Cramer's 'Mad Money' Recap: Happier Days - TheStreet

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"I believe the worst is behind us," Jim Cramer told viewers on a special, midday episode of his "Mad Money" TV show.

Cramer made a case for the bulls and offered several reasons why he feels the market bottomed on July 15.

He said the financials, consumer stocks and even housing stocks can begin to rally as it appears inflation has finally peaked and as oil and gas continue to decline and stabilize.

He made a case for consumer stocks like

Clorox

(CLX) - Get Report

,

Kellogg

(K) - Get Report

and

Kimberly Clark

(KMB) - Get Report

, all of which Cramer said should do well in this environment.

Cramer again made a case for Internet giant

Google

(GOOG) - Get Report

, after his interview Wednesday with CEO Eric Schmidt, saying he sees three to five years of strong growth for the company.

Taking a step back from the US economy, Cramer also said that the while the US market has bottomed, much of the rest of the world hasn't. He sees the US rally being fueled in part by foreign investors buying into US companies because "we're where the bargains are."

Cramer: Not the Same Old Wal-Mart

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Back to the Fries

When it comes to great American brands, there's one company that's universal, and that company is

McDonald's

(MCD) - Get Report

, Cramer says.

He welcomed James Skinner, McDonald's CEO, to the show to learn more about the company's continued successes.

Skinner said that while the Olympic games in Beijing are a big draw for the company, McDonald's continues to flourish in China, with more than 100 stores in Beijing alone.

Asked about its declining sales several years ago, Skinner said McDonald's simply "took its eyes off the fries" and was too concerned with getting bigger rather than better. However, he noted the company has been focused in recent years on its core brands and products.

Skinner said that McDonald's has been using many different tools to mitigate the effects of rising food costs, including employing hedging and supply-chain efficiencies. As a result, the company has been able to avoid passing many of those increases onto its customers.

Regarding future growth, Skinner said the company is focused on continued expansion internationally, especially in countries such as China, Russia and Spain.

Martha's Second Act

Sometimes in business, the brand is bigger than the stock, Cramer told viewers.

To exemplify this point, he welcomed Martha Stewart, founder of

Martha Steward Omnimedia

(MSO)

, to the show to talk about her company's remarkable turnaround since she was found guilty of conspiracy and obstruction of justice charges in October, 2004.

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Stewart said her company and its brands remained very strong throughout the difficult times. "There are so many products people don't even know we make," she said.

She pointed to the company's successful magazines and the more than 3,000 products the company has on sale at retailers such as

Wal-Mart

(WMT) - Get Report

and

Macy's

(M) - Get Report

.

She also said its TV programs are now seen in over 70 countries across the globe. With its acquisition of popular TV chef Emeril Lagasse's company in February, 2008, the company will be even better, she added.

Outrage of the Day

In this segment, Cramer chatised the media for the lack of headlines of good news. He asked why there have no headlines on housing affordability and lower heat oil costs.

Cramer told investors to start looking at the positives in the market instead of dwelling on the barrage of negative news.

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here

.

Read more of Cramer's Mad Money Lightning Round insights

.

For "Mad Money" performance statistics and other links, check out Mad Money stats

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 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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