PRE MARKET

Futures up after yesterday last minute dump. Lots of talk about Trump/Congress and the inability to get the big stuff done. Time will tell.

For a change, gaps to the upside in some RETAIL that has been smoked…DLTR,GES,PVH,SIG,WSM.

And let me throw some cold water on something you are reading today. There is a story that world growth doing better with some places accelerating. To be clear…after 8 years of 0% rates….negative rates…THE PRINTING OF OVER $20 TRILLION in order to raise asset prices…we should be at 10% growth. The problem going out longer term is that all this easy money has taken debt around the globe to unimaginable numbers. The $20 trillion of debt is not even talked about in this country. No one cares. Raising the debt ceiling is the norm…and the threat of not raising the debt is supposed to be a bad thing. Sorry…it’s supposed to be the other way. Continued expansion of debt is a bad thing. It is a headwind. It is a sin. Why do you think they all had to print over $20 trillion? We do not know from what point and what day the day of reckoning does come. We just know we cannot continue this trajectory. $435 billion of our taxpayer dollars went into the toilet last year just to pay the interest on the debt all the Morlocks created.