One piece of positive economic news ISM Non-Manufacturing Index for July surged to 60.3 - highest number in 10 years

The ADP Employment Report came in at 185,000 jobs, well below the consensus

June Trade Deficit rose 7.1% - in line with expectations

June Layoffs rose to 105,696 biggest layoff number in 6 years

Consumer Comfort Index down to 40.3 second lowest number since November

The Atlanta Fed dropped a bombshell forecasting Q3 at just 1%

Given this slowdown, could we possibly have a rate hike?

The stock market has had 6 consecutive down days

The stocks with no earnings are doing the best

Very reminiscent of the dot com era

The "story stocks" are selling in 2015

Companies that actually have earnings are experiencing the greatest pressure on their share price

Every time we have a dip in the stock market, the Fed always comes to the rescue

Why wait until the economy is slowing down to raise rates?

They can't do that this time, unless they want to abandon their rate hike rhetoric

They will have to take the rate hikes off the table

Janet Yellen continues to say rate hikes are data dependent

The data has been bad for quite a while

The economy is growing at the slowest pace of the entire "recovery"

All the Fed can do is go back to the drawing board with more QE, because they can't admit that it never worked

The money printing is just getting started

Not that it is going to work, but it is the only policy remedy the Fed has

Some stocks are really getting beaten up as earnings continue to disappoint

This topping pattern has got to worry the Fed

Any rate hike will accelerate the decline

We have a stock market bubble and raising rates will prick that bubble

Ben Bernanke created the stock market bubble thinking the "wealth effect" would cure the economy

Bernanke would not acknowledge that bubbles weaken the economy because it was not politically advantageous

The First Republican Debate was held tonight, so please follow me on Twitter for my comments

Donald Trump is far and away the leader in the polls and he is one of the few candidates who have been critical of the Fed

The only other candidate in the race who knows anything about the Fed is Rand Paul

Tomorrow could be a big day - the question is, if we get a bad jobs number, will we finally have a reaction in the currency markets?