Why is Obama covering up terror in the Gulf of Mexico?
BP Plc plunged the most in more than a year on concern the costs of containing a worsening oil spill in the Gulf of Mexico will escalate. BP Plc, Transocean Ltd. and Cameron International Corp. plunged after the U.S. Coast Guard said an oil well in the Gulf of Mexico is now leaking five thousand barrels a day. It is odd that the leftists opposed American offshore drilling and a week after Obama said it was ok an oil well blows up?
Decisions by homeowners to walk away from mortgages they can afford (but are underwater) are accounting for an increasing share of defaults, according to Morgan Stanley. They have reached 12% of mortgages, twice what Goldman told investors was the probable default rate and it is just one component of defaults.
Motorola, the largest U.S. mobile-phone maker rose in price after reporting no major loss for the quarter Palm Inc. surged 25 percent after Hewlett-Packard Co. agreed to buy the maker of Pre phones for about $1.2 billion or about 3X what it is worth. Now Motorola can be expected to be the next to go out of business due to short sellers.
P&G Quarterly Profit rose while Colgate's Profit fell.
ExxonMobil Net Income Climbed 38% on high oil prices bid up by futures traders.
Week's Economic Calendar
The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.
Housing 20 city Price Index showed home prices in six metropolitan areas were at their lowest levels in February since 2003. It was the fifth month of uninterrupted decline but was spun positively by the corrupt Wall Street media.
The Conference Board’s confidence index rose to 57.9 which is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street lies; you can get to make an honest assessment yourself by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
FOMC announcement: The FED signaled again that sustained job gains would be needed before the FED ends free-money commitment to bankers. There is a basic problem with the FED strategy. It was the strategy during the Jimmy Carter administration and it gave high unemployment with high inflation. It resulted in a "discomfort index" which was the sum of inflation plus unemployment.
One way to lower the "discomfort index" is to kick the unemployed off of unemployment so many fall off the unemployment roles. Since the U.S. recession began in December 2007, Congress has extended the duration of weekly unemployment benefits for the jobless three times to what is now 99 weeks. By June, hundreds of thousands of Americans will begin receiving their final government check and in short time it is projected to top 1 million.
Democrats who have supported past extensions have mounting concern over the federal deficit, projected to reach $1.5 trillion this year and exceed $10 trillion when Obamacare goes into effect. That is right, the government Obamacare agency stuffed with leftists union members who never held a real job will cost ten times as much as paying unemployed former workers. “You can’t go on forever,” said Senate Finance Committee Chairman Max Baucus, of Montana, whose panel oversees the benefits program. “I think 99 weeks is sufficient,” he said. “There’s just been no discussion to go beyond that,” said Senator Byron Dorgan, a North Dakota Democrat.
The Energy Information Administration reported that U.S. commercial crude oil inventories rose by 1.9 million barrels from the previous week. U.S. stockpiles, which stand at 357.8 million barrels, are over the upper limit of the average range for this time of year. The Oil glut continues because more tankers are being built to store oil in anticipation of rising prices and profits. Tanker storage takes the oil off the market causing oil prices to rise even faster. It creates the unstable disruptive oil price bubbles we have seen in the past. Both transportation and storage costs are a well-known form of waste completely at odds with just-in-time efficient processes. It is a way for corrupt speculators to get around laws meant to stop robber barons from cornering markets. Congress should tax oil tankers and storage facilities because clearly the bubbles it creates and subsequent economic chaos is too high a price to pay.
People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher.
Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell his shares at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and then even shorting oil investments right after he recommends them to his listeners. That makes sense to ethically challenged Wall Street thieves.
This is how Blankenstein and Jimmy apparently make fortunes off their reputations for making money. First buy today for my personal trust accounts, pump them tomorrow to my listeners and clients, dump them when they go up to my target level and my clients think I am a genius, and then short the recommendations if my listeners and clients drive the price up too high on my stupid recommendation. Jim Cramer even has a make believe jail sell for corporate executives who know his game and will not play along to profit by back stabbing the suckers who believe in them.
Yesterday
Unemployment claims
The number of people filing an initial claim for unemployment benefits declined by 11,000 in the week ended April 24 to a seasonally adjusted 448,000. It has begun to be reported that census workers get paid a few weeks for training and for a few weeks of work but then they are laid off by the government and are ineligible for unemployment. This is claimed to be one way some people are kept off of unemployment. Government jobs under socialism have always been based on what political party you belong to, do you carry the party's red flag at demonstrations, and who do you know in the local party commissar. That is what socialism is all about. It is a permanent underclass subservient to the party dictatorship. It is the redistribution of poverty. It works only if the whole world is socialist so no one knows that there is a better system of government. That is why all the demagogues hate America. They hate the example of innovation, tolerance, prosperity, and personal liberty that America sets as an example of a democratic republic based on laws not rigged 99% favorable "democratic" votes for a stupid drooling slob like Chavez in Venezuela.
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 30
The market was up yesterday on lower volume again indicating the volume adjusted top is still in place.
World Markets
Asian markets were up last night; Shanghai up 0.1%, Hong Kong up 1.6%, India up 0.3%, and Japan up 1.2%.
European markets are flat in the range from -0.4% to 0.3% this morning about half way through their day.
Again today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to corrupt. It is even worse than the EPA's global warming data, which if believable would have the world in a state of panic.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”
Friday, April 30, 2010
Thursday, April 29, 2010
Wall Street media hype amounts to fraud.
Wall Street media hype amounts to fraud.
People depend on the news media to tell the truth. The media hyped PALM as it hit record highs and until the "in-the-know" sold out and then shorted PALM until it collapsed. The news media is hyping every report this week. We cannot get into every one so lets just focus on one right now. Check the balance sheets not just the latest eked out earnings. See what squeezing out a small paper profit has done to the balance sheet of DOW Chemical. Over the last two years DOW Chemical's net tangible assets have crumbled over 90%. It declined 60% in 2008 and 84% in 2009. This disaster case is this week being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.
Kickbacks come in many forms such as advertising ads, commercials, new business, and in some cases insider information. The corporate credit raters are paid by the companies they rate… they get no business if they tell the truth about DOW Chemical. The Wall Street news media advertising drops to zero if they investigate and do not publish and validate the lying frauds being perpetrated every day.
Wall Street news firms are now clearly just as corrupt as Goldman and obviously the news services are getting advertising kick-backs to hype (to lie) and to deceive shareholders, investors, and the clients of Wall Street. The most incestuous and depraved of all is GE/MSNBC/Pravda where they nightly foam at the mouth against the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague in Venezuela, Honduras, Bolivia, and El Salvador. The Greek leftist's thugs riot in the streets and are tearing down any hope that intelligent hard working Greeks can regain control and balance their budget. Corruption and socialism are just the beginning and then government tyranny and the Gulag for anyone who points out the lies. We cannot sustain American Liberty with a corrupt media and a corrupt Wall Street giving socialists $millions to look the other way. Liberty is lost when the Republic is blamed for the corruption and the very groups corrupting the system have the money to buy their way into power. It can happen in America just as it did in Germany when Berlin happened to be the center of world science and culture and the National Socialists democratically took power and change the German constitution so that they could hold power without future democratic elections.
That is how the socialists do it. The scum and corruption of Venezuela democratically elected Chavez (a stupid and inarticulate man). He redistributed wealth to buy the popular vote to change the constitution so that he has a lifetime term and no longer needs to be democratically elected. That is exactly what the socialist Hitler did.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat. See:
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.
Housing 20 city Price Index showed home prices in six metropolitan areas were at their lowest levels in February since 2003. It was the fifth month of uninterrupted decline but was spun positively by the corrupt Wall Street media.
The Conference Board’s confidence index rose to 57.9 which is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street lies; you can get to make an honest assessment yourself by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
Yesterday
FOMC announcement: The FED signaled again that sustained job gains would be needed before the FED ends free-money commitment to bankers. There is a basic problem with the FED strategy. It was the strategy during the Jimmy Carter administration and it gave high unemployment with high inflation. It resulted in a "discomfort index" which was the sum of inflation plus unemployment.
One way to lower the "discomfort index" is to kick the unemployed off of unemployment so many fall off the unemployment roles. Since the U.S. recession began in December 2007, Congress has extended the duration of weekly unemployment benefits for the jobless three times to what is now 99 weeks. By June, hundreds of thousands of Americans will begin receiving their final government check and in short time it is projected to top 1 million.
Democrats who have supported past extensions have mounting concern over the federal deficit, projected to reach $1.5 trillion this year and exceed $10 trillion when Obamacare goes into effect. That is right, the government Obamacare agency stuffed with leftists union members who never held a real job will cost ten times as much as paying unemployed former workers. “You can’t go on forever,” said Senate Finance Committee Chairman Max Baucus, of Montana, whose panel oversees the benefits program. “I think 99 weeks is sufficient,” he said. “There’s just been no discussion to go beyond that,” said Senator Byron Dorgan, a North Dakota Democrat.
The Energy Information Administration reported that U.S. commercial crude oil inventories rose by 1.9 million barrels from the previous week. U.S. stockpiles, which stand at 357.8 million barrels, are over the upper limit of the average range for this time of year. The Oil glut continues because more tankers are being built to store oil in anticipation of rising prices and profits. Tanker storage takes the oil off the market causing oil prices to rise even faster. It creates the unstable disruptive oil price bubbles we have seen in the past. Both transportation and storage costs are a well-known form of waste completely at odds with just-in-time efficient processes. It is a way for corrupt speculators to get around laws meant to stop robber barons from cornering markets. Congress should tax oil tankers and storage facilities because clearly the bubbles it creates and subsequent economic chaos is too high a price to pay.
People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher.
Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell his shares at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and then even shorting oil investments right after he recommends them to his listeners. That makes sense to ethically challenged Wall Street thieves.
This is how Blankenstein and Jimmy apparently make fortunes off their reputations for making money. First buy today for my personal trust accounts, pump them tomorrow to my listeners and clients, dump them when they go up to my target level and my clients think I am a genius, and then short the recommendations if my listeners and clients drive the price up too high on my stupid recommendation. Jim Cramer even has a make believe jail sell for corporate executives who know his game and will not play along to profit by back stabbing the suckers who believe in them.
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 29
The market down trend is becoming more apparent now and it is Wall Street/Socialist corruption bringing down investor confidence. Corruption by socialism is the problem. The Republicans tend to give Wall Street freedom to make money. The socialists give them the freedom to steal because the socialists destroy liberty by proclaiming that liberty leads to corruption. But socialism is the corrupting institution and corrupt companies like Goldman Sucks contributes to the socialist much more than they ever did before the Democrat Congress forced bankers to loan money to people with no visible means to make mortgage payments.
World Markets
Asian markets were down again last night; Shanghai down -1.1%, Hong Kong down -0.8%, India up 0.7%, and Japan down -0.7%.
European markets are up in the range from 0.2% to 0.59% this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to corrupt. It is even worse than the EPA's global warming data, which if believable would have the world in a state of panic.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”
People depend on the news media to tell the truth. The media hyped PALM as it hit record highs and until the "in-the-know" sold out and then shorted PALM until it collapsed. The news media is hyping every report this week. We cannot get into every one so lets just focus on one right now. Check the balance sheets not just the latest eked out earnings. See what squeezing out a small paper profit has done to the balance sheet of DOW Chemical. Over the last two years DOW Chemical's net tangible assets have crumbled over 90%. It declined 60% in 2008 and 84% in 2009. This disaster case is this week being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.
Kickbacks come in many forms such as advertising ads, commercials, new business, and in some cases insider information. The corporate credit raters are paid by the companies they rate… they get no business if they tell the truth about DOW Chemical. The Wall Street news media advertising drops to zero if they investigate and do not publish and validate the lying frauds being perpetrated every day.
Wall Street news firms are now clearly just as corrupt as Goldman and obviously the news services are getting advertising kick-backs to hype (to lie) and to deceive shareholders, investors, and the clients of Wall Street. The most incestuous and depraved of all is GE/MSNBC/Pravda where they nightly foam at the mouth against the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague in Venezuela, Honduras, Bolivia, and El Salvador. The Greek leftist's thugs riot in the streets and are tearing down any hope that intelligent hard working Greeks can regain control and balance their budget. Corruption and socialism are just the beginning and then government tyranny and the Gulag for anyone who points out the lies. We cannot sustain American Liberty with a corrupt media and a corrupt Wall Street giving socialists $millions to look the other way. Liberty is lost when the Republic is blamed for the corruption and the very groups corrupting the system have the money to buy their way into power. It can happen in America just as it did in Germany when Berlin happened to be the center of world science and culture and the National Socialists democratically took power and change the German constitution so that they could hold power without future democratic elections.
That is how the socialists do it. The scum and corruption of Venezuela democratically elected Chavez (a stupid and inarticulate man). He redistributed wealth to buy the popular vote to change the constitution so that he has a lifetime term and no longer needs to be democratically elected. That is exactly what the socialist Hitler did.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat. See:
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.
Housing 20 city Price Index showed home prices in six metropolitan areas were at their lowest levels in February since 2003. It was the fifth month of uninterrupted decline but was spun positively by the corrupt Wall Street media.
The Conference Board’s confidence index rose to 57.9 which is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street lies; you can get to make an honest assessment yourself by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
Yesterday
FOMC announcement: The FED signaled again that sustained job gains would be needed before the FED ends free-money commitment to bankers. There is a basic problem with the FED strategy. It was the strategy during the Jimmy Carter administration and it gave high unemployment with high inflation. It resulted in a "discomfort index" which was the sum of inflation plus unemployment.
