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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (4287)	10/3/2008 4:41:05 PM
From: Bill Wexler	4 Recommendations Read Replies (1) \| Respond to of 6370

Whenever you have an economy that relies mostly on consumer spending, it doesn't take a rocket scientist to figure out that a massive middle-class tax hike (otherwise known as a "rescue" or "bailout" package) will not be good for the currency or domestic stocks (with the possible exception of the few banks who benefit from this massive misallocation of capital). On the other hand, it might be a good time to start bottom-fishing for Asian stocks. Eventually, investors will get wind of the fact that China, Taiwan, etc. will be among the first to pull out of the global recession, while we are left to continue paying interest on interest and devaluing our currency.