I ended up doing actual hard physical work Sunday, so I didn’t have time to run out the data that I told Peoplenomics readers would be important to get prior to investing in a potentially sharp rally in here.
However, since the market is gracefully providing a nice decline at the open this morning, I can run over to the office after breakfast and do a couple of hours of serious number crunching, which we will review on Wednesday for subscribers.
In the meantime, a reader was wondering what I thought of the latest description from a certain unnamed financial pundit that the End is Near.
Not to blow the bubble here, but this fellow hasn’t been particularly right in anticipating major moves and getting people out of the way. It’s been a mix of gold going to $3,000 any minute and stocks collapsing in a heap…
Neither of which is likely correct, although we sort of know that before Christmas we will slide under 1,850 and maybe touch 1,820 or even lower.
But that ain’t hardly a “world ender.”
We shall see, of course, over time. Remember, I’m the guy who has been saying Out to Cash or outright short since early July. Where, oh where, were these other oracles back then?
Data and Such
Personal income was up 1/2 of one percent in the latest reporting month according to new government figures out this morning. That is a little better than the consensus which was for a 4-10ths increase.
You’ll want to vape up before this part:
Personal saving — DPI less personal outlays — was $615.6 billion in August, compared with $623.6 billion in July. The personal saving rate — personal saving as a percentage of disposable personal income — was 4.6 percent, compared with 4.7 percent.
Still hasn’t solved the market’s jitters, futures down 100 on the Dow when I looked.
Tomorrow we get the monthly housing report from S&P/Case Shiller.
Which means a two part report – the first part at the regular time and the update about 8:20 Central with the new housing poop.
There’s also a worthwhile speech from one of the Fed governors today. Daniel Turullo was speaking in Paris this morning where he said…
My purpose today is not to offer specific proposals, or even a comprehensive conceptual framework, but instead to propose an approach for thinking about the purposes of capital regulation across types of financial intermediaries that will suggest appropriate starting points for shaping–or reshaping–applicable capital regulation. This seems to me a particularly important effort at a time when the financial system is undergoing significant change.
A very interesting topic – government regulation across different financial intermediaries…and you can read the whole thing here. (plan on one cup for this alone)
Eyes On O
The coyote-in-chief is speaking at the UN today. No doubt he will voice opinions that are a little different that what the majority of Americans believe in…but it’s his deal.
Meltdown of Europe
Hillary Plays Turns the Feminist Card
Oh, this is so crumby… in her latest email trying to raise money (like she doesn’t enough? GMAFB) my email delivered a “Dear Friend” pitch this morning pitches “first woman president”…
You mean Carly Fiorina?
But seriously: Inquiring minds want to know how Hillary can operate a huge email database and yet can’t seem to come clean on her email scandal. She’s been caught in more lies that half the GOP….well, maybe not that many…but close.
Magic, though, how she can find emails with money involved, ain’t it?
The Mitch Bitch Gets Loud
What is the tune here? Old Dough Got To Go…
A Gallup Poll says:
Click that for the link to the detail/drill down.
Meantime, we’re sitting around the decaf wondering which [sleazy] K Street outfit will hire John Boehner. But one thing’s for sure, he’s no gentlemen – called Ted Cruz a jackass.
I’d say Boehner ought to do a mirror check…and don’t let the door bump him on the butt on the way out.
Meantime, the soft-headed mainstream media have bought that the core value GOP shutdown of government over Planned Parenthood should really be reported (in a more honest way) as “Why do all the liberals want to give our Tax Money to Planned Parenthood when Obamacare fixed everything?” Right?
Water on Mars
My bet is water, but finding a back issue of Playboy on the planet, left behind by the TR3-B visitors would be of interest, too, I suppose.
Fear not, this is likely to be massively over-hyped since we knew the canals came from something.
Time to colonize Mars with robots?>