Jim Cramer's 'Mad Money' Recap: Stay Along for the Ride

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NEW YORK (TheStreet) -- "I'm not giving up on the stock market," Jim Cramer told his "Mad Money" TV show viewers Thursday, as he took on the bears who claim that a bubble is at hand and markets will soon crash.

Cramer said that while yes, it's true that the Federal Reserve has been propping up the markets with low interest rates and cheap money, their actions have also created a lot of "collateral positives," which are making up for spending cuts that are taking money out of the economy. The Fed's actions are not only making stocks attractive compared to every other asset class, they're also giving companies the ability to refinance and grow and hire, and giving the housing market a much needed kickstart, which ripples down to many other sectors.

The bears may charge that stocks are expensive, but tell that to shareholders of Kimberly-Clark , which announced a spinoff that sent shares soaring. The bears also fear inflation, Cramer noted, but as of yet, there still are no signs inflation is nipping at our heels.

Is there a bubble in Internet stocks, like Twitter ? Cramer said absolutely, but even there, it's hard to know whether a Twitter or Yelp will become the next Amazon.com , which makes their valuations at least logical.

Given that now is the time of year when money mangers are insatiably buying stocks to solidify their portfolios for year's end, Cramer said it's hard to make a case to sell in the current environment. That's why he advised taking some profits, but staying along for the ride with everything else.

Executive Decision: Cheryl Bachelder

In the first "Executive Decision" segment, Cramer spoke with Cheryl Bachelder, CEO of AFC Enterprises , a stock that's up 60% for the year, but also one that got hammered 7% in today's trading despite offering up a six-cent-a-share earnings beat on a 26% rise in revenues and a 5.1% increase in same-store sales.

Bachelder explained that she felt it was important to let investors know that with consumer confidence waning, AFC was seeing a slowdown in its growth. That said, she noted that their guidance remains solid and Wall Street may have overreacted to the tempering of expectations. It has been a great year for franchisee profits, Bachelder noted, and Popeye's remains a best-in-class franchise.