At 8:00 a.m. on Tuesday, futures are significantly down.
Some investors believe that the recent rally in equities was too much too soon, consequently they are expecting a pullback. At this point everyone is still jittery, to say the least, and so it could happen - wouldn't really be a surprise. Personally I am surprised the rally has brought us this far.
Data will come out today on manufacturing and pending home sales. It is expected to show that there is improvement in both areas and consequently more stabilization to the world's economy.
Even though futures are down about as much as yesterday, the day's final tally would seem to have more potential for change than on Monday. My meaning is that I am not giving up on the day quite yet.
We shall see...
Reuters: Stock futures lower ahead of manufacturing data
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4 comments:
emember what I was saying last week about America's present course is rapidly turning us into another So. American style bananarepublic. Here's a quote today from Huffington Post underlining what I said.
I asked Elizabeth Warren, the Harvard Law professor tasked with chairing the Congressional Oversight Panel in charge of TARP, what worries her the most.
"My biggest concern is what's happening to the middle class," she told me. "The middle class has been the foundation of America in every way. It has been the key not just to economic prosperity but to political stability as well. But, brick by brick, the foundation that supports the middle class is being removed. At a certain point, it's going to collapse. And when it does, when the middle class crumbles, we are going to end up with such disparity between the haves and the have nots, that America will come to resemble Mexico or Colombia -- with the wealthy living behind walls, unsafe in their own country and protected by armed security guards while everyone else struggles on the outside."
Its true, we all see it happening. This recession sent a ton of people on their asses. Most people lost a bundle in retirement especially if they are invested in equities. Houses have lost value, health care is continuing to be a problem. There is a lot of pain out there for people in anything other than elite or state type jobs.
Part of our problem is that there is a lot of restlessness in society and people are looking for stability. I'm sorry but a row of strip malls, and fast food joints, while cruising around in a new Ford 150 is not absolutely not the way to go.
I am a believer in trying to live below your means. Personally I only spend money on business related stuff. Don't own a TV, don't do the cruises, have a couple of pairs of pants. I still wear the clothes I got assaulted in back in 2007 lol.
Money is still only one strata, we still have access to more important things.
We have to try to be content, I am not starving, I have a roof, I'm grateful.
Your grateful now. But the truth is our society has slowly been reshaped into just another 3rd world situation. Most of us are just happy to be eating and living under a roof. Upward mobility has been replaced with downward mobility and the dream of a better life is disappearing for millions.
Not all of us see it happening. I got news for you I have plenty of friends who worked for the City, County, State or the, Feds and have great retirements now, full healthcare etc. Most of my friends that are trying to retire after working private jobs though are screwed. Their retirement funds are in many cases either gone or so depleted they can't retire now. A few are wealthy and willfully oblivious as if America is still a dream come true ( For them it always has been no change).
For myself I 'm 60 just had a major heart attack and I'm just glad to be alive let alone working. But as I recover I realize how utterly fucked I am now, I was hardly employee able before the attack now...LOL. I have yrs. till SS and Medicare and there are NO jobs out here. I can't even collect the UN anymore and maybe I'll get temporary disability? If my wife didn't have a job and benefits we'd be fucked. Even at that were lucky, we know many people that are losing their homes after losing their jobs. Many have kids in college as well. They have nowhere to turn. I don't see Obama or anyone helping these people. He helped the Banks and the brokerage firms alright and now he's getting ready to bail out the Healthcare Mafia. But what in God's name is he doing for the rest of us? No wonder his poll numbers are rapidly tanking. People are starting to understand that he's not planning on doing shit and their pissed. The Gopers and they're Corp. allies are as I said are hiring nobody so where does this all go?
You know a real lot of information. Excuse me for suggesting this but write some articles and start sending them off to Chimp and Huliq. The guy at Chimp - Jeff is very open. Those blogs are well read and can be jumping points to other places. I used to do some light research articles and some of them ended up in wild places. So the possibilities are there. If I had more time I would do that now, but I am tied to this house for a while.
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