Stick with agriculture and recession stocks, Jim Cramer said on CNBC's "Stop Trading!" segment Friday. " Mosaic ( MOS) is terrific. ... I think Agrium ( AGU) is a catch-up ... to Mosaic," Cramer said. "You're going to do better with that than ... betting against Procter ( PG)." More broadly, Cramer believes the market is frantic as shorts try to cover their bets on the bond insurers. "Today's a big short-squeeze day. 'Let's short squeeze Ambac ( ABK) and MBIA ( MBI).'" In the financial sector, Cramer expects more take-unders like Bank of America's ( BAC) purchase of Countrywide ( CFC). He foresees Washington Mutual ( WM) on the auction block, adding that CEO "Kerry Killinger is doing his best to do a bad job. ... Washington Mutual at $15 is like Countrywide at $8." Cramer encouraged investors to play conservatively. "I would be partial to Coke ( KO)," he said, adding that he was encouraged that commodity prices are down for the soft-drink company. Pepsi ( PEP) is another good pick, he added. "These are ... recession plays," Cramer said, and he spent some time lamenting the Federal Reserve's "smugness and incompetence." Cramer believes that "the Fed is they're the opposite of everything you want if you're long," and he doesn't foresee any action that will right the economy. "We're obviously in dire straits. ... These guys clearly would like us to live in Hoovervilles. ... I'd be fired nine ways to Sunday if I pulled this stuff off at my hedge fund."