The Ticker

Did I Hear This Right?

By Kirk Shinkle

Posted: October 24, 2008

On CNBC a few minutes ago, Morgan Stanley strategist David Darst said we could get the Dow to jump 2,000 points if the government would just issue a bond for massive infrastructure projects at 5 to 6 percent yield. And Rich Bernstein of Merrill Lynch agreed with him!

So that's where we are now: Two of Wall Street's most respected strategists just said the way to get markets working again is massive public-works projects. Pretty depressing stuff...

i've got it.

I think that the government should invest in giving all Americans, especially farmers, enough money to build "back yard furnaces" for metal production. I think Chairman Mao tried something like that back in China a few years back, I think that we could REALLY make it work though!After all this is the United States of America, no plan is ridiculous as long as "we" do it!

Decapoe of NC @ Oct 26, 2008 23:32:10 PM

Bail out

Oh Yeah, by the way. Where are all the investigative reporters when you need them? Or have they all jumped on the administrations bandwagon? Why isn't anybody, particularly U.S. News doing an investigation on where the money is going and following up on the reults. Is the money being used wisely, is it reestablishing credit where needed, is it replacing funds lost in mortgage losses, is it providing funds to reenergize the mortgage industry which will in turn reenergize the housing industry? I don't see any of these questions or anything like it being asked. If we as taxpayers don't hold our lawmakers and corp. exec. accountable, who is? The media doesn't seem to be falling over itself doing anything of the sort. This is last chance to save our butts moment here before the bigshots in D. C. and Wallstreet consolidate their power even more and we as "Joe the plumbers" have a smaller and smaller opportunity to make our voices heard. Use your ability to write your congressperson and get out there and vote for crying out loud.

Henry McGee of VA @ Oct 25, 2008 14:26:46 PM

Two of Wall Street's most respected strategists?

Well, if you're writing a book on how to fail financially, those would surely be the first two you would want to interview.

HillbillyBill of TN @ Oct 25, 2008 08:11:31 AM

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The Ticker

The Ticker

Kirk Shinkle is a senior editor at U.S. News. He writes daily about ups and downs in equity markets, sectors and stocks. Formerly, he covered business and economics on both coasts for Investor's Business Daily.

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