Moon Kil Woong

'Clunkers' Spending Siphons Savings

It doesn't take a brain scientist to figure out the long term results of cash for clunkers. We will be grousing about the cratered car industry sales for the next 6 months. Now lets look at the end to the $8,000 buy a house incentive.

No wonder the government feels compelled to dump billions of stimulus money into the market in 2010. If they are lucky it will help negate the hangover from their 2009 stimulus.

Don't ask about 2011 because the government doesn't want to tell you.

Best Performing Stocks Since Election Day

Thanks for the chart summation. Once again financials get pwned and deservedly so. A few of them should be 100% loss as in bankrupcy please. Only then will we know we are nearing a bottom.

Some will say, sure it's bad for the market. That would mean you are thinking short term. In the long term it is valuable and neccesary to clear out the bad, especially when they are draining public coffers to survive. When companies are rewarded for good behavior and punished for bad that's how the market recovers, not when the bad get rewarded for gluttony (like Bank of America and Citibank trying to become a global banking superpower by overextending themselves or acquiring everyone they can and then asking for $80 or more billion dollars) at the cost to all good taxpayers.