Coming Up On Wall Street

Good morning. It is 64 degrees and cloudy here in Upstate NY. I am hobbled by an aching lower back, too much heavy lifting yesterday, and so I am gingerly going about the morning. Clearly its time to put more effort into yoga. I spent many years studying and practicing yoga and then let it slip - not the best move.

Nothing in this excerpted article from Reuters would give one confidence that equities markets are stable or improving. Its just the opposite.

All of the demons that have plagued the markets for the last several months are still there and it also appears a few are ripening to their possible ugly conclusion. For example Greece heading into an economic collapse probably has become a higher likelihood in Vegas betting parlors.

Another stinker right now are lower earning estimates from S&P corporations with banks at the top of the list. Allegedly tech stocks are in a happier place.

So how far does it fall, and when does it turn around. Yea I wish I could predict that, but I believe that the turn around occurs several years down the line with high unemployment, selective inflation, selective deflation, paralyzed government with ideologue politicians, deficit issues, and the full range mess the standard diet.

Reuters: Earnings calls wake up to Wall Street pain

Intense fear that global debt issues and stagnant growth cannot be resolved has pummeled market confidence in the past couple of months.


Over the last few weeks, analysts have cut earnings estimates for S&P 500 companies across all sectors except technology.


On Thursday, the government will release its final reading on growth of second-quarter gross domestic product. On Friday, August personal income and spending data will come out...