORK (
) -- Another market boom is on the way, Jim Cramer told the viewers of his "Mad Money" TV show on Wednesday.
Cramer said whether you're a bottoms-up or a top-down investor, all signs are increasingly pointing to another bull market in the wings. He said on the macro economic side, there was encouraging news on the U.S. industrial production number and the housing starts number today.
The view on the micro side was just as good, with everything from tech, steel, autos, housing, retail, industrial, aerospace, oil, gas, copper, iron and wood bottoming and ready to boom.
Cramer said there could be many reasons for the strength. It could stem from the aggressive cost cutting and layoffs companies took to fend off the recession. Or it could be coming from the huge federal stimulus, which celebrated its one year anniversary today.
No matter what the reason, Cramer said the bears are simply way too skeptical of this market, and the chance of a double-dip recession is clearly off the table.
A Strategic Fit
In the "Executive Decision" segment, Cramer welcomed back Greg Wasson, president and CEO of
, who appeared on "Mad Monday" Tuesday, along with John Lederer, chairman and CEO of the privately held
, which announced today that it was being acquired by Walgreen.
Wasson explained that Duane Reade has a leading presence in the No. 1 drug store market in the country, New York City, and Walgreen liked not only Duane Reade's financials, but also what it was doing strategically with its stores, such as adding fresh foods and a cosmetic counter.
Lederer called the merger "the best of both worlds," given that both companies have great brand names and private label franchises. He said the combined company will continue to build out their presence in the New York metro area.
Cramer continued his support for Walgreen, saying that the combined company "will make you a lot of money."
Cramer also spoke with Austan Goolsbee, head of the president's Council of Economic Advisers, to get the latest read on how the stimulus package is helping the U.S. economy recover.
Goolsbee said that current consensus data estimate that last year's stimulus package has helped create, or save, two million jobs in the U.S. He said while that number doesn't begin to fill the hole of jobs lost in this country, it is an encouraging start.
Goolsbee also agreed with Cramer that economic growth is the critical component needed for improving the country's economic health. He said that growth will not only help the job situation, but also the ballooning federal deficit.
Natural Gas Play
In a third interview, Cramer spoke with Larry Nichols, chairman and CEO of
, Cramer's favorite wildcat driller of natural gas.
Nichols said that the oil shale fields in America have been huge for his industry, and has allowed Devon to triple its production and increase its reserves. He said in the Barnett shale region in Texas, Devon has drilled 2,000 horizontal wells and every one has been successful.
Nichols commented on President Obama's announcement today regarding new nuclear power facilities. He said that while nuclear power takes 10 to 15 years, and federal subsidies, to bring on line, our nation's clean burning natural gas plants run at only 25% of their capacity. Nichols said if the country wants cleaner energy, it just needs to turn on the facilities it already has.
Regarding Washington's attitude towards natural gas, Nichols said that there are many entrenched interests that don't want to give up what they have. But, he said, no political rhetoric can stop the fact that America has over 100 years of natural gas, and the fuel is here and it's in our best interest to use it.
While watching the ticker in real time, Cramer noted that
, a stock, which he owns for his charitable trust,
Action Alerts PLUS, has gotten two pieces of good data regarding its AIDS drug recently. He said that
is quietly headed to $5 a share by 2012, while
, another stock in Cramer's charitable trust, might be catching a bottom.
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Gilead Sciences, Qualcomm.
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."
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