The US economic data this morning was pretty much lackluster.
Tomorrow is the big Non-Farm Payrolls report. I’ll save any speculation about it until we see the numbers.
Stocks were off in part in sympathy with markets in Europe.
A couple of internet IPOs on the Frankfurt exchange, Rocket Internet and Zalando, came out this week and then flopped in the after trade over ten percent. No one does lipstick better than the NYSE, I’ll give them that. People are wondering if the internet miracle story is getting a bit thin.
Speaking of getting a bit thin, President Obama was giving a pep talk at an outpost among the indigenous peoples of the US at Northwestern University today. He presented a laundry list of his accomplishments, and went on to say:
“I am not on the ballot this fall. Michelle’s pretty happy about that. But make no mistake: these policies are on the ballot. Every single one of them.”
I am sure the Republican Party was doing cartwheels over that one. The economy is widely perceived as failing the great bulk of the American people, serving corporations and the wealthiest few, and rightly so.
By underscoring the role that his policies have had by commission and omission, and making the midterm elections a referendum on his policies, Obama did more good for the political opposition than even his tone deaf, aloof self probably realizes.
This post was published at Jesses Crossroads Cafe on 02 OCTOBER 2014.