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). "