Opposition to Obama socialism grows. The Democrat party is beginning to split now because Obama's Indonesian friends have embarrassed Bill and Hillary Clinton with recent sexist questions. Former Clinton supporters are becoming more vocal now about the lunatic Acorn left and their embarrassing corruption. The US treasury is headed by a tax cheat and last week ACORN was caught encouraging child prostitution and tax evasion.
Market forces September 15
A falling dollar and China trade war now loom in the early stages. The stock market continues to creep along as if towards a cliff. The Wall Street risk appetite is high and a record number of rank amateurs are mow betting with and against the market with puts and calls.
Market Outlook
We expect relatively good housing news this week but believe that a double-dip recession is becoming more probable than a slow recovery.
A sharp market decline is now possible because many leveraged funds are fully invested, have hair-trigger stop sell orders in at about -3%. Our strategy now is to continue to take recent profits and wait for future buying opportunities.
Asian markets were up slightly last night, China up 0.2%, Hong Kong down -0.3%, Japan up 0.2%, and India up 1.5%.
European markets are currently flat in a narrow range from -0.2% to 0.2% this morning about half way through their day.
US market futures are down -0.1% at 7:30 AM EST before the opening today.
The current market's over optimism is a dangerous sign. The market PE is now higher than last year before the decline because stock prices have been recovering even as earnings have been declining all year. Our indicators say the market has topped again. Tax and spend socialists now run Congress and will likely bankrupt America for the first time in our history. Debt is unrelenting but the process of bankrupting a nation takes several years. Robert Mugabe was a "community activist" before he became president of Zimbabwe. Under his redistribution of wealth he took a country that had food surpluses and made it into just another murdering starving socialist bankrupt tyranny.
Under socialism, democracy is just a license to steal. Once the thieves have a majority… tyranny takes over. The worker/producers then become the slaves of the tyrants. If you protest your enslavement you go to the Gulag or concentration camp. Hitler, Lenin, Stalin, Robert Mugabe, and Sadam Hussein were all democratically elected. Sadam Hussein claimed a 99% majority in his last Iraqi election after gassing his countrymen. Democracy only works in a free society and a free society has free enterprise not redistribution of wealth to an indigent/corrupt/maniacal tyranny.
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