Mad Money

Cramer Remix: It isn't Greek to me

Cramer: It isn't Greek to me

The good news about next week, in Jim Cramer's perspective, is that the Greek financial hostage situation will soon end. And while that is good news for Europe, the bad news is that it seems to be ending dramatically rather than quietly.

"I've been proselytizing caution all day in part because this Greece situation is a bit of a lose-lose proposition, at least in the near term," the "Mad Money" host said. (Tweet This)

This is partially because Cramer does not expect any dramatic action to take place over the weekend, as the 19 leaders of European countries will get together on Monday to figure out what to do with Greece.

It is also because Cramer expects that whatever events do take place, they will produce a usual bloody beat down of the S&P futures to mimic the weakness that Europe's stock market will experience. Plus, Cramer expects that the dollar will be stronger against the euro.

The combination of both a weak euro and skittish markets will translate into a big down opening for the U.S. on Monday. But what if a deal is made with Greece?

"I wonder if we won't immediately hear from the various Fed heads that, with Greece settled, the Fed will soon raise rates. I almost expect that to happen," Cramer said.

And if no deal is made, then the dollar will continue to rally and earnings will suffer. Either way, both roads lead to a selloff next week.

Read More Cramer game plan: Big deals to unfold next week

This all seems government led to me, not consumer led
Jim Cramer
Shareholders on a security trading floor in Shenyang, China.
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On Friday morning, Cramer heard the disturbing news from Hershey that chocolate sales were down because of a change in shopping trends in China. This led him to wonder, what is going on over in China that people are cutting back on chocolate just to make ends meet?

This news followed a note from the Wells Fargo research department that indicated that Macau gambling is nearing a four-year low, with June numbers off as much as 20 percent from the average of the first five months of the year. Expect trouble forMGM, Wynn and Las Vegas Sands.

Cramer also learned that Diageo confirmed that its best liquor brands have not been doing well in China. Additionally, sales for expensive clothing and accessories are down as well.

What could chocolate, booze, gambling and expensive clothing all have in common? One word—the government.

It is clear to Cramer that the Communist Party is cutting down on conspicuous consumption. Thus, the big casino trips to Macau are now a thing of the past. In his perspective, that kind of a dropoff doesn't happen unless it is mandated.

The slide in jewelry, liquor and chocolate sales could all stem from the government in China, too, as Cramer thinks this could all be related to a crackdown on government corruption. For instance, if someone wanted to bribe an official, what better way to do so than with a nice bottle of Johnnie Walker Black or an expensive Richemont watch?

"This all seems government led to me, not consumer led," Cramer said. (Tweet This)

Read More Cramer: Chinese slowdown is a government crackdown

A move that caught Cramer's attention last week was Johnson Controls' move to finally break itself up. He has been advocating for this for ages, as it was clear that its divisions did not all belong under the same roof.

Johnson Controls is a conglomerate that makes a wide variety of products, from automobile seating and interiors to batteries for cars and trucks, as well as heating, ventilation and air conditioning systems.

"The benefits here could be enormous. The seating business is No. 1 everywhere in the world and really deserves to be its own company so that it can raise enough capital to maintain its market leading position," Cramer added.

After a spin-off or sale, Cramer anticipates that the company could use the money to make acquisitions in order to boost its battery or climate control business, or to roll out a gigantic buyback. This is one move that could get the stock moving again.

To find out more about where the company could be headed, Cramer spoke with Johnson Controls CEO Alex Molinari.

"We are the leading seating company in the world. What is most important is we are leading company in China. So if you look what is happening, we have been through the outsourcing wave in North America, Europe, and the real opportunity is in China. And our position in China is something to be coveted," Molinari said.

We have never overestimated the demand for sports in this country
George Bodenheimer
former ESPN president
George Bodenheimer
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Fitbit came public as one of the hottest IPOs of the year on Thursday, immediately surging through the roof, up 50 percent from its $20 initial price. And you know what? Cramer thinks it could still go a lot higher.

"Even after this monster move higher, I think that Fitbit is still worth buying," the "Mad Money" host said. (Tweet This)

Fitbit is the No. 1 maker of connected wristbands that track health and fitness with approximately 85 percent market share in the U.S. Its products range from a $60 entry level wristband to track steps, distance traveled and calories burned to a full-blown smartwatch for $250.

So, why does Cramer love Fitbit? It all comes down to growth.

But what about the potential worries? Such as the one that the Apple Watch will eat into Fitbit's market share. This is a valid concern, as all of Fitbit's financials are from before the Apple Watch hit the market. Thus, the new competition could eat away at its fabulous growth.

"I think there is room for many players here, and I also think all of these competitive worries are already baked into Fitbit's share price and then some," Cramer said.

Read More Cramer: Will Apple devour Fitbit's market share?

If there is any book on Cramer's top reading list right now, it is "Every Town is a Sports Town," by George Bodenheimer.

Bodenheimer rose from working in the mailroom at ESPN in 1981, to become the cable sports network's longest serving president from 1998 to 2011, and then executive chairman until 2014.

Considering how much ESPN has changed the way that fans watch and learn about sports in this country, Cramer can't imagine a world without it.

Bodenheimer chronicles the rise of ESPN all the way from being a scrappy underdog where cable wasn't taken seriously, to being the world's leader in sports. He is also donating the royalties from his book to the V Foundation for Cancer research.

To find out more, Cramer sat down with Bodenheimer.

"We have never overestimated the demand for sports in this country," Bodenheimer said.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Fiesta Restaurant Group: "Fiesta Group missed in a way that Chipotle has not missed. That said, let's take each hub on its own bottom. I'm a buyer of Fiesta. I thought they came on this show and explained exactly what went wrong, and now it goes higher."

Kratos Defense & Security Solutions: "I like defense contracting, I like missles from a money point of view and I'm going to recommend that stock, too."

Read More Lightning Round: It missed, but I still like it