NEW YORK (TheStreet) -- "America is the worst place to invest, except for all the others," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

He said investors who are puzzled over the market's resilience are thinking too narrowly. "The U.S. may be bad, but the rest of the world is far worse," he said.

Cramer said investors used to flock to China, but fears that the Chinese economy is grinding to a halt are now keeping investors aways. Japan, he said, once a strong performer, is now a no-growth economy. Australia may be great, but it depends on China for exports, and India is riddled with hyper-inflation.