Cramer: How a Weak Dollar Is Good for US Companies

"This is our time," said Cramer on news that the dollar was down against the yen Friday.

Cramer said a weak dollar will help the US "crush" global competitors, including and especially Japan. As the yen continues to climb, he thinks Japanese companies will lose out to "cheaper" American businesses. On a higher yen, the "Mad Money" host recommends owning construction machinery company Caterpillar because it will be less expensive than its Japanese rivals. He said the same is true of pharmaceutical companies and the like.

US companies have recognized that the money is currently in emerging markets around the world and have done a great job at investing in those areas, Cramer said. Those investments have helped them to beat on earnings, despite low growth found in the US. With the dollar down against the yen, Cramer thinks US companies will win even more business in those profitable emerging markets.

On a related note, mineral giant Vale has to decide what kind of equipment it should buy after having recently announced a sizable expansion to its capex program. As the yen continues to rise, Cramer thinks Vale would avoid buying a Japanese company and go with a US brand instead, like Caterpillar, Joy Global or Bucyrus International . He thinks the weak dollar is also giving aerospace name Boeing an "edge" over Airbus, its Blagnac Cedex, France-based competitor.

When this story was published, Cramer's charitable trust owned Boeing and Vale.

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