The real rub for Cramer is that in the world of marginal growth, China has basically been the main buyer of every raw good out there. Now it has turned into a seller, dumping everything from aluminum to steel into the world market.

The problem with China is that, unlike the United States, China was a place for emerging markets to sell goods, especially natural resources. Without Chinese demand, there will be too much of everything that involves commercial construction, notably the metals and mining equipment.

The loss of China translates into a loss of global growth and emerging growth. The impact to the economy is felt in the ripple effects by every U.S. company that exports goods overseas.

"Look, I'm not saying we've lost China. I am saying that the real worries about China don't have much to do with its stock market," Cramer said.

Read MoreCramer: My REAL worry for China (it's not stocks)



Many people have ruminated about the future direction of oil prices, but there is one guy who actually got the lower-for-longer call right before it happened. Cramer considers Rusty Braziel to be one of the most respected authorities of the energy space. Braziel is the president and principal energy markets consultant for RBN Energy, a one-stop shop for energy data, analysis and market commentary.

Given how important the price of oil has become to the direction for the stock market, Cramer considered it crucial to get a reality check from Braziel.

"Let's say the Saudis reduce their production. So, what's going to happen? Prices go back up. Then U.S. producers are going to jump in there, produce more. And if they do, then the prices are going to go right back down. So, now the Saudis have got less market share and less price. Why would they do that? It would just be nuts," Braziel said.