The Market On Thursday

Good morning. It is 67 degrees and rainy here in Upstate NY. The warmth is back but the rain continues with the forecast showing way more rainy days than sun logos. We are the new Seattle. I must admit to feeling a certain wretchedness surrounding the execution of Troy Davis and the neo-Nazi guy in Texas, both occurred last night. As I grow older my conviction about the death penalty decreases and I have to admit to being mostly opposed to the death penalty at this point. It is brutal, seriously it is the ultimate brutality. I would like to see our society do a better job of identifying the characteristics that cause people to murder and be violent and somehow with this great overwhelming population and variety of economic strata to somehow appease the need for violence, cure it as it were. Hey I can dream here.

At 8:20 a.m. futures are significantly down, oil is down over $3 a barrel, and the dollar is mostly up.

The market is destined to open with a major thud. We are sinking and the possibility of the DOW dropping 500 points or more in two days, yesterday and today, is very real. That is something to take note of.

Investors are displeased with the Feds 'Operation Twist.' The concern is that it will not boost the economy just keep it stagnant. The Tea Party must be applauding because in Tea Party world the worse it gets the better.

In addition Europe is producing less manufactured products and all is pointing to the Eurozone re-entering another recession.

I have said all along that I believe we are headed into another recession as well, and I am still not backing down. Now I am not an economist or any kind of authority, I am just an observer so my words are practically meaningless in the greater context.

CNN: U.S. stocks set to slide after global sell-off

"These measures (Operation Twist) can't make the economy worse, but neither, we think, will they make things much better..."


..."significant downside risks to the economic outlook, including strains in global financial markets"...


..."provides the strongest sign yet that the region (Europe) is on the cusp of recession..."


Oil for November delivery slipped $3.28 to $82.64 a barrel.