One way to lower the "discomfort index" is to kick the unemployed off of unemployment so many fall off the unemployment roles. Since the U.S. recession began in December 2007, Congress has extended the duration of weekly unemployment benefits for the jobless three times to what is now 99 weeks. By June, hundreds of thousands of Americans will begin receiving their final government check and in short time it is projected to top 1 million.
Democrats who have supported past extensions have mounting concern over the federal deficit, projected to reach $1.5 trillion this year and exceed $10 trillion when Obamacare goes into effect. That is right, the government Obamacare agency stuffed with leftists union members who never held a real job will cost ten times as much as paying unemployed former workers. “You can’t go on forever,” said Senate Finance Committee Chairman Max Baucus, of Montana, whose panel oversees the benefits program. “I think 99 weeks is sufficient,” he said. “There’s just been no discussion to go beyond that,” said Senator Byron Dorgan, a North Dakota Democrat.
The Energy Information Administration reported that U.S. commercial crude oil inventories rose by 1.9 million barrels from the previous week. U.S. stockpiles, which stand at 357.8 million barrels, are over the upper limit of the average range for this time of year. The Oil glut continues because more tankers are being built to store oil in anticipation of rising prices and profits. Tanker storage takes the oil off the market causing oil prices to rise even faster. It creates the unstable disruptive oil price bubbles we have seen in the past. Both transportation and storage costs are a well-known form of waste completely at odds with just-in-time efficient processes. It is a way for corrupt speculators to get around laws meant to stop robber barons from cornering markets. Congress should tax oil tankers and storage facilities because clearly the bubbles it creates and subsequent economic chaos is too high a price to pay.
People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher.
Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell his shares at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and then even shorting oil investments right after he recommends them to his listeners. That makes sense to ethically challenged Wall Street thieves.
This is how Blankenstein and Jimmy apparently make fortunes off their reputations for making money. First buy today for my personal trust accounts, pump them tomorrow to my listeners and clients, dump them when they go up to my target level and my clients think I am a genius, and then short the recommendations if my listeners and clients drive the price up too high on my stupid recommendation. Jim Cramer even has a make believe jail sell for corporate executives who know his game and will not play along to profit by back stabbing the suckers who believe in them.
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 29
The market down trend is becoming more apparent now and it is Wall Street/Socialist corruption bringing down investor confidence. Corruption by socialism is the problem. The Republicans tend to give Wall Street freedom to make money. The socialists give them the freedom to steal because the socialists destroy liberty by proclaiming that liberty leads to corruption. But socialism is the corrupting institution and corrupt companies like Goldman Sucks contributes to the socialist much more than they ever did before the Democrat Congress forced bankers to loan money to people with no visible means to make mortgage payments.
World Markets
Asian markets were down again last night; Shanghai down -1.1%, Hong Kong down -0.8%, India up 0.7%, and Japan down -0.7%.
European markets are up in the range from 0.2% to 0.59% this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to corrupt. It is even worse than the EPA's global warming data, which if believable would have the world in a state of panic.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”
Wednesday, April 28, 2010
Wall Street is run by moral idiots who think they are a world aristocracy!
Wall Street is run by moral idiots who think they are a world aristocracy!
Over the last two years DOW Chemical's net tangible assets have crumbled over 90%. It declined 60% in 2008 and 84% in 2009. This disaster case is today being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.
Interest on credit default swaps now insuring the Goldman’s debt against potential default widened to about 180 basis points from 167 basis points late Monday, according to data from Phoenix Partners Group. That is about an 8% rise in debt payments for Goldman. Goldman is the only bank that profited from the fraudulent mortgage derivative scheme. However at many of the banks, the idiot-savants who ran the schemes and their (see, hear and speak no evil) unethical monkey management made fortunes at the expense of their clients, shareholders, and their honest lower paid employees. Their thievery burned teachers and elderly across America as well as little fishing villages as far away as Norway. It is time for the US Congress to claw back the money those thieves took and put them in jail if it is not repaid in full. Those managers got paid for failure and for the silence that facilitated the stealing of taxpayer earnings.
Wall Street news firms are now clearly as corrupt as Goldman and obviously the news services are getting kick-backs to hype the truth (to lie) and to deceive shareholders, investors, and the clients of Wall Street. The most incestuous and depraved of all is GE/MSNBC/Pravda where they nightly foam at the mouth about the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague rates in Venezuela, Honduras, Bolivia, and El Salvador. The Greek leftist's thugs riot in the streets and are tearing down any hope that intelligent hard working Greeks can regain control and balance their budget. That is the equality the leftists want. They truly believe they are in better touch with life and that their loony beliefs are worth the poverty it has brought them and the poverty it will bring all Greek people if they do not stop the lunatic left.
Modern bankers like Mr. Blankmind the CEO of Goldman Sucks have become inbred idiots like the European Aristocracy when America won independence from them. Ethics and a conscience have been bred out of them. They are worse than mindless used car salesmen who sell junk to the world. They sell cars without brakes to poor widows and orphans in Norway fishing villages and then take out life insurance on the people using the vehicles they sold. They want all their customers to end up dead because that is how they make their money. Goldman Sucks had inside knowledge that the mortgage derivatives were worthless and bet against them without reporting the problem so that the FED could prevent a total collapse. Their corporate motto is, "There is a sucker born every minute." They gave $1million to the Obama election campaign so don't expect the socialists will harm Goldman in any way. Besides the lunatic left would rather blow up oil rigs.
One thing that unites all Americans is the hope that many WS bankers like Blankenstein must go to jail before America has any confidence in the government, the FED, and the Treasury. Any Republican who opposes the crushing of this Wall Street Frankenstein stinking moral hazard will go the same way as all the American liberty-despising congressional socialists in November 2010.
CAT's trailing PE is now50.97 and its PEG is now infinite. CAT is overpriced by more than a factor of two relative to 2008 before the bubble burst. Yet it was reported to be good news because CAT finally made a small profit after 1.75 years. The stock market is now being held high by pure hype and incompetent advice primarily from Bloomberg, GE/ MSNBC/Pravda, and Jim Cramer of MSNBC's MadMoney.
World Outlook
The lunatic left invented the word sabotage. The early French socialists tried to destroy French industry by throwing their wooden shoes (sabots) into the industrial machinery. Hence the destruction was sabotage caused by socialist saboteurs. The oil rig that was recently blown up that killed five people and is now polluting the Gulf is the obvious work of leftist saboteurs using a small amount of explosives and striking in the night. Al Quaeda is a leftist terrorist group seeking to economically cripple America. Oil rigs are the easiest targets and it works hand in hand with leftist lunatics who want to discredit free enterprise, destroy American liberty, and install socialist government tyranny throughout the world.
People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher. Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell them at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and even shorting oil investments as he recommends them to his listeners. Blankstein of Goldman Sucks told the US Senate yesterday that he sees no conflict in doing that just. That is how Wall Street executive slime profits while everyone else suffers.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat. See:
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.
Yesterday
Housing 20 city Price Index S&P's David Blitzer warned it is "too early to say that the housing market is recovering." He noted home prices in six metropolitan areas were at their lowest levels in February since they peaked several years ago.
The Conference Board’s confidence index rose to 57.9, exceeding all forecasts of fools surveyed by Bloomberg News and is at the highest level since Lehman Brothers Inc. collapsed in September 2008… according to the Bloomberg bullshit idiot-savant interpretation of the data. Actually confidence is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street bullshit; you can get to make an honest assessment by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 28
The volume corrected NYSE index dropped sharply yesterday as volume surged 30%. Our headline yesterday was "Is today the day an overdue sharp sell-off begins?"
World Markets
Asian markets were down sharply again last night; Shanghai down -0.3%, Hong Kong down -1.5%, India down -1.8%, and Japan down -2.6%.
European markets were down more than 2% yesterday and are again down sharply in the range from -0% to -2.5 % this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to manipulate.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”
Over the last two years DOW Chemical's net tangible assets have crumbled over 90%. It declined 60% in 2008 and 84% in 2009. This disaster case is today being hyped as a success story by the Wall Street media and GE/MSNBC/Pravda.
Interest on credit default swaps now insuring the Goldman’s debt against potential default widened to about 180 basis points from 167 basis points late Monday, according to data from Phoenix Partners Group. That is about an 8% rise in debt payments for Goldman. Goldman is the only bank that profited from the fraudulent mortgage derivative scheme. However at many of the banks, the idiot-savants who ran the schemes and their (see, hear and speak no evil) unethical monkey management made fortunes at the expense of their clients, shareholders, and their honest lower paid employees. Their thievery burned teachers and elderly across America as well as little fishing villages as far away as Norway. It is time for the US Congress to claw back the money those thieves took and put them in jail if it is not repaid in full. Those managers got paid for failure and for the silence that facilitated the stealing of taxpayer earnings.
Wall Street news firms are now clearly as corrupt as Goldman and obviously the news services are getting kick-backs to hype the truth (to lie) and to deceive shareholders, investors, and the clients of Wall Street. The most incestuous and depraved of all is GE/MSNBC/Pravda where they nightly foam at the mouth about the American Tea Party and sing their loony tunes of their leftist Nazi and Communists friends rising like plague rates in Venezuela, Honduras, Bolivia, and El Salvador. The Greek leftist's thugs riot in the streets and are tearing down any hope that intelligent hard working Greeks can regain control and balance their budget. That is the equality the leftists want. They truly believe they are in better touch with life and that their loony beliefs are worth the poverty it has brought them and the poverty it will bring all Greek people if they do not stop the lunatic left.
Modern bankers like Mr. Blankmind the CEO of Goldman Sucks have become inbred idiots like the European Aristocracy when America won independence from them. Ethics and a conscience have been bred out of them. They are worse than mindless used car salesmen who sell junk to the world. They sell cars without brakes to poor widows and orphans in Norway fishing villages and then take out life insurance on the people using the vehicles they sold. They want all their customers to end up dead because that is how they make their money. Goldman Sucks had inside knowledge that the mortgage derivatives were worthless and bet against them without reporting the problem so that the FED could prevent a total collapse. Their corporate motto is, "There is a sucker born every minute." They gave $1million to the Obama election campaign so don't expect the socialists will harm Goldman in any way. Besides the lunatic left would rather blow up oil rigs.
One thing that unites all Americans is the hope that many WS bankers like Blankenstein must go to jail before America has any confidence in the government, the FED, and the Treasury. Any Republican who opposes the crushing of this Wall Street Frankenstein stinking moral hazard will go the same way as all the American liberty-despising congressional socialists in November 2010.
CAT's trailing PE is now50.97 and its PEG is now infinite. CAT is overpriced by more than a factor of two relative to 2008 before the bubble burst. Yet it was reported to be good news because CAT finally made a small profit after 1.75 years. The stock market is now being held high by pure hype and incompetent advice primarily from Bloomberg, GE/ MSNBC/Pravda, and Jim Cramer of MSNBC's MadMoney.
World Outlook
The lunatic left invented the word sabotage. The early French socialists tried to destroy French industry by throwing their wooden shoes (sabots) into the industrial machinery. Hence the destruction was sabotage caused by socialist saboteurs. The oil rig that was recently blown up that killed five people and is now polluting the Gulf is the obvious work of leftist saboteurs using a small amount of explosives and striking in the night. Al Quaeda is a leftist terrorist group seeking to economically cripple America. Oil rigs are the easiest targets and it works hand in hand with leftist lunatics who want to discredit free enterprise, destroy American liberty, and install socialist government tyranny throughout the world.
People around the world are conserving energy and China is rapidly expanding their coal reserves. Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher. Of course with oil prices and stocks at a high, Jim Cramer is touting the industry so he can sell them at a high profit. He tells the truth when he says he owns them, but like Goldman Sucks he may be selling out and even shorting oil investments as he recommends them to his listeners. Blankstein of Goldman Sucks told the US Senate yesterday that he sees no conflict in doing that just. That is how Wall Street executive slime profits while everyone else suffers.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat. See:
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
The Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7-year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists. But the leftists in Greece are rioting and that makes America a safer haven for cash even with Obama socialists running amuck.
Yesterday
Housing 20 city Price Index S&P's David Blitzer warned it is "too early to say that the housing market is recovering." He noted home prices in six metropolitan areas were at their lowest levels in February since they peaked several years ago.
The Conference Board’s confidence index rose to 57.9, exceeding all forecasts of fools surveyed by Bloomberg News and is at the highest level since Lehman Brothers Inc. collapsed in September 2008… according to the Bloomberg bullshit idiot-savant interpretation of the data. Actually confidence is statistically the same as it was three months ago and yes as low as when Wall Street imploded. The measure was at 110 in 2007 almost double what it is today. You don't need to listen to Wall Street bullshit; you can get to make an honest assessment by plugging in the new data at the following site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 28
The volume corrected NYSE index dropped sharply yesterday as volume surged 30%. Our headline yesterday was "Is today the day an overdue sharp sell-off begins?"
World Markets
Asian markets were down sharply again last night; Shanghai down -0.3%, Hong Kong down -1.5%, India down -1.8%, and Japan down -2.6%.
European markets were down more than 2% yesterday and are again down sharply in the range from -0% to -2.5 % this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are therefore meaningless disinformation just like the manipulated trade volumes reported so often. We will no longer report data that is so easy to manipulate.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week by Streetsmart Sy Harding @ http://www.streetsmartpost.com/2010/04/27/the-stench-worsens/
Headline Monday "Are Major Financial Firms Manipulating the U.S. Market?"
