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Subject: [doc-jp 74048] Bull & Bear - Market Update
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Does anyone out there really believe the current government programs will =
do anything other than kick the can further down the street and leave us i=
n a deeper hole=3F!=3F!  (sorry or mixing metaphors)


By Robert McHugh

The Commerce Department reported Wednesday that Housing Starts dropped a w=
hopping 10=2E6 percent in the one month period October 2009 versus Septemb=
er 2009, and fell 30=2E7 percennt below an already awful number last Octob=
er 2008=2E This is in spite of the $8,000 first time home buyers credit th=
e Central Planners decided was a key stimulus tactic=2E New Building Permi=
ts fell 24=2E3 percent from last year's lousy October number=2E Mortgage A=
pplications fell 2=2E5 percent last week=2E

Clearly the Central Planners' stimulus plan is not working=2E The reason i=
s simple, they have targeted a small minority to get the trillions of doll=
ars of government spending, and have failed miserably in conducting a stra=
tegy that would get cash into the hands of all American Households=2E If y=
ou have a clunker and are willing to buy a tiny car with a certain gas mil=
eage performance, if you are buying a new home for the first time, or if y=
ou are one of the largest financial companies on earth, you get the money,=
 and for the rest of you, go borrow money from lenders who won't lend=2E T=
his is essentially their plan=2E This is a formula for catastrophic wave (=
C) down to come=2E

The economy as a whole does not need riskier loans, and the American House=
hold does not need more debt=2E The Central Planner policy has been to goo=
se the largest financial firms and hope that everything else works out=2E =
Nonsense=2E This is not a policy to create jobs=2E This is not a policy th=
at gets cash into the hands of Americns so they can live, payoff debts, an=
d restore savings=2E There needs to be an across the board grassroots mass=
ive income tax rebate, and a repeal of the wealth-destroying property tax=2E=
 That is the only solution that will fix this worsening mess=2E The latest=
 housing numbers and unemployment numbers tell us things are getting worse=
 on Main Street, not better, and a major policy change is necessary if thi=
s economy is to avoid a double dip downturn, the next dip having the poten=
tial to be far worse than the 2007 to 2009 decline=2E

Both a Democrat, John Kennedy, and a Republican, Ronald Reagan, pulled thi=
s economy out of recessions with major tax cuts and rebates=2E It has work=
ed before and will work again=2E Consumers need cash from non-debt acquisi=
tion sources=2E It is that simple=2E



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