If it weren't for the trading halt, investors would have seen the same issues repeated on Wednesday. Europe barely produced positive results, and Cramer suspects the Greece situation is on the verge of resolution.
The Chinese implosion finally hit home as well, and it finally was clear that the country is in a downturn. Essentially Europe is stalled and China is headed down—not good news.
"You know me, though, there is always a bull market somewhere. So excuse me for thinking anything positive after a session when gloom ruled the day…but did you notice what wasn't talked about?" Cramer asked.
The one thing not talked about on Wednesday was the Fed.
It was just two weeks ago that the biggest issue on the markets was when the Fed would raise interest rates. However, would the Fed really want to tighten now when China could be crashing, oil is plummeting and iron is down 16 percent in one week?
So with the euro stabilizing, the Fed on hold, low rates and continued growth in the U.S.—Cramer sees a perfect storm brewing to buy stocks.
The "Mad Money" host recommended using the broad-based downturn to buy the stocks of high quality companies at prices that you like. This volatile market could bring a rare opportunity to take advantage of.
Read More Cramer: Buy, buy, buy! Rare opportunity right now
Earnings season was officially kicked off on Wednesday as the market heard from aluminum maker Alcoa. Cramer is always eager to hear from this company, as it provides terrific insight into everything related to cars, aerospace, trucks, commercial construction, packaging and heavy industrial machinery.
CEO Klaus Kleinfeld has been carefully turning this company away from being a commodity aluminum producer and into a manufacturer of high-value added aluminum products for airplanes and autos. Part of this transformation was Alcoa's strategic acquisitions of First Rixson and RTI International metals.
Alcoa reported on Wednesday, and while the company missed Wall Street's estimates by 4 cents when it reported, it did deliver higher than expected revenue.
Could the company's transformation drive the stock higher in the long run? To find out, Cramer spoke with Alcoa's chairman and CEO Klaus Kleinfeld.
"We are moving along the lines of what I have always talked about, the transformation of our core. More value add, becoming a lightweight metals expert while we are increasing the competitiveness of our commodity business," Kleinfeld said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Broadcom: "You own Broadcom? You just got a takeover bid! Congratulations, let's move on."
Lannett Co: "It's an acquiring pharmaceutical company and those stocks are all being hit right now. I think you need to wait three or four days into the decline, and then I would do some buying because I agree with you. Fast growing and doing the right stuff."
Read More Lightning Round: Only buy airlines if this occurs