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Whether there's a bailout plan or not, there's a crash looming on the horizon Jim Cramer told viewers of his "Mad Money" TV Show Thursday.

He said that every company that exports commodities or helps ship commodities is in big trouble.

Cramer said its as if the countries of Brazil, Russia, India and China, or BRIC as he calls them, have completely dropped off the map. These countries, once ravenous importers of commodities like oil, coal, steel, fertilizer, iron ore and aluminum have seen a sudden downward turn in demand, leaving U.S. exporters holding the bag.

"It's impossible to know how low these commodities will go," said Cramer, but for companies like fertilizer maker



, its a stunning turn of events.

Cramer said these stocks, along with railroad companies such as




Union Pacific


, are now the targets of relentless hedge fund selling as the commodities keep falling and fund redemptions keep growing.

Cramer said even with a federal bailout package to save the U.S. economy, these export and transport stocks won't be saved since they're levered to the economies of the BRIC countries.

Indeed, he said the only international stocks he would recommend are defensive and soft goods names like




General Mills






Cramer: My Talk With McCain

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Money Machine Stocks

What do you do in a bad market where every stock is headed lower? Cramer says you invest in stocks that don't need to go up in order to make you money.

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According to Cramer, one of the bet ways to make money in a down market is to invest in what he calls "money machine stocks," with big, serious dividends that pay you to wait for the market to turn bullish. He mentioned companies he feels are the best ones to own with big, but safe, dividends.

Cramer's favorite four dividend stocks include

Poermian Basin


, with an 11.7% yield,

Linn Energy


, with a 16.3% yield,

Enterprise Product


, yielding 8.2% and

Kinder Morgan Partners


, yielding 7.7%.

Cramer warned that these four stocks are trusts in the energy sector. While they provide enormous yields, the stocks have taken a beating in recent weeks. "There is downside risk," he told viewers, saying that the stock prices will go even lower if the price of oil continues to decline. He said the dividends, though, are safe.

Poermian Basin and Linn Energy are producers of oil, making them more susceptible to the price of oil. Cramer said Poermian Basin provides a higher level of certainly among the two, but offers no growth. Linn, he said, is still acquiring new properties and offers more growth, but also more risk.

Cramer said both Enterprise Partners and Kinder Morgan are not producers, but rather transporters, of oil and these entities are less susceptible to market volatility and offer lower, but more stable dividend yields.

Sell Block

In this weekly segment, Cramer said it's time to ditch the once-loved stock of

American Express



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Cramer explained that in addition to being a bad time for credit card companies, with the U.S. jobless rate rising, bankruptcies up 32% year over year, home prices still falling and credit card defaults rising, it's an even worse time for American Express, which has become the most dangerous stock in the Dow.

While American Express is the fourth largest credit card issuer in the country, it's the only one, he noted, that's not a bank and does not have a deposit base to fund its operations.

This makes Amex both economically and financially sensitive to market gyrations. That means the once mighty Amex, which once required all balances to be paid off each month, now relies on the market and asset-backed securities to fund itself.

Poor lending is a concern, said Cramer, with 32 percent of American Express cardholders now considered high-risk. He said the company also has increased exposure to mortgage defaults, with 17% of its cards based in California and another 8% based in Florida.

Also alarming, he said, are the company's dwindling loss reserves.

Cramer called American Express a great company that's lost its way. The company expects to earn $2.92 a share next year, but Cramer said he's seen estimates as low as just $2.25 for the company.

Amex missed estimates by 27 cents a share last quarter, and he expects that to only be the beginning.

Lightning Round

Cramer was bullish on







He was bearish on







Petrohawk Energy






Eastman Kodak



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Where will the Dow Jones Industrial Average stand at the end of 2008?Above 10,0009000-10,0008000-90007000-8000Below 7000

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At the time of publication, Cramer was not long on any stock.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

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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 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, 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.