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What's to blame for today's 200-point mid-day decline in the Dow? Cramer told the viewers of his "Mad Money" TV show Monday that this time, the analysts are at fault.

Cramer explained that as the year's end draws to a close, many analysts are forced to downgrade stocks to right their wrongs earlier in the year. In a practice he described as "analyst gone wild," Cramer said many analysts are downgrading names they've been wrong on for months.

Earlier today, analysts at

JPMorgan Chase

downgraded the stocks of Cramer favorite

Nordic American Tanker

(NAT) - Get Report

, along with

General Maritime

(GMR)

and

Eaton

(ETN) - Get Report

, which he also owns for his

Action Alerts PLUS portfolio. All of these downgrades, said Cramer, are useless, as these stocks have already taken huge tumbles.

Likewise,

UBS

analysts downgraded the gold stocks, long after the commodity and the stocks have both posted sizable losses. Similar downgrades are happened at every firm, he said, and they're for the most part, wrong.

Cramer explained that in the case of Nordic American Tanker, JP Morgan's reason for selling the stock, mainly the decline in the spot price of oil, is the exact reason to buy the stock. He said that with oil so low, oil producers are scrambling for tankers to store oil so they can fill them now, and sell at higher prices later.

The analysts, said Cramer, are using this last opportunity to downgrade everything they can before year end. This practice however, creates some great buying opportunities just in time for Christmas.

Cramer: Cramer: Why China Is Key

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Ugly Credit Markets

With mortgage rates falling and the price of gas dropping by the day, a viewer asked Cramer "why are the markets not doing better?" For the answer, Cramer explored "the dark side" of the markets to explain what's keeping the stocks down.

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Cramer explained that despite billions in aid packages, the credit markets are still far from fixed. He said that in the last quarter alone, the news on the health of the credit markets has gone from bad to grim.

In the last 90 days, the value of investment grade bonds has fallen to a rate where one in five are expected to default. In recent reports, commercial paper is valued for a 60% default rate, said Cramer.

With such bearish sentiment, Cramer said the banks are simply holding onto all of the cash they can and are lending to no one, a trend that will destroy the banking system if not reversed.

"Banks don't lend if they don't think they'll get their money back," he said. And even if mortgage rates do fall to record low levels, no one will be able to qualify for them.

Cramer said the trend will only get worse as consumer credit follows the same trend and also dries up as banks begin to worry more as people lose their jobs in increasing numbers.

Cramer warned that even the huge Obama stimulus program might not be enough if it's unable to stem unemployment and stop banks from only loaning at loan shark interest rates.

Cramer said the only answer is for the government to do more, guaranteeing more debt, bringing bond buyer and sellers together, and pumping even more liquidity into the system.

TV3

Cramer recommend

Eli Lily

(LLY) - Get Report

as a stock that'll help investors sleep at night with its 5.2% yield and its newly bottomed stock price.

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Cramer said he's shied away from Lily, as have many, due to the company's huge number of patent expirations in coming years. With over $10.5 billion a year in sales coming off patent, Cramer said there was a lot to be concerned with.

However, those facts are now priced into the stock and with the company's recent acquisition of Imclone, Lily's future is looking up, he said.

Cramer is excited about Lily's pipeline, which is supposed to have 10 new drugs in phase three testing by 2011. Between 2009 and 2012, Lily expects one major new drug offering a year. Cramer said he's especially excited about the company's once-a-week injection for diabetes, a drug he calls a "game changer."

There's also a lot to love about the company, said Cramer, from winning new approvals for its drugs to sccessful cost cutting measure.

Cramer said that Lily is also in a strong cash position, with $3.4 billion on its balance sheet and no-long term debt coming due until 2012.

Outrage of the Day

Cramer again took aim at ultra-leveraged ETFs, only this time for a completely different reason.

Cramer's been a long-time critic of leveraged ETFs, whichallow investors to short $2 to $3 worth of stock with only a $1 investment, for their ability to ravage and destroy stocks. His outrage continued when he learned that most of these funds don't even make their shareholders any money.

A recent report noted that the

UltraShort Real Estate ProShares

(SRS) - Get Report

, a fund designed to short the Dow Jones Real Estate Index, has underperformed the index it's designed to short. The reason, said Cramer, is that these funds rebalance daily and suffer in times of increased volatility.

Cramer again urged the incoming Obama administration to ban these ultra-leveraged ETFs. They destroy stocks, he said, and don't even make investors any money.

Lightning Round

Cramer was bullish on

BP

(BP) - Get Report

,

Gilead Sciences

(GILD) - Get Report

,

Campbell Soup

(CPB) - Get Report

,

Yahoo!

(YHOO)

and

ConocoPhillips

(COP) - Get Report

.

Cramer was bearish on

Genentech

( DNA),

Harley Davidson

(HOG) - Get Report

,

FMC Technologies

(FTI) - Get Report

and

Applied Materials

(AMAT) - Get Report

.

Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

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clicking here

.

Read more of Cramer's Mad Money Lightning Round insights

.

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At the time of publication, Cramer was long BP, Gilead Sciences and ConocoPhillips.

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.