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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: DD™ who wrote (4964)	10/19/2009 8:34:02 AM
From: Boca_PETE	1 Recommendation Read Replies (1) \| Respond to of 10065

Despite Brinker's optimism on this weekend's program, David Rosenberg this morning on CNBC in the 8-8:30am EDT time slot expressed the crux of my concerns perfectly: "Currently, CREDIT IS CONTRACTING AT A 15% ANNUAL RATE. With the $14 TRILLION in NET WORTH DESTROYED and the amount of PRIVATE SECTOR CREDIT THAT HAS COME OUT OF THE SYSTEM, it's very hard to believe the stock market will continue to rise in a straight line even over the next 18 months." I don;t see looking at the future implications on earnings of the above facts as what Brinker labels "looking in the rear view mirror"! That destroyed net worth and unavailable credit is no longer there to generate future profits. As Mr. Steve Wynn said recently, GOVERNMENT NEVER CREATED A SINGLE JOB. IT ALL STARTS IN THE PRIVATE SECTOR where private sector Labor toils and is paid compensation. That compensation is taxed. Those taxes are the source of government revenues used for government spending. P