Obama administration must reform Wall Street that is broken and is currently run by thieves but instead focuses on bankrupting the best healthcare sys

Obama administration must reform Wall Street that is broken and is currently run by thieves but instead focuses on bankrupting the best healthcare system in the world.

World Outlook
Wall Street and banks now focus on fees to rob nations and individuals who already are deeply in debt.

Will we double dip or will we pull out of this recession?

Emerging market stocks rose, erasing their losses for the year. However, Devan Kaloo, who oversees $22 billion at Aberdeen Asset Management Plc said he thinks emerging-market stocks will drop as much as 15 percent this year as earnings miss estimates and global growth slows.

Metal prices gained after China said exports soared by the most in three years. However China indicated more support for American treasuries and less gold buying in the near future.

The British pound weakened as U.K. manufacturing contracted.

Mexico’s consumer prices rose 0.58% (7.1% annual inflation rate) in February

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:

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.

Yesterday:
ICSC Store Sales up 3% year over year but we must recognize that this time last year was the final panic selloff of stocks and stores were hurting. We are 3% better this year and stocks are up 61% from a year ago.

Wednesday, March 10:
Wholesale trade deficit expected to widen

Thursday, March 11:
Unemployment Claims
U.S. trade deficit

Friday, March 12:
Retail sales 8:30
Consumer Sentiment


Market Outlook March 11

We still 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. We expect FED tightening to be required before elections. The market cash flow is telling us the S&P advance since Obama took office may reach 46% in the next few months. But we expect that will be the high point for the year and the year will end lower than it began.

Asian markets were up narrowly over night; Shanghai up 0.1%, Hong Kong up 0.1%, India up 0.4%, Jakarta up 0.2%, and Japan up 1%.

European markets are currently narrowly up in the range from 0.1% to 0.3 % this morning about half way through their day.

Today US pre-market futures are flat at -0.1% at 6:30 AM EST.