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For years, it has been common knowledge on Wall Street that anything linked to golf has been dying. And more importantly to Cramer, sales of golf equipment seemed to be stuck in a downswing.
"When it comes to sporting goods, golf exposure has been downright radioactive, as least as far as Wall Street is concerned," the "Mad Money " host said.
Lately, it seems that the notion that golf is dead may be wildly overstated, or at least too simplistic. Cramer compared it to the "death of the mall" narrative. It turns out that the golf space may be more complicated than previously assumed.
Back in May, Adidas announced it would sell off its golf division, which was in a decline. However, when it reported earnings a month ago, its golf equipment business saw a 7 percent year-over-year increase in sales. Additionally, Parsons Xtreme Golf has also gained market share in the golf equipment business.
The numbers just don't add up for Cramer right now. Companies, sectors and data all seem inconsistent, and it has Wall Street pulling out its hair.
"News defies the truth. Facts are stranger than fiction. Conundrums do not make for fabulous investing opportunities. So, until we clear up the inconsistencies, be careful out there," Cramer said.
For instance, a glut in oil continues to drive crude prices down, but then rumors surface of a deal between Russia and Saudi Arabia to throttle production, or that OPEC producers have finally agreed to cut back. Given the market's reliance on the direction of oil, Cramer no longer counts a rumor-driven market as an honest signal.
"Rumors always do the job of propping oil right back up. So, the real market should be lower, but the phony market keeps it higher," Cramer said.
Shares of Salesforce fell more than 4 percent on Thursday after it reported what Wall Street viewed as disappointing guidance for its third quarter.
"When a person with an exemplary record of beating the highest of expectations slips up and tells it like it is, blaming his team and, more important, himself for the miss, you give him the benefit of the doubt," Cramer said.
The title of CNBC's documentary "Ground Zero Rising: Freedom vs. Fear " encompassed the wide range of emotions Cramer felt as he reported on the rebirth of the World Trade Center.
"As someone who has worked downtown most of my life — including that day 15 years ago — I have watched as a hallowed hole in the ground, a grave site, has been turned into a thoughtful memorial and bustling center of commerce," he said.
Cramer said he began reporting on the documentary with two misconceptions. The first was that it would take forever to rebuild a site that could meld both commerce and remembrance in a dignified way.
As Cramer did interview after interview at the site, he soon learned that the noisy coalition of interests did come together in what he described as a "uniquely democratic way."
"One World Trade was successful in accomplishing the impossible: building a respectful memorial to those who lost their lives, as well as erecting a wondrous and secure tower that serves as a monumental statement of defiance and resilience that made me proud of our city and our country," he said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
FirstEnergy Corp: "Lower quality. Too low quality for me. It's American Electric Power, my charitable trust owns that, or alternatively I will bless Dominion and maybe Con Ed. But not FirstEnergy."
JetBlue: "Don't buy, don't buy. Nope, nope, nope, nope and nope. I think that Delta is better and my favorite is LUV, Southwest Air, but that group is very tough to own."
Programming note: "Ground Zero Rising: Fear vs. Freedom" airs on CNBC on Sept. 1 at 10 p EST