After the horrific events that occurred in Paris on Friday, Jim Cramer found many worried investors wondering if the action on the tape on Monday was the real deal.
Could the U.S. be headed back into a murky slowdown, and could the Federal Reserve push the market into one if it raises rates?
"First of all, whenever there is a horrific terrorist attack, like Paris experienced on Friday, you know that you are not going to get a true market on the next trading day," the "Mad Money" host explained. (Tweet This)
Many of the buyers on Monday were what Cramer calls patriotic buyers. Those are investors who are looking to take advantage of any weakness in stocks in order to show the people that perpetrated these acts that it will not impact them.
In fact, when Cramer took a look at the underbelly of what is really going on in the market, it was ugly. There are some tremendous declines in companies that are linked to American manufacturing, which prompted Cramer to think we could be headed into a manufacturing recession, which could be very significant for much of the country.
"Boy, oh boy, are some industries doing terribly and need a declaration from the Fed that, in light of recent events, they have decided to let 2016 play out before thinking of tightening," Cramer said. (Tweet This)
One of those groups that worried Cramer was the auto industry, which is showing signs of peaking right now.