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American Ecology ( ECOL) is a waste-disposal company that could make you money, Jim Cramer told viewers of his "Mad Money" TV show Tuesday.

When Cramer looks at toxic waste, he doesn't see a problem; he sees an opportunity. "Hazardous waste equals mad money," he said.

Cramer called toxic waste a secular growth story, which doesn't need the economy to be strong to perform well. In fact, the best thing about this stock is that it does well because of a "government-sanctioned oligopoly," he said.

American Ecology didn't start getting interesting until it got into the toxic-waste-management business, which is when it started to grow, Cramer said.

Only a small number of companies are allowed to operate toxic-waste management, which effectively keeps the competitors out, he continued. And the government says people have to pay a company like American Ecology to get rid of their hazardous waste.

This is the kind of government-backing that Cramer likes to see, he said. He believes that American Ecology is a defensive growth stock, which has a cushion with its "nice" 3.4% yield.

Plus, because there are only five analysts covering it, the company is relatively low on the radar, Cramer said.

Trash Talk

Another great hazardous-waste stock that Cramer believes is a "strong secular grower" is medical-waste company Stericycle ( SRCL).

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