"I think it is time to recognize that something has changed with this market, and I think it's a change for the better. For the first time since the 1980s and let's say early to mid 1990s, we have a lot of legitimate stocks belonging to many companies with amazing balance sheets and terrific prospects that are flat out doing very well," Cramer said.
Cramer shared his experiences trading on the market in the 80s and 90s, saying it was a recession-free period where investors made a lot of money without facing punishment for being "giddy." He said he feels the past few months have been similar, with the market seeing strong numbers come out each day even as the Federal Reserve tries to tighten.
"I just think it means that we may be back in business-as-usual mode, not back to pre-covid, not pre-financial crisis, but back to the eighties and nineties when stocks were really indeed so clearly the best asset class and everything else just seemed like a waste of time," Cramer said. "But maybe, just maybe, maybe there are enough companies with good sales and orders and gross margins that we can return to a period where owning stocks didn't make you feel like a pariah or a daredevil.""Look, here's the bottom line: stocks can still be dropped by a spike in rates like today, and there can be some big cap stocks that disappoint," he said.