The Dow is likely to go up today…maybe 50-points or so, and there’s not too much news – nor should there be too much traffic, since this is a kind of semi-holiday, being Columbus Day. We tackle this holiday in some depth in our “Coping Section” which is longer and more researched than usual today. Why? Because nothing much on the economic front is changing.
For one thing, being a federal holiday, we won’t be flooded with federal statistics. We get back into that tomorrow when the FOMC minutes are released.
There is some possible interest in the trading session, since this is the day Anonymous has threatened to turn off the stock market, but there’s been a lot of money and research done in order to make it robust, so we’ll just take a gander but won’t be too surprised if nothing much gets disrupted.
The most interesting song and dance act of the morning features the international favorite series “Dancing with the Clowns” featuring Germany’s Angela Merkel and French president Nicolas Sarkozy.
The reason I’m so skeptical is that they are releasing no details of their much-hyped agreement which is likely to try and spread as much pain as far and wide as possible.
Strategically this gets to be a fun exercise to watch. We hear from sources that German code-writers are working on porting bank and ATM code to a Deutsche mark and in fact there have been some recent polls our that show more than half of Germans would like to bring back the D-mark.
Despite the song and dance which the MSM blindly parrots, the fact is that there’s another strike in Greece today, that country has had to activate a bailout for Proton Bank, and the health of people in Greece is suffering due to austerity measures.
So is it time to rally? No, but that doesn’t seem to stop folks. Just like drinking and driving usually ends up badly, so does printing money, but sure is fun till the blue lights and sirens go off, isn’t it?
To sum up the weekend then? Let’s just call it another Merkel-jerk.
Defending the Paradigm
But, seems to me, Cain’s playing into the hands of the UP/Down party while ostensibly selling a right/left perspective. In order for general wages to go up, might help to have some innovation and new technology which has mass appeal and huge growth potential. Otherwise, the core problem keeps turning back to consumer market super-saturation and no one is talking about that one.
(Or prison-made in the USA products, either, and yes, come to think of it there’s a whole lot not being talked about by the wannabes…)
Flames of Egypt
An Iranian actress is getting a year in jail and 90 lashes…crime was being in a movie which lacked government/.mullah approval.
Speaking of religious items, did you see where four Amish mention have been busted over attacks on fellow Amish that involved cutting off their beards and hair?
Duck – Again
Another satellite is due to come down – ROSAT was a German x-ray telescope and it’s a biggie – about 2½ tons worth.
The good news? Oh….um…. only 1.6 tons are expected to reach the earth’s surface?
More after this…