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Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital managing partner; Pat Dorsey, Morningstar.com director of stock research; Scott Bleier, HybridInvestors.com president; Tobin Smith, ChangeWave Research editor, and Peter Schiff, Author "Crash Proof."
Trading Pit: Will Tax Rebates Deliver New Bull Market?
A special delivery from Uncle Sam. And it's early. Millions of tax rebates start hitting bank accounts this Monday. Will all that cash for Main Street deliver a new bull market on Wall Street?
Gary B. Smith: It is going to be a continuation of the bull market that started back in mid march. People may use the money to pay bills or just buy coffee. Even if they spend half of it, it is going to give a significant boost, and is going to move the stock market up further.
Tobin Smith: Our research shows only thirty-percent of the money actually goes to buying stuff. You are putting cash in the hands of people who need it most. Maybe they are going to buy gasoline or food, but that doesn't stimulate the economy.
Scott Bleier: These people sure need the money! Over the past couple of months, the economy has lost over one hundred billion dollars in retail sales. March sales were actually flat. All of the stimulus money is going to help keep the economy where it is.
Peter Schiff: Hopefully Americans will have the good sense to do what the government is doing and pay back the debts they already have. That is how we got into this mess. We borrowed money on things we didn't have.
Pat Dorsey: This is going to be a drop in the bucket. If you talk to retailers and restaurants, they're saying the picture actually isn't that ugly. A lot of the retail stocks have already rallied in anticipation, so it is not going to help the stocks. Americans will take the money printed and buy stuff. In return we make the margin on selling it.
Stop Donating Food Overseas to Lower Prices at Home?
Food rationing in America. Both Costco and Sam's Club limiting the amount of rice customers can buy. All this while America's donating over two billion dollars worth of food a year to countries overseas. Is it time to stop giving and start keeping more food for ourselves?
Gary B. Smith: Absolutely! This two billion dollar program called Food for Peace which was started in the 1950's is broken, corrupt, and doesn't work anyway. It damages the local economies we give the food to. You know what they say about charity, it begins right at home. And right now people here are struggling.
Scott Bleier: You can't stop the charitable efforts we do with our food. We have the bounty of the world here. We should give away more food to people who need it, instead of subsidizing farmers when food costs are through the roof!
Tobin Smith: It is insane to ship food elsewhere when we need it here. If we're going to give it away, let's give it to our own people!
Stock X-Change: Stocks to Buy in May
Stocks to buy in May, that are set to go all the way! Right now in the Stock X-Change!
If you want to watch what each had to say about each stock, click here.
Gary B Smith: McDonald's (MCD )