The Market On Friday

  Good morning. It is 63 degrees and sunny here in the Upper Hudson Valley, we are in for another perfect Summer day. Somebody must have waved the magic wand as the temperatures have been perfect for this human. I was watching some MSNBC last night as they recapped one of the many horrid failures of the Bush 2 administration in its non involvement in Katrina. As you know Obama was in New Orleans giving a speech on the 10th anniversary of the natural disaster. Did you happen to see the statement by 'Brownie' where he repeats the favorite GOP mantra - he says stop blaming me, people need to not rely on the government to save them from disasters. Idiot.

  At 8:50 a.m. ET futures are significantly lower and the price of oil per barrel is down. The market is poised to open lower.

  I hope you were buckled in because it has been a wild ride on the market this week, and it's not quite over yet. In my opinion ultimately it is the 3 day meeting by the Federal Reserve that holds a lot of answers. This is once again about the raise is the non existent basic interest rate. The global economy is having some fits right now, notice trouble in China - as we know, Japan, Brazil, Europe in general. The globe is under pressure.

CNN: U.S. stocks set for bumpy end to a wild week

The Shanghai index still suffered a 7.8% decline for the week.

Latin America's biggest economy (Brazil) slumped deep into recession in the second quarter.