So I finish at the gym here this morning and decide to take a little time down at the beach.
I walk a considerable ways (avoiding the tourists at all costs) and find myself a nice quiet spot about a mile north of the usual “european action”.
No sooner than I’m sat down, I spot a small mexican boy no more than 5 years old (I’m guessing even younger) trudging down the beach – headed my way. Swimming in his oversized shorts, cute as a button and brown as chocolate chips, he plunks down beside me, wipes his brow and asks:
“Hola senior. Tienes 10 pesos por fa vor?”
I wrestle some change out of my side pocket while asking “where are your parents little friend? – and why are you walking the beach all by yourself?
“Gracias Senior! Pero, no tengo tiempo para hablar……….estoy trabajando!”
The lil guy says thanks, but he doesn’t have time to talk………..he’s working!
The market “gong show” continues with even more “bad data” out of the U.S and further indication that recession is likely well in play – but of course markets continue higher as the smoke and mirrors continues a little while longer.
You know – there was a time when this kind of poor data / indicators actually meant something – a time before Central Banks intervention. The scary thing is people start to believe……… that things are actually improving.