NEW YORK ( TheStreet) -- Jim Cramer offered his prescription on his "Mad Money" TV show Monday on what it would take to get the market to rally. He offered up a wish list with 10 open-ended issues that need to be resolved before the markets can rally higher. He said until at least some of these issues are resolved, investors need to let stock prices come down and wait for lower levels. Cramer's wish list of items needing resolutions included: 1. Greece needs to default already. Cramer said default is inevitable, adding Greece needs to take the hard medicine and get it over with already. "We will all survive," he added, "let's move on." 2. Our government needs to raise margin requirements. Cramer said increasing margins would flush out the speculators and send oil to $85 a barrel and gas to just $3.25 a gallon. "How's that for recharging the nation?" 3. China needs to focus on their slowdown. Cramer said the Chinese need to realize that inflation isn't as important as what a slowdown does to the global economy. 4. The U.S. government needs to refinance its debt. Cramer said Treasury Secretary Tim Geithner needs to take advantage of low long-term rates and refinance the U.S. debt. Yes, it will cost $200 billion, he said, but it will save the country from a debt crisis of our own. 5. Switch to natural gas. Cramer said the U.S. needs to use its glut of natural gas to convert trucks off diesel and cut off OPEC once and for all. 6. The markets needs to get back on track. Stocks need to just sell off and find their bottoms so we can focus on earnings and growth again, he said. 7. The SEC needs to investigate underwriting. Cramer said the underwriters who brought LinkedIn ( LNKD) public need a strong warning that another bubble will not be tolerated. 8. People need to stop trashing Ben Bernanke. Cramer said the Federal Reserve chairman is the best one of our lifetime, and people need to start acknowledging that.
More than BotoxKicking off his "Healthy Week" series of defensive health care stocks that can rev up your portfolio, Cramer once again spoke with David Pyott, chairman, president and CEO of Allergan ( AGN), a stock that's up 109% since Cramer recommended it on Feb. 4, 2009. Cramer said Allergan may best be known for Botox and breast implants, but the company also has a thriving eye care and medical device business bringing a lot of growth and opportunity to the company. Pyott said that in eye care, the company's Restatis drug for dry eye is doing very well, and Allergan is also working on other drugs for retinal diseases. He said that Botox remains an important part of the company, but some $700 million in revenue is now coming in for therapeutic uses for Botox, such as for migraines, and the company is also working on using it for overactive bladder, a huge market. Once dark spot for the company has been its Lap Band device to control obesity. Pyott said the product's technology and FDA approvals are there, the company just needs to do a better job selling the product and more importantly, getting insurance companies to pay for the device which can help so many ailments, from heart disease to diabetes. Cramer said Allergan remains one of his favorite medical companies.
Housing Mess"Let's assume there's no housing recovery this year," Cramer pondered. He said with 3 million bank-owned homes, 4 million government-owned homes and possibly another 10 million homes underwater, that leaves potentially 17 million homeowners that could stop paying on their mortgages at any time. That explains why a chart comparing Bank on America ( BAC), a mortgage lender, looks awful when compared to CapitalOne ( COF), a credit card company. Cramer said it simply makes more sense to pay off your credit cards than it does your mortgage. Making matters worse, Cramer said our current regulatory environment allows foreclosed homeowners to stay in their properties, without making any payments at all, for up to a year, or longer. He said the system almost incentivized homeowners not to pay. Cramer said this rare and tragic turn of event does have a silver lining however, and thats for the retailers like Family Dollar ( FDO) and Dollar Tree ( DLTR), along with others like Costco ( COST) and Macy's ( M). Cramer said all of these retailers are profiting from consumers that now have more money to spend thanks to lower credit card bills and no mortgage to pay. It's sad, but its happening.