Futures are positive heading into the open. I am watching for a small bounce at the open and then a slow drift back to the red. The more traders talk about this Mortgage plan for the irresponsible the more they are becoming up in arms. Alot of people are in houses that shouldn’t be there. Maybe I just won’t pay my mortgage because it is a moral hazard. UNREAL….Rick Santelli had a great comment this morning. If printing TRILLIONS of dollars is so easy and beneficial because we get .5% back then why don’t we just print a Trillion per day and hand it all out to every American and make .5% forever? Gold is holding above 981 as it consolidates here more than likely for the final push towards 1000.
CONTINUING U.S. JOBLESS CLAIMS RISE, JUST SHORT OF 5-MILLION MARK. First time claims for state unemployment benefits were unchanged at 627,000 for the week ending Feb. 14.
The trend continues to be more and more job losses. Where pre-tell is the tax revenue the government is gonna need for this spending bill going to come from when people are jobless?
Good Luck this morning
