I never thought the economic performance of the stock market over the last few months was any sort of reality. I’m not exactly sure what it was, but I think people just really wanted it to go up. There just didn’t seem to be any fundamentals that could back it up.

Despite all the money the government has thrown at this problem, they have yet to address the problem of toxic acids. They’re still sitting on bank balance sheets. There are still huge amounts of foreclosures and prices have been dropping for homes. This is just the facts of everything happening during the rise in the stock market. I’m not an investor in markets I don’t understand.

Some information came out yesterday that showed things weren’t that great and might be far worse than everyone will expect.

The World Bank put out a worse than anticipated number on the contraction of the economy at 2.9%

Here is the other data that came out:

7:45 a.m. ICSC Chain Store Sales Index For June 20: Previous: -0.6%.
8:55 a.m. Redbook Retail Sales Index For June 20: Previous: -4.5%.
10:00 a.m. May Existing Home Sales: Expected: +2.6%. Previous: +2.9%.
10:00 a.m. June Richmond Fed Manufacturing Index: Previous: 4.
4:30 p.m. June 1 API Oil Industry Report
5:00 p.m. ABC/Wash Post Consumer Conf For June 20: Previous: -49.