Summer comes to an end

To me, Labor Day was always a landmark event.  It marked the end of summer a time when everything seems to slow down and the beginning of getting back to business.  This past summer has been anything but dull.  Major entertainment and political figures passed-on prompting round the clock media coverage mostly aimed at rewriting history about some pretty awful, if famous, people.  Then of course, we have had to witness the spectacle of fat, stupid people yelling and screening at so-called town hall meetings.  Meanwhile, the usually cool Obama looks like a deer caught in the head lights,  In sum, the political atmosphere in this country took a decidedly horrible turn for the worse this summer.  As for the economy, some say it's improving.  Some of the numbers are encouraging.  However, I don't buy it for a second.  Consumers are still (rightfully so) being very cautious in spending with the employment situation continuing to be poor.  Many folkss I know are still afraid to extend themselves because they fear they may lose their jobs.  Notwithstanding all these problems the stock market has has a wonderful summer.  Stocks in general are near the highest level of nearly a year.  Readers know that I've been very negative on the general market.  I've been wrong through the summer.  Still, I remain convinced that stock prices are heading significantly lower in the weeks ahead as it becomes more evident that the economy is far from recovery and investors got a little bit too enthusiastic too soon. 

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