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August 26, 2011     Post-Gazette
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August 26, 2011

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~mlUnllmJnllllB ~lBJllll]mlllll~|m Page 8 POST-GAZETTE, AUGUST 26, 2011 1tJ MIXED NEWS by Sal Giarratani ~ .... ~'~ Stocks were walloped on high frequently trading. As sales stalled in Germany, fast trades last week, as the indexes were down early and couldn't recover. The NASDAQ fell 5.2% while the NYSE and the S&P 500 fell 4.5%. Losses led win- ners by a 9-1 ratio as vol- ume was sharply higher with many elite names that took hard hits in high volume. They include Apple down 4%, down 7% and Chipolte, Netflix, Baidu, Green Mountain Coffee 11% and Zululemon Athletics down 9%. In recent days, the mar- ket showed worrisome trends price and volume action as gains were coming in declin- ing volume while losses were coming in rising volume. That's the opposite of what bulls like to see. On Friday most of the rebound seen in the previous seven days got wiped out. All industry groups fell, even tobacco and utili- ties. Economic news was gloomy as European bank stocks fell on liquidity fears, U.S. jobless claims, inflation, existing home sales and the Philadelphia Manufacturing Index are all worse than ex- pected. This is a dangerous market and flashbacks from the meltdown of 2008-2009 underline that reality. Sev- eral analysts are calling for the return of the uptick rule for short selling and a ban on long as stocks were rising, calls for the uptick rule were not heard. Recession fears rise on factory jobs, data and news from Europe, that the world's strongest economy could be falling back into re- cession. Blue chips didn't help as only one of the Dow 30 stocks rose, Walmart added .5%. While gold and silver advanced, the gold and silver mining stocks lost ground. A slew of bad U.S. economic data and renewed fears of Europe. The U.S. Treasury 10-year note is selling close to 2% for the first time ever. The U.S. and the 17 member Euro Zone are dangerously close to recession. The Fed- eral Reserve said weaker U.S. growth and lower infla- tion will keep interest rates at near zero. Mike Sheak, VP of Economic Strategists said, "We continue to think this is a soft patch, and we'll con- tinue to work our way out of this, but slowly." Recent mar- ket turmoil has battered con- sumer confidence and made businesses less willing to invest and hire. Data storage giant Net App late last week missed and warned citing a sharp slowdown of sales by financial firms and govern- ment. Its stock fell 14% on Thursday last week. Dell com- puter warned on sales and raising concerns that it may have trouble growing its way out Of this recession and debt crisis. President Obama's rival, Governor Perry of Texas has an impressive resumd. In 2010 the state grew 5.3% with the U.S. economy growing at 3.8%. Texas has an impres- sive record by any measure and is as far to the right as Obama is to the left. Texas has a net gain of jobs, adding 64,400 jobs, driven by its oil drilling boom. It added jobs in education, health care, lei- sure and business services. Unemployment rate is 8.3% versus 9.7% nationwide. In wages, Texas has increased wages by 7.4%. Perry has encouraged higher income taxes so the richest individuals and biggest corpo- rations pay their fair share and has hiked Federal spend- ing. 28% compared with President Bush's last year in office. Its tax rate is the 2nd lowest in the nation, and limits on red tape, tort reform and fiscal discipline have created an environment that allows the private sector to create jobs. Texas rates as the most business friendly state by CNBC and in the top ten in Forbes rating for top 10 in ranking for best state for business and careers. We All Want to Go to I had a scary dream the other night. A strange woman walks up behind me and tells me how old I will be when I die. I instantly woke up from that nightmar- ish slumber, sweating up a storm. We all want to go to heaven but not really right now or at a future planned date. There's a recent popu- lar song that goes, "Live like you're dying." If we knew when we were going up or down, we would live much differently, wouldn't we? Years ago l read an autobi- ography of NY Yankees slug- ger Mickey Mantle. He had a great baseball career in New York. One of the game's all time natural hitters. However, we learned later how dysfunctional his life appeared off the field which actually led to his death at 63 years old. It seemed his family had a history of a cer- tain type of cancer that took both his father and grand- father around 40 years of age. He assumed he would contract this disease and tried to pack as much fun as he could before his 40th birthday. Allegedly, he drank too much and did lots of