Despite what you may read, the economy isn't "fragile," Cramer said Monday. In fact, it's "resilient" globally speaking.
Germany, for example, has its lowest unemployment rate in 19 years. China's economy is growing nicely. India and the rest of southeast Asia continues to grow. In the western hemisphere, Cramer thinks Brazil's economy is "amazing" and said it will only grow as the Olympics draws near. Meanwhile, Argentina and Mexico are experiencing economic growth. Cramer said Australia and Canada are both on an "incredibly firm footing" and Africa is making strides, as well. Lastly, higher oil prices is helping the Middle East get back into the black, including and especially Dubai in the United Arab Emirates.
If the world's economies are improving, why is the US lagging behind? The aforementioned countries focused on economic growth, Cramer said, unlike President Barack Obama who chose to push his health care and financial regulatory reform agendas. It didn't help the US had Fannie Mae, Freddie Mac, AIG and other "black holes" to deal with — problems other countries didn't need to face.
So while the US economy seems fragile, the global economy is anything but. Cramer thinks the Fed is likely to help create jobs with quantitative easing, but it will come at cost inflation. That's why Cramer recommends investing in SPDR Gold Shares exchange-traded fund, which tracks the price of the precious metal. He also recommends investing in some of the world's booming economies, like India via the INXX or consider investing in Brazil through the EWZ . Cramer also likes 3M because of its big overseas business.
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