Obama paid GMAC's Carpenter about $1.2 million for doing nothing for the month-and-a- half before he quit last year.

According to a regulatory filing... socialists paid GMAC's Carpenter about $1.2 million for doing nothing for the month-and-a- half that he was sitting in pretending to lead the Detroit-based company last year. That Obama comi-pay is equivalent to a full-year salary of $9.5 million. Goldman Sachs paid their executive $9.6 million for 2009 but Goldman Sachs actually made him do some work and show a profit. But then Obama socialists, global warming shamen, and communists think profiting from hard work is immoral. They believe in paying people who do nothing. GM is now already now recalling 1.3M vehicles showing just how inept socialist government control can be.

However looting the incomes of hard working people and redistributing wealth to ACORN, government workers, the lazy, and big unions is considered both moral and prudent by Obama socialists because the indigents spend money quickly (hand to mouth). This is the level of stupidity we have at the top and who is converting the greatest nation in the world into another coca leaf republic.

Religion is not the opiate of the communist masses, coca leaves are.

Free countries like America never had "the masses" until the comi-socialists started redistributing wealth to make a whole new class of totally government dependent people possible.

World Outlook
Germans pretend to help Greece to punish and put currency speculators at risk.
Abu Dhabi and Singapore face an additional $10 Billion Loss from propping up UBS and Citigroup.

Unemployment insurance for millions of people is ending as democrat- socialists ignore the economy and to work on a health care bill that will be paid by our grandchildren. Obama, it’s the economy stupid!

U Michigan Consumer Sentiment - Final Feb 26 level was down only 0.1% to 73.6%. That indicates the preliminary Consumer Confidence index that had been down 10.1% to 46%was probably wrong.


Week of Market Reports:
International Business Machines Corp., the world’s largest computer-services provider, laid off 500 workers in the U.S yesterday.

Personal income increased 0.6% in February, the second consecutive gain, while spending rose 0.3%, suggesting continued economic recovery. The Commerce Department said incomes totaled a seasonally adjusted annual rate of $4.99 trillion. The March advance followed a 1% gain reported in February that had been revised down slightly from an earlier estimate of 1.1 percent.

ISM Manufacturing Index shows manufacturing continues to expand. The expansion was slower; 56.5 compared to 58.4 for January 2010. Anything over 0.5 is expansion.

Construction sector spending is contracting at a half the December pace. January construction spending month over month was -0.6% versus -1.2% in December.


Tuesday, March 2:
Auto sales.

Wednesday, March 3:
ADP Jobs Report
ISM non-manufacturing Index

Thursday, March 4:
Unemployment Claims
Productivity
Pending Home Sales

Friday, March 5:
Labor Dept Employment Report.

Market Outlook March 2
Just a 0.3% market rise will put the market in positive territory so far for this year.

Bill Clinton said, "It’s the economy stupid!"
Obama says, "It is not your money, it is the governments money that that they let you use.

Communists like Obama gain power by snatching economic depressions from the jaws of free enterprise success and most Americans now know that. Even traitorous Republicans need to be given the boot this November if they go along with Obama comi-care. America doesn't need a communist health care system when we can keep the best in the world. Health care costs surge while care declines whenever socialists get involved. That is why college tuition is so high today because the socialists subsidize mediocrity with government grants. Smart kids now get nothing because the 1950-60s scholarship based system was abolished by the socialists. That is right, as late as the 1960's student scholarship was rewarded often with full-tuition scholarships to state schools and fixed amounts to private colleges regardless of the student's father's income. That is how America got where we are. Now the socialists are polarizing the country by destroying the middle class while putting stupid socialists through school. And any non-socialist who has gone to college knows how the socialist teachers give D's and Fs to anyone who disagrees with them. So smart students either avoid the socialist basket weaving classes or fake socialism to get an "A" grade.

The short and interim market direction remains bullish. However, when the market rises close to the next high (in 1 to 3 months) it will likely be a critical time to take profits because FED tightening will likely be occurring soon after.

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 mixed over night; Shanghai down -0.5%, Hong Kong down -0.7%, India up 2.1%, and Japan up 0.5% again.

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 up 0.5% at 8:45 AM EST. It is seldom a good indicator of what will happen but we are due for a resumption of the up-trend. Today we could turn the market into positive territory again for this year.