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  • Preview from Europe: Barack Market Bounce or Bump? [View article]
    Nice article.

    It will very difficult for the market to rally in the face of the intertwined issues of financial market instability and economic contraction.

    Thus far, TARP has been poorly handled and the second tranche will be used for banks, the bad asset bank scheme and foreclosure mitigation. If banks are half way through loss realization, $700 billion is in adequate and spreading it around will only dilute its impact.

    Details of the stimulus package have been released and it does not square with campaign rhetoric and promises or economic theory. The proposal stands at $825 billion. Of this, $275 billion is in the form of tax relief and out of the remaining $550 billion in spending only $200 billion will be spent on infrastructure and schools. Again, lack of focus and dilution.

    As I sign off the futures are under pressure and there is discussion of the timing and adequacy of scale of both programs.
    Jan 20 07:13 am |Rating: +2 -1 |Link to Comment
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