Friday, February 6, 2009

Obama about to disappoint (me)

All the bad apples are rising:
- zombie financials: JPM, BAC, WFC, C, etc.
- and overbuilders: TOL, LEN, HOV, PHM, etc.

All these stocks are up 10 to 20% today.


If these are the companies who will benefit from the US administration stimulus, then it is really disappointing.


Bad economics as Jim Rogers would put it.


This would be supporting two industries that have inflated and led us to this mess. These industries benefited during the boom and can now afford lobbyists, and strong political backup it seems.
Not only these folks have their pockets full, they will now keep their jobs even longer.


I recommend Mike Morgan´s post. He seems even more disgusted than I am.


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