The better ISM Mfg Index was better than expected (511.6 vs 50.5 and prior 50.6) meaning there's growth but it's mild. Investors' concerns are still from the euro zone with contagion fears spreading to U.S. banks. How much exposure they have is the big question. This is what centrally planned economies offer--failures to address problems honestly, quickly and putting them in the rear view mirror. So what we have instead is BS and a lot of it. Transparency is missing and even as difficult as the truth may be sometimes it's just better to get it all over with and move on. Protecting losers is a poor strategy and policy.
Keynesian policies have failed and perhaps are just corrupted by the political process and cycle not to mention undue influence from Wall Street.
As of Monday, the major indexes are only a few points away from bear market territory with lesser indexes and sectors already in bear markets. That's the way it is period.
Let's see what happens.
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