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Britain's decision to leave the European Union was the "dumbest financial mistake I can ever recall," Jim Cramer told his Mad Money viewers Monday. Even though it has only been a few days since the ballots were cast, the true cost of British independence from the EU is now becoming apparent.

Cramer explained that the decision to leave boiled down to two issues, the eight billion pounds a year that the British were paying to stay in the EU and the flood of immigrants they were forced to accept. But while the eight billion seemed like a hefty sum last week, the stocks of Royal Bank of Scotland (RBS) - Get Report and Lloyds (LYG) - Get Report have lost over 12 billion pounds in just two days.

But that's only the beginning, Cramer noted. Without the 200,000 immigrants a year entering Britain, property prices will certainly fall, and the British pound will only continue to devalue, something that will be felt by all.

These are just a few of the costs we know about, Cramer said, and they already far outweigh the much-hyped savings. That's why Cramer said he's not worried about other countries following Britain to the exits. "I doubt any other country is dumb enough to follow," he said.

Meanwhile, here in the U.S. stock market, Cramer said prices will continue to fall and are almost at levels where he'd advise investors start buying the dip.

Nothing Worth Buying

There just aren't enough sectors worth buying, Cramer told viewers. Normally, he would be aggressively buying a big two-day sell off like we've seen, but with earnings fears everywhere, the right time to buy remains illusive.

Just over 20% of the S&P 500 is technology, Cramer explained, and that sector is the most levered to Europe. Coming in next is finance. And while the U.S. banks aren't at risk, they are linked to Europe, at least for the time being.

The third largest sector in the S&P is healthcare. Cramer said here, there is hope because the sector appears to be bottoming, except for biotech. He recommends Bristol-Myers Squibb (BMY) - Get Report and Johnson & Johnson (JNJ) - Get Report .

Beyond healthcare are the consumer staples and the energy sectors. The staples just haven't fallen far enough, Cramer noted, while oil stocks remain trapped by crude prices hovers just below $50 a barrel.

That leaves only domestic retail as an attractive bet, but only Ross Stores (ROST) - Get Report , Kroger (KR) - Get Report and Dollar General (DG) - Get Report seem to be immune to the pull of (AMZN) - Get Report .

Cramer concluded the only sectors really worth buying are the usual recession names -- mainly gold, utilities and telecoms -- and those aren't enough to get him excited about bottom fishing.

Know Your IPO

In his "Know Your IPO" segment, Cramer took a look at Twilio (TWLO) - Get Report , the cloud communications company that came public last Thursday at $15 a share only to rocket 94% to $29 by the close of its first day and another 3% today.

Cramer explained that Twilio allows companies including Uber, Nordstrom (JWN) - Get Report and Facebook's (FB) - Get Report What's App to add real-time communications services to their applications. The company offers everything from voice messaging, call recording, text messages and even embedded video services for developers of all sizes.

Twilio boasts 28,000 active customers and charges fees based on customers' usage, meaning that as Uber and Facebook expand their user bases, Twilio shares in the profits. That's how the company saw 78% revenue growth in 2014 and accelerated that to 88% in 2015.

TheStreet Recommends

Twilio is not without some risk factors, however. The company is not profitable and is playing in an unproven market. Twilio also derives 15% of its revenue from a single customer, Facebook, which could decided to built its own platforms.

Then there's Twilio's valuation. The stock now trades at 13 times sales, or factoring in its growth rate, 7.5 times 2016 sales. That's higher than the current valuation of (CRM) - Get Report .

But valuation aside, Cramer said he thinks Twilio is a winner on any weakness.

Executive Decision: Jonathan Ayers

For his "Executive Decision" segment, Cramer sat down with Jonathan Ayers, chairman and CEO of Idexx Labs (IDXX) - Get Report , an animal health products and services company.

Ayers said when it comes to our pets and their care, the sky's the limit. That's how a company like Idexx can still see 5% organic growth in times of recession, as the company did in 2009. Pets are not just an American phenomenon. Ayers noted that Idexx sees Europe still as an emerging market for the company, while other countries, like Brazil, have 75 million pets and almost no veterinary care.

Ayers went on to explain that Idexx' new urine analyzer for cats can give pets a voice and tell vets what's wrong in just three minutes, and is more accurate than traditional testing. Since testing is done on a continual basis, Idexx enjoys lots of recurring revenue.

Cramer concluded that Idexx is the type of stock you buy when Brexit takes the entire stock market lower.

Lightning Round

In the Lightning Round, Cramer was bullish on Charter Communications (CHTR) - Get Report and Keryx Biopharmaceutical (KERX) - Get Report .

Cramer was bearish on Synergy Pharmaceuticals (SGYP) - Get Report .

Executive Decision: Mark Fields

In his second "Executive Decision" segment, Cramer offered up more of last week's interview with Mark Fields, president and CEO of Ford (F) - Get Report , as he toured the company's research and innovation center in Palo Alto, Calif.

Cramer was given demonstrations of Ford's progress on autonomous driving, including new pedestrian detection systems that use fewer cameras and lowers the cost of the technology. Fields said that Ford aims to offer autonomous systems for all vehicles, not just high-end vehicles.

Fields also demonstrated integrations with Amazon's Alexa voice assistant, using only his voice to start a Ford's air conditioning and open the garage door.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had a position in FB.