And now for some Monday morning poetry with the Chairman of the Fermentation Committee.
From Art Cashin, via UBS Financial Services
On this day in 1888, the classic American poem on American culture was published.
No it was not "Hiawatha" or "Thanatopsies" or any of those myriad other things you wrestled with in high school......or where-ever.
Rather it was a clear cut epic of hope, frustration, fear, hope, and despair. Or if your learning was gleaned among Greek Classicists who frequent saloons (usually on a stool near the shuffleboard machine) you might say, - - inspiration, anxiety, desperation, rebirth, hubris, predestination and theocratic resolution.
The grand poet's name was Ernest Lawrence Thayer. And he titled his epic "Casey at the Bat". America immediately grasped the national and metaphysical essence of the work and placed it in their hearts forever. And why not? It is the tale of people vesting all their hopes in one man - - someone who can change things dramatically by the sheer force of his talent.
To celebrate, call the 800 number of each of the Federal Reserve Governors and recite the epic's last stanza.
"Somewhere in this favored land
the sun is shining bright
A band is playing somewhere
and somewhere hearts are light
Somewhere men are laughing
and somewhere children shout
But there is no joy in Mudville
Mighty Casey............."
Best to leave off the last line until after we hear the Bernanke testimony, Thursday.
Investors could empathize with the distraught residents of Mudville on Friday as poor payroll data sent the bulls to the showers early.