The notion that "consumers are spending" may be a bit optimistic.
The BETTER OFF consumers may be spending a little bit more during the holidays;
But the average Joe and Jane SixPack consumer is probably going to cut back. The census data, in the link below, seems to "favor the rich," or at least the better off consumer.
And, remember all the consumer arrows are pointing down for '05. Rates, Jobs, Housing, Debt, etc.
The holiday GAS PRICE cut at the pump is welcome!
Gas is 20 or 30 cents under the last big spike a few weeks ago.
So, I suppose instead of going "over the river and through the woods" to grandma's house; most of us can now afford to STAY ON THE INTERSTATE!
The People Soft/Oracle merger was probably a marriage of necessity; as SAP is seriously eating their lunch in the large company data base management arena.
But, just because two second tier companies decide to merge, what's that got to do with the rest of the market? Shades of Sears/KMart?
Anyway, tomorrow is always another down day.......perhaps.
And of course, there is the TRADITION of a PRE-FED MEETING RALLY to be considered!
The "Fed Rally" is a through-back to the Ole Bubble Daze when everyone bought stock the day before the G-Man lowered rates yet again to "feed the hungry hungry bubble!" Remember?
But, the G-Man is raising rates now, not lowering them?
Hey, I said it's a tradition! Traditions don't have to be rational. In fact, they work out a lot better if they're not.
And, since the BIG GOLD SELL-OFF worked it's PRACTICAL MAGIC yet again. I guess Mr G won't have to "GO 50" to save the dollar tomorrow?
But still,....there are a lot of strucrtual problems eating at the dollar these days!
And allthese stories of HAPPY EUROLANDERS coming to America to spend their ALL MIGHTY EUROs, is well,..........enough to put a wan and sickly smile an any American Economists face!
Goody for Euroland, spend it in America? We're really Cheap!.......I suppose?
Dubya's problems with his Homeland guy was rather odd.....I mean where was Cheney during all this?
Looks like Dubya plans a "do nothing" term for the next four years.
But for Dubya's main constituency: The Republican Rich?
----DOING NOTHING AND PRESERVING THE STATUS QUO ARE JUST A-OK!
THAT'S WHAT THEY "PAID FOR" DURING THE ELECTION!
THANK YOU VERY MUCH!
ALAS, THE RICH GET RICHER, AND THE POOR FIND JESUS!!
Now that's what I call: "Family Values!" BUSH FAMILY VALUES!
OK, if Dubya can screwup some legislation for additional REGRESSIVE TAXATION?
Fine. B ut no one's counting on it in the Republican Kamp!
THE LAMEST OF THE LAME DUCKS IS ABOUT THE START QUACKING!!
Are we ready for this?
Well, I do have a few "digressions" that I've been wanting to post.........hmmm......?
http://www.census.gov/svsd/www/advtable.html
