The Market On Thursday

Good morning. It is 68 degrees and sunny hazy here in Upstate NY. Yours truly engaged in a Bacchanalian feast last night and as a result I am running about an hour late. But it was oh so worth it. I think it was the wine that put me under the spell. The tiramisu dessert was amazing. We need to live too, we can't just ponder the state of our debilitated society. In fact we need to live a lot more and enjoy life.

At 8:15 a.m. futures are flat, the dollar is mixed, and oil is slightly up.

I could copy and paste the same statement about the market that we've seen for the last several days except today its a little bit worse.

Investors are still selling off equities as the debt ceiling "debate" (debate?) continues with extremist Tea Bag GOP loons pushing for Armaggeddon, bless their screwy little twisted minds. The keyword is little.

In addition to pending Armaggeddon, we will soon see more information on how bad the job market is, how bad pending home sales are, and how slight the GDP expanded in the second quarter. Its a virtual merde storm convergence.

My advice is to enjoy life. We don't have to tank our well being or our happiness as the USA (and by that I mean ordinary non billionaire type citizens) sinks a bit lower into a lesser society. Make no mistake, that is what is happening and the elite wealthy have placed the burden of that demise on the middle class and poor while they drink our blood through a platinum straw.

CNN: Stocks to continue debt debate watch

Worries about Washington's inability to reach a solution for its fiscal problems by the Aug. 2 debt ceiling deadline have sparked a recent sell-off in the market...


A report on pending home sales from the National Association of Realtors is due at 10 a.m. ET.


Investors are also looking ahead to Friday's monthly GDP report.