I just can’t seem to get going today. My trades are flat, the market is soft, the morning sky is gloomy, and the news is leaving little to complain about, although I can always find some piece of news that just blows my mind. I must admit, the piece I chose today is a bit of a disappointment coming from Reuters News, which means you can find this article anywhere.
- Four out of 5 U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.
Okay, let me get this straight. Some 80% of America utilizes government money to some extent in their lives and, as well, they have trouble finding work? Does the data set supporting this conclusion include retirees on Social security, military retirees, and those who have received any kind of Medicare reimbursement? Just asking …
Wow! I just didn’t know life in America was so bad. How could I have missed this “reality?” I guess the $16 trillion US economy is completely about, well, let me see, joblessness, welfare, and a completely dissatisfied American public, which is the gist of the article that AP put out there as news. Sorry folks, I ain’t buying it.
What I am buying, though, is more opportunity in the market, because there is plenty now and more on the way. The market is headed higher.
- With results in from more than half of the S&P 500 companies, 67.2 percent have beaten earnings expectations …
Again, earnings are winning the day. Again, the hilltop screamers are wrong. Just look up. The sky is still above us. All is just right in earnings land.
- – in line with the 67 percent average beat over the last four quarters.
In fact, earnings are better than “just right.” They are actually better than they were the last time around, as are revenues.
- About 56 percent of the companies have beaten revenue expectations, more than the 48 percent of revenue beats in the past four earnings seasons.
Somehow, some way, despite an America so far in decline almost everyone is desperately seeking a job or needs a handout from government, American businesses are making money. I guess the reason is the European consumer, where the average unemployment rate is about 13%, or the Chinese consumer existing in an economy that, like America, is in a free fall descent. I guess the answer to this conundrum is found in a lofty intellectual place, because I just can’t figure it out.
I guess I need some good news to remind me that life in America is not so bad, that I, and I suspect million upon millions upon millions of others, have it pretty good here in this country.
- JPMorgan Chase & Co agreed on Tuesday to pay $410 million to settle allegations of power market manipulation in California and the Midwest, the latest in a series of high-profile inquiries by U.S. federal energy regulators.
The above is a bit of a double-edged sword. On the one hand, the fact that JP Morgan took a hit and, to a degree, has been forced out of the commodities market for malevolent and greedy behavior makes me happy.
On the other, the breathless media reporting a potential market collapse ala 1987 and a wild-eyed news article from Reuters about how bad off America really is makes me sad. For a moment, try to imagine world where the media spent its time investigating malfeasance and reporting on that as headline news, rather than reporting sensational nonsense. A fella can dream, right?
Anyway, here is a thought for your consideration. The take-away point here is that the market exists because at any given time, folks are lining up on either side of the buy-sell equation. The excerpt below says just that in an interesting and tidy way and it leads to a question.
- Of all the investment opportunities that exist in the world, few can claim to have the devoted fan base that gold seems to enjoy. And yet, for all its appeal with the so-called gold bugs, this precious metal has nearly as many skeptics, who never pass up an opportunity to trash the virtues of owning expensive rock.
So, do you want to go out and buy some gold, or do you want to sell what you have? To decide, ask yourself: Is the American economy doing okay based on corporate earnings or is it doomed because so many of us are struggling to find a job and so many of us need a government handout? Yup … That is the question, all right …
Trade in the day; Invest in your life …
