Posted on 08/04/2009 6:28:57 AM PDT by fiscon1
Markets continued their drive upwards yesterday. The S&P index crossed over 1000 yesterday. The NASDAQ moved above 2000 and the Dow moved above 9200. Indices are down this morning. There is breaking economic data. Consumer spending was up .4% (inflation adjusted .1%) while income fell 1.3% in June. The data is out just in the last ten minutes and so it's difficult to guage just what effect it will have on the markets. Pending home sales for June will be out at 9 AM Central time. The consensus has .6% gain.
(Excerpt) Read more at theeprovocateur.blogspot.com ...
Welcome to the next bubble.
Hmm. Spending up, income down. Sounds like the “just one more hit off of the bong before I quit for good” economic strategy is working.
No kidding and I have no idea why people are expecting a big recovery, not that I wouldn’t be pleased if it happened.
Don’t “bogart” that financial bong...dude.
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