The Market On Monday

Good morning. It is 39 degrees and cloudy here in Upstate NY. We had a virtual heatwave on Sunday, I was out raking leaves in a t-shirt and so was everybody else. The new morning routine is all about out walking with the new puppy. I have to proudly report she is really learning how to enjoy a walk and how to behave on a leash. It takes time and patience to train a dog, but her enthusiasm is coming forward more and more each day. A neighbor brought over her older very mellow lab on Sunday so the new puppy could do some socializing. It seems to have worked. Part of training a dog is about building up the dog's confidence, and couldn't we all use a little bit of that too.

At 8:20 a.m. futures are significantly down, the dollar is up, and oil is down. The market is set to tank at the opening bell and that's the truth.

Apparently investors are appalled that the super committee cannot agree on any deficit reduction points. Seriously now, you would have to be living on an island isolated from everyone to think that mess would work out. The political polarization is beyond belief, nothing good can come from this. Lay the blame precisely on the arrogant little wooden heads of the Tea Party.

Then there's the growing Eurozone crisis which is destined to hit a bigger fan, and then an even bigger fan.

CNN: Stocks poised for 'sea of red'

The deadline for the 12-member super committee to agree on a debt reduction package of at least $1.2 trillion is Wednesday. But as early as Monday, the congressional debt committee is likely to admit failure.


Further turmoil is expected amid fears that the eurozone debt crisis has started spilling over to larger economies in Europe. Yields on Italian, Spanish and French government bonds have been rising...