Headline Tuesday “The Stench Worsens!”
Tuesday, April 27, 2010
Is today the day an overdue sharp sell-off begins?
Modern bankers have become inbred idiots like the European Aristocracy when America won independence from them. One thing that unites all Americans is is an expectation that many on Wall Street will go to jail before America has any confidence in the government, the FED, and the Treasury. Any Republican who opposes the prison containment of the stinking Wall Street moral hazards will be voted out in November 2010 along with the American liberty despising socialists. Good people everywhere think that if the Wall Street monkeys want to be paid like an aristocracy then they should lose their heads like the aristocracy.
Goldman Sachs Group Inc., the only company to profit from the collapse of the housing and derivatives markets, will face off again against a U.S. Senate subcommittee today in a pivotal hearing that could have repercussions for the future of the financial industry. Goldman had inside knowledge that the mortgage derivatives were worthless and bet against them without reporting the problem so that the FED could prevent a total collapse.
CAT price was as high yesterday as it was in 2008 when its earnings were four times as high as it is now. The training PE is 50.97 and while it's PEG is infinite its 5 year best possible estimate says it could get down to a PEG of 1.6. Generally 1 to 2 is mediocre and over 2 is a poor PEG ratio. This means CAT is overpriced by more than a factor of two relative to 2008 before the bubble burst. Yet it was reported to be good news because CAT finally made a small profit after 1.75 years. The stock market is now being held high by pure hype and nonsense advice.
The stock Market remains at a record overbought level as $trillions of taxpayer money is squandered by the socialists who plan to put a neo-communist woman on the Supreme Court. Communists think they represent a segment of the people who are above the law. In America we have always had justices who have kept America a government of laws not a government that is sometimes a majority but historically transitions to a small minority. The Nazi and Communist type political machines seldom have exceeded 1% of the victim country’s population when dictatorship was established.
World Outlook
Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
Yesterday the Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7 year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists.
Tuesday, April 27:
Housing 20 city Price Index
Consumer Confidence
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 27
The volume corrected NYSE index continues to be a few percent below the high that was first set in September of 2009. There is no valid transaction volume reported for the other indexes. Why does the SEC allow fictitious transaction volumes to be reported? We have computers today and truth can be easily published instead of Wall Street fabrications? Allowing the reporting of fictitious trading volume is just the tip of the iceberg.
World Markets
Asian markets were down sharply last night; Shanghai down -2.1%, Hong Kong down -1.5%, India down -0.3%, and New Zealand down -0.4%.
European markets are down sharply in the range from -0.7% to -1.7 % this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are down 0.1% to 0.3% at 8:30 AM EST. The market valuations establish asset values so manipulating the values higher allows a firm to increase its leverage and take on higher risks. The problem is growing because the FED is having US taxpayers absorb the risks by bailing those deemed too big to fail. That just encourages speculation. The banks long ago depended on people who saved money. Now the banks get essentially free money from taxpayers channeled through the FED and Treasury. Then the self appointed bank morons have their appointed directors give them big bonuses because they think they are so smart and they think the US voters, the US Congress and the US President are obviously shills that they can shake down.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week Sy Harding asks, "Are Major Financial Firms Manipulating the U.S. Market?"
Goldman Sachs Group Inc., the only company to profit from the collapse of the housing and derivatives markets, will face off again against a U.S. Senate subcommittee today in a pivotal hearing that could have repercussions for the future of the financial industry. Goldman had inside knowledge that the mortgage derivatives were worthless and bet against them without reporting the problem so that the FED could prevent a total collapse.
CAT price was as high yesterday as it was in 2008 when its earnings were four times as high as it is now. The training PE is 50.97 and while it's PEG is infinite its 5 year best possible estimate says it could get down to a PEG of 1.6. Generally 1 to 2 is mediocre and over 2 is a poor PEG ratio. This means CAT is overpriced by more than a factor of two relative to 2008 before the bubble burst. Yet it was reported to be good news because CAT finally made a small profit after 1.75 years. The stock market is now being held high by pure hype and nonsense advice.
The stock Market remains at a record overbought level as $trillions of taxpayer money is squandered by the socialists who plan to put a neo-communist woman on the Supreme Court. Communists think they represent a segment of the people who are above the law. In America we have always had justices who have kept America a government of laws not a government that is sometimes a majority but historically transitions to a small minority. The Nazi and Communist type political machines seldom have exceeded 1% of the victim country’s population when dictatorship was established.
World Outlook
Crude oil is at the highest inventory level since September 1990. Last week the oil glut was up by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels when the economy was stalled, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb. The explosion of a rig in the Gulf will however drive the costs of drilling oil higher.
Contrary to what Jim Cramer hypes, the Baltic index says world trade is not recovering; it is down 70% and flat.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Week's Economic Calendar
Yesterday the Treasury bill auction held another record breaking amount as nearly 150 billion were auctioned between 3 months to 7 year duration. The overall Bid/cover has been very healthy at 2.9 and even with Chinese sitting out. America is falling deeper into debt at the fastest rate since the last World War against the Nazis and the Japanese imperialists.
Tuesday, April 27:
Housing 20 city Price Index
Consumer Confidence
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 27
The volume corrected NYSE index continues to be a few percent below the high that was first set in September of 2009. There is no valid transaction volume reported for the other indexes. Why does the SEC allow fictitious transaction volumes to be reported? We have computers today and truth can be easily published instead of Wall Street fabrications? Allowing the reporting of fictitious trading volume is just the tip of the iceberg.
World Markets
Asian markets were down sharply last night; Shanghai down -2.1%, Hong Kong down -1.5%, India down -0.3%, and New Zealand down -0.4%.
European markets are down sharply in the range from -0.7% to -1.7 % this morning about half way through their day.
Today US pre-market futures appear highly manipulated again and are down 0.1% to 0.3% at 8:30 AM EST. The market valuations establish asset values so manipulating the values higher allows a firm to increase its leverage and take on higher risks. The problem is growing because the FED is having US taxpayers absorb the risks by bailing those deemed too big to fail. That just encourages speculation. The banks long ago depended on people who saved money. Now the banks get essentially free money from taxpayers channeled through the FED and Treasury. Then the self appointed bank morons have their appointed directors give them big bonuses because they think they are so smart and they think the US voters, the US Congress and the US President are obviously shills that they can shake down.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week Sy Harding asks, "Are Major Financial Firms Manipulating the U.S. Market?"
Monday, April 26, 2010
Obama is an inspiration socialist nazi style dictatorships, El Salvador, Honduras…Venezuela.
Obama is an inspiration socialist nazi style dictatorships, El Salvador, Honduras…Venezuela.
Where Obama goes the axis of evil grows!
Is it a coincidence that the socialist Nazis type groups are growing in power now that Obama has power? It is further proof that the extremes of socialism are Nazi right wing and Communist left wing. In the American republic our extremes of "The Republic" are Jefferson on the left and Hamilton in the right wing. Why does Obama want to change the Constitution to destroy the Republic and make America a socialist tyranny like his Nigerian and Indonesian homelands?
Why is it that Obama has no legal American Birth Certificate that he can publicly produce? Did his mother lose it or is it because he fraudulently obtained one as hundreds of others do each year on the streets of almost every American city? If he will not publicly produce proof that he was born in one of the 50 American states his presidency is illegal and he should be thrown out and imprisoned not impeached. An impostor has no presidential standing. In America just being a citizen does not qualify you to run for office. To be president you must actually be born on the ground in one if the 50 states. Being born in an airplane flying over Hawaiian airspace does not qualify.
The stock Market remains at a record overbought level as $trillions of taxpayer money is squandered by the socialists who plan to put a neo-communist woman on the Supreme Court.
World Outlook
Crude oil is at the highest inventory level since September 1990. They rose by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb.
Week's Economic Calendar
Monday, April 26:
Treasury bill auction
Tuesday, April 27:
Housing 20 city Price Index
Consumer Confidence
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 26
The volume corrected NYSE index continues to be a few percent below the high that was first set in September of 2009. There is no valid transaction volume reported for the other indexes. Why does the SEC allow fictitious transaction volumes to be reported? We have computers today and truth can be easily published instead of Wall Street fabrications?
World Markets
Asian markets were up last night; Shanghai down -0.5%, Hong Kong up 1.6%, India up 0.3%, and Japan up 2.3%.
European markets are currently up in the range from 0.5% to 1.2 % this morning about half way through their day.
Today US pre-market futures are up 0.8% to 1% at 8:30 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week Sy Harding asks, "Are Major Financial Firms Manipulating the U.S. Market?"
Where Obama goes the axis of evil grows!
Is it a coincidence that the socialist Nazis type groups are growing in power now that Obama has power? It is further proof that the extremes of socialism are Nazi right wing and Communist left wing. In the American republic our extremes of "The Republic" are Jefferson on the left and Hamilton in the right wing. Why does Obama want to change the Constitution to destroy the Republic and make America a socialist tyranny like his Nigerian and Indonesian homelands?
Why is it that Obama has no legal American Birth Certificate that he can publicly produce? Did his mother lose it or is it because he fraudulently obtained one as hundreds of others do each year on the streets of almost every American city? If he will not publicly produce proof that he was born in one of the 50 American states his presidency is illegal and he should be thrown out and imprisoned not impeached. An impostor has no presidential standing. In America just being a citizen does not qualify you to run for office. To be president you must actually be born on the ground in one if the 50 states. Being born in an airplane flying over Hawaiian airspace does not qualify.
The stock Market remains at a record overbought level as $trillions of taxpayer money is squandered by the socialists who plan to put a neo-communist woman on the Supreme Court.
World Outlook
Crude oil is at the highest inventory level since September 1990. They rose by another 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. Yet the price of gasoline is near $3 per gallon. Oil investments therefore are likely to decline as inventories continue to climb.
Week's Economic Calendar
Monday, April 26:
Treasury bill auction
Tuesday, April 27:
Housing 20 city Price Index
Consumer Confidence
Wednesday, April 28:
FOMC announcement
Crude inventories
Thursday, April 29
Unemployment claims
Friday, April 30:
GDP
Mich. Consumer Sentiment
Market Outlook April 26
The volume corrected NYSE index continues to be a few percent below the high that was first set in September of 2009. There is no valid transaction volume reported for the other indexes. Why does the SEC allow fictitious transaction volumes to be reported? We have computers today and truth can be easily published instead of Wall Street fabrications?
World Markets
Asian markets were up last night; Shanghai down -0.5%, Hong Kong up 1.6%, India up 0.3%, and Japan up 2.3%.
European markets are currently up in the range from 0.5% to 1.2 % this morning about half way through their day.
Today US pre-market futures are up 0.8% to 1% at 8:30 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, our most comprehensive measure of market valuation reached a price-to-normalized earnings multiple of 19.1, exceeding the peaks of August 1987 (18.6) and December 1973 (18.3). Outside of the valuations achieved during the late 1990's bubble and the approach to the 2007 market peak, the only other historical observation exceeding the current level of valuation was the extreme of 20.1 reached just prior to the 1929 crash. The corollary to this level of rich valuation is that our projection for 10-year total returns for the S&P 500 is now just 5.3% annually. "
This week Sy Harding asks, "Are Major Financial Firms Manipulating the U.S. Market?"
Friday, April 23, 2010
The stock Market remains at a record overbought level
The stock Market remains at a record overbought level as $trillions of taxpayer money is squandered by the socialists who plan to put a neo-communist woman on the Supreme Court.
World Outlook
U.S. stock-index futures declined as Greece and Ireland led a surge in the euro region’s budget deficit, re-igniting concern that mounting government debt may derail the economic recovery.
Rising crude oil inventories provide little incentive for buying oil futures.
Week's Economic Calendar
Apr 19 Leading Indicators were higher again. One reason for this is because the indicators are incestuous since one it is the Stock Market itself.
Recently:
Wall Street continues to fabricate the strength of profits seasonally adjusted or not… depending on which fools the investors more. Wall Street wants the companies to make optimistic predictions but Wall Street then low-balls its expectations just before the earnings announcements to deceive investors into thinking stocks are booming and thus exceeding expectations. The economy is not booming, instead default rates are going down because banks are foreclosing at a faster rate now than ever before.
:
Crude inventories rose more than forecast last week while gasoline inventories jumped despite expectations for a dip, according to government data released Wednesday. Crude inventories rose by 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. That is the highest inventory level since September 1990. Oil investments therefore are likely to decline as inventories continue to climb.
Apr 22 Initial Claims 04/17 dropped to 456000 down from 480,000 the previous month. When G W Bush was in office we all remember that the socialists would go on a rampage any time it got higher than 50,000. GW Bush inherited the tech bubble crisis of 2000 from Clinton but the socialists only blamed Bush. Remember the Enron and Worldcom scandals of the Clinton economic collapse? Bush never blamed anyone he just went about getting Americans working again. Then after the socialists got into office the continue to blame Bush while the run a deficit that will accumulate to ten time what GW Bush had in his eight years. The socialists are bankrupting America but still blame Bush for what Clinton and Obama have done. The socialist WMD (weapons of mass destruction) of the American economy are lies, lies, and more lies. Obama blames Bush instead of focussing on what Obama cam do to stimulate free enterprise instead of stimulating government waste, ACORN Nazis, and the Union's highway robbery of federal stimulation $trillion of funds.
Apr 22 Continuing Claims dropped by 40,000 because Congress was slow by one month in extending unemployment claims. Unemployment claims can now be paid for the longest period ever in American history. During the Great Depression there was no unemployment insurance so people had to look hard for work and depend on American charity. No one starved and everyone was grateful to find work.
