Socialism and Communism cannot win the gold without cheating

Leftist stupidity and mediocrity forced the Communist and socialists to use hormones to win in the past. But tests for drugs, hormones, and sex changes exposed that fraud, espionage, and betrayal behind the iron curtain was the only way the leftists could compete.

Today the USA, Canada, and west Germany are tie with eight Olympic gold medals each. The UN leftist Indian global warming "experts" are noted for destroying the reputation of science by transforming it into a new "Eastern" religion. There is no convincing scientific evidence that human release of carbon dioxide, methane, or other greenhouse gasses is causing or will, in the foreseeable future, cause catastrophic heating of the Earth's atmosphere and disruption of the Earth's climate. Moreover, there is substantial scientific evidence that increases in atmospheric carbon dioxide produce many beneficial effects upon the natural plant and animal environments of the Earth. The number of true American scientists who have now signed petitions recognizing global warming as a natural glacial cycle and not a human related phenomena far out numbers (3 to one) the American corrupt-incompetent-scientists who support the incompetent India environmentalists. See:
http://www.oism.org/pproject/s33p1845.htm

World Outlook
Greek communists caused havoc in the world stock markets again yesterday because the extent of the damage done by incompetent-leftists seems to be unlimited at times. Greek communists now call the German's Nazis and think they deserve more reparations for their invasion three generations ago. In the USA states like California and New York get extra "stimulation" money to offset deficits by quietly paying off teacher and state employee unions for political support of communists, socialists, and other leftists. Obama said he wanted a "revolutionary" guard to act as a new domestic army. Thug organizations such as Acorn are a vehicle to meet his goal. Europe has also been using stimulus funds for leftists and that only raises the specter of a "Greater Depression"

Argentine still has $20 billion (and growing) of defaulted bonds. The incompetent-leftists of the southern American hemisphere are forming a new organization that excludes the Americans and Canadians.

Derivative traders are signaling that the Euro’s slump to a nine-month low will continue even if European leaders bail out Greece. Most major Greek banks there have now been downgraded. Leftist Greek unions run by angry, ignorant and stupid people just struck today and paralyzed the Greek economy and tourism.

Mexico will Buy Up to $600 Million a Month as Mexico’s central bank buys as much as $600 million a month in the currency market in a push to boost foreign reserves after last year’s peso tumble led policy makers to turn to the International Monetary Fund for help.

It is becoming evident that EU nations are hiding much of their national debt with transactions that keep the debt off the books. Goldman helped Greece and others hide $billions of debt thereby hiding their high risk and putting them well over their heads and unable to pay fair market interest on their existing debt now that it has been disclosed. Interest payments on new debt have become unaffordable and any country that offers Greece aid will lose everything they loan. Greece arranged swap agreements with about 15 securities firms that have helped hide the country’s true deficit. It now appears that European economies are beginning to slump again because socialist spending programs do not work they only deepen the crisis by increasing the debt burden, which is the cause, not the cure for recessions. Leftists are so stupid they think the cause of economic ruin is what leads to great wealth. They max out their credit cards and then want to mug the rest of us because we work hard and save in order to create real wealth.

Greece is smaller than California or New York where government employees are also sucking the blood out of their taxpayers. But the ignorant American leftists used their $800billion stimulation package to protect and stimulate more government job creation while raising taxes on productive people. Is that stupidity or what?


Week of Market Reports:

Housing Prices rose 3.1% indicating further stabilization.
Consumer Confidence "early estimate" declined to 46% from 56.5%. That seems like a fluke.
Commercial property sales increased 70% in December indicating that commercial real estate may not be as fragile as thought.

New Home Sales fell 11% to 309K from last month's unrevised 342K level. But that is not bad considering that we saw housing prices reported yesterday as up 3.1% and the federal $9000 tax incentive for first time home buyers ended last month. Besides new homes only add to the housing inventory. Existing home sales are a better indicator this Friday.
Ben Bernanke said US interest rates would remain low for several more months to lower the risk of a double dip recession as stimulus plans are phased out. About one third of existing stimulation never was spent.

Yesterday
Unemployment Claims rose to the levels seen three months ago. New claims this month rose to 296000 from 274000 reported last month. It’s the economy stupid! Bill Clinton was right and Barack Hussein Obama still does not get it! Obama still thinks the best health care system in the world is killing people and the best way to stimulate the American economy is to give away American wealth to Acorn thugs, indigents and illegal immigrants who are so lazy they won't even learn English before they demand American welfare.
Durable Goods Orders rose 3% compared to rising 1.9% last month.
Leading Economic Indices improved 0.3% showing the recession has not double dipped at this point at least.

Friday, Feb. 26:
GDP Revision: Economy in US Expanded at 5.9 Percent Pace in Fourth Quarter.
The Inventory Story
Chicago PM Index
Consumer Sentiment
Existing Home Sales 10am

Market Outlook February 26
The markets dropped yesterday on low volume. The short and interim market direction remains bullish. However, when the market rises close to the next high (in 2 to 4 months) it will likely be a critical time to take profits because FED tightening will likely be occurring soon after. Inflation has started and health care costs surge and care declines whenever socialists get involved. After the next high point the subsequent decline will likely break the old October 30 lows and challenge even the July 2009 low. Our corrected NYSE cash flow index gave its Head & Shoulder neck breakdown sell signal on Jan 29 when the NYSE (corrected for trading volume) broke through the neckline of a head and shoulders formation and it plunged about 3% below. But that signal has a long lead time which allows us to know what is likely two or three months in advance. The reason we cannot do a Market Cash Flow Analysis (MCFA) of the other exchanges is because they use the NYSE volume; they no longer use their own real stock volume.

Asian markets were down over night; Shanghai down -0.3% again, Hong Kong up 1%, India up 1.1%, and Japan up 0.2%.

European markets are up in the range from 0.5% to 1% this morning about half way through their day.

Today US pre-market futures are neutral at 9:00 AM EST. It is seldom a good indicator of what will happen but we are due for a resumption of the up-trend soon.