Meredith Whitney Is Still Bearish, Says The Government Has Run Out Of Bullets

Meredith Whitney

Analyst Meredith Whitney is co-hosting on CNBC, and though she says she’s bearish, she says she’s been “trading bullish” all year, up until Q3 financial earnings came out.

Benzinga notes some of her other comments:

She says the governnment is now out of bullets to support the economy. She says if the economy doesn’t slow down now, it will in Q1.

Whitney said nothing has changed other than the banks refinancing themselves. Meredith Whitney’s comments could help drive down the Financial Select Sector SPDR (XLF) in the pre-market.

Whitney says the overall market is extended. Meredith said she is 100% confident that the consumer is not getting any better and since 70% of the economy is supported by the consumer, the S&P 500 will likely fall in 2010.

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