The Market On Monday

Good morning and welcome to August. It is 71 degrees and sunny here in Upstate NY. We are truly reveling in a glorious summer. I can't recall a better summer in recent years. The weather and temperatures have been outstanding. I hope everyone had a great weekend. I had a reunion with an old friend on Saturday, someone I had not seen in decades. It was good, I am still processing the meeting.

At 8:00 a.m. futures are significantly higher, the dollar is mostly down, and oil is up.

Investors are allegedly staging a 'debt relief' rally. Needless to say world markets were pleased to hear of a pending agreement on the debt ceiling.

The middle class and poor in America might have a little buyers' remorse when they actually learn about how we will be paying the price, and for at least a decade.

Regardless, on Friday the government issues its report on employment in July. Make no mistake that report is going to blow. Corporations added dick to the positive employment numbers in July. The "job creators" sat in their vaults and acted like little babies fondling a huge nipple except they were throwing gold around.

Yours truly is disgusted with:
a. Our simpering weak spined conservative president.
b. The dimwitted Tea Party and its GOP enablers.
c. The debt deal which will screw us, make no mistake about it.
d. The elite wealthy whose greed exceeds anything that has ever existed on the face of this planet, ever.

CNN: Stocks poised for 'debt relief rally'

"The market is expecting that the deal will come to pass, even if it's not unanimous."


The job market remains one of the roughest spots in the economic recovery, and investors will be bracing for the all-important July jobs report due Friday.


"If the figures on Friday come below estimates, that will only compound economic concerns and lift the probability of the economy falling back into a recession."