In Jim Cramer's perspective, there is no denying that the market has undergone a tectonic shift. The market is doing better because business is better, both in the U.S. and overseas.
Stocks now have different catalysts than they used to, which means investors need to react differently if the Federal Reserve raises interest rates. Instead of dumping stocks on a rate hike, Cramer said to buy them.
"Business has momentum. This market is saying that momentum will not be broken up by three rate hikes, nor by the president, nor Congress. It is a rising tide that is lifting almost all of the boats, except those that did best under Obama," the "Mad Money" host said.
In the past decade, any time Fed Chair Janet Yellen spoke about raising interest rates, the market would plummet. Those days are now over, Cramer said. It is time to recognize that if the Fed tightens while business is doing better, it will not be a disastrous move, but instead be the validation that the market craves.