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This is the last really bad inflation number, or among them. We have had a total commodity collapse since this number was compiled. We all know this.

We who watch the markets have lived with this collapse for six weeks. Not only is it

not

revelatory, but it is so historical as to be humorous. And the commodities aren't done coming down. They will stay here, rangebound, until the next big batch of bad news, because we are not gaining strength worldwide -- we are

losing

strength, as the Baltic Dry Index shows every day.

It is natural to want to sell on these numbers. Easy. Simple. Natural. But remember that you might be selling the big commodity swoon plays --

Procter

(PG) - Get Procter & Gamble Company Report

,

Kimberly

(KMB) - Get Kimberly-Clark Corporation Report

,

General Mills

TheStreet Recommends

(GIS) - Get General Mills, Inc. Report

,

Pepsi

(PEP) - Get PepsiCo, Inc. Report

,

Clorox

(CLX) - Get Clorox Company Report

-- as well as the utilities that benefit --

ConEd

(ED) - Get Consolidated Edison, Inc. Report

,

Duke Energy

(DUK) - Get Duke Energy Corporation Report

-- without realizing that since commodity peaked, these are the big winners, not the losers.

Cramer: Inflation's High, Time to Buy

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This is a market now where you ALWAYS want to take the other side of the trade. ALWAYS.

Let 'em come in, then remember that the commodities crashed since this 17-year high and pick among ones that you shouldn't otherwise be able to buy.

At the time of publication, Cramer was long Pepsi and Procter & Gamble.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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