Good morning. It is 67 degrees and overcast here in the Upper Hudson Valley. Rain is expected. I have a new personal theory about the Tea Party. I've been studying conflict resolution and one approach to conflict is the confrontation. It's not the only approach, it's just one approach. Confrontation is a very direct energetic approach. It is also a very judgmental approach and when mixed with anger you have high judgment directed with high anger. The trouble is this approach provides no sense of perspective. The angry judgmental person usually cannot put themselves in the object of their anger's shoes so to speak. So the downside is a tremendous amount of stupidity because the totality of the enemy is overlooked with angry judgment raining down focused on a small percentage of the enemy. The Tea Party is the bottom end of confrontation. They are the angry judgmental party. They completely lack perspective, that fundamental quality of negotiation when we put ourselves in the shoes of the other and attempt to find a common goal resolution.
At 8:00 a.m. ET futures are modestly up and the price of oil per barrel is higher. The market is poised to open higher.
We are reading that China's economy grew at a strong pace in the second quarter and that this has fueled optimism among investors. Is this enough to push the market higher, well at least at the opening bell it is.
CNN:
Stocks: 4 things to know before the open
(China's) economy grew by 7.5% compared with the same period last year, despite continued worries about a slowdown in real estate. It was the first time the economy has accelerated in three quarters...
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