Apr 22 Producer Price Index rose 0.7% in March which is at a very high 9.8% annual interest rate.
Apr 22 8:30 AM Core Producer Price Index for Mar (excluding food, energy and everything humans need except clothing and housing rose 0.1% or at 1.2% per year. The core rate is what politicians use to fool the public into thinking there is no inflation so that they can justify cutting Social Security for seniors. In the 1970's under Jimmy Carter inflation rose to over 16% per year and Social Security was cut so low that many poorer senior citizens bought high protein dog food to live on.
Apr 22 10:00 AM Sales of Existing Home rose in March to 5.35 million up from 5.01 million in February. That is a seasonal adjustment because home sales are always lowest in the winter months and highest in the summer.
Apr 22 10:00 AM FHFA Home Price Index for February dropped another 0.2%. Not good!
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 23
Thursday the broader NYSE declined modestly again on slightly higher than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be a few percent below the high that was first set in September of 2009.
World Markets
Asian markets were down again last night; Shanghai down -0.6%, Hong Kong down -1%, India up 0.7%, and Japan down -0.3%.
European markets are currently up in the range from 0.4% to 1.2 % this morning about half way through their day.
Today US pre-market futures are up 0.2% to 0.3% at 8:00 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing). "
World Outlook
U.S. stock-index futures declined as Greece and Ireland led a surge in the euro region’s budget deficit, re-igniting concern that mounting government debt may derail the economic recovery.
Rising crude oil inventories provide little incentive for buying oil futures.
Week's Economic Calendar
Apr 19 Leading Indicators were higher again. One reason for this is because the indicators are incestuous since one it is the Stock Market itself.
Recently:
Wall Street continues to fabricate the strength of profits seasonally adjusted or not… depending on which fools the investors more. Wall Street wants the companies to make optimistic predictions but Wall Street then low-balls its expectations just before the earnings announcements to deceive investors into thinking stocks are booming and thus exceeding expectations. The economy is not booming, instead default rates are going down because banks are foreclosing at a faster rate now than ever before.
:
Crude inventories rose more than forecast last week while gasoline inventories jumped despite expectations for a dip, according to government data released Wednesday. Crude inventories rose by 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. That is the highest inventory level since September 1990. Oil investments therefore are likely to decline as inventories continue to climb.
Apr 22 Initial Claims 04/17 dropped to 456000 down from 480,000 the previous month. When G W Bush was in office we all remember that the socialists would go on a rampage any time it got higher than 50,000. GW Bush inherited the tech bubble crisis of 2000 from Clinton but the socialists only blamed Bush. Remember the Enron and Worldcom scandals of the Clinton economic collapse? Bush never blamed anyone he just went about getting Americans working again. Then after the socialists got into office the continue to blame Bush while the run a deficit that will accumulate to ten time what GW Bush had in his eight years. The socialists are bankrupting America but still blame Bush for what Clinton and Obama have done. The socialist WMD (weapons of mass destruction) of the American economy are lies, lies, and more lies. Obama blames Bush instead of focussing on what Obama cam do to stimulate free enterprise instead of stimulating government waste, ACORN Nazis, and the Union's highway robbery of federal stimulation $trillion of funds.
Apr 22 Continuing Claims dropped by 40,000 because Congress was slow by one month in extending unemployment claims. Unemployment claims can now be paid for the longest period ever in American history. During the Great Depression there was no unemployment insurance so people had to look hard for work and depend on American charity. No one starved and everyone was grateful to find work.
Apr 22 Producer Price Index rose 0.7% in March which is at a very high 9.8% annual interest rate.
Apr 22 8:30 AM Core Producer Price Index for Mar (excluding food, energy and everything humans need except clothing and housing rose 0.1% or at 1.2% per year. The core rate is what politicians use to fool the public into thinking there is no inflation so that they can justify cutting Social Security for seniors. In the 1970's under Jimmy Carter inflation rose to over 16% per year and Social Security was cut so low that many poorer senior citizens bought high protein dog food to live on.
Apr 22 10:00 AM Sales of Existing Home rose in March to 5.35 million up from 5.01 million in February. That is a seasonal adjustment because home sales are always lowest in the winter months and highest in the summer.
Apr 22 10:00 AM FHFA Home Price Index for February dropped another 0.2%. Not good!
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 23
Thursday the broader NYSE declined modestly again on slightly higher than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be a few percent below the high that was first set in September of 2009.
World Markets
Asian markets were down again last night; Shanghai down -0.6%, Hong Kong down -1%, India up 0.7%, and Japan down -0.3%.
European markets are currently up in the range from 0.4% to 1.2 % this morning about half way through their day.
Today US pre-market futures are up 0.2% to 0.3% at 8:00 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing). "
Thursday, April 22, 2010
Big government is the biggest problem. Socialism is the religion of atheism. Nothing is too big to fail.
Big government is the biggest problem. Socialism is the religion of atheism. Nothing is too big to fail.
If governments continue to bail out their big banks then the governments fail just as the Communist regime of the Soviet Union failed in 1989. China was one ongoing failure for about 500 years until it adopted freedoms learned from the take-over of Hong Kong after their 100 year lease of that previously worthless island to Great Britain. Great Britain had made the island of Hong Kong one of the most prosperous cities in the world.
Communism is a particularly mean extreme form of socialism. Fascism is the other mean extreme form of socialism. All forms of socialism wander between these two extreme forms. America has been the world experiment in liberty that has so far lasted more than 300 years, the longest ever for any place on earth. Obama said he wants Americans to change the American Constitution to make America like socialist Europe, Asia, South America, and Africa. He wants a Supreme Court that is not based on law but is sympathetic to people who want big government to take care of all their needs. Socialism is the religion of atheism not a successful economic form of government. Socialism is a form of Christianity without any God. Early Christian experiments had communes that collected from each according to his ability to redistribute to each according to his needs. The Mayflower colony was exactly that religious form of socialism until half the colony starved to death. Then the Pilgrims changed: to each according to his works from each according to his charity and love of others. Karl Marx stole the idea of Communism from European Christian collectivist socialism. He said, "From each according to his ability, to each according to his needs." That is what all Christian communes said, but Karl Marx stripped out the Christian concept of a loving God that was the basis for Christian sharing of God's love. Police force, the Gulag, the Siberian death camps, and the horror of Mao's "Cultural Revolution" became the process for conversion (re-education) of people to Communism.
Under Obama the banks can now pretty much dial any ostentatious profit they choose. How much money they invest is only limited to how much low interest taxpayer money they choose to borrow. As far as risk goes, they have none at this time. They invest in treasuries which then raise the money the FED uses to loan the banks even more money. It is not that Wall Street is filled with geniuses that makes banks like Goldman Sachs profitable. It is that government officials are so stupid in letting them be greedy and take bonuses while they do nothing to help homeowners who are underwater. Meanwhile banks have the homeowners as victims to milk dry with new forms of fixed charges. We have Obama to thank for all the new bank tricks used to make Americans late in payments so they can be charged bank interest that often exceeds 20% while banks only borrow at 0.5% interest at the expense of American taxpayers. We have Obama to thank for our failing infrastructure. The bridges around Boston are rusting and the concrete piers are crumbling exposing rusting steel reinforcing in the cement. The trillions of dollars are going down the rat-holes of socialist Obama experiments investing in the likes of ACORN, big unions and big corrupt banks with incompetent socialist executives who contribute millions to socialist candidates.
World Outlook
U.S. stock-index futures declined as Greece and Ireland led a surge in the euro region’s budget deficit, re-igniting concern that mounting government debt may derail the economic recovery.
Crude futures close just 17 cents lower overnight. Rising inventories provide little incentive for buying.
Week's Economic Calendar
Apr 19 Leading Indicators were higher again. One reason for this is because the indicators are incestuous since one it is the Stock Market itself.
Recently:
Wall Street continues to spin profits seasonally adjusted or not… depending on which fools investors more. Wall Street wants the companies to make optimistic predictions but Wall Street low balls its expectations to deceive investors into thinking times are booming. The economy is not booming, instead default rates are going down because banks are foreclosing at a faster rate now than ever before.
Crude inventories rose more than forecast last week while gasoline inventories jumped despite expectations for a dip, according to government data released Wednesday. Crude inventories rose by 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. That is the highest inventory level since September 1990. Oil investments therefore are likely to decline as inventories continue to climb.
Apr 22 8:30 AM Initial Claims 04/17:
Apr 22 8:30 AM Continuing Claims 04/10
Apr 22 8:30 AM PPI Mar
Apr 22 8:30 AM Core PPI Mar
Apr 22 10:00 AM Existing Home Sales Mar
Apr 22 10:00 AM FHFA Home Price Index Feb
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 22
Wednesday the broader NYSE declined modestly on slightly higher than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be below the high that was first set in September of 2009.
World Markets
Asian markets were down last night; Shanghai down -0.2%, Hong Kong down -0.3%, India up 0.6%, and Japan down -1.3%.
European markets are currently down in the range from -0.8% to -1.3 % this morning about half way through their day.
Today US pre-market futures are down -0.4% to -0.7% at 7:30 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing)."
If governments continue to bail out their big banks then the governments fail just as the Communist regime of the Soviet Union failed in 1989. China was one ongoing failure for about 500 years until it adopted freedoms learned from the take-over of Hong Kong after their 100 year lease of that previously worthless island to Great Britain. Great Britain had made the island of Hong Kong one of the most prosperous cities in the world.
Communism is a particularly mean extreme form of socialism. Fascism is the other mean extreme form of socialism. All forms of socialism wander between these two extreme forms. America has been the world experiment in liberty that has so far lasted more than 300 years, the longest ever for any place on earth. Obama said he wants Americans to change the American Constitution to make America like socialist Europe, Asia, South America, and Africa. He wants a Supreme Court that is not based on law but is sympathetic to people who want big government to take care of all their needs. Socialism is the religion of atheism not a successful economic form of government. Socialism is a form of Christianity without any God. Early Christian experiments had communes that collected from each according to his ability to redistribute to each according to his needs. The Mayflower colony was exactly that religious form of socialism until half the colony starved to death. Then the Pilgrims changed: to each according to his works from each according to his charity and love of others. Karl Marx stole the idea of Communism from European Christian collectivist socialism. He said, "From each according to his ability, to each according to his needs." That is what all Christian communes said, but Karl Marx stripped out the Christian concept of a loving God that was the basis for Christian sharing of God's love. Police force, the Gulag, the Siberian death camps, and the horror of Mao's "Cultural Revolution" became the process for conversion (re-education) of people to Communism.
Under Obama the banks can now pretty much dial any ostentatious profit they choose. How much money they invest is only limited to how much low interest taxpayer money they choose to borrow. As far as risk goes, they have none at this time. They invest in treasuries which then raise the money the FED uses to loan the banks even more money. It is not that Wall Street is filled with geniuses that makes banks like Goldman Sachs profitable. It is that government officials are so stupid in letting them be greedy and take bonuses while they do nothing to help homeowners who are underwater. Meanwhile banks have the homeowners as victims to milk dry with new forms of fixed charges. We have Obama to thank for all the new bank tricks used to make Americans late in payments so they can be charged bank interest that often exceeds 20% while banks only borrow at 0.5% interest at the expense of American taxpayers. We have Obama to thank for our failing infrastructure. The bridges around Boston are rusting and the concrete piers are crumbling exposing rusting steel reinforcing in the cement. The trillions of dollars are going down the rat-holes of socialist Obama experiments investing in the likes of ACORN, big unions and big corrupt banks with incompetent socialist executives who contribute millions to socialist candidates.
World Outlook
U.S. stock-index futures declined as Greece and Ireland led a surge in the euro region’s budget deficit, re-igniting concern that mounting government debt may derail the economic recovery.
Crude futures close just 17 cents lower overnight. Rising inventories provide little incentive for buying.
Week's Economic Calendar
Apr 19 Leading Indicators were higher again. One reason for this is because the indicators are incestuous since one it is the Stock Market itself.
Recently:
Wall Street continues to spin profits seasonally adjusted or not… depending on which fools investors more. Wall Street wants the companies to make optimistic predictions but Wall Street low balls its expectations to deceive investors into thinking times are booming. The economy is not booming, instead default rates are going down because banks are foreclosing at a faster rate now than ever before.
Crude inventories rose more than forecast last week while gasoline inventories jumped despite expectations for a dip, according to government data released Wednesday. Crude inventories rose by 3.9 million barrels, or 1.1 percent, to 370.6 million barrels, which is 17.2 percent above year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report. That is the highest inventory level since September 1990. Oil investments therefore are likely to decline as inventories continue to climb.
Apr 22 8:30 AM Initial Claims 04/17:
Apr 22 8:30 AM Continuing Claims 04/10
Apr 22 8:30 AM PPI Mar
Apr 22 8:30 AM Core PPI Mar
Apr 22 10:00 AM Existing Home Sales Mar
Apr 22 10:00 AM FHFA Home Price Index Feb
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 22
Wednesday the broader NYSE declined modestly on slightly higher than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be below the high that was first set in September of 2009.
World Markets
Asian markets were down last night; Shanghai down -0.2%, Hong Kong down -0.3%, India up 0.6%, and Japan down -1.3%.
European markets are currently down in the range from -0.8% to -1.3 % this morning about half way through their day.
Today US pre-market futures are down -0.4% to -0.7% at 7:30 AM EST.
John P. Hussman, Ph.D. this week says:
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing)."
