Cramer’s pretty confident that Bernanke has made his decision that he isn’t go to cut interest rates anytime soon, which, in Cramer's view, could send this economy into, or close to a recession. If that’s the case, you need to get defensive. One of the best ways to play defense is to pick up stocks that are heavy on foreign exposure. And one of the best rest-of-world stocks out there is Vodafone , Cramer said.
Vodafone is the second-largest wireless carrier on the planet with over 230 million subscribers. The only company that eclipses that is China Mobile . VOD is the ultimate pan-European play, which is good because Europe, as Cramer has been saying, is doing much better than the U.S. right now. Most of the continent is chugging along nicely and VOD already leads by market share in both Germany and the U.K.