Certain things need to be done for the stock market to rally, Cramer said Monday. So the “Mad Money” host created a “wish list” that he believes will pull the market out of its slump.
First, Cramer wishes Greece would default. He thinks its debt troubles are impeding the world's economic recovery. The Band-Aid approach isn't working, he complained.
“It’s time for Europe to take the medicine and get with the program," he said.
Second, Cramer would like the U.S. government to force the exchanges to raise the margin requirements on oil, which could immediately send oil prices down.
Third, Cramer wants China to recognize that inflation isn’t has important as the slowdown that’s being engineered by its central bank, he said.
Fourth, Cramer hopes the U.S. government would take advantage of the low long-term interest rates and refinance its debt.
Fifth, Cramer said the U.S. government should recognize that the glut in natural gas is a great opportunity. By forcing trucks to switch from diesel fuel to liquefied natural gas, the government could effectively choke off OPEC.
Sixth, Cramer wishes stocks would trade to levels that their values suggest. If that were to happen, stocks could again become accidental high-yielders. Most stocks have further to fall, though.
And what about the social media bubble that began last week? Cramer would like the underwriters who under-priced LinkedIn to be castigated by the U.S. Securities and Exchange Commission.
Eighth, Cramer wants people to stop trashing Federal Reserve Chairman Ben Bernanke, who he believes is single-handedly keeping the U.S. economy afloat.
Ninth, Cramer would like stocks that are now trading in the triple digits to split. This would make them more stable and accessible to home gamers.
Finally, Cramer wishes President Obama would tell Congress there is no recess until it raises the debt ceiling and agrees on spending cuts. If that debt agreement is reached, Cramer said, “The world is ours to win.”
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