- It's Tea Party Wednesday, and the market reverses course late session to close positive for the day. From Yahoo Finance, A late surge of buying interest was accompanied by a spike in trading volume, which helped all three major indices finish at their session highs. The buying effort was largely focused on financial stocks.
- The market needs financial stocks to improve. Good to see that.
- I want to stop by the tea party here, but have been too busy to get downtown. I think folks realize that all of this spending using borrowed money will eventually lead to higher taxes down the road. Maybe higher inflation, too. Fiscal sanity, please.
- I don't think we're going to get fiscal sanity anytime soon, though. Commodities! (Yo, Jim Rogers.)
- The best place for tea party news? Yeah, Fox. Quite an interactive community they've set up there. The other news websites seem to be minimizing the nationwide event. (And they wonder why people turn to Fox).
- CPI fell. Consumer prices dipped unexpectedly in March, leaving prices over the past year falling at the fastest clip in more than a half-century. The recession is expected to keep a lid on inflation as widespread layoffs dampen wage pressures and weak demand keeps companies from raising prices.
- That's looking in the rear-view mirror. I think things are better than that looking forward. Of course, that won't show up in the headline news until after the fact and inflation is here...
