And Now Back to the Stock Market

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Monday September 14, 2009 · 2:38 PM PDT

2009/09/14 · 14:38

It has been some time since a comment on the stock market and the state of the economy.

On the surface to many, including CNBC-type pundits and others with professional self-interest, most appears well in the stock market. We've experienced about a 50-percent move up since the March lows, with many stocks far exceeding that. Also on the surface to many, all appears to be on the mend in banking and even in housing in certain regions of the nation. Recent surveys show improvements in consumer confidence and yes, even manufacturing activity. Honestly, I forgot that we manufactured anything here except bad mortgages and creatively packaged financial derivatives products.

ClearTheMist

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Thursday September 10, 2009 · 12:59 PM PDT

2009/09/10 · 12:59

One thing is clear in the aftermath of President Obama's well-delivered (did we expect otherwise?) speech on health care reform before the September 9 Joint Session of Congress...oh yes, and the American people.

Insurance companies seem to have come out potential winners? The publicly trade stocks of all the health insurers, the usual suspects, are up today and up substantially. As of this writing, with less than one hour to go in today's trading session, the common stocks of Aetna, Cigna, United HealthGroup and Wellpoint are up, for the most part, between two- and five-percent. What does this suggest? That Wall Street expects to see higher profits and solid growth from these companies in the years to come, at least at first blush.

The health insurers may just have succeeded in getting the payoff they've been hoping for through their "investments" in Senators and Congresspersons.

They've been investing in a Golden Goose and it just might finally be paying off in the months to come.

ClearTheMist

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Friday September 04, 2009 · 9:49 AM PDT

2009/09/04 · 09:49

On Tuesday, September 8, President Obama, yes PRESIDENT Obama, not that "black guy occupying the White House," is giving a speech to elementary school students nationwide.

The subject? "The goal of the speech is to encourage students to set goals for themselves." This according to Heather Higginbottom, deputy director of the White House Domestic Policy Council. In addition, according to Higginbottom, "The whole lesson plan speaks to setting goals in increasing their educational achievement."

There IS "right." But it's clearly NOT the "right" of the Right. If this nation cannot rediscover its soul, if it cannot even make room for the President of the United States to have an inspiring conversation with elementary school children about their education, for cryin' out loud! What have we come to?

ClearTheMist

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Friday August 28, 2009 · 12:27 PM PDT

2009/08/28 · 12:27

Last evening, our son returned home to us from his 2nd tour in Iraq,

So now, once again, the transition to back to "real life" begins anew. How many times are we as Americans, not to mention all the other sons, daughters and families affected going to experience this event as a result of immoral and costly - in so many ways - military adventures!? Before we all stand up, at least those of us that are rational and not blinded by the mindless hatred and vitriol of the Right Wing?

Isn't it time, really time, that we force the folks that we elected to stand up?

ClearTheMist

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Saturday August 22, 2009 · 9:48 AM PDT

2009/08/22 · 09:48

Get it together, Mr. President!

Unless you begin to honor your commitments to the majority that elected you, not to mention the 70+% of Americans that are demanding a "public option" in health care reform, you will lose our support for your administration and leadership - or lack thereof.

ClearTheMist

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Monday August 17, 2009 · 3:39 PM PDT

2009/08/17 · 15:39

Every day that goes by without you honoring your promise to the American people regarding a public option in health care reform is a day that will increase the American people's dissatisfaction with you.

I have read the proposed legislation in both the House and the Senate. Honestly, why does this have to be hundreds, and in the case of the House, over a thousand pages of legislation? Mr. President, you need to keep it simple, yes so that even conservatives in both parties can understand it.

ClearTheMist

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Thursday August 06, 2009 · 11:16 AM PDT

2009/08/06 · 11:16

I can't say I have been overwhelmed by comments in various venues in which "Clear The Mist" posts appear. But perhaps I can. And so sadly, it seems that irrational thinkers, people that simply cannot think "out of the box" or act from a place of compassion balanced with some degree of practicality, can too easily overwhelm real democratic speech and social progress.

To the lobbying firms, and those that have hired them, that have been organizing the fascist brown shirt thugs that believe more in disrupting democratic town hall meetings rather than engaging in rational discourse, you won't succeed in turning the United States into 1930s/40s Italy or Germany - unless we fail to take their threat to our freedoms seriously, take a stand and say "ENOUGH!"

ClearTheMist

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Monday August 03, 2009 · 9:31 AM PDT

2009/08/03 · 09:31

Well it did not take a recent week of well-needed vacation for this commentator to crystallize his concern about the politics/policies of the Obama administration, the lack of leadership and backbone of the Democratic Party, generally, and the need for substantial reform.

So on Sunday, National Economic Council Director Lawrence Summers suggested that a middle-class tax increase might not be out of the question as part of a solution to reduce the enormous projected federal budget deficits. Really! This after then Senator Obama campaigned so strongly against it during his White House run? Are we receiving mixed signals here? Or are lobbyists for the wealthiest two-percent of Americans and their corporate bosses once again winning the "Battle of Backbone" when it comes to formulating policies that will lead the way for perhaps decades to come?

There is genuine concern among many economists and analysts, including yours truly, that we may see a "double dip" recession. Assuming that we have seen a bottom in terms of manufacturing activity and production generally, having avoided a general collapse of the nation's financial system - for which I largely credit bold action by the Obama administration - we just may not be out of the woods. This should not come as new news to anyone.

Dangers may be ahead.

ClearTheMist

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Monday March 23, 2009 · 2:04 PM PDT

2009/03/23 · 14:04

February 19, 2008...."A reasonable person cannot simply abandon equities. Once the market turns, it will turn with a vengeance." - Clear The Mist

Don't get too excited yet. Equities indices remain close to 50 percent below their 2007 peaks and all-time highs. So if you think the train has pulled away from the station, or the space shuttle has already zoomed away, relax.

ClearTheMist

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Monday March 02, 2009 · 12:30 PM PST

2009/03/02 · 12:30

So alright. On February 19, I reiterated my commentary regarding yet deeper declines in the stock market. So, sadly, this morning's decline to lows not seen 1997 is no surprise...

For years, I've retained a yellowing newspaper article in my desk. Dated July 3, 1998, it's an Associated Press story titled "Study: Blunders kill new airlines."...

ClearTheMist

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Thursday February 19, 2009 · 4:54 PM PST

2009/02/19 · 16:54

Today, the Dow Jones Industrials Average (DJIA) fell decisively through its November 2008 low, reaching its lowest level since October 2002. The broader S&P500 Index is not far behind, though it has yet to test the November 2008 low. Don't bank on that one holding much longer.

For what it is worth, Merrill Lynch has revised its estimate of earnings for the S&P500 down to $42 for 2009. The most pessimistic Wall Streeters that make their livings guessing about such things have been comfy cozy with $60 - $70, as have I.

ClearTheMist

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Thursday February 12, 2009 · 3:02 PM PST

2009/02/12 · 15:02

First the stock market...

After the stock market stumbled to the best test yet of the late November 2008 lows, traders experienced a major bounce off today's lows to close largely even for the day. If you're a technician, however, the afternoon bounce wasn't all that significant, with still substantial volume in the day's declining stocks. Yes, the technology-heavy NASDAQ market saw a much greater proportion of its volume in higher trading stocks. However, this is all "technical stuff" and reflects less the current or even future status of the economy.

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And Now Back to the Stock Market

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