CNBC's Jim Cramer told investors on Tuesday that he doesn't think all the buzz about a recession being just around the corner holds much weight. "Those who cling to the notion that we're about to enter recession must find all of these examples daunting, if not depressing," Cramer said. "But earnings season has shown the recession thesis just doesn't hold up under close scrutiny, even if so many so-called experts tell us otherwise." "If the bears were right about the inevitable recession, it'd be the opposite: a strapped consumer, out of cash and hanging on by her fingertips," he said. "Defaults are minimal, including defaults in the dreaded commercial real estate space, which I keep telling you was a well overdone crisis."

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Persons: CNBC's Jim Cramer, Cramer, homebuilders, PepsiCo hasn't, Wells, Morgan Stanley —, wouldn't Organizations: PepsiCo, JPMorgan Chase, Bank of America Locations: Wells Fargo