Wednesday, April 21, 2010
Banks and FED play a joke on taxpayers and investors called dial a profit.
Banks and FED play a joke on taxpayers and investors called dial a profit.
Under Obama the banks can now pretty much dial any ostentatious profit they choose. How much money they invest is only limited to how much low interest taxpayer money they choose to borrow. As far as risk goes, they have none at this time. They invest in treasuries which then raise the money the FED uses to loan the banks even more money. It is not that Wall Street is filled with geniuses that makes banks like Goldman Sachs profitable. It is that government officials are so stupid in letting them be greedy and take bonuses while they do nothing to help homeowners who are underwater. Meanwhile banks have the homeowners as victims to milk dry with new forms of fixed charges. We have Obama to thank for all the new bank tricks used to make Americans late in payments so they can be charged bank interest that often exceeds 20% while banks only borrow at 0.5% interest at the expense of American taxpayers. We have Obama to thank for our failing infrastructure. The bridges around Boston are rusting and the concrete piers are crumbling exposing rusting steel reinforcing in the cement. The trillions of dollars are going down the rat-holes of socialist Obama experiments investing in the likes of ACORN, big unions and big corrupt banks with incompetent socialist executives who contribute millions to socialist candidates.
World Outlook
Week's Economic Calendar
Apr 19 Leading Indicators were higher again one of the indicators being incestuous as it is the Stock Market itself.
Yesterday:
Wall Street continues to spin profits seasonally adjusted or not depending on which fools investors more. Wall Street wants the companies to make optimistic predictions but Wall Street low balls its expectations to deceive investors into thinking times are booming. The economy is not booming but default rates are going down because banks are foreclosing at a faster rate now than ever before.
Apr 21 10:30 AM Crude Inventories 04/17
Apr 22 8:30 AM Initial Claims 04/17
Apr 22 8:30 AM Continuing Claims 04/10
Apr 22 8:30 AM PPI Mar
Apr 22 8:30 AM Core PPI Mar
Apr 22 10:00 AM Existing Home Sales Mar
Apr 22 10:00 AM FHFA Home Price Index Feb
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 21
Tuesday the broader NYSE rose modestly on 19 lower than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be below the high that was first set in September of 2009.
World Markets
Asian markets were up slightly last night; Shanghai up 1.8%, Hong Kong down -0.5%, India up 0.1%, and Japan up 1.7%.
European markets are currently down in the range from -0.5% to --0.9 % this morning about half way through their day.
Today US pre-market futures are down about -0.2% at 7:00 AM EST.
John P. Hussman, Ph.D. this week says"
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing). "
Under Obama the banks can now pretty much dial any ostentatious profit they choose. How much money they invest is only limited to how much low interest taxpayer money they choose to borrow. As far as risk goes, they have none at this time. They invest in treasuries which then raise the money the FED uses to loan the banks even more money. It is not that Wall Street is filled with geniuses that makes banks like Goldman Sachs profitable. It is that government officials are so stupid in letting them be greedy and take bonuses while they do nothing to help homeowners who are underwater. Meanwhile banks have the homeowners as victims to milk dry with new forms of fixed charges. We have Obama to thank for all the new bank tricks used to make Americans late in payments so they can be charged bank interest that often exceeds 20% while banks only borrow at 0.5% interest at the expense of American taxpayers. We have Obama to thank for our failing infrastructure. The bridges around Boston are rusting and the concrete piers are crumbling exposing rusting steel reinforcing in the cement. The trillions of dollars are going down the rat-holes of socialist Obama experiments investing in the likes of ACORN, big unions and big corrupt banks with incompetent socialist executives who contribute millions to socialist candidates.
World Outlook
Week's Economic Calendar
Apr 19 Leading Indicators were higher again one of the indicators being incestuous as it is the Stock Market itself.
Yesterday:
Wall Street continues to spin profits seasonally adjusted or not depending on which fools investors more. Wall Street wants the companies to make optimistic predictions but Wall Street low balls its expectations to deceive investors into thinking times are booming. The economy is not booming but default rates are going down because banks are foreclosing at a faster rate now than ever before.
Apr 21 10:30 AM Crude Inventories 04/17
Apr 22 8:30 AM Initial Claims 04/17
Apr 22 8:30 AM Continuing Claims 04/10
Apr 22 8:30 AM PPI Mar
Apr 22 8:30 AM Core PPI Mar
Apr 22 10:00 AM Existing Home Sales Mar
Apr 22 10:00 AM FHFA Home Price Index Feb
Apr 23 8:30 AM Durable Orders Mar
Apr 23 8:30 AM Durable Orders ex auto Mar
Apr 23 10:00 AM New Home Sales Mar
Market Outlook April 21
Tuesday the broader NYSE rose modestly on 19 lower than normal volume again showing the stock market is extremely inflated and ready to drop. The volume corrected NYSE continues to be below the high that was first set in September of 2009.
World Markets
Asian markets were up slightly last night; Shanghai up 1.8%, Hong Kong down -0.5%, India up 0.1%, and Japan up 1.7%.
European markets are currently down in the range from -0.5% to --0.9 % this morning about half way through their day.
Today US pre-market futures are down about -0.2% at 7:00 AM EST.
John P. Hussman, Ph.D. this week says"
"As of last week, the stock market remained characterized by strenuous overvaluation, strenuous overbought conditions, overbullish sentiment, and hostile yield pressures. The fraud charges brought against Goldman Sachs by the SEC may or may not provide a catalyst for market weakness, but significant risk is already baked into observable market conditions. The present syndrome tends to be followed by large and abrupt losses (though with somewhat unpredictable timing). "
Friday, April 16, 2010
Rattner is just another example of the appointments Obama makes.
Steven Rattner, a founder of the Quadrangle Group joined the Obama administration as the car czar last year to help oversee the bailout of the automaker unions at General Motors and Chrysler. The Quadrangle Group has just agreed to settle a corruption investigation with Attorney General Andrew M. Cuomo’s office and the Securities and Exchange Commission. No current employees of Quadrangle were involved in the allegations just the former ones. The NY case involves bribing individuals close to the state’s former comptroller in order to convince the state to invest state employee pension money in their funds. But it involves corrupt pension, 401, and Roth pension dealings everywhere. Some Americans are restricted to investing their pensions in a small handful of thieving funds that pay little except for kickbacks and risk everything. Rattner is just another example of the appointments Obama makes. They all deserve prison.
“This case has started a national investigation of public pension funds all across the nation,” said Mr. Cuomo, the attorney general of New York State, in a media call. “A significant amount of this country’s wealth are in these public pension funds and I fear — seeing what we’ve seen in New York — that it’s going to be a serious problem for the nation.”
GE, Bank of America, Goldman, George Soros and the other Wall Street thieving socialists plunder America every day. GE/MSNBC/Pravda and Goldman had themselves declared banks in 2008 so that they could borrow at 0.5% interest to invest in risk free Treasury bonds paying them 2% to 4% (depending on the maturity length). Any moron in banking can dial in the profit they want now and future American grandchildren will be saddled with the national debt. The Banks of America continue to steal from taxpayers and contribute to the socialist candidates who allow this thievery to continue along with derivatives which the bankers themselves know are dangerously run by overpaid moral cretins.
Yet GE profit from continuing operations fell to $2.34 billion, or 21 cents a share, from $2.85 billion, or 26 cents, a year earlier, the Fairfield, Connecticut-based company said today as revenue declined 4.8 percent to $36.6 billion, trailing analysts’ projections. GE/MSNBC/Pravda continues to operate the world's largest socialist/fascist propaganda machine, MSNBC/Pravda. They would outlaw the American Tea Party if they could.
Google slumped 4.2 percent in early New York trading after the company said first-quarter costs rose 18 percent, double the increase in the previous period. Google's earnings disappointed since the masters of hype were indicating higher results ignoring the cost of the company’s expansion and the cyber attacks of Red China.
ConocoPhillips and Exxon Mobil Corp. retreated with oil prices.
World Outlook
China stopped approving permits to import soybean oil from Argentina, the world’s main supplier of the edible oil. China acted after the Argentina increased antidumping measures against Chinese imports. China dumps its products worldwide and reacts with trade wars when other nations resist the dumping.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk City.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Retail sales rise a healthy 1.6%, average hourly earnings for US workers fell 0.2%, and consumer prices were up a slight 0.1 percent in March. FED's Beige Book indicated that the FED thinks the recovery has started and it is only eight months after Jimmy Cramer imagined the recovery started. The stock market predicted the recovery 13 months in advance.
Yesterday:
Unemployment claims
The Labor Department says first-time requests for jobless benefits rose to 484,000 last week, the highest level since late February. Economists were expecting claims to fall to 440,000. High unemployment is considered a key stumbling block to a strong, sustained economic recovery.
NY St Manufacturing Index
Industrial Production
RealtyTrac Inc reported this morning that the number of foreclosures in the first quarter surged 35% from the 1st quarter of last year. At the same time 16% more households were added to the list of those in default and now facing foreclosure. A RealyTrac executive said the U.S. is on track for more than a million repossessions this year.
Today:
Housing Starts
Consumer Sentiment
Market Outlook April 16
Yesterday the broader NYSE declined on sharply higher volume again showing the stock market is extremely inflated and ready to pop. Once again the volume corrected NYSE failed to set a new high since September 2009.
The NYSE closed down yesterday on sharply higher volume bouncing off the same highs of September 20 and January 11. The uncorrected NYSE has shown succeeding new highs just as the other narrow markets that manipulated volume. The NYSE volume may not be accurate but at least it is not completely fabricated as other volumes are. Most other indices do not report the volume of transactions in their own indices but rather just report NYSE volume for any index. Just look at what they report for the DOW, NASDAQ and S&P. Corrupt Wall Street now reports garbage rather than transaction value for most things. Wall Street is obviously defrauding the government by manipulating their tax obligations downward in addition to their highway robbery through the bailouts and stimulation package. And in return Wall Street is already heavily funding the democrat-socialists party for this November's elections.
Obama and the democrat-socialists have pumped up and set the stage for short sellers of every breed to sweep in and attack American investors. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry. Go look for yourself.
World Markets
Asian markets were down sharply over night; Shanghai down -1.1%, Hong Kong down -1.3%, India down -0.3%, and Japan down -1.5%.
European markets are again currently flat in the range from -0.1% to 1 % this morning about half way through their day.
Today US pre-market futures are down -0.1% to -0.3% at 8:00 AM EST.
We expect the markets to crack sharply soon under the uncertainty of higher taxes to cover socialist corruption and spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
America could very well have another Revolution or Civil War. If GE/MSNBC/Pravda and other America haters, thieves, corrupt politicians, indigents, socialist fascists, socialist communists, and socialist environmental morons lie and claim they are the majority and can re-write the American Constitution to legally steal from the productive Americans… then it is likely that true Americans will rise up and take back their country and purge the thieving tyrants. When America was created only productive Americans who owned property and contributed in good standing in the community were entitled to vote. Now felons in prison and the "incurable" community pedophiles down the street can vote while ACORN brown shirts stand outside and try to intimidate productive community members and even poll workers as they enter the buildings.
“This case has started a national investigation of public pension funds all across the nation,” said Mr. Cuomo, the attorney general of New York State, in a media call. “A significant amount of this country’s wealth are in these public pension funds and I fear — seeing what we’ve seen in New York — that it’s going to be a serious problem for the nation.”
GE, Bank of America, Goldman, George Soros and the other Wall Street thieving socialists plunder America every day. GE/MSNBC/Pravda and Goldman had themselves declared banks in 2008 so that they could borrow at 0.5% interest to invest in risk free Treasury bonds paying them 2% to 4% (depending on the maturity length). Any moron in banking can dial in the profit they want now and future American grandchildren will be saddled with the national debt. The Banks of America continue to steal from taxpayers and contribute to the socialist candidates who allow this thievery to continue along with derivatives which the bankers themselves know are dangerously run by overpaid moral cretins.
Yet GE profit from continuing operations fell to $2.34 billion, or 21 cents a share, from $2.85 billion, or 26 cents, a year earlier, the Fairfield, Connecticut-based company said today as revenue declined 4.8 percent to $36.6 billion, trailing analysts’ projections. GE/MSNBC/Pravda continues to operate the world's largest socialist/fascist propaganda machine, MSNBC/Pravda. They would outlaw the American Tea Party if they could.
Google slumped 4.2 percent in early New York trading after the company said first-quarter costs rose 18 percent, double the increase in the previous period. Google's earnings disappointed since the masters of hype were indicating higher results ignoring the cost of the company’s expansion and the cyber attacks of Red China.
ConocoPhillips and Exxon Mobil Corp. retreated with oil prices.
World Outlook
China stopped approving permits to import soybean oil from Argentina, the world’s main supplier of the edible oil. China acted after the Argentina increased antidumping measures against Chinese imports. China dumps its products worldwide and reacts with trade wars when other nations resist the dumping.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk City.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Retail sales rise a healthy 1.6%, average hourly earnings for US workers fell 0.2%, and consumer prices were up a slight 0.1 percent in March. FED's Beige Book indicated that the FED thinks the recovery has started and it is only eight months after Jimmy Cramer imagined the recovery started. The stock market predicted the recovery 13 months in advance.
Yesterday:
Unemployment claims
The Labor Department says first-time requests for jobless benefits rose to 484,000 last week, the highest level since late February. Economists were expecting claims to fall to 440,000. High unemployment is considered a key stumbling block to a strong, sustained economic recovery.
