There was a roaring in the wind all night;
The rain came heavily and fell in floods;
But now the sun is rising calm and bright;
The birds are singing in the distant woods;
Over his own sweet voice the Stock-dove broods;
The Jay makes answer as the Magpie chatters;
And all the air is filled with pleasant noise of waters.

Resolution and Independence
- William Wordsworth

Hurricane Irma is still on the move; while it’s diminished from its strongest intensity, states still in the path are bracing for significant danger and damage.  At some point, the air will be filled with joyous  noises of survival and scenes of perseverance that is the hallmark of rebuilding. Make no mistake; this has been a difficult stretch for America, especially Texas and Louisiana, and now Florida, Georgia, South Carolina, and Alabama.

Homes have been washed away, and there are millions more without power, along with death and despair; and yet, leadership from the White House and mayors has shined. The economic damage is mounted to levels well above any of the natural disasters America has ever dealt with before.  The nation will rebuild, however.  As we grapple with the human toll and tragedy, politics has crept into the picture.

Without a doubt, there is a greater sense of urgency; will that move Congress to get a tax deal through sooner rather than later or never?

President Trump is pushing hard, but tribal factions within the GOP continue to press against each other like tectonic plates.  Will Paul Ryan and Mitch McConnell broker deals? Do they want to broker deals? Meanwhile, the possibility of Democrats being a part of deals from taxes to infrastructure, and even DACA, is compelling but worrisome if it means retaining too much of the status quo. 

As the nation comes through the storm this week and begins to rebuild, all eyes will be on Washington, D.C., to see if they can get out of the starting gate. 

It’s a hectic time in America for sure; let’s take a moment today to remember the victims of 9/11 on its 16^th anniversary.

Today’s Session

Stocks open strongly largely as a sigh of relief.  Hurricane Irma was a beast, but officials were bracing for greater impact.   Even though the damage hasn’t been assessed, the general feeling is this could have been a lot worse. 

Moreover, North Korea didn’t fire off another missile even though it was their so-called Founder’s Day celebration where showing off military might (real or make believe) is always the key component.

Then, there’s the probability cumulative damage from Hurricanes Harvey and Irma will put the Federal Reserve on pause with rate hikes and allowing assets to run off.