Market Outlook
Natural gas futures prices are rising as new facilities draw off inventories. But still, most natural gas is being burned off into the atmosphere as a waste product from oil drilling. Militant socialist hunter gathers in Nigeria want a larger share of the profits from oil production and get attention by blowing up the Nigerian facilities. They claim they are the Robin Hoods of Africa scavenging from the rich oil consumers to provide welfare for the indigents. It beats having to have a steady job and fits very well with the culture of the hunter-gatherer. Natural gas is kept liquid by keeping it under pressure. That makes natural gas more vulnerable to socialist terrorism. Hunter-gatherers are socialists and do not believe in work. They religiously believe everyone has a right to the fruits of the earth freely given by mother earth. They scavenge by tapping into oil pipelines and every so often we hear of accidents where hundreds of socialists are killed when one of them lights up a cigarette.
The pre-conscious hunter-gatherer socialists are a pre-civilization culture. Civilization arose when people chose to work by the sweat of their brow and stay in one place and grow their own food. That required them to store food not just for the winter but also to store the best seed for the next year's planting. Free enterprise civilization became the immediate target of the socialist hunter-gathers that found civilized people to be easy pickings. That led to the need for a military to protect the free-enterprise producing civilizations from the lazy socialist scavengers. But unfortunately civilized people allowed the socialist scavengers to settle in the areas of civilization. Democracy worked well at a tribal level where the tribes were homogeneous civilized peoples but the scavengers loved their hunter-gather cultures and refused to integrate into the previously homogeneous free enterprise producer civilization. Each time the socialists refused to integrate and contribute to the civilization the civilization collapsed. The socialists believed their hunter-gatherer scavenging culture was less stressful and they chose to further insulate themselves from having to work by the sweat of their brows by refusing to learn the language of the civilized peoples. They felt their culture was superior and relaxed like living in the Garden of Eden and picking the fruit while the inferior civilized people had stress of planting, harvesting, investing in seed and worse still were un-cool nerdy cold hearted people who had to sweat to live. And to them sweating (work) is definitely uncool.
The fall of Rome is the classic example of what happens when hunter-gatherer-scavenging socialists migrate illegally into a civilized society and steal from the hard working culture to feed the scavenging socialist culture. The Goth invading hunter-gatherer tribes refused to learn the Latin language that was the language of western civilization. They also refused to work and contribute to national defense. However a few did join the Roman army to learn how to destroy Rome. They first went on the welfare rolls and began the bankruptcy of Rome. But ultimately welfare was not enough for them. The ransacked Rome and stole everything while raping and pillaging. The net result was several hundred years of a Great Depression that is known as the Dark Ages. These hunter-gatherers were of the tribe known as the Vandals. Hence that is the origin of the term vandalism. But if they had called themselves the tribe of Socialists perhaps their danger to American liberty and free enterprise would not be so great today.
Walt Disney portrayed them well with his animated story of the hard working ants and the scavenging grasshoppers. Today we have the socialist Voodoo science of "Climate Change." We are seeing Voodoo medicine with the H1N1 vaccine going into mass production with a 70% statistical confidence that it is effective in 26% of the injected instead of our old free-enterprise science that required 90% confidence that any vaccine be effective at with at least 70% of the injected. But the risk of fatal side effects of Voodoo Obama science is as high as ever. And today we have the socialist Voodoo economics of redistributing wealth from the workers to the people on welfare as Obama's way to end a recession. When FDR and Rome tried Obama's socialist Voodoo economics in the past it led to a depression. FDR reversed his socialism due to the threat of the Nationalist Socialists of Germany known as the Nazis. Only when FDR returned America to liberty and free enterprise did America recover.
The week ahead:
Housing Starts showed housing is beginning to rebound but it was spun negatively. The starts were flat when normally they decline as winter is approached. The hedge funds are apparently shorting the market now so they apparently don't want the seasonally adjusted numbers announced at this time. When the market drops 3% then it will be ok to tell the truth with no spin.
Today this PM, the FED's Beige Book sentiment expected to indicate the FED still believes deflation is the greater risk and the bubble continues to expand. To spin this negatively the shorted hedge funds will want to say… "But the FED may soon have to raise rates to strengthen the dollar."
Thursday, Oct. 22 AM
Unemployment Claims are expected to be leveling off but with statistical ups and downs.
Leading Economic Indicators are expected to continue to say recovery is under way.
Friday, Oct. 23 AM
Existing home sales may actually increase due to foreclosures.
Relative to the declines seen last year (i.e. seasonally adjusted) this will be a week of positive reporting. But relative to last month's reports this week will likely show several economic sectors remain in decline.
Market forces October 21
Hedge funds are shorting the market now in hopes of causing another correction and hence and profiting. They could succeed soon. We recommend taking profits.
How can anyone be truly optimistic that the socialists won't put us into another 1930's type depression until the Voodoo leftists are democratically voted out of office in 2010? Obama's money printing presses are roaring and he his giving out checks now to his supporters just as every banana republic dictator does. In Detroit they were recently told where to go to pick up their Obama checks. Obama Voodoo socialists say welfare is an economic stimulant, not tax reductions! How confused these leftist lunatics are! In truth they know they are giving the checks to buy votes to stay in power.
Asian markets were down last night; China down -0.5%, Hong Kong down -0.3%, India down -1.2%, Japan flat, and Seoul down -0.3%.
European markets are down in a range from -0.7% to -1.1% this morning about half way through their day.
US pre-market futures are down today by about 0.4% at 9:00 AM EST.
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