NY St Manufacturing Index
Industrial Production
RealtyTrac Inc reported this morning that the number of foreclosures in the first quarter surged 35% from the 1st quarter of last year. At the same time 16% more households were added to the list of those in default and now facing foreclosure. A RealyTrac executive said the U.S. is on track for more than a million repossessions this year.
Today:
Housing Starts
Consumer Sentiment
Market Outlook April 16
Yesterday the broader NYSE declined on sharply higher volume again showing the stock market is extremely inflated and ready to pop. Once again the volume corrected NYSE failed to set a new high since September 2009.
The NYSE closed down yesterday on sharply higher volume bouncing off the same highs of September 20 and January 11. The uncorrected NYSE has shown succeeding new highs just as the other narrow markets that manipulated volume. The NYSE volume may not be accurate but at least it is not completely fabricated as other volumes are. Most other indices do not report the volume of transactions in their own indices but rather just report NYSE volume for any index. Just look at what they report for the DOW, NASDAQ and S&P. Corrupt Wall Street now reports garbage rather than transaction value for most things. Wall Street is obviously defrauding the government by manipulating their tax obligations downward in addition to their highway robbery through the bailouts and stimulation package. And in return Wall Street is already heavily funding the democrat-socialists party for this November's elections.
Obama and the democrat-socialists have pumped up and set the stage for short sellers of every breed to sweep in and attack American investors. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry. Go look for yourself.
World Markets
Asian markets were down sharply over night; Shanghai down -1.1%, Hong Kong down -1.3%, India down -0.3%, and Japan down -1.5%.
European markets are again currently flat in the range from -0.1% to 1 % this morning about half way through their day.
Today US pre-market futures are down -0.1% to -0.3% at 8:00 AM EST.
We expect the markets to crack sharply soon under the uncertainty of higher taxes to cover socialist corruption and spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
America could very well have another Revolution or Civil War. If GE/MSNBC/Pravda and other America haters, thieves, corrupt politicians, indigents, socialist fascists, socialist communists, and socialist environmental morons lie and claim they are the majority and can re-write the American Constitution to legally steal from the productive Americans… then it is likely that true Americans will rise up and take back their country and purge the thieving tyrants. When America was created only productive Americans who owned property and contributed in good standing in the community were entitled to vote. Now felons in prison and the "incurable" community pedophiles down the street can vote while ACORN brown shirts stand outside and try to intimidate productive community members and even poll workers as they enter the buildings.
Thursday, April 15, 2010
Only 47% of Americans still pay federal taxes, 40% actually get money back by filing for credits while giving nothing.
Only 47% of Americans still pay federal taxes, 40% actually get money back by filing for credits while giving nothing.
Louisiana Senator, Mary Landrieu (D) asked Congress for 250 billion dollars to rebuild New Orleans. If you are one of the lucky 484,674 residents of New Orleans (every man, woman, and child)
You each get $516,528. Or... if you have one of the 188,251 homes in New Orleans, your home gets $1,329,787. Or... If you are a family of four...your family gets $2,066,012. This is part of the corruption of the Obama regime.
When the socialists put together their coalition of unions, state and federal workers, and that indigent 40% who pay no taxes but file anyway to get a share of your money then it will be the end of the American Republic and the beginning of yet another corrupt banana republic. Remember only thieves think your money is their money to spend.
World Outlook
China stopped approving permits to import soybean oil from Argentina, the world’s main supplier of the edible oil. China acted after the Argentina increased antidumping measures against Chinese imports. China dumps its products worldwide and reacts with trade wars when other nations resist the dumping.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk City.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Yesterday:
Retail sales rise a healthy 1.6%, average hourly earnings for US workers fell 0.2%, and consumer prices were up a slight 0.1 percent in March. FED's Beige Book indicated that the FED thinks the recovery has started and it is only eight months after Jimmy Cramer imagined the recovery started. The stock market predicted the recovery 13 months in advance.
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 15
The market went up yesterday to touch its earlier two highs (prices adjusted for volume). The cause was the corruption of Wall Street by the FED flooding Wall Street with taxpayer dollars. Wall Street returns the corrupt favor by pay themselves obscene bonuses. Congress responds by steal more money for their salaries and expenses such as having three Airforce jets take family members on vacations. The way the Obama Regime funnels the money to corrupted institutions is by letting the corrupt cohorts borrow taxpayer money at 0.5% interest and then invest the virtually free money in Treasury bonds at close to 4% interest. That amounts to free, risk free money direct from American taxpayer wallets. And only 47% of American are currently taxpayers. Obama is slowly destroying America by essentially giving away treasury bonds free to corrupt Wall Street who contribute heavily to the campaigns of the corrupt democrat-socialist congressional elite. That is highway robbery and will bankrupt America as fewer and fewer people pay taxes. The IRS is now going after small businessmen who handle a lot of cash. The growing American underground economy and black market is the result of Americans coping what Europeans do in socialist countries to avoid being mugged at tax time every year.
The market rose yesterday on Morgan Stanley's obscene profits from the FED's corruption of Wall Street. The truth is that the management of Morgan Stanley is one of the most incompetent as well as corrupt. Morgan Stanley, which once stupidly ran the biggest property-investment arm among Wall Street banks, expects to lose another $5.4 billion, or 61 percent, of its $8.8 billion global fund from 2007. Things were so bad last year that the profit gains this year are exaggerated to be up 55%, so incompetent and corrupt Wall Street, flush with all the free FED cash pumped more of their borrowed taxpayer money into the stock market. Yes, Wall Street does not have to invest the money they borrow in risk free treasuries. They also buy stocks that are overpriced today just as they financed mortgages by indigents for homes that were overpriced in 2006 and 2007. A stock market crash now would increase the US debt burden enormously because this whole 13-month premature stock rally has been taxpayer financed with the FED stimulus package. It is the dumbest thing Obama and the FED have done to date.
The NYSE closed up yesterday on higher volume for the first time in a week sending the volume corrected NYSE back to the same highs of September 20 and January 11. The uncorrected NYSE has shown succeeding new highs just as the other markets. The NYSE volume may not be accurate but at least it is no completely fabricated as other volumes are. Most other indices do not report the volume of transactions in their own indices but rather just report NYSE volume for any index. Just look at what they report for the DOW, NASDAQ and S&P. Corrupt Wall Street now reports garbage rather than transaction value for most things. Wall Street is obviously defrauding the government by manipulating their tax obligations downward in addition to their highway robbery through the bailouts and stimulation package.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
World Markets
Asian markets were flat over night; Shanghai down -0.1%, Hong Kong up 0.2%, India down -1%, and Japan up 0.6%.
European markets are currently flat in the range from -0.1% to 1 % this morning about half way through their day.
Today US pre-market futures are down 0.2% to 0.3% at 8:30 AM EST. We expect the markets to crack sharply soon under the uncertainty of higher taxes to cover socialist corruption and spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
Louisiana Senator, Mary Landrieu (D) asked Congress for 250 billion dollars to rebuild New Orleans. If you are one of the lucky 484,674 residents of New Orleans (every man, woman, and child)
You each get $516,528. Or... if you have one of the 188,251 homes in New Orleans, your home gets $1,329,787. Or... If you are a family of four...your family gets $2,066,012. This is part of the corruption of the Obama regime.
When the socialists put together their coalition of unions, state and federal workers, and that indigent 40% who pay no taxes but file anyway to get a share of your money then it will be the end of the American Republic and the beginning of yet another corrupt banana republic. Remember only thieves think your money is their money to spend.
World Outlook
China stopped approving permits to import soybean oil from Argentina, the world’s main supplier of the edible oil. China acted after the Argentina increased antidumping measures against Chinese imports. China dumps its products worldwide and reacts with trade wars when other nations resist the dumping.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk City.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Yesterday:
Retail sales rise a healthy 1.6%, average hourly earnings for US workers fell 0.2%, and consumer prices were up a slight 0.1 percent in March. FED's Beige Book indicated that the FED thinks the recovery has started and it is only eight months after Jimmy Cramer imagined the recovery started. The stock market predicted the recovery 13 months in advance.
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 15
The market went up yesterday to touch its earlier two highs (prices adjusted for volume). The cause was the corruption of Wall Street by the FED flooding Wall Street with taxpayer dollars. Wall Street returns the corrupt favor by pay themselves obscene bonuses. Congress responds by steal more money for their salaries and expenses such as having three Airforce jets take family members on vacations. The way the Obama Regime funnels the money to corrupted institutions is by letting the corrupt cohorts borrow taxpayer money at 0.5% interest and then invest the virtually free money in Treasury bonds at close to 4% interest. That amounts to free, risk free money direct from American taxpayer wallets. And only 47% of American are currently taxpayers. Obama is slowly destroying America by essentially giving away treasury bonds free to corrupt Wall Street who contribute heavily to the campaigns of the corrupt democrat-socialist congressional elite. That is highway robbery and will bankrupt America as fewer and fewer people pay taxes. The IRS is now going after small businessmen who handle a lot of cash. The growing American underground economy and black market is the result of Americans coping what Europeans do in socialist countries to avoid being mugged at tax time every year.
The market rose yesterday on Morgan Stanley's obscene profits from the FED's corruption of Wall Street. The truth is that the management of Morgan Stanley is one of the most incompetent as well as corrupt. Morgan Stanley, which once stupidly ran the biggest property-investment arm among Wall Street banks, expects to lose another $5.4 billion, or 61 percent, of its $8.8 billion global fund from 2007. Things were so bad last year that the profit gains this year are exaggerated to be up 55%, so incompetent and corrupt Wall Street, flush with all the free FED cash pumped more of their borrowed taxpayer money into the stock market. Yes, Wall Street does not have to invest the money they borrow in risk free treasuries. They also buy stocks that are overpriced today just as they financed mortgages by indigents for homes that were overpriced in 2006 and 2007. A stock market crash now would increase the US debt burden enormously because this whole 13-month premature stock rally has been taxpayer financed with the FED stimulus package. It is the dumbest thing Obama and the FED have done to date.
The NYSE closed up yesterday on higher volume for the first time in a week sending the volume corrected NYSE back to the same highs of September 20 and January 11. The uncorrected NYSE has shown succeeding new highs just as the other markets. The NYSE volume may not be accurate but at least it is no completely fabricated as other volumes are. Most other indices do not report the volume of transactions in their own indices but rather just report NYSE volume for any index. Just look at what they report for the DOW, NASDAQ and S&P. Corrupt Wall Street now reports garbage rather than transaction value for most things. Wall Street is obviously defrauding the government by manipulating their tax obligations downward in addition to their highway robbery through the bailouts and stimulation package.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
World Markets
Asian markets were flat over night; Shanghai down -0.1%, Hong Kong up 0.2%, India down -1%, and Japan up 0.6%.
European markets are currently flat in the range from -0.1% to 1 % this morning about half way through their day.
Today US pre-market futures are down 0.2% to 0.3% at 8:30 AM EST. We expect the markets to crack sharply soon under the uncertainty of higher taxes to cover socialist corruption and spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
Wednesday, April 14, 2010
The worse things are the more things appear to improve.
The worse things are the more things appear to improve. Take an extra $100 profit. Two years ago when you and your neighbor typically made $1000 that additional profit was only 10%. But last year your profit declined over 90% to just $100 but your neighbor still made $1000 so your stocks took a big hit and your neighbor's took a hit too because everyone expected his sales would soon take a hit too. But this year your profit doubled to $200 and your neighbors profit stayed the same at$1000. Now your stock is soaring because the wizards of Wall Street say you are having a "V" shaped recovery of 100% and your neighbor is stagnating.
So you can see how Wall Street makes large judgement errors based on the numbers bbecause they fail to understand the mathematics. Basically the more crippled a corporation is without running completely into the red, the more Wall Street thinks it is a growth stock, and the worse the recession becomes the more Jim Cramer and GE/MSNBC/PRAVDA can hype and say the recovery is "V" shaped. And hence stocks right now are significantly overpriced because those 100% growth rates mean those companies are very nearly worthless. The junk stocks are selling at a premium. Alcoa still reported a loss but when it reports a small profit the future profits will be distorted as huge because Alco had fallen so far into losses. Beware of the many many stocks like PALM and BOOM where bad management is sucking out the last lifeblood of those stocks. Insider selling is not the only problem. At BOOM the insiders are buying but at zero dollars a share therby diluting the stock the more they buy.
World Outlook
Brazilian billionaire Eike Batista cancelled his planned initial public offering of holding company EBX Group Ltd. after raising $3.9 billion less than he first sought from the sale of shipbuilding unit OSX Brasil SA.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
Yesterday:
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 14
Alcoa reported continuing losses as cutbacks in costs are no longer effective and could cause longer term corporate losses. Revenues continued to fall.
Palm hired lawyers yesterday to take it through bankruptcy court and possibly a buy-out or dismemberment.
Morgan Stanley, which once ran the biggest property-investment arm among Wall Street banks, expects to lose $5.4 billion, or 61 percent, of its $8.8 billion global fund from 2007, said a person familiar with the situation. However things were so bad last year that the profit gains this year are exaggerated to be up 55%,
The NYSE closed down yesterday on increased volume again confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were flat over night; Shanghai up 0.2%, Hong Kong up 0.1%, India down -0.2%, and Japan up 0.4%.
European markets are currently up in the range from 0.8% to 1 % this morning about half way through their day.
