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NEW YORK (TheStreet) -- "I'm old. In most cases, that's a bad thing," Jim Cramer said on "Mad Money" Wednesday. But occasionally there are benefits to being old -- and today is one of those days.

These are not normal times, even in earnings season, he said. Wednesday's weakness had nothing to do with earnings, which were predominately good. The weakness, Cramer said, is about emerging markets, and the impact on our own stock markets. Cramer said he's uniquely qualified to riff on this spillover because he's been around long enough to remember investing through other emerging markets panics just like we're having right now.

Turkey hiked interest rates on Tuesday night, hoping that people would stop taking money out of the country, Cramer said. He remembers that 22 years ago, Turkey was supposed to be the next Germany. He couldn't resist investing there. Well, currencies declined and in a month his money was cut in half, and then halved again as international currencies spiraled out of control.

The reason you hear so much concern over markets like Turkey, Cramer said, is the concern that its problems could spread.

What about Mexico? In 1994, it was all the rage. Cramer learned to stick to his knitting after his Turkey experience and keep his money at home -- and gained.

Don't let the discussion about emerging markets scare you off your game, Cramer said. Stay focused on what works. This isn't like the recent euro mess, which shellacked some of the world's most developed economies.

Cramer said to be patient in the face of what could be a 5% decline. It's time to evaluate your timeline. If you're in for the long haul, get your shopping list ready. You might need it.

Executive Decision: Dave Cote

Even though everyone seems terrified about the global economy, let's not get too despondent, Cramer said. There are still plenty of high-quality companies that are executing fabulously.

Consider Honeywell (HON - Get Report), a holding in Cramer's charitable trust, Action Alerts PLUS. Last Friday, it reported great results and strong headline earnings that were lost in the shuffle of a major market selloff.

CEO Dave Cote said he is very bullish on aerospace. Honeywell's aerospace segment makes up about 32% of its total sales. He said he looks at macro trends such as what is likely to happen over decades. Cote doesn't see a future where planes aren't a bigger piece of the overall pie as the world becomes more wealthy, especially in GDP per capita. Families are more dispersed, businesses become more global, and cars can't get you to those places.

His company is paying attention to China, Cote said. China became Honeywell's second-biggest country for sales in 2013. Economic statistics in China aren't wholly reliable, but Honeywell is bullish on the country, with organic growth of 13% in the fourth quarter of 2013.

Cote also touted Honeywell's turbocharger business, which utilizes the company's technology in jet engines with fuel efficiency implications for automobiles.

Executive Decision: Doug Parker

Cramer has avoided recommending airlines until recently. But with just four carriers handling 80% of domestic flights, he thinks airlines are a great buy now, none more so than the new American Airlines Group (AAL).

CEO Doug Parker said the airline industry is night and day different from a generation ago. Through a number of mergers, the industry can now provide a scale that makes sense and get passengers where they want to go efficiently. It's now a business that works for investors and customers.

We can always fill airplanes, Parker said. The question is, can we fill the seat at a level that covers the cost of flying that seat around? Parker said that's what the company has done poorly in the past, and that's what it's trying to doing better now.

Noting the company's $10.3 billion in cash, Parker said, "We're going to look ahead and if we feel good, we'll be paying down debt and eventually returning it to our shareholders."

Lightning Round

In the Lightning Round, Cramer was bullish on American International Group (AIG - Get Report), American Airlines. Henry Schein (HSIC - Get Report) and B&G Foods (BGS).

Cramer was bearish on Jones Energy (JONE), JetBlue Airways (JBLU - Get Report) and ConAgra (CAG).

Executive Decision: David Demshur

Core Laboratories (CLB - Get Report) President and CEO David Demshur spoke with Cramer on the heels of the company posting quarterly highs for EPS, net income and revenue. CLB reported revenue up 9% year over year, with EPS increasing by 22%. Cramer considers this stock to be the scientist of the oil and gas industry.

Demshur attributed his company's strong quarter to some new technology and activities in domestic shale plays and the Golden Triangle in deepwater areas offshore in Brazil, West Africa and the Gulf of Mexico. It provided the company with its fifth consecutive record quarter in EPS, net income and revenue.

Core Labs has about 1,200 reservoirs, with plans to add 50 fields per year. Demshur says its technology enables oil companies to determine reservoir quality to better estimate their profits. Every frack stage is an opportunity, Demshur said.

"We are high on the Permian Basin assets," Demshur said, and think there are additional billions of barrels of oil to be recovered there over the next several years. Core Labs expects North American activity levels in the first quarter of 2014 to ramp up from the previous quarter.

Cramer said that if you believe in the technology of oil, you believe in Core Labs.

No Huddle Offense

There used to be a time when the State of the Union was an event on which you could invest, Cramer said. It would be terrific if we could convince countries to take more of our goods while not taking more of our jobs, and polluting less with the jobs they do take.

But the opposite is true, Cramer thinks, and the President's annual speech is not all that investible.

The nod to natural gas? Cramer looked at the text of the 2012 text that said the exact same thing and nothing happened. Companies like Clean Energy Fuels (CLNE - Get Report) and Westport Innovations (WPRT - Get Report) jumped up temporarily before returning to previous levels.

It was a very nice speech. Still, the President can't get anything through Congress, and Cramer said he certainly wouldn't invest as if he could.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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-- Written by Chris Sahl in Boston.

At the time of publication, Cramer's Action Alerts PLUS had a position in HON.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

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