"The U.S. has now done everything it can to save itself," Jim Cramer told viewers of his "Mad Money" TV Show Friday. The fate of the U.S. economy and the stock market rests firmly in the hands of the European and Chinese central banks. Cramer said the federal government has run out of tools after the countless rate cuts, bailouts, takeovers and seizures. "We can't do much more than we already have," he said. He said whether the U.S. endures a recession or jump starts growth depends on the actions of the central banks of the world. He noted their moves will be more important than the outcome of the presidential election. "The Europeans are playing with fire," he said, "and they must act now." He begged the European central banks to act swiftly to avoid a global crisis. While the fate of the global economy remains in flux, Cramer told investors to stick with the strategy he's endorsed all week. He told investors to put their money in high-yielding dividend stocks. Second, they should invest in domestic, recession-proof names such as Procter & Gamble ( PG), which he also owns for his
Cramer: One Bank Worth Buying
A Sweet BreakupWith oil companies out of favor on Wall Street, Cramer said he's found an oil stock with incredible hidden potential. That's Marathon Oil ( MRO), a classic case of the parts being worth more than the whole.
A Pipeline to ProfitsIn his quest for high quality, high yielding dividend stocks, Cramer uncovered Boardwalk Partners ( BWP), a master limited partnership that owns two natural gas pipelines.