Strong demand is the one thing the market is missing, Jim Cramer says.
"Among the many reasons why we have developed this vicious volatility of late is the belief that demand is waning in many industries just when the Fed wants to tighten, hence why we ultimately drifted lower again today," the "Mad Money" host said.
On the flipside, if demand is not declining rapidly, then investors can tough out the market.
Cramer heard the concerns about lack of demand everywhere at CNBC's Delivering Alpha conference this week. It seemed to him that the vast majority of speakers had written off the prospect of robust growth in demand, either in the U.S. or overseas.
"I view things differently. While I have a macro worldview … I am a bottoms' up guy, a person who looks at demand company by company and makes an aggregate case based on the pastiche that I can put together," Cramer said.