Jim Cramer on how it's different this time than 2007-2008

So, considering all of those negatives, how come I'm not yelling "fire?" How come I’m not revisiting 2007 and 2008?  One simple reason: we do not have systematic risk. We aren't about to fall apart at the seams. Our banking system is well capitalized, perhaps the best it’s ever been. The consumer is healthiest than any time in my lifetime, thanks to a strong job market, lower energy prices, and an aversion to debt because of the Great Recession.

[...]

It was unnatural that we kept climbing with nary a reversal for so long. This selloff is a normal correction based on legitimate worries that could impact a big swath of the market. We’ve had these kinds of downdrafts all the time, but the bottom line is, if I were the kind of guy that shouts “fire” in a crowded theater with every reversal like this then this show wouldn’t be worth watching. It certainly wouldn’t be on for ten years. Instead I have three simple, but painful words for this particular moment: stay the course. You see we’ll get through this one. And after ten years, I think it’s safe to say, we always do.

~ Jim Cramer, CNBC's Mad Money, March 10, 2015