'Fast Money' Recap: The China Rebuild

Melissa Lee hosted CNBC "Fast Money" show Monday night. She kicked off the show with a discussion of China's $586 billion stimulus plan. Tim Seymour said he got the sense that China was pre-buying the news on Friday afternoon. He says, "It was a strange day, and there was light trading."

Jeff Macke said good economies don't need any stimulating, and he said he would sell any government intervention of this size. Pete Najarian said the interesting thing about China was that the country called it a "stimulus package" when everyone else in the world calls it a "bailout." He says "financials were weak from the beginning," and Goldman Sachs Group(GS Quote) led the charge down.

Lee moved that consumer stocks were very weak today. Guy Adami said Circuit City(CC Quote) going belly-up isn't exactly good news for Best Buy(BBY Quote). Macke told viewers he shorted some Best Buy because the stock was up on the Circuit City news.

Seymour mentioned that everyone is talking about infrastructure, whether it's Obama or the Chinese. He told viewers to look at cement stocks such as Cemex(CX Quote) and Lafarge(LFRGY Quote), which are very beaten-up.

Moving back to China, Seymour said the China's announcement wasn't a big deal, because 90% of the stimulus measures were things that were already announced weeks ago. Najarian told viewers to look at the numbers that Sohu.com(SOHU Quote) reported recently. He said he expects SINA(SINA Quote) and NetEase.com(NTES Quote) to report "staggering numbers" later this week.

Lee asked the traders if General Motors(GM Quote) is heading to zero. Adami said yes. He criticized Barron's, which had a cover story back in May that said General Motors was going to $30 or $45 per share. He says "if you want to trade stocks, trade something else." Macke said from a "free-market perspective" he would love if we let General Motors die. Since we don't, he says "I vote we socialize it and downsize it ourselves."