In such a harsh and unforgiving market, Cramer thinks a stock like Quintiles Transnational Holdings could be worth buying into weakness, as long as investors have patience and are willing to build a position slowly.
Quintiles is the top contract research organization that helps drug companies manage their clinical trials. The good news about this stock is that it has virtually no exposure to the world's economies. So, no matter how weak the Chinese or U.S. economy gets, investors will still buy stocks in medicine and pharma industry.
This stock has been in the house of pain, lately, down to $63 from $80 in late July. This is partially due to the scrutiny of drug prices from Washington, and also because this market is so hideous.
To learn more about where the company could be headed, Cramer spoke with Quintiles CEO Tom Pike.
"We really understand this science well, we have some really innovative drugs coming and because of that we are seeing an attractive approval environment. And because of that we think 2016 for a business like us, and Quintiles in particular, can be a strong year," Pike said.
Jim Cramer has a memo to everyone in America who is salivating over winning $1.5 billion in the Powerball lottery — don't bother playing.
"I am going to win, and I'm not just saying that because I have delusions of grandeur, although that is certainly part of it," the "Mad Money" host said.
In fact, Cramer has a higher level of confidence in the numbers he picked for the lottery than he does with any oil stock that sells below $10.
"When I gave up my hedge fund in 2000 I recognized that there was more to life than making money. Giving back this lucky fortune sounds like a much better idea," Cramer said.
If Cramer wins the jackpot, in addition to giving most away to charity, he would buy his own island. Or he would take advantage of the strong dollar and buy a castle in Ireland or a villa in Italy, preferably between Florence and Siena.
"Why the heck not? You only live once, or as the kids say, YOLO!" Cramer added.
Read More Cramer: YOLO! How I would spend Powerball winnings
In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:
Hertz Global Holding: "No, Hertz has got accounting issues. It's got a slowdown going on. That's the last thing we want to buy right here."
Moody's Corporation: "I'm worried there is not enough corporate issuance to be able to intrigue me. That's why not enough ratings. That's not going to be good for Moody's business."
Read More Lightning Round: A stock with a suspicious yield