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[video] Jim Cramer Quick Take: Get Defensive

Tickers in this article: BMY
NEW YORK (TheStreet) -- As the government shutdown continues without a resolution in sight, TheStreet's Jim Cramer told Debra Borchardt what investors should do in the current environment.

According to Cramer, some people just don't care what happens with the U.S. debt and wouldn't mind a default. Those people seem to think that's the price we need to pay and seem to have control of the House of Representatives, he added.

The political back-and-forth can wreak havoc on individual investors, but there's an alternative. Cramer, one of the few who has been against the government shutting down from the beginning, said investors could look to defensive sectors to weather the storm.

Bristol-Myers Squibb can act as a rubric for what investors should be looking for in stocks, he said. Companies that are flush with cash and have no dependency on credit markets are the ones to be in when there's a risk of a default.

Cramer concluded that investors should buy calls to limit risk and use stops to limit losses. This way, investors can risk less, while still having upside potential.

-- Written by Bret Kenwell in Petoskey, Mich.