Today US pre-market futures are up 0.2% to 0.4% at 8:30 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
So you can see how Wall Street makes large judgement errors based on the numbers bbecause they fail to understand the mathematics. Basically the more crippled a corporation is without running completely into the red, the more Wall Street thinks it is a growth stock, and the worse the recession becomes the more Jim Cramer and GE/MSNBC/PRAVDA can hype and say the recovery is "V" shaped. And hence stocks right now are significantly overpriced because those 100% growth rates mean those companies are very nearly worthless. The junk stocks are selling at a premium. Alcoa still reported a loss but when it reports a small profit the future profits will be distorted as huge because Alco had fallen so far into losses. Beware of the many many stocks like PALM and BOOM where bad management is sucking out the last lifeblood of those stocks. Insider selling is not the only problem. At BOOM the insiders are buying but at zero dollars a share therby diluting the stock the more they buy.
World Outlook
Brazilian billionaire Eike Batista cancelled his planned initial public offering of holding company EBX Group Ltd. after raising $3.9 billion less than he first sought from the sale of shipbuilding unit OSX Brasil SA.
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
Yesterday:
The U.S. trade deficit, which measures the gap between national exports and imports, is up by 7.4% over the previous month. The trade deficit climbed to $39.7 billion as both imports increased at a greater rate than exports. This means the great projected American productivity increases that have been reported may not be real because if American productivity improved faster than the rest of the world the deficit would decline.
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 14
Alcoa reported continuing losses as cutbacks in costs are no longer effective and could cause longer term corporate losses. Revenues continued to fall.
Palm hired lawyers yesterday to take it through bankruptcy court and possibly a buy-out or dismemberment.
Morgan Stanley, which once ran the biggest property-investment arm among Wall Street banks, expects to lose $5.4 billion, or 61 percent, of its $8.8 billion global fund from 2007, said a person familiar with the situation. However things were so bad last year that the profit gains this year are exaggerated to be up 55%,
The NYSE closed down yesterday on increased volume again confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were flat over night; Shanghai up 0.2%, Hong Kong up 0.1%, India down -0.2%, and Japan up 0.4%.
European markets are currently up in the range from 0.8% to 1 % this morning about half way through their day.
Today US pre-market futures are up 0.2% to 0.4% at 8:30 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on vote buying corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
Tuesday, April 13, 2010
Socialism is government of the corrupt, by the corrupt, for the corrupt.
How do you know who are the thieves. The thieves say your money is their money. Does that sound familiar?
Big government becomes contemptuous. It institutionalizes theft from productive people by government employees for government employees, unions, and a permanent sub class. The leftists want and create a permanent subclass of lazy uneducated people who will vote in socialists who share the wealth of the hard working Americans. They make up lies about how illegals work so hard. The fact is the only hard work they do is crossing the desert to enter America. Only leftist socialists hire illegal immigrants. No honest Americans hire illegals so if illegals ever are abused it is by corrupt socialists who hire them. Note that all the disclosures of new government appointments with having illegal alien housekeepers or having evaded taxes were socialist-democrat appointments. Good Americans do not exploit people so they have nothing to do with illegal immigrants.
Because socialism is institutionalized theft of the value of works of the creative and productive few it is quite natural for liberal leftists to think everyone is a thief not just they themselves. If everyone is a thief then it also naturally falls out that the money a thief has is not his own money. That is why Obama's economists declare that the money you accumulate is not yours. They assume you did not earn it just as they in their lavish life styles did not earn their money. They got their big bonuses because they knew or married a Senator who earmarked millions of dollars to the hospital at which you worked. We all know the end of this story. This story always ends with the newly socialized country going down the drain.
World Outlook
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Yesterday
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
Tuesday, April 13:
U.S. Trade deficit
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 13
Alcoa reported continuing losses as cutbacks in costs are no longer effective and could cause longer term corporate losses. Revenues continued to fall.
Palm hired lawyers yesterday to take it through bankruptcy court and possibly a buy-out or dismemberment.
The markets closed up very slightly again on average volume confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were down over night; Shanghai up 1%, Hong Kong down -0.2%, India down -0.2%, and Japan down -0.8%.
European markets are currently down in the range from 0% to -0.4 % this morning about half way through their day.
Today US pre-market futures are down about -0.3% at 8 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
How do you know who are the thieves. The thieves say your money is their money. Does that sound familiar?
Big government becomes contemptuous. It institutionalizes theft from productive people by government employees for government employees, unions, and a permanent sub class. The leftists want and create a permanent subclass of lazy uneducated people who will vote in socialists who share the wealth of the hard working Americans. They make up lies about how illegals work so hard. The fact is the only hard work they do is crossing the desert to enter America. Only leftist socialists hire illegal immigrants. No honest Americans hire illegals so if illegals ever are abused it is by corrupt socialists who hire them. Note that all the disclosures of new government appointments with having illegal alien housekeepers or having evaded taxes were socialist-democrat appointments. Good Americans do not exploit people so they have nothing to do with illegal immigrants.
Because socialism is institutionalized theft of the value of works of the creative and productive few it is quite natural for liberal leftists to think everyone is a thief not just they themselves. If everyone is a thief then it also naturally falls out that the money a thief has is not his own money. That is why Obama's economists declare that the money you accumulate is not yours. They assume you did not earn it just as they in their lavish life styles did not earn their money. They got their big bonuses because they knew or married a Senator who earmarked millions of dollars to the hospital at which you worked. We all know the end of this story. This story always ends with the newly socialized country going down the drain.
World Outlook
Doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Yesterday
Fear of the stock and bond markets increased demand for safe treasuries consequently the Treasury Department auction of $26 billion in three-month bills ran at a discount rate of 0.155 percent. That's down from 0.175 percent last week and the lowest in two weeks. Another $27 billion in six-month bills was auctioned at a discount rate of 0.240 percent. That's below last week's 0.265 percent and the lowest since March 8.
On the other hand inflation continues to drive up rates on longer-term securities. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 0.47 percent last week from 0.43 percent the previous week.
The National Federation of Independent (small) Business’s optimism index dropped to 86.8 last month from 88 in February indicating that confidence among U.S. small businesses fell to the lowest level since July 2009. Executives grew more concerned about earnings and sales and seven of the index’s 10 components declined from February with only one advancing. The measure of earnings expectations showed the biggest decline in March, dropping 4 points to minus 43 percent. Thirty- four percent of respondents cited “poor sales” as the top business concern, the same as in February, and the net percent of owners projecting higher sales, adjusting for inflation, fell to minus 3 percent.
Tuesday, April 13:
U.S. Trade deficit
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 13
Alcoa reported continuing losses as cutbacks in costs are no longer effective and could cause longer term corporate losses. Revenues continued to fall.
Palm hired lawyers yesterday to take it through bankruptcy court and possibly a buy-out or dismemberment.
The markets closed up very slightly again on average volume confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were down over night; Shanghai up 1%, Hong Kong down -0.2%, India down -0.2%, and Japan down -0.8%.
European markets are currently down in the range from 0% to -0.4 % this morning about half way through their day.
Today US pre-market futures are down about -0.3% at 8 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits. The purpose of socialists is to first create a class society to divide the nation and then fuse the criminal, corrupt, and indolent segments into a permanent subclass. Next they encourage the growth of the subclass by boosting illegal immigration from Haiti, Mexico and other failed welfare states with the promise of citizenship and a comparative life of luxury on the dole.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
Monday, April 12, 2010
Socialism is institutionalized theft.
Because socialism is institutionalized theft of the value of works of the creative and productive few it is quite natural for liberal leftists to think everyone is a thief not just they themselves. If everyone is a thief then it also naturally falls out that the money a thief has is not his own money. That is why Obama's economists declare that the money you accumulate is not yours. They assume you did not earn it just as they in their lavish life styles did not earn their money. They got their big bonuses because they knew or married a Senator who earmarked millions of dollars to the hospital at which you worked. The hospital then gave you (for instance Obama's wife) a fancy title, quadrupled your salary and you then went on to tap other government officials for more taxpayer money to justify the salary you got. Our founding fathers would say the senator who earmarked millions to his wife's employer was corrupt. They would say the political hospital administration was knowingly corrupt in rewarding the Senators wife for bringing in the free no-strings attached tax payer money that beats having to earn it legally. It is legal in the corrupt situation that our socialist "majority" government finds itself in. After all this, the president doesn't like the Constitution that protects the citizen taxpayers from the government. He wants a pro-active American Constitution that creates socialism for the majority to bleed the creative and enterprising Americans dry.
We all know the end of this story. This story always ends with the newly socialized country going down the drain.
World Outlook
The Baltic Dry index measures the health of world trade continues a serious decline that no doubt is why Jim Cramer has been ignoring this favorite indicator he uses. It means world trade is slowing,
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Last week the interest Greece had to pay on Greek bonds spiked to over 7% more than doubling the cost of carrying debt for Greece. A euro zone deal was then arranged for a huge standby rescue package for Greece, slashing the debt-laden country's borrowing costs and buying its stocks and bonds. The yield on short-dated Greek government bonds then fell by over a point to around 5.9 percent.
However, doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Monday, April 12:
6month Treasury bill
Tuesday, April 13:
U.S. Trade deficit
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 12
The market closed up yet again on lower volume confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were down over night; Shanghai down -0.5%, Hong Kong down -0.3%, India down -0.5%, and Japan up 0.4%.
European markets are currently flat in the range from 0% to -0.1 % this morning about half way through their day.
Today US pre-market futures are up about 0.6% at 7:30 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
We all know the end of this story. This story always ends with the newly socialized country going down the drain.
World Outlook
The Baltic Dry index measures the health of world trade continues a serious decline that no doubt is why Jim Cramer has been ignoring this favorite indicator he uses. It means world trade is slowing,
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Last week the interest Greece had to pay on Greek bonds spiked to over 7% more than doubling the cost of carrying debt for Greece. A euro zone deal was then arranged for a huge standby rescue package for Greece, slashing the debt-laden country's borrowing costs and buying its stocks and bonds. The yield on short-dated Greek government bonds then fell by over a point to around 5.9 percent.
However, doubts remained as to whether the weakest of the European currency's 16 members would actually get the bailout fund much less be able to manage its 300 billion euro debt. A similar situation exists for the states of Kalifornia and New Yawk.
Week's Economic Calendar
Monday, April 12:
6month Treasury bill
Tuesday, April 13:
U.S. Trade deficit
Wednesday, April 14:
Consumer Price Index
Retail Sales
FED's Beige Book
Thursday, April 15:
Unemployment claims
NY St Manufacturing Index
Industrial Production
Friday, April 16:
Housing Starts
Consumer Sentiment
Market Outlook April 12
The market closed up yet again on lower volume confirming the topping out of the American stock markets. The Dow index did not take off when it broke through 1000. On a volume-adjusted basis the market has not had a new top since the end of September. On a volume adjusted basis it is still more than 1% lower than last September.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock instead. The management of BOOM is slowly milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican National Committee is yet another big spender and is destroying the Republicans from the inside as GOP big spending on nude bar scenes turns off contributors. Now leftists claim he is being picked on because of his color not because he has not been raising money for candidate. Candidates are now soliciting for themselves. The Republicans are broke and the leftist loonies love it.
World Markets
Asian markets were down over night; Shanghai down -0.5%, Hong Kong down -0.3%, India down -0.5%, and Japan up 0.4%.
European markets are currently flat in the range from 0% to -0.1 % this morning about half way through their day.
Today US pre-market futures are up about 0.6% at 7:30 AM EST. We expect the markets to crack soon under the uncertainty of higher taxes to cover socialist spending of $trillions on corruption rather than infrastructure. Most of the government spending is on false starts like uneconomical wind and solar power and unaffordable things like battery powered GM cars and GM union benefits.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions). Now is a good time for smaller investors to buy a home and participate in the next housing bubble. Back in 2006 we advised that the housing bubble was peaking. It will take five more years for the bubble to begin expanding faster and up to 2020 to 2025 for the housing market to peak again. We believe that under leftist regimes the stock market will not rise more than inflation during this period.
Friday, April 9, 2010
Socialism is sustained by giving a majority of voters free passes called entitlements to live off the work of others.
You and all the other fools who work, invent and create are like the educated Greek slaves who enabled the Roman Empire to run. There are always many entitlements of the majority. First there are always the corrupt and decadent government comprised of the chief of state and a senate. Then there are the government workers where the motto is, "It is not what you know not who you know that counts."
The unions have the political entailment to select the arbitrators who determine the limits to which State and City workers can bleed state and city taxpayers. Those state and city entitlements are what give us a look at the future of America under socialism because the leftists tend to be concentrated in major cities and states like NYC and California which were once areas of capital formation. They are attracted to wealth just like any thief is. Once in the late 1800's Rhode Island's city of Newport was the wealthiest city because it was a beautiful coastline where the wealthy vacationed. The leftists took over the city and state and all the wealthy gave up and moved out. Now Rhode Island ranks with the poorest in wealth and education in the USA. Once America attracted the ambitious and idealistic poor of the old socialist European countries who were brave enough to be pioneers in a new world and make it on their own. Today the leftists have opened the flood gates from places where people reject the old American work ethic, do not seek to educate themselves, and refuse to learn the language Americans have spoken since the Pilgrims. Americans are becoming the servants of a majority of voters who are leftist socialists and for the most part pay little or no taxes because they feel entitled to homes and a life style that true Americans like you must support as their indentured servants (like the educated Greek slaves of old).
