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Austerity, Spending, And The Black Market In The Room: Spending new money is easy, taking money away from someone is hard, yet that is what needs to be done.

Via Peter Tchir of TF Market Advisors,

 

A dull morning with the Euro markets shut down.  Stock futures have meandered throughout the overnight session, trading up and down, but in a narrow range.  We get the ISM data and vehicles sales today.  It would be surprising if ISM didn’t disappoint, which means the market has already priced in a print lower than the expectations of 53 calculated by Bloomberg.  Vehicle sales will [...]