Today everyone on welfare and every indigent illegal foreign immigrant gets free health care at American clinics and hospital emergency rooms. That is one of the factors driving up American health costs. But today, working covered Americans do not have to pay for their hip replacements, heart pacemakers, or cosmetic surgery. Rhinoplasties (nose jobs) today are funded because corrupt cosmetic surgeons classify them as necessary for good health. Under Obamacare free healthcare for illegal as well as American indigents will become a right, entitlement. They will then be entitled to the same hip replacements and nose jobs the leftists demand for themselves today. The leftists of Hollywood are currently the biggest abusers. They believe in taxes but hire tax lawyers so they can avoid taxes on themselves. Obamacare is such a great deal for people who do not have an American work ethic but instead live for the pleasures of life because they have a cultural inherited distaste for mental or physical effort. The Obama acceptance of that foreign sub-culture will combine with the Obamacare squandering of American wealth to cause a new flood of illegal immigrants such as the world has never seen before.
By corrupting the American system of liberty and free enterprise they hope to bring down America and spread socialism where the lunatics and sadistic ignoramuses of the world can excel. Remember Hitler and Stalin were two of the world's most successful socialists until the vigilance of the free world destroyed the insane Nationalist Socialists and permitted the paranoid psychotics of the Union of Socialist Republics to bankrupt themselves. At the end America was sending wheat to Russia so they would not starve. Socialist equality can only be achieved by bringing everyone down to the same level of poverty and famine.
For the first time in many years, this week the Hollywood lunatic left did not use the "Oscars" to spew their venom against America, and the American military. Americans have had it with the left that have now corrupted even science. The EPA has become recognized world wide as the job of last resort for every ignorant dropout from the field of science. The UN environmental pseudo-scientists will be investigated but hope to get other ignoramus pseudo-scientists to do the investigating.
Not since FDR attacked the Supreme Court and then doubled the number of Supreme Court justices so that his political hacks on the court would accept socialism has an American president attacked the Court as he did this week. FRD wanted socialism too at first. He turned a recession into the Great Depression with his socialism. But in the end he came to his senses and took America to war against the Nationalist Socialists (NAZI) of Germany and by 1949 (20 years) the market recovered to its pre FDR levels. Obama could cripple America and send us unto another Great Depression by passing Obamacare, allowing the flood of illegal America hating immigrants and bankrupting America. Only people who hate a country and want to overthrow it move to that country with no intention of learning the language, no intention of accepting the culture, and no intention of contributing to fund their benefits.
World Outlook
Google has the courage to pull out of China due to that socialist nation's spying on everyone including its own freedom loving dissidents.
Moslem nations vie for the honor of being the most corrupt and the most viscous and genocidal. Usually Nigerian and Bangladesh vie for this first place distinction and in the past Bangladesh topped Nigeria. But with the recent machete slaughter of 400 to more than 1000 Christians in Nigerian villages (the lower figure being the one the murders have admitted) it is apparent that Nigeria now best epitomizes the hate, deceit, suicidal tendencies, genocide, and delusions of grandeur and greatness of the Moslem world. Recently four rabid Moslems were arrested for plotting the murder a newspaper cartoonist that depicted Mohammed's head on a rabid dog. But of course it is ok for artists with Moslem/Buddhist/Hindu loony left beliefs to paint the "Holy Mother" using dog feces.
The Muslim nations continue to live in the dark ages where religious fanatics spew toxic venom and call it an education. Most Moslems are ignorant today and even the wealthy educated princes have to hire foreigners to run airlines and other enterprises because most Saudi princes bluff their way through foreign universities and so end up with the very best having the education of a French or German "college" graduate. The French "college" is post primary school or what is called high school in America.
The lunatic left loves the Moslems. The ELCA is an American radical left of the Lutheran denomination of Christianity. They have pretty much replaced the Lutheran catechism with Obama's DNC political platform. They delight in elevating practicing homosexuals to high church positions. They are so proud and gay that sometimes in their Sunday services they proudly recognize their same sex partners when they are visiting so other like-minded people can greet them afterwards. They are such rabid Jew haters that some of their leaders are not allowed into Israel any more. The also sometimes show a reluctance to perform the baptisms of the children of military personnel. That is because leftist lunatics do not like the military
Wall Street and banks now focus on fees to rob nations and individuals that 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.
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.
Yesterday:
Unemployment Claims decreased unexpectedly from last week
The U.S. trade deficit trade deficit decreased unexpectedly.
Friday, March 12:
Sales at U.S. retailers unexpectedly climbed in February as Americans braved blizzards to get to the malls, signaling consumers will contribute more to economic growth.
Consumer Sentiment
Market Outlook March 12
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. We have recovered less than half the loss of this recession. With Obamacare and Obama immigration policy America is at risk of another Great Depression beginning in about a year. The lunatic left must be voted out of office.
Asian markets were mixed over night; Shanghai down -1.2%, Hong Kong down -0.1%, India flat -0.04%, Jakarta down -0.4%, and Japan up 0.8%.
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 up in a range 0.4% to 0.6% at 9:00 AM EST.
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