It is quite possible to educate this mass of indolent leftists but not when they are entitled to everything based on the laws made by leftists and socialists. We must have the American laws that that the Pilgrims had. The pilgrims tried a Christian style of socialism where everyone was supposed to work according to their ability and could share in the harvest of the community. Under Pilgrim socialism many shirked their work claiming age or infirmities made work too inhumane for them. The next season the American Pilgrims switched from socialism to free enterprise and the community law became unto each according to his works or as the charity of others provided. The socialist's entitlement to charity was gone and the Pilgrims survived and Americans used their surplus wealth to be the most charitable nation in the world.
The left spreads lies and says America is not charitable. But all we need to do is look at America before the leftist socialists began taking power and you see Americans were much more charitable. After WWI America sunk $billions into Western Europe while the Communists stripped East Germany of its machinery and kidnapped German scientists as a slave source of manpower to develop jets, rockets, and nuclear weapons under communists who took all the credit. Eventually Eastern Europe was starving and America was shipping them free grain to eat. But the Communists re-bagged the wheat and then demanded that the bags not be labeled as coming from America. Leftists and socialists are the world's best liars because no one would listen to them if they knew the truth. Today they want everyone to say nice things about them and the Moslem terrorists who want to kill all Jews and Americans. They hate the American Tea Party movement and call them haters because there just are no nice words to describe leftists and socialists if you wish to speak truthfully.
The whole reason for politically correct speech is to suppress the truth about thieving socialist Ponzi schemers and Treasury Secretaries, corrupt politicians, murdering anti American Moslems, lazy entitled government workers and unions, imbecilic leftist congressmen who think Guam will tip over and sink from having too many people, and other leftist activities that pass all previous limits on acceptable societal stupidity.
World Outlook
A 20% improvement in sales after an 80% drop still leaves a company 76% lower this year. But the market prices the stocks much higher because the growth rate makes the stocks PEG seem like a great buy. It can be a very slow growth company that looks good only because the investors are short sighted and believe the stock hype Jim Cramer and others give them. The Baltic Dry index measures the health of world trade. It has shown a serious decline in the last few months and that no doubt is why Jim Cramer has been ignoring it of late. It means world trade is slowing,
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Economic Calendar
Finally American jobs are being created faster than they are being lost. See:
http://www.martincapital.com/chart-pgs/Pg_jobs.htm
However, below that chart is another chart that shows the high unemployment rate. What is not shown is that there are a greater percentage of Americans who have been unemployed now for more than a year than in any period since the Great Depression. That block of unemployed Americans will take a long time to re-absorb into the economy.
ISM non manufacturing index rose to 55.4% from 53% last month indicating services are expanding at an increased pace.
US Treasury prices slid on Monday with benchmark yields touching 4 percent for the first time in 10 months as inflation is anticipated. Inflation is better now than deflation.
Pending home sales- the National Association of Realtors said Monday its seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6. January's reading was revised slightly downward to 90.2 to make the current month look better. This is still a good sign.
FOMC minutes were once again positive. In light of improved functioning of financial markets, the Federal Reserve has been closing the special liquidity facilities that it created to support markets during the liquidity meltdown. The only remaining such program, the Term Asset-Backed Securities Loan Facility, is scheduled to close June 30.
Markets are skeptical over Greece's ability to repay bonds they continue to sell more of to pay off debt and go ever deeper into debt as welfare recipients and government workers demand a free lunch and put it on the tab of private workers.
Buyers have returned in force to Treasury 10-yr note auction. The $21 billion auction stopped out at 3.900 percent just under recent highs of 4%. Retail demand was very strong with direct and indirect bidders taking down 59 percent of the auction vs. an average of 51 percent. The continuing trouble in socialist Greece has increased the value of the dollar and is giving a boost to U.S. Treasuries. Treasury prices are extending gains.
Yesterday
Unemployment claims: There were 2.7 million job openings February 2010. The job-opening rate was little changed over the month at 2.1 percent. The hires rate (3.1 percent) and the separations rate (3.1 percent) were also little changed in February.
Bank of England rate has not been increased.
The EURO experienced moderate bounces in positive price volatility following news from European Central Bank (ECB) governor Jean-Claude Trichet. In an anticipated move, the ECB decided to hold interest rates steady while declaring growing stability for Greece. Trichet declared that there was little fear of a sovereign default by Greece in the future and the impact was gripped by short-term bursts in EUR growth. Currently the insurance odds indicate they assess a 4% risk of Greek bond default within five years. Following the announcement by Trichet, the EUR exited its recent weeklong downtrend against the USD and bounced back towards 1.3355 by the end of yesterday's trading. Against the GBP the EUR witnessed two sharp spikes after the announcement by the ECB, but was unable to sustain its growth and fell back into its downtrend, sending a wave of chatter among analysts that a similar fate was due for the EURO/USD in today's trading.
Treasury 30-Year bonds go to 4.770% yield pushing. 30-Year Mortgage Rates to Highest Level in Eight Months. Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 5.21 percent with an average 0.6 point for the week ending April 8, 2010, up from last week when it averaged 5.08 percent. This is the highest the 30-year mortgage has been since the week ending August 13, 2009 when it averaged 5.29 percent.
Gold prices rose on signs of inflation in home prices and in higher interest rates that increase the cost of producing everything especially in a high debt society.
Friday, April 9:
Wholesale Trade Report
Market Outlook April 9
The market closed up on lower volume again confirming the topping of the American stock markets. We do not expect more than a 10% decline in this first round but it is likely to cascade downward until the socialists in Congress are thrown out of office so that spending on unions and state, city, and federal loafing lifers can be cut.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock. The management of BOOM is milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican Nat. Comm. Is another big spender and is destroying the Republicans from the inside as contributors are turned off by GOP big spending on nude bar scenes.
World Markets
Asian markets were up over night; Shanghai up 0.9%, Hong Kong up 1.6%, India up 1.2%, and Japan up 0.3%.
European markets are currently up in the range from 0.7% to 1.3 % this morning about half way through their day.
Today US pre-market futures are up about 0.2% at 8 AM EST.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions).
The unions have the political entailment to select the arbitrators who determine the limits to which State and City workers can bleed state and city taxpayers. Those state and city entitlements are what give us a look at the future of America under socialism because the leftists tend to be concentrated in major cities and states like NYC and California which were once areas of capital formation. They are attracted to wealth just like any thief is. Once in the late 1800's Rhode Island's city of Newport was the wealthiest city because it was a beautiful coastline where the wealthy vacationed. The leftists took over the city and state and all the wealthy gave up and moved out. Now Rhode Island ranks with the poorest in wealth and education in the USA. Once America attracted the ambitious and idealistic poor of the old socialist European countries who were brave enough to be pioneers in a new world and make it on their own. Today the leftists have opened the flood gates from places where people reject the old American work ethic, do not seek to educate themselves, and refuse to learn the language Americans have spoken since the Pilgrims. Americans are becoming the servants of a majority of voters who are leftist socialists and for the most part pay little or no taxes because they feel entitled to homes and a life style that true Americans like you must support as their indentured servants (like the educated Greek slaves of old).
It is quite possible to educate this mass of indolent leftists but not when they are entitled to everything based on the laws made by leftists and socialists. We must have the American laws that that the Pilgrims had. The pilgrims tried a Christian style of socialism where everyone was supposed to work according to their ability and could share in the harvest of the community. Under Pilgrim socialism many shirked their work claiming age or infirmities made work too inhumane for them. The next season the American Pilgrims switched from socialism to free enterprise and the community law became unto each according to his works or as the charity of others provided. The socialist's entitlement to charity was gone and the Pilgrims survived and Americans used their surplus wealth to be the most charitable nation in the world.
The left spreads lies and says America is not charitable. But all we need to do is look at America before the leftist socialists began taking power and you see Americans were much more charitable. After WWI America sunk $billions into Western Europe while the Communists stripped East Germany of its machinery and kidnapped German scientists as a slave source of manpower to develop jets, rockets, and nuclear weapons under communists who took all the credit. Eventually Eastern Europe was starving and America was shipping them free grain to eat. But the Communists re-bagged the wheat and then demanded that the bags not be labeled as coming from America. Leftists and socialists are the world's best liars because no one would listen to them if they knew the truth. Today they want everyone to say nice things about them and the Moslem terrorists who want to kill all Jews and Americans. They hate the American Tea Party movement and call them haters because there just are no nice words to describe leftists and socialists if you wish to speak truthfully.
The whole reason for politically correct speech is to suppress the truth about thieving socialist Ponzi schemers and Treasury Secretaries, corrupt politicians, murdering anti American Moslems, lazy entitled government workers and unions, imbecilic leftist congressmen who think Guam will tip over and sink from having too many people, and other leftist activities that pass all previous limits on acceptable societal stupidity.
World Outlook
A 20% improvement in sales after an 80% drop still leaves a company 76% lower this year. But the market prices the stocks much higher because the growth rate makes the stocks PEG seem like a great buy. It can be a very slow growth company that looks good only because the investors are short sighted and believe the stock hype Jim Cramer and others give them. The Baltic Dry index measures the health of world trade. It has shown a serious decline in the last few months and that no doubt is why Jim Cramer has been ignoring it of late. It means world trade is slowing,
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND
Economic Calendar
Finally American jobs are being created faster than they are being lost. See:
http://www.martincapital.com/chart-pgs/Pg_jobs.htm
However, below that chart is another chart that shows the high unemployment rate. What is not shown is that there are a greater percentage of Americans who have been unemployed now for more than a year than in any period since the Great Depression. That block of unemployed Americans will take a long time to re-absorb into the economy.
ISM non manufacturing index rose to 55.4% from 53% last month indicating services are expanding at an increased pace.
US Treasury prices slid on Monday with benchmark yields touching 4 percent for the first time in 10 months as inflation is anticipated. Inflation is better now than deflation.
Pending home sales- the National Association of Realtors said Monday its seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6. January's reading was revised slightly downward to 90.2 to make the current month look better. This is still a good sign.
FOMC minutes were once again positive. In light of improved functioning of financial markets, the Federal Reserve has been closing the special liquidity facilities that it created to support markets during the liquidity meltdown. The only remaining such program, the Term Asset-Backed Securities Loan Facility, is scheduled to close June 30.
Markets are skeptical over Greece's ability to repay bonds they continue to sell more of to pay off debt and go ever deeper into debt as welfare recipients and government workers demand a free lunch and put it on the tab of private workers.
Buyers have returned in force to Treasury 10-yr note auction. The $21 billion auction stopped out at 3.900 percent just under recent highs of 4%. Retail demand was very strong with direct and indirect bidders taking down 59 percent of the auction vs. an average of 51 percent. The continuing trouble in socialist Greece has increased the value of the dollar and is giving a boost to U.S. Treasuries. Treasury prices are extending gains.
Yesterday
Unemployment claims: There were 2.7 million job openings February 2010. The job-opening rate was little changed over the month at 2.1 percent. The hires rate (3.1 percent) and the separations rate (3.1 percent) were also little changed in February.
Bank of England rate has not been increased.
The EURO experienced moderate bounces in positive price volatility following news from European Central Bank (ECB) governor Jean-Claude Trichet. In an anticipated move, the ECB decided to hold interest rates steady while declaring growing stability for Greece. Trichet declared that there was little fear of a sovereign default by Greece in the future and the impact was gripped by short-term bursts in EUR growth. Currently the insurance odds indicate they assess a 4% risk of Greek bond default within five years. Following the announcement by Trichet, the EUR exited its recent weeklong downtrend against the USD and bounced back towards 1.3355 by the end of yesterday's trading. Against the GBP the EUR witnessed two sharp spikes after the announcement by the ECB, but was unable to sustain its growth and fell back into its downtrend, sending a wave of chatter among analysts that a similar fate was due for the EURO/USD in today's trading.
Treasury 30-Year bonds go to 4.770% yield pushing. 30-Year Mortgage Rates to Highest Level in Eight Months. Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 5.21 percent with an average 0.6 point for the week ending April 8, 2010, up from last week when it averaged 5.08 percent. This is the highest the 30-year mortgage has been since the week ending August 13, 2009 when it averaged 5.29 percent.
Gold prices rose on signs of inflation in home prices and in higher interest rates that increase the cost of producing everything especially in a high debt society.
Friday, April 9:
Wholesale Trade Report
Market Outlook April 9
The market closed up on lower volume again confirming the topping of the American stock markets. We do not expect more than a 10% decline in this first round but it is likely to cascade downward until the socialists in Congress are thrown out of office so that spending on unions and state, city, and federal loafing lifers can be cut.
Obama and the democrat-socialists have set the stage for short sellers of every breed to sweep in and attack American markets. It is very hazardous right now because individual popular stocks like PALM show just how badly an investor in Jim Cramer's favorite growth sector can be savaged. Other stocks such as Boom are being savaged internally with management literally buying Boom stock at 0$ per share and selling it to hide mushrooming Administrative salary increases by diluting the value of the stock. The management of BOOM is milking that company dry.
The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime. The new chairman of the Republican Nat. Comm. Is another big spender and is destroying the Republicans from the inside as contributors are turned off by GOP big spending on nude bar scenes.
World Markets
Asian markets were up over night; Shanghai up 0.9%, Hong Kong up 1.6%, India up 1.2%, and Japan up 0.3%.
European markets are currently up in the range from 0.7% to 1.3 % this morning about half way through their day.
Today US pre-market futures are up about 0.2% at 8 AM EST.
We have noticed that the greatest impediment to stock market profits is a portfolio under $100,000. Beyond $100,000 the investor costs go down and diversification begins to work. Below $6000 it is almost impossible for an investor to make money other than in an index fund (at best) and that has performed close to a net zero for the last ten years (even ignoring trading commissions).
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