Shining Little Glimmers of Hope

What a difference a day makes on Wall Street. The markets are enjoying a nice boost today after orders from durable goods increased by 1.3% in July. I know it doesn't seem like the percentage of increase that would cause the masses to run wild, but hey, I've seen mobs go crazy for less. It seems as if demand for commercial aircraft led the charge, but I don't want to take anything away from its teammates, cars, appliances and machinery. After all, it takes everyone’s contribution to win! We will just award commercial aircraft with this month's MVP award to make it fair.

Durable goods don't get all the glory for today's surge on Wall Street, however. No, No. Fannie & Freddie's (you know, your cousins from down yonder) shares have climbed for 3rd straight day. This turn of events is the direct result of investors feeling an eminent government buyout is no longer a threat. Also, it seems as though country club women are still looking fancy, as Talbot's raised its forecast for 2008. Not to be outdone, Chico's price rose when they beat Wall Streets profit expectation. This is what I like to call the Michael Phelps Mom effect. See, she loves herself some Chico's and even sported their wares throughout the Olympic Games. Finally, the news most near & dear to my heart. Mortgage applications rose slightly last week. Yes, I can attest to this fact. I have been doing crazy numbers of pre-qualification applications. You heard me correctly, pre-qualifications. I live in constant fear they will never turn into real deals, until I see the little glimmer of hope. Follow the shiny object & believe a recovery is just around the corner. It's all I have; please don't take my glittery hope away!

Just because I sound all giddy, does not mean there was not some worrisome news today. US Thrifts (federally insured savings & loan institutes) lost $5.4 Billion in the 2nd quarter. The NY Attorney General is investigating whether there was any foul play in the relationship between Fidelity and Goldman Sachs. They are making sure no incentives were given to Fidelity to sell auction-rate securities. I sure hope not, I am growing a little weary of scandals in the financial world. Oh, and Gustav is still rearing his ugly head, making oil prices climb to $117.80/barrel.

The biggest bummer of all is the delays incurred by numerous airline passengers yesterday. It seems as though the FAA had a little software malfunction. Comforting, right? I say Hell, you say No. HELL NO! When I think of a malfunctioning in the FAA, I think of smoky control rooms, where men in thick rimmed glasses are allowing planes to take off at the same time, nearly crashing! It is kind of like my worst nightmare, but I digress. Hopefully this little "malfunction" will result in a wee bit of updating in the ol' control rooms. 1970's, OUT! 21st Century, IN!

Speaking of old and outdated, archeologists in Peru found a preserved female mummy, along with the remains of 2 other adults and a child, in Huaca Pucllana. This mummy is thought to be from the Wari culture…pre-Inca's...and is likely from around 700 AD. Very cool.

Finally, we will move onto our celebrity corner. Somehow, politicians have become celebrities in their own right. Hillary Clinton brought down the house last night at the DNC, in fine fashion I may say. She spoke of uniting, blah, blah, blah, but you know she was getting a kick out of the crowd's adoration, thinking, "It should have been me!" Tonight is Bill "Slick Willie" Clinton's turn at the podium. God only knows what will come out of his mouth! I personally cannot wait! Breaking NEWS....after nearly 84 years on Earth, the original Playboy, Hugh Hefner, may be marrying his main girlfriend (as he clearly has 12). I will keep you posted. I say, don't believe the hype. I don't think Hugh will go down without a fight!