Last week, Cramer learned that the much-discussed merger between Allergan and Pfizer is really happening. This would create the world's largest pharmaceutical deal, with $160 billion in an all stock transaction.
The deal stipulated that Allergan shareholders would receive 11.3 shares of Pfizer for every one share of Allergan.
"Even though I think this is a very smart deal, one that will give Pfizer a tremendous pipeline of new drugs along with a lower Irish corporate tax rate, the market initially seemed pretty skeptical," the "Mad Money" host said.
Yet many questions remain on how the transaction will reward Allergan shareholders, given how much the company already has going for it on its own. That is why Cramer decided to go straight to the source, and spoke with Allergan's CEO Brent Saunders.
"I think it's a great opportunity for our shareholders," Saunders told the "Mad Money" host. "The way I like to think about it, it is taking our growth pharma engine and put it on a larger chassis called Pfizer. Look, we could have gone to $400 [dollars per share] on our own, but this takes us well beyond that for the foreseeable future."
Read More Allergan CEO on the world's largest pharma merger
For those investors that want to understand today's economy, Cramer says to take into consideration that the Pittsburgh Steelers are now worth almost twice as much as U.S. Steel.
At this moment Forbes Magazine values the football team at $1.9 billion. Yet the U.S. Steel company with more than 30,000 employees is only worth $1.1 billion, and the stock is down 70 percent for the year.
"Look, this is a real contrast — I'm not just trying to be silly. The United States produces some incredible entertainment and we do so in part by not diluting its value," Cramer said.
But the fact is that the world produces a massive amount of steel, and regardless of how good a company is at making the stuff, how low costs are, or where it's manufactured — there is excess supply.
Ultimately this group has been sacrificed, and Cramer thinks investor portfolios will also be sacrificed if they try to bottom fish in the stocks of these companies that cannot possibly compete in this new, unfair environment.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Arris Group, Inc: "Well it's done a lot of great stuff in the cable industry. I myself have always found that this is a company with inconsistent quarters, but it is in the sweet spot. I would not trade it right now, I would own it."
Eaton Corp: "Supported by the yield. The last couple of quarters were not that good, but 3.7 percent yield. If it goes to 4 percent I'm a buyer."
Read MoreLightning Round: It's in the sweet spot now