Click here for an archive of Cramer's "Mad Money" recaps. Jim Cramer told "Mad Money" viewers on Thursday that he was going to commit stock market heresy -- and recommend buying bank stocks at this part of the business cycle. The business cycle dictates which stocks will work. Where you are in that cycle should determine what sectors you buy into, Cramer said, adding that when people go against the cycle, they lose big. At this point in the cycle, after 17 straight rate hikes, banks should be train wrecks and ugly untouchable businesses, he said. However, this is not the case. In fact, Cramer believes banks are going to go up, therefore, he broke the rules and told viewers they should want to buy a bank. "But what if banks are on the verge of blowing up, and Cramer's being premature?" he said. That's how you should be thinking when someone challenges an orthodox rule. After all, it's orthodox because it works, he said. However, he really believes bank are on their way up. "Why are banks in a good place, when history and discipline says that they should be in a bad place right now?" he asked. "What makes me so confident?" Reason No. 1 is that banks have stopped issuing stock and are beginning to buy back stock. Secondly, whereas banks used to have pretty bad credit card losses when people declared bankruptcy, now with the new bankruptcy law, it is tough to declare it, Cramer said. In addition, you are still liable for your debt, even if you do declare bankruptcy. The third reason he gave was that banks are cheap. Cramer's final reason was that after 17 rate increases, when banks should be experiencing loan losses and mortgage problems, they actually have the fewest loan losses and mortgage problems they've had in years. Banks have created a slew of businesses that are fee-based by relying less on interest rates and more on fee-based business, he said.