The Personal Spending number this morning was ‘better than expected,’ and so stocks did as they were expected to do and rallied, a lot less than the stock touts on financial television would have you believe I must say.

The big tickle this week is speculation about what the FOMC will do in September.  Since the economy still suffers from a sucking chest wound of policy errors and malinvestment, we might, as well talk about when the Dr. Feelgoods of the Fed will come around with another shot of monetary morphine.  Too bad they are giving it to the wealthy patrons and their servants in the peanut gallery, instead of to the patient, although it does tend to dull the reporting on the status of the patient.

Non-Farm Payrolls on Friday.  It’s all about the Fed.

Have a pleasant evening.