Here we go, again. The critics have crawled out of the woodwork, and there is yet another showdown between Germany and Greece to create looming fear amid investors. Though that fear had negative implications on the market on Wednesday, it actually helped the oil patch.
Now hold on a second, because Jim Cramer is calling bluff and thinks people are blowing this Europe thing way out of proportion.
From a practical standpoint, even if Greece's finance minister, Yanis Varoufakis, actually does scare the pants off of Angela Merkel in Germany, that is good news for the U.S. stock market. It will shoot through the roof, as all of this money waiting on the sidelines for this drama to end.
What about the worst-case scenario, and Greece is booted from the euro zone?
"Now, people a lot smarter than I am but without a TV show would tell you this could have some huge ramifications for the Swiss franc and the Danish krone, if not the Hungarian forint," said the"Mad Money" host on Wednesday.
Regardless of how the Greek situation is resolved, the "Mad Money" host's favorite stocks will not be affected. He recommended stocks such as Zoetis, which hit an all-time high on Wednesday, or Rite-Aid and Chipotle, which have come back to life.
"You need to recognize that Europe has been the gift that keeps on giving, literally for years now, with each new crisis creating incredible buying opportunities," said Cramer.
As for the oil patch, Cramer recommended to not roll the dice and only stick with high-quality oil companies.
"In the food chain of companies that are horrible in the oil patch, Seadrill is right down there. Why not up your game and go with a Schlumberger? It's a great company, whether oil is at $40 or $140."