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Cramer: Let's Banish the 2008 Analogy

With stocks having closed sharply higher Monday, Cramer wondered whether investors are running out of reasons to hate stocks. After all, the "Mad Money" host has spent weeks saying Europe would not have a Lehman Brothers scenario that the U.S. economy faced in 2008.

And after several developments over the weekend, Cramer still thinks the markets will not repeat 2008 all over again.

This weekend, a gigantic European bank named Dexia—a quintessential Lehman derivative, replete with no real deposit base and a huge amount of bad holdings—caused Belgium, France and Luxembourg to unite to create a good bank and a bad bank, finally leading to an end to Europe's debt crisis. In addition, French and German policymakers are now on the same page about how to handle Europe's economic woes. In turn, Cramer said the markets can acknowledge that the systemic risk can be taken off the table.

"This is the 'not 2008 after all' rally, courtesy of the Europeans adopting a Malcolm X, by any means necessary, plan to stop the collapse of their banking system," Cramer said. "Let's banish the 2008 analogy. It just isn't the right scenario, and after today that should be obvious to everyone."

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