"How reliable are the computer [climate] models on which possible future climates are based? Not very. All will agree that the task of modeling climate is vast, because of the estimates that have to be made and the rubbery quality of much of the data."

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The key is if the economic data stays soft, maybe we don't have to worry much about interest rates anymore. Then we need to worry about earnings. What gave us a really strong move in stock prices from late May until about two weeks ago was this heightened optimism that maybe interest rates are at that high. That gave you a relief rally. Now reality is setting in - if we've seen the worst on interest rates then we've seen the best on earnings.

— Douglas Cliggott