It looks like there is going to be some kind of deal to avoid the "Grexit"

Greek's exit would be great for Europe, but it would not be politically attractive for either side

As long as Greece stays in the Eurozone, the Greek government can continue to blame Germany or Brussels for their problems

So-called austerity will continue without any haircut to the debt

The same is true for cuts to government spending

The Greek government may increase taxes and/or adjust the retirement age for pension, but no government spending cuts are on the table

Tax increases will provide more incentive for tax evasion or avoidance by leaving the country

All talks are re-arranging deck chairs on the Titanic - extend and pretend

The markets are higher - the euro down big

The market is anticipating more cheap money, which would be threatened by a Grexit

In an ideal world, if Greece were to leave the Eurozone and set themselves up as a bastion of free market capitalism, then they could come back strong

Given the electorate, this move is unlikely

Socialism only works in Greece as long as they have another country's money

The sell-off in gold based on the Fed's dovish statements last week

The Fed will only raise interest rates nominally in order to keep the market from balance sheet expansion stimulus into its calculations

Good news from housing numbers - a surge in the Northeast

Mortgage rates have been rising, although still low. Some buyers are worried about higher rates

Higher rates, however would price buyers out of the market

Monday Chicago Fed National Activity Index came in at -.17, continuing a downtrend consistent with a recession

May Durable Goods down 1.8% three times lower than expectations

X transportation met recently reduced expectations

Durable goods has missed for 5 out of the last 7 moths

Chicago PMI Manufacturing weaker than expected decrease to 53.4 - now at the lowest level since October 2013

Manufacturing and production data sis weak - housing numbers are getting a boost from interest rate expectations

Home ownership rate continues to fall

Rents are rising