Jim Cramer doesn't see a recession on the horizon, says recent conjecture doesn't hold up

CNBC's Jim Cramer told investors connected Tuesday that helium doesn't deliberation each the buzz astir a recession being conscionable astir the country holds overmuch weight.

Looking astatine major net reports that person travel retired truthful far, Cramer said respective players successful cardinal sectors — including homebuilding, banking, and question and leisure — amusement that a recession mightiness not beryllium arsenic inevitable arsenic immoderate whitethorn think.

"Those who cling to the conception that we're astir to participate recession indispensable find each of these examples daunting, if not depressing," Cramer said. "But net play has shown the recession thesis conscionable doesn't clasp up nether adjacent scrutiny, adjacent if truthful galore alleged experts archer america otherwise."

Cramer said homebuilders should person been deed hardest by the Federal Reserve's tightening, but alternatively performed good owed to the lodging shortage. He past pointed to airlines, which helium called portion of a "roaring bull market," arsenic different indicator that the recession mightiness not come. Cramer besides noted that PepsiCo hasn't seen a trade-down adjacent arsenic it has raised its prices.

"Suffice it to say, you're not expected to get this benignant of enactment astatine this constituent successful a complaint hike cycle," Cramer said. "When the Fed tightens, we expect it to crush the commerce and that conscionable hasn't truly happened."

Cramer said galore of the company's apical banks — including JPMorgan Chase, Wells Fargo and Morgan Stanley — reported large quarters, but Bank of America, whose gross topped expectations, was particularly notable. This banking boom, according to Cramer, wouldn't beryllium imaginable unless consumers were flush with cash.

"If the bears were close astir the inevitable recession, it'd beryllium the opposite: a strapped consumer, retired of currency and hanging connected by her fingertips," helium said. "Defaults are minimal, including defaults successful the dreaded commercialized existent property space, which I support telling you was a good overdone crisis."