ACORN Sting Videographer, James O'Keefe was arrested when he attempted to enter Democratic Sen. Mary Landrieu’s office in the Hale Boggs Federal Building in downtown New Orleans. He was charged with entering federal property under false pretenses with the intent of committing a felony.
Rewarding the indigent with bigger welfare payments does not stimulate the economy, stupid! The reason most marginal people do not have two nickels to rub together even in good times is because most of them have permanent addictions of one form or another and a high percentage of their money goes to the criminals who feed their habits. Stimulating marginal people stimulates the drug cartels and the liquor and flesh merchants, stupid! That is why it was so easy to catch ACORN helping a sting operation set up prostitution in an inner city. That is what community activists do. But the Obama administration has instead arrested the individual who conducted that sting on the pretense that he falsified his identity in his second sting attempt. Addiction is a major cause of American poverty today and a recurrence years later in life can set the addicted back and their whole family back to zero again and even result in prison. When a person is addicted it is a life-long nightmare. Giving them money is no help. It actually makes the problem more attractive to young people when they see the addicted rewarded with welfare and unemployment payments for doing nothing but drugs. In the banana republics it is publicly acceptable to chew coca leaves all day to maintain their highs. The excuse they use is that it cures nausea and hides altitude sickness that tourists sometimes encounter on short trips to mountain peaks. They love giving tourists the leaves to chew. Obama is kicking America down the road towards becoming a banana republic.
World Outlook
Icelandic and Greek socialist demonstrators continue protests against having to repay the $Billions in bailouts. The Germans and the French were the first to violate the EU deficit spending limits by a few percent six years ago. England has its own currency so they can ignore the limits. One solution is to take Greece and Iceland off the Euro so they can devalue and have inflation independent of the rest of Europe just like England.
Week of Market Reports:
Yesterday: Treasury bill rates fell across the board on improving market sentiment amid more favorable macroeconomic indicators. The benchmark 91-day debt paper fetched 3.863 percent in yesterday’s auction, down 5.8 basis points from the average of 3.921 percent two weeks ago.
Tuesday, March 9
ICSC Store Sales
Wednesday, March 10:
Wholesale trade
Thursday, March 11:
Unemployment Claims
U.S. trade deficit
Friday, March 12:
Retail sales 8:30
Consumer Sentiment
Market Outlook March 9
The market is up for this year but still volatile. We see the averages as possibly rising 3% to 5% more in the next few months. But the free money the Obama administration is throwing at indigents, GM, banker bonuses, unions, global warming fraud, and community activists is all money that accomplishes very little as it swirls down the proverbial toilet bowl. It must all be paid back through inflation, economic damage, and future hardships.
Clueless in Washington
When it was suggested that Obama stimulate the economy by lowering the capital gains tax, his party fools continued raising taxes and smugly retorted, "What capital gains?"
Reagan was twice as smart as Obama because he knew when he lowered capital gains taxes that investors would sell everything they could sell at a profit. The result was that tax collections from capital gains soared and that helped reduce deficits for two decades. Leftists are too stupid to realize that today people are holding on to investments as long as possible to avoid paying the foolhardy Obama taxes. When the leftists are thrown out of office this fall, tax collections will soar as people sell investments in equities and real estate. The stock market and the real estate markets will then surge and thus stimulate the entire country almost instantly increasing America's national wealth and thus further increasing tax collections. Once again Americans will feel wealthy and will not be afraid to pay more taxes and share their wealth as generous Americans have always done freely.
Obama's coercive leftist administration is too ignorant of the American work ethic to even have a clue or inkling as to how that happens. Obama himself and other leftists who never had an honest job or honest investment are so extremely clueless. His dishonest tax evading appointees in his treasury are also clueless as to why honest Americans are generous when they are free to work hard and accumulate wealth under liberty instead of having socialist clawing at them and passing laws to legally steal their honest gains under socialism.
Asian markets were up over night; Shanghai up 0.5%, Hong Kong up 0.1%, India down 0.3%, Jakarta up 1.2%, and Japan down 0.2%.
European markets are currently down in the range from -0.4% to -0.7 % this morning about half way through their day.
Today US pre-market futures are flat at +0.08% at 8:30 AM EST.
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