other outrageous behavior. Then, he didn't die at the age he Heaven, But not Today thought he would. Sadly, the disease did hit one of his sons at that age. It skipped his generation. He once remarked that had he known, he would have lived a better life. Living one's life in fear of death is a horrible way to survive. Instead of living as best you can, you just float through life doing one stupid thing after another. You know, if we knew when we would die, we would eat, drink and be merry up to about two months before our earthly departure. Then, we would repent all our sins and await our transport to that better life up there where there is no pain. As a Catholic growing up before, during and after Vatican II, we were all made to fear damnation to hell and guilt was constantly pounded into us all the time. We lived good often not because it was the right thing to do but because the devil was awaiting our arrival. I can't see anyone becoming an atheist since that seems so hopeless. There has to be a better place than here, right? (Continued on Page 13) NORTH END AGAINST DRUGS Offers Our Sincerest THANK YOU To All Who Made the 2011 North End Family Pride Week a Huge Success: OUR CORPORATE SPONSOR: NSTAR OUR COMMUNITY PARTNER: NAZZARO COMMUNITY CENTER PRIDE WEEK MAJOR SPONSORS: MAYOR THOMAS M. MENINO "My Summer in the City Grant Program" - Boston Foundation City Councilor Salvatore LaMattina, Congressman Michael E. Capuano, Senator Anthony Petruccelli, Representative Aaron Michlewitz, Boston Harbor Cruises, Ausonia C~ncil Knights of Columbus #1513, NSTAR, Boston Police Area A-1 (G.R.E.A.T. Program), Joseph Bono - Boston Pushcarts, A1 Dente Restaurant, Benevento's Brick Oven Pizza, Citizens Bank, Massport Authority, "A Taste of the North End," TD Garden, Nazzaro Center, North End Athletic Association, North End Music and Performing Arts Center, Regional Review, Boston R.O.C.K.S., Joe Pace & Son, Post-Gazette, Mike's Pastry, Artu Restaurant, North End Health Center, Public Action for Arts and Education, St. Anthony's Feast, Century Bank, Polcari's Coffee, Lavanderia, Terrence Kennedy - Governor's Council, Halftime Pizza, Boston Upper Deck Bus Tours, Boston Super Duck Tours, Stanley Cup Champion Boston Bruins, Mariner's House, Mass. Department of Conservation & Recreation, Boston Harbor Cruises, Boston Host Lions Club, Anonymous PRIDE WEEK CONTRIBUTORS: John Romano, Paula Lyons, Kathy Carangelo, Rosina Fabbo, Olivia Scimeca, George Hadaya, Deb Decristoforo, Karen D'Amico, Maw Wright, Alfredo Vilar, Teddy Boyle- Boston Police, Mikey "FUD" Giannasoli, Laurie D'Elia, Carl Ameno, Dan MacGillivray, Mey Ngu, Patricia Romano, John N. Romano, Christopher Romano, Maw Romano, Frank Romano, Johnny "Mangia" Pagliuca, Karen, Johnny Paolo, Lisa Adams, Janine Coppola, Rebecca Griffin, Jeremy Sarzana, Anna & Luigi Arienello, Anna Dibenedetto, Mawanne Tordiglione, Lillian Ferullo, Chickie Finno, Roseanne ~omano, Steven Virgilio ROC Program, A.B.C.D., A.B.C.D. Seniors, AI Natale, Amici Restaurant, Aminpour Family, Antico Forno, Anthony Luongo, Artu Restaurant, Assagio, Bella Vista Ristorante, Benton Locksmiths, Billy Tse Restaurant, Boston Barber Company, Boston Parks and Recreation, Boston Pushcarts, Bottles, Bovas Bakew, Caffe Pompei, Camdele Construction, Carmen Restaurant, Clink at Liberty Hotel, Cookies by Design in Woburn, Corner Caf6, Crosstown, Dr. Anthony V. Bova, Danny Ryan, Elite Boston Landmark Realty, Eliot School - Traci Griffith, Euno Restaurant, Fiorelli Realtors, Francine & Jimmy Gannon, Golden Goose, Greater Metro Real Estate, Hanover Liquors, Hanover Street News, Henry Hammond, High Gear, Improv Asylum, In.jean.ius, Jane Kadlubkiewicz, Joan Hayes-Rines, Joe Hill, Josie Lepore, Joyce Papa Amoroso, Jeff Burger, Kayem Foods, Kathy Belmonte, LaCapella Suites, LaFamiglia Giorgios, Lavanderia Cleaners, Lewis Wharf Dental Associates, LoConte's Restaurant, MANGIA-MANGIA, Manuel Burgueno & Gretchen Yochum, Mary DiMasi, Mayor's Office of Special Events & Tourism, MBTA Police, MGH Police, Mohegan Sun Season's Buffet, Mother Anna's Restaurant, Nazzaro Center Kids Band, Nazzaro Center Summer Camp Kids, North Bennet St. School, North End Branch Library, North End Seniors, O'Saraceno Ristorante, Parziale's Bakery, Pastene Company, Patty Provenzano, Paul Scapicchio, Piccolo Nido, Pizza Regina, Phantom Gourmet, Polcari's Restaurant, Prezza Restaurant, Registry of Motor Vehicles,Rose Kennedy Greenway Conservancy, Sal Bartolo, Salem Witch Musuem, Salumeria Italiano, Sedurre Boutique, S.T.E.P. - Karen Wakefield Director, Street Magic, Sulmona Sports Association, Suffolk County D.A.'s Office, Suffolk County Sherriff's Office, Terramia Restaurant, The Kennedy Library, The Living Room, Tresca Restaurant, Uptown Cafe, Urban AdvenTours, Voile Nolle, William Ferullo - Attorney at Law