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February 4, 2009 MARKET UPDATE   This will be a quick but important update. The Obama administration, along with our new Treasury Secretary, will be announcing their financial bailout and fiscal stimulus program early next we ...

Posted On February 06, 20092 MIN Read
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February 4, 2009

MARKET UPDATE

 

This will be a quick but important update. The Obama administration, along with our new Treasury Secretary, will be announcing their financial bailout and fiscal stimulus program early next week…likely on Monday or Tuesday.

In light of this, look for the market to trade higher in the short term.

 

Longer term, absolutely nothing has changed…we are going lower, and most likely to new lows and then quite a bit more. Until the structural problems in our system are allowed to correct (massive debt going through its “natural” deleveraging process) all the bail-outs in the world will not work.

 

Other points of interest:

 

46 states will have a combined shortfall of over $400 billion this year, and as with most trends, the financial calamity in California will continue to work its way East.
Record pension bankruptcies are happening now, and 50% - 60% are underwater with little chance of recovering.
The next wave of bad de...

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