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Hit it -- the president's criticism of Wall Street comes as he pushes for bipartisan support war is stimulus plan this thing.
And speed 679.
Page plan -- passage.
-- this big plan will also stimulate your portfolio that's what some people are saying joining us now.
To see whether or not that's true it's fox -- -- got -- from after LLC he's here in New York for change and Scott case from case of financial advisory Scott case first -- you.
What do you think of this plan while white what do you think this will do -- for stocks if anything at all.
Well unfortunately they have I think it would be very -- -- -- look through the plan.
There's actually not that -- -- -- that's designed to create jobs and stimulate the economy.
Even the tax cuts are primarily in the form of tax rebates.
Which is probably about the least effective -- kind of tax cut you can DO.
There's an awful lot in there for things like extending unemployment benefits health care benefits they just don't have anything to do with the expanding the economy.
Scott -- we got to -- here Scott Martin in studio what you say well David somewhere that spending is gonna end up.
Right it's gonna come down to the corporations at some point the question is when.
In I have to disagree -- on the unemployment side you do need to extend these benefits and and you saw the jobless numbers just a ridiculous okay.
People do need some help in the job front so what you call that stimulus well all let's do well but it for the markets relationship to it yes it is because eventually those people are gonna get back on their feet faster obviously -- -- -- -- to help the market long term this spending Scott -- on on STD's I can understand calling that's stimulus.
But the no seriously -- I think here you have the president wagging his finger at some Wall Street -- who did some very stupid spending things Waller were taken TARP money.
I understand I get it I get why they're mad.
But you know.
When it comes to actually stimulating the economy.
Which do you want to point fingers -- a plan like this 679 pages or.
You know Citibank buying a fifty million dollar jet.
Scott -- is that to me David -- a kite.
Yeah out my absolute number there's no doubt that Wall Street had has spent some stupid things -- but the fact is -- that.
The free markets allocate capital much better than the government those were at a crossroads and we've got to decide as a country are we gonna go down a path.
Where we -- capital in the hands of the free markets allocate that apple are we going to take a central planning approach that the government allocate that capital.
The fact is what has worked in the past several times.
Is put the capital in the hands of entrepreneurs of the free markets let them put the capital where it's -- be used efficiently.
You saw Kennedy when they cut taxes in the sixties and Reagan bush.
Every time the result has been an explosive economy an explosion of government tax revenues.
That's a much better path -- this socialistic central planning approach that we're taking right now most.
And that's what guys let's stock talk stocks here for a second it's got -- -- all star review.
Attack you think that the tech -- is gonna lead us out of this thing once the market -- going right which is anybody's guess that's when that isn't an.
Participation in this by as far as apple and say Google -- is you start small I mean you start relating into this market you don't put all your money to work at one point.
But I did it again you look at apple as a stock Steve Jobs out there Tim Cook is highly capable.
The stock itself I mean it's down off that Steve Jobs news it's up a little bit since -- we've learned more about the succession planning their -- I think the stock itself is in good position to rise this year a Google wise people are spending more money on advertising but through the Internet.
Not the traditional ways of -- -- -- you can -- it on the Internet Google as the leader they're killing Microsoft all the auto companies have a lot of cash and good absolutely Xena standing right exactly Microsoft and probably somebody spending some money in its Google -- right -- Scott case.
Healthcare let's talk about -- second how do you play that -- I think one of the best bets right now -- united health -- on the largest health insurers in the country.
Lot of thanks a lot about this company want -- -- and an area where size matters.
Yeah a lot of customers seek out United Healthcare because of the number of positions on the plan physicians seek it out because of the number of customers.
They have low capital requirements last year they generated three and a half billion dollars in free cash -- Spent two and a half billion of that to buy -- shares so I think you've got a company that's seat right now selling for he has just over nine.
With good growth prospects ahead -- the very hard.
All by the way Scott case very quickly air -- What is it why do you like it now.
Well this is Philip placing your portfolio to really play a -- down in the economy.
There's a market leader in industrial gases to packaged gas industry.
There and customers are very sent it to the economic cycle.
And so as the economy does begin to turn you would expect companies like this there's -- we outperform pretty significantly on the up.
-- -- yeah Scott case I disagree with -- a 100% you know why.
Because you talk about gas line this is the leader of gas this 679.
-- -- don't get a there are that are better than they -- -- -- -- candle -- -- -- yes thank you -- Scott -- we thank -- -- for.
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