The Market On Wednesday
Good morning. It is 63 degrees and sunny here in Upstate NY. The logo has us going up near 90 today and mid 90's tomorrow and Friday. It's going to be hot. I don't know how the people out in Las Vegas can handle it. They have temperatures out there of 111 and 113 degrees regularly, it's with low humidity but still I couldn't take it. I'd have to live in a pool. I am not a fan of air conditioning either, but I do like fans. Hold on to your hats because the overall carbon emissions are not easing one tiny little bit, nope. We are pumping the atmosphere full and we will be baking ourselves in a greenhouse oven.
At 8:15 a.m. futures are moderately higher, the dollar is lower against major world currencies, and the price of oil is down per barrel. The market is poised to open higher.
Investors are pleased to see that Spain will be instituting austerity measures to cut its debt. Spain will do this by raising taxes and by (naturally) cutting out publicly held institutions, leaving a huge hole for private business to move in. And this is a good thing?
Commentary: Follow the movement of the market's indexes for a while. You will find that investors react very quickly to salient economic news occurring in the world. Example, today, where Spain comes forth with austerity measures and investors are pleased, futures are up. Let's point our attention at China. China is the darling. China's dramatic 10% yearly growth has investors drooling at the opportunity for growing wealth. They want that to continue and when China slightly buckles global economic failings come forward. Yet let's try to remember that China is building a new coal based power plant practically every other minute. There's the rub - the carbon emissions from the coal plants are cooking us in a greenhouse yet the world financial vortex AKA Wall Street wants this to occur for the previously stated reasons. Plus there's no time to stop, no time to work out the problems and think about humanity's future in all of this. I hate to say this but thinking about this lightly right here, right this second, our only hope is a massive global economic slowdown. How else can this mega-mess stop? You tell me. We are fooling ourselves thinking that - oh it will get better - flash: it ain't getting better, just the opposite, it's getting worse as the carbon emissions are increasing.
CNN: Stocks: Satisfaction with Spanish austerity
At 8:15 a.m. futures are moderately higher, the dollar is lower against major world currencies, and the price of oil is down per barrel. The market is poised to open higher.
Investors are pleased to see that Spain will be instituting austerity measures to cut its debt. Spain will do this by raising taxes and by (naturally) cutting out publicly held institutions, leaving a huge hole for private business to move in. And this is a good thing?
Commentary: Follow the movement of the market's indexes for a while. You will find that investors react very quickly to salient economic news occurring in the world. Example, today, where Spain comes forth with austerity measures and investors are pleased, futures are up. Let's point our attention at China. China is the darling. China's dramatic 10% yearly growth has investors drooling at the opportunity for growing wealth. They want that to continue and when China slightly buckles global economic failings come forward. Yet let's try to remember that China is building a new coal based power plant practically every other minute. There's the rub - the carbon emissions from the coal plants are cooking us in a greenhouse yet the world financial vortex AKA Wall Street wants this to occur for the previously stated reasons. Plus there's no time to stop, no time to work out the problems and think about humanity's future in all of this. I hate to say this but thinking about this lightly right here, right this second, our only hope is a massive global economic slowdown. How else can this mega-mess stop? You tell me. We are fooling ourselves thinking that - oh it will get better - flash: it ain't getting better, just the opposite, it's getting worse as the carbon emissions are increasing.
CNN: Stocks: Satisfaction with Spanish austerity
Prime Minister Mariano Rajoy (Spain) said the country would cut €65 billion in less than three years by reducing government and raising taxes.
The government will release data on the trade deficit at 8:30 a.m. ET and wholesale inventories at 10 a.m. ET.
The Federal Reserve will release its minutes at 2 p.m. ET.
posted by Sande at
8:31 AM
3 Comments:
It appears were going to go off the Climate cliff at full speed ahead and with all 8 cylinders screaming, picture the scene in the movie classic "Thelma and Louise" for a pretty good idea of where were going and soon.
You know the world will continue - maybe without people - eventually things will evolve.
The Earth is maybe 5 bil. yrs. old, so it will abide, as they say. The Human race in it's various manifestations, is maybe 5 mil. yrs. old and has been through many extinction bottlenecks and continued to evolve. I expect a certain number of our species will manage to survive even this coming catastrophe. You can bet though by 2212 it will be a tiny number by today's standards and living on a very different Planet then the one we now in habitat. No thanks to us.
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