pope francis is due to come to new york, washington, d.c. and philadelphia in a few days time.  the philadelphia economy is stuck between sales and construction with layoffs soon in the latter field as construction will cease as winter weather comes. meanwhile, federal workers at good jobs nation will be on strike in washington, d.c. for a call to action for higher minimum wage.  higher minimum wage is a double-edge sword particularly in this frail economy.  businesses will most likely cut back even more if minimum wage is successfully raised to $15 per hour compounding with obamacare.  obamacare has already resulted in significant job losses as it has impacted the corporate bottom line.  pope francis has already bashed capitalism in his book in 1998, and he should take this strike to heart.  pope francis is quoted as saying “inequality is the root of all evil.” he definitely won’t fall easily in gop’s favor.  whatever his speeches are, they won’t do anything to significantly impact the economic situation but may quell the disruptive influences or ignite them.

the volkswagen scandal is big as investors were stunned.  volkswagen rigged cars for emission tests, and now volkswagen will be forced to recall hundreds and hundreds of automobiles.  europe already has its share of problems with greece and the euro.  a german company with this much global impact could hurt europe more.

now to our morning coffee…