Good morning. It is 65 degrees and sunny here in Upstate NY. It looks like we are in for a gorgeous summer day. I hope your weekend was good, you got plenty of rest, and ate lots of great food. Speaking of food, the AP report from yesterday which shows damning news about the real wealth of Americans has people talking. A lot more people experience poverty than is reported. This is not surprising but I do like the fact that people are at least identifying what is there, what is obvious. Hey, I live in a middle class area and I'm under budgetary constraints all the time. It's not really a fluffy joyride. I'm fortunate in that I'm not out on the street but travel 5 to 10 miles from here into Albany and many are, the impoverishment is felt, seen, and it's debilitating. I'm not seeing anything in plain sight that's going to alleviate this mess, nothing in the economy indicates a change for the better, the tumble will continue. The right is having a field day with it in terms of blaming Obama. Fundamentally the problem is right wing policies that are implemented by both Democrats and Republicans. Turning all the wealth over to the richest people does not produce a trickle down effect, just the opposite occurs, the spigot is closed, nothing is dripping. The right wing's solution - ban abortion.
At 8:15 a.m. futures are modestly down and the price of oil per barrel is up. The market is poised to open in the lower to mixed area.
Second quarter corporate reports are the order of the day. Beyond that, there is the very important government data on employment for the month of July which we will be hearing about on Friday. That's an important report and the week is already biased towards that report, we are in waiting mode.
CNN:
Stocks: Investors wait for earnings
Asian markets ended in the red...
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