The market is crying, and politicians are finally acknowledging the tears flowing from China and Germany.
Chinese Premier Li Keqiang said on a visit to Germany on Friday that the global economy was facing more uncertainty but that China still had "vast growth potential." Likewise, German Chancellor Angela Merkel expressed willingness to take actions necessary to stimulate growth.
Jim Cramer is happy that they finally acknowledged the elephant in the room.
At least it's a start, as these two countries have been the most tight-lipped about recognizing the high stakes that are being played out. With the issues simmering around the world, Cramer thinks it is at least better late than never.
Right now around the globe there is a battle between Ukraine and Russia, ISIS is advancing with unspeakable acts and taking more territory, and heightened security issues persist in North Korea. Not to mention the Ebola virus that is spooking people all over the world.
One market sector in particular shocked Cramer on Friday. Semiconductors, which had remained largely unscathed, are now showing an impact from politicians' lack of acknowledgement.