It's Not All Bad
At 12:10 p.m. EDT)
This market sure has a lot going against it these days. I don't want to be too much of a drag, but let's review a few of the more recent downers.
We'll start with the big rally in the past two months. Great rebound. Still, we have to wonder how much longer
that can go. As of last Friday, the
Dow was up some 30% since March 9.
Then we have more
every day. Anybody not doing a secondary?
Economic data, generally speaking, haven't been much to cheer about, even if they're of the less-bad variety. The latest included word that
were up again, staying well above 600,000.
Plus, we hear that Washington is looking at
greater control on bank pay
, and not just for aid recipients. Wall Street doesn't care much for that. Not sure any of us should want to go
too far in that direction
If that's not enough, we have talk that Uncle Sam might lose that long-held and highly coveted
. Say it ain't so.
, the Nobel Prize winner for economics, is continuing his rain-on-the parade tour. From
: "The world as a whole looks quite a lot like Japan during its lost decade. I am very optimistic about the world in, let's say, 2030; it's the next ten years or so that have me worried."
Seriously? 2030? Fine, let's just throw in the towel on the next 10 years. Or so.
The things I've mentioned here are only a handful of the bad that remains out there. Plenty ails this economy, no doubt about it. So it was hardly a surprise when futures were indicating ahead of the open this morning that