The Recession is Over

The Recession is Over

cnbc_logo“The recession is over” is the screaming on CNBC today. The markets closed at the highs today following a dramatic run up Monday due to the expected returns of the criminals at Goldman Sachs. We are running on empty folks. There is no other way to broach the fiscal subject. Data showed June retail sales rose more than forecast, but a big part of that gain was due to rising gasoline prices. Excluding autos and gas sales, retail sales registered a fourth consecutive monthly decline. “The consumer remains extremely weak and that’s the biggest headwind we face, in terms of the economy picking up steam,” said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut. I’m with this dude.

Consumer spending accounts for 70% of your country’s economy. Answer me this “Are you spending like you did 2 years ago?” Subject closed. The internal weakness in the markets is frightening. They traded sideways today with no volume expect for insider and corporate selling. Here are Tuesday’s stats… The Dow Jones industrial average .DJI was up 27.81 points, or 0.33 percent, to end unofficially at 8,359.49. The Standard & Poor’s 500 Index .SPX was up 4.78 points, or 0.53 percent, to finish unofficially at 905.83. The Nasdaq Composite Index .IXIC was up 6.52 points, or 0.36 percent, to close unofficially at 1,799.73. Think about getting out of the way for the exits. Be very nimble.

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