The rally might have had something to do with the release of the Fed meeting minutes for last month which included this downright supportive of low interest rates for a while longer:
In their discussion of monetary policy for the period
ahead, members judged that information received since
the FOMC met in July indicated that economic activity
was expanding at a moderate pace. Household spending
appeared to be rising moderately, and business fixed investment
was advancing, while the recovery in the housing
sector remained slow. Fiscal policy was restraining
economic growth, although the extent of restraint was
diminishing and would soon be quite small. Inflation
was running below the Committee’s longer-run objective,
but longer-term inflation expectations were stable.
Futures have turned negative this morning, but Marty Zweig’s old saying is more true today than ever: Don’t fight the Fed..
St. Louis Shooting: An Excuse to Riot?
While Ferguson echoes continues, an off-duty police officer shooting and killing a suspect in St. Louis last night, should reveal some interesting results.
The suspect, according to reports, had struggled with the officer, ran up a hill and fired three shots with a 9 MM Ruger at the officer, who then returned fire and killed the suspect.
Police have been very clear in their version of the story – gun recovered and such. But people are saying it was only a sandwich and making talk.
While we await details, the media’s got reports flowing about people in the streets. And the unanswered question (at least so far) is whether people in St. Louis will go Ferguson over this or whether cooler heads will prevail…or at least wait for additional facts.
Headlines like “Cop Shoots Teen in St. Louis” will no doubt produce website hits, but will they actually serve justice?
The decisive word-use is the word “TEEN.”
In St. Louis, the man was 18 which is an adult in most ways. So watch the media closely. Some sites, like Russia Today use phrasing like “’Armed’ teen” while others (CTV, Canada) label the dead person as an “18-year old man” s
Seems to me that the turn of a phrase could impact business insurance rates to come if St. Louis lights offs like Ferguson. And the smallest word use can sometimes tip events when emotions run high.
Will airport temp screenings work? Not if people are smart enough to take drugs during their plane rides, I suppose. Nevertheless, the NY Times reports this morning that the Feds are trying to stem panic about Ebola. One dead and one showing symptoms in Dallas, if you’re keeping score. Many more – 48 – are being watched.
Some of the people who clean the airplane interiors between flights at La Guardia NYC are striking. They don’t want to get you-know-what.
And under the cover of everyone being distracted, we note that the Washington Cartel is now dumping illegals in New Mexico at an even faster rate.
Seems obvious to us that the Obama Administration is trying to rewrite the history of the Mexican-American War.
They didn’t like the outcome, maybe?
(a short column this morning due to the Peoplenomics update)