Cramer said on CNBC that he is bullish on the defense industry and has four stocks that he believes are investable.
Regardless of what happens with the Federal Reserve, one industry that is booming right now will keep booming. The defense industry is on fire, the host said.
The Russian invasion of Ukraine is a game-changer for the defense industry, and you have to be ignorant not to notice.
Cramer has a list of four defense stocks.
The S&P 500 has plunged 18% in the year-to-date period, while the iShares USAerospace & DefenseETF and the InvescoAerospace & DefenseETF have declined 4% and 5%, respectively.
This is just the beginning. He said that if the defense contractors can hold up during the worst tape in years, they can soar when the market gets less hostile.
The United States and countries in Europe will likely look to invest more in defense.
Cramer said that the U.S. will have to spend to replenish its own military equipment while continuing to send aid to the warring country.
Cramer predicted that the two countries will have to increase their military spending.
If Sweden and Finland join, they will have to substantially increase their defense spending as part of their treaty obligations, but then again they live right next to Russia, so they would probably do it anyway.
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