At 8:20 a.m. futures are down baby down.
What is going on? Well its like this. Wall Street is showing you, you ingrate, that it is not pleased in the least little bit with your spending agility these days.
You are not out there throwing your money around and Wall street is going to teach you a lesson you will never forget. In other words, your retirement is being postponed...
Merrill Lynch, now there's a name we can trust, downgraded a whole slew of tech company stocks yesterday. The reason is the same reason. You are not out there buying, how many times do we have to tell you to start throwing your money around. We don't care if you don't have any. Credit is just as tasty and who cares if the interest rates are around 35%, we don't care.
You see this is the hidden colloquialism that comes after, "In God We Trust." That would be, "We Don't Care." This is just plain old happy conservative compassion. You are out there on your own brother, but buy my new computer. In fact if you buy two right now, we'll throw in a free eye exam or $50 off your next co-pay.
CNN: Stocks set for another slump
...Dell's disappointing earnings.Reuters: Futures down on weak commodities, on quarterly results
"Retail is looking generally weak - weaker than expected, given the high unemployment rate...It's showing that people are tightening their wallets. Retailers are going to be feeling it this year."
"Low interest rates are supposed to make investors want to take risks, but that's not happening. People remain very nervous about the economy and especially about the consumer.
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