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NEW YORK ( TheStreet) -- "This market will be all about what happens in Europe," Jim Cramer told the viewers of his "Mad Money" TV show Friday, as he laid out his game plan for next week's trading.

He said investors need to pay attention on Sunday night to find out what the European Union will do to handle its ballooning debt crisis.

Cramer said the EU needs a worldwide intervention, not just a European one, in which everyone from the U.S. to China to pitch in to bail out the bondholders left holding the bag as country after country verges on default. The European problem is solvable, he said, but without a global bailout.

On Monday, Cramer said that Markwest Energy ( MWE), a master limited partnership with a 6.4% yield might be just the place to hide. On Tuesday, Cramer gave the nod to Walt Disney ( DIS), a stock that will flourish as oil prices fall around the world. Also on Tuesday is the Federal Reserve meeting. Will they mention a recession? Will they mention buying Euro bonds?

For Wednesday, Cramer said the beleaguered Cisco ( CSCO) will report, and even after two jolting quarters, Cramer said the stock, under $15, may finally be a buy. Then on Thursday, Cramer said the battleground stock of SodaStream ( SODA) will report, and he'd play this company's continued growth with deep in-the-money call options.

Finally on Friday, JC Penney ( JCP) will have Cramer's ear, as he hopes to hear from soon to be CEO Ron Johnson, former head of Apple's ( AAPL) retail initiative. Cramer said even a "hello" from Johnson would be uplifting for the stock.

Cramer also cautioned that the ratings agencies will also take center stage next week. They could at any time downgrade Greece, or Italy, or even the U.S. thanks to our faulty debt deal. "You can't predict these," said Cramer, but they will have profound impacts on the market.

History Isn't Repeating

"Investors need to learn the lessons from 2008," Cramer told viewers, as he reflected on the similarities and differences between our financial collapse in 2008 and the pending European collapse of 2011.

Cramer said while the Dow is eerily close to the same level it was in 2008, this time is different. Back then there were crises in AIG ( AIG) and the insurers, in Fannie Mae ( FNM) and Freddie Mac ( FRE), in General Motors ( GM) and the automakers, and of course in Citigroup ( C) and all of the major banks. All of these, all at once.

Because companies back then were all insolvent, the markets got cut in half, down some 5,000 points, as investors had no confidence and no good reason to buy anything. But that was then, said Cramer, and then is not now.

Today, both GM and AIG are solvent and posting good earnings. There are still losses from Lehman Brothers, but those wounds are healing. Multinational companies across the board are all posting record gains.

Cramer said pointedly that this week's losses, and last week's losses, were not our fault, but the fault of Europe, which is having its own "2008 moment" right now. He said Europe needs to take the medicine and accept its losses.

As for the U.S. markets and our ailing debt deal, Cramer said our markets will take time to recover from the European contagion, but the U.S. is most certainly better off now than it was in 2008, which is why the markets will not be collapsing to that degree again.

Stealth Dividend Play

For "Speculation Friday," Cramer highlighted Cedar Fair ( FUN) a theme park operator with 11 amusement parks, seven water parks, five hotels and a secretly high dividend yield.

Cramer said if investors were to pull up Cedar Fair today, they'd see only a 2.1% dividend yield, but that yield is headed towards 11%. The markets just haven't noticed it yet.

He explained that Cedar Fair is a master limited partnership that must distribute most of its earnings to its shareholders. And while the company has a history of a big yield, after the collapse of Lehman Brothers in 2008, the company was forced to slash, then suspend its distribution all together.

But that's about to change, as the company affirmed that it's increasing its payout from around 30 cents a share to $1 a share soon, he said. By 2013, the company expects that payout to increase to $2 a share. With Cedar Fair shares off 23% from their highs, Cramer said now is a perfect time to get into this stealth dividend play ahead of the official payout increases.

Cedar Fair was able to refinance all of its debt, giving the company a stronger balance sheet, which will only aid in the return of its high-yielding payouts. And as gas prices fall, Cedar Fair will only benefit even more, as the migration from vacations to "stay-cations" continues.

Cramer said with these turbulent markets, it's time to circle the wagons around some winners, and Cedar Fair will be one of those winners as their payouts to shareholders begin to rebound.

Mad Mail

In the "Mad Mail" viewer feedback segment, Cramer followed up on 3D Systems ( DDD), a stock that stumped him in an earlier show. Cramer said that this prototyping and modeling company is in a good business, but has lumpy revenues and is not his cup of tea.

When asked whether Kraft ( KFT) is a buy ahead of the split up of the company, Cramer said that move has already happened and he would rather own Pepsico ( PEP), General Mills ( GIS) or Kellogg's ( K), all of which benefit from lower energy costs.

Cramer also opined on the news that Bank of New York Mellon ( BK) will be charging for large deposits. He said this is a terrific opportunity for another bank to step up and take market share.

Finally, Cramer issued a stern warning that investors should never use credit, home equity or margin to buy stocks, even those with large dividends. He said that stocks are only pieces of paper and investors should never go into debt to own them.

Lightning Round

Cramer was bullish on Exxon Mobil ( XOM), Chevron ( CVX), Anworth Mortgage Asset ( ANH), Annaly Capital ( NLY), O'Reilly Automotive ( ORLY), TAL International ( TAL) and Caterpillar ( CAT).

Closing Comments

In his "No Huddle Offense" segment, Cramer said investors need to invest in tanks, stocks with high yields that can survive the machine gun fire from the high-frequency trading machine.

Cramer said that in the old days, inside information used to give the big traders the edge. But in today's market, inside information is the kiss of death, and the rise of the machines, the automated high-frequency traders, give the big boys the edge over the home-gamers.

So how can the little guy compete with the machines that can drive markets up or down hundreds of point in just minutes? Cramer said it's with stocks like ConEd ( ED), Kimberly-Clark ( KMB) and Kinder Morgan Energy Partners ( KMP). He said these stocks have dividend high-yield protection and perhaps the only stocks that can survive the onslaught of split-second trading.

--Written by Scott Rutt in Washington, D.C.

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At the time of publication, Cramer was not long any equities mentioned.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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