I hope Steve is right...but doubt it.
I am still looking for that good rally up in which everyone will begin to think things are ok again. I'm cashing out.
The economy is real sick and Omaba and friends are making it worst.
I'm not sure when Steve thinks things were much worse and scary. He does not say when. Maybe he thinks Obama has it all figured out and that higher taxes and government deficit spending will fix the problems. I do not believe that!
The only possible change to the depression situation is to create high inflationary environment. However, that is going from one mess to another, in which it just becomes all very messy.
A real bailout solution is to the people (not to business) ...say a 50% refund of all of the taxes paid for past say 4 years. The is a real bail out....which will bail out the banks.
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Steve Leuthold, whose Grizzly Short Fund returned 74 percent last year betting against U.S. stocks, said now is the time to buy equities because investors are too fearful about the economy. “These comparisons people make with the Great Depression are totally out of touch with reality, and pretty stupid,” he told Bloomberg Television in an interview today. “We’ve been in much worse, much more panicked and more scary situations in the U.S.” The economy isn’t as bad as it was in 1974, when stocks began rebounding, said Minneapolis-based Leuthold. He predicted the Standard & Poor’s 500 Index will surge to at least 1,000 in 2009, representing a gain of 44 percent from yesterday’s 12-year low of 696.33. Because a rally is likely, Leuthold said investors shouldn’t buy his Grizzly Short Fund. It has returned 26 percent in 2009. The Leuthold Core Investment Fund, which bets on stock gains, is most concentrated in biotechnology companies, automotive retailers and education providers, he said
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