Well, actually it was mostly down but just like you expect in a Rigged, manipulated con game, the Dow went up 100 pts in the last 10-15minutes of the trading day to cut losses and close at 11,139 (-100)
The 'glass is half full' sunny optimist would take great comfort in the upswing and believe the economy is just fine, while the 'glass is where it is' realist would know that the optimist is delusional.
But we certainly don't wish to sway you as to which way the stock market and economy is headed so we're going to provide some Positive & Optimistic headlines, and some Realistic or Negative ones so you the reader can decide which way the proverbial 'winds' are blowing...
First.. the Optimistic from today:
Back-To-School Sales Show Consumers Are Still Spending (CNBC)
Macy's Sales Rise (Zack's)
Service firms grew at slightly faster pace (AP)
Now today's Realistic/Pessimistic:
Post Office is nearing default as losses mount (NY Times) -- "The agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances."
More Bad News on Jobs: Stores Trim Holiday Hiring (AP) -- "Although the vast majority of retailers - some 68 percent - plan on keeping holiday hiring at roughly the same level as last year, a quarter expect to trim hiring plans for seasonal workers.. That's a greater number than last year, when 17 percent (surveyed) said they would scale back hiring."
Small Businesses are More Pessimistic than Ever (Yahoo! Financial) -- "Two main issues are the root of the pessimism: 1) Small business owners can't grow their businesses due to a lack of demand. 2) And for those small businesses that do want to grow, they cannot find funding."
World Bank's Zoellick Says World in ‘Dangerous’ Time (Bloomberg) -- "World Bank President Robert Zoellick indicates that risks to the global economy are intensifying"
So you make the call: glass half full or half empty?
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