Obama lacks common sense, continued:
Obama thinks Al Gore is not only the creator of the Internet but also an American prodigy and spokesman for Climate Change.
Al Gore said this last Thursday on the Tonight Show, "People think about geothermal energy - when they think about it at all - in terms of the hot water bubbling up in some places, but two kilometers or so down in most places there are these incredibly hot rocks, 'cause the interior of the earth is extremely hot, several million degrees, and the crust of the earth is hot "
Al Gore is considered to be extremely stupid by knowledgeable people. The surface of the sun has been measured and found to only be about 6000 degrees centigrade! Al Gore confuses earth with the center of the Sun! What an idiot Al Gore is and Al Gore and Obama are believers that man must sacrifice to control natural climate just as the Inca Indians believed they had to sacrifice virgins so that the sun would rise each day and crops would grow. It is human hubris to claim man can control the climate when man can't predict much less control even the weather.
We have Obama administration lunatics and idiots destroying everything our founding fathers created. Obama doesn't like our Constitution and said it was written by old white men and needs corrections. We had an avowed communist who came up with the "junk Car" stimulus package that stimulated Japan more than America. We discover that the terrorist Ft. Hood murderer who just killed 13 people was an Obama advisor on "Homeland Security". See page 29:
http://www.gwumc.edu/hspi/old/PTTF_ProceedingsReport_05.19.09.pdf
We now have the very same ethical moron who let the Puerto Rican terrorists go free after killing a Connecticut security guard now overseeing the sham trial of the 911 terrorists in NYC. Yesterday Obama was put on the spot because the 911 terrorists were not read their Miranda rights and that alone is grounds in civil court for dismissal. To that revelation, Obama said he was confident the 911 defendants would be found guilty and executed. His internationally proclaimed prejudicial statement alone could set the 911 terrorists free in a civil court. Judicial experts say it was unwise to move the 911 terrorists from military court to civil court and that it undermines the war on terrorism and trivializes and makes a sham of justice in America. Obama already has said the waterboarding that was done was torture so by definition the 911 defendants were tortured according to Obama. And in civil court none of the confessions may therefore be considered. To top it off the 911 terrorists don't even have to testify in civil court even though they previously freely admitted their terrorist activities to the world.
Market Outlook:
A 1.6% surge in utilities, boosted by apparent global cooling drove up production last month. Also, companies in the U.S. are slowing the liquidation of inventories and their buying now is helping manufacturers. Every time Al Gore makes a speech the temperature drops. Most scientists agree that there is global warming but it just is natural not human in origin. Now surveys show that 43% of Americans even doubt there is any global warming natural or otherwise thanks to Al Gore's negative credibility.
It sounds as though China may allow their currency to appreciate and help equalize the trade deficit with America and that would be a threat to China's exports and recovery and would begin the inflation of the prices of USA imports from China. But still the link protects the dollar from a major attack.
This week recap:
This is an important week. We expected an improvement in housing markets.
NY Fed Manufacturing Survey indicates that conditions for New York manufacturers improved in November, but at a somewhat slower pace than in October.
Bernanke spoke in NYC and would like to avoid the 1994-type bond market carnage of higher interest rates. It was interpreted positive.
September Business Inventories Fell 0.4%, another positive factor for increasing production.
Home Depot sales were better than predicted
The USA markets continued to rally.
In September, the goods deficit increased $5.6 billion from August to $47.6 billion, and the services surplus was virtually unchanged at $11.1 billion. Exports of goods increased $3.5 billion to $90.3 billion, and imports of goods increased $9.1 billion to $138.0 billion. Exports of services increased $0.2 billion to $41.6 billion, and imports of services increased $0.2 billion to $30.5 billion. This shows world trade is improving.
Industrial production increased 0.1 percent in October after having averaged monthly gains of about 0.9 percent over the previous three months.
Housing has bottomed and the economy should grow at a reasonable pace next year, the president of the Federal Reserve Bank of Richmond told state legislators Tuesday. In housing, Jeffrey M. Lacker said several indicators of sales and construction activity hit low points earlier this year and have already risen modestly.
"Housing is no longer a major drag on GDP growth," he said, referring to gross domestic product, which is the sum total of goods and service produced in the country.
"In fact, it should make positive contributions, in welcome contrast to the past three years."
Consumer Price Index showed that inflation has not yet started.
Housing Starts were down allowing the inventory of unsold homes to decrease so that prices of homes can stabilize and mortgage defaults can decline.
Today, Nov 19:
Unemployment Claims- If they do not jump today they will most certainly jump next week because there was a two week delay in passing the extension of the coverage.
Leading Indicators should be positive
Market forces November 19
The market is now on its last legs. We estimate the NYSE must still rise another 1.8% from yesterday's close to be interpreted as a continuing rally not a declining shoulder.
Asian markets were mixed again last night; China up 0.5%, Hong Kong down -0.9%, India down -1.3%, Japan down -1.3%, Seoul up 1.0%and Taiwan down -0.1%.
European markets are down with the average in a range from -0.6% to -0.9% this morning about half way through their day.
US pre-market futures are down at about -0.7% today at 8:30 AM EST.
It is important to be able to get out of stocks quickly and possibly completely if the NYSE does not set a new high at least 1.8% above yesterday's closing price and on above average volume within a week. Typically an intermediate rally would last a few days longer and have another chance for a spike upwards but the unemployment numbers today could be worse because the extension of benefits lapsed a few weeks and then was restarted. That could cause a small spike down and then a large spike back up the following week.
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