Cramer's 'Mad Money' Recap: DEFCON 2 Is Here
Excerpt...
"Cramer said that he sometimes struggles to put this market into context, but noted that with the euro continuing to weaken, the possibility of a nationalization of a major European bank is back on the table, as is the possibility, and probability, of big downgrades on the debt of one or more soverign nations. That, in turn, will lead to the likelihood of a severe recession, said Cramer, lowering growth worldwide.
Our markets will fall in that scenario," said Cramer, and that scenario is becoming increasingly more likely."
thestreet.com 
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