Social Security was intended to be a safety net to provide for seniors who worked all their lives. Instead the leftists use it for disabilities most of it goes to fraud. The 60 Minutes show once staged a fake bus accident in a ghetto area in New Jersey. When passing deadbeats heard the bus was in an accident they got on the bus and swore they were injured in the accident. It was a popular accident fraud scheme and they normally would collect for a fake injury and then apply to Social Security for disability payments for life.
Most teachers know of other teachers who get special disability payments and retire early with full state and local benefits. In one school in Connecticut a teacher completely retired on disabilities after being kicked in the shin of one leg by a grade school student. I knew an Army veteran who was retired with full disability in his late 20's. He was the best water skier in his town in upstate New York.
Almost everyone knows someone involved in fraud and the worst fraud is in Medicare. The government hires imbeciles because they are in special favored ethnic and racial groups who need a job where they can get by and do nothing. 60 Minutes showed that the Government workers do not check companies first before paying fraudulent claims. By the time these incompetent government workers are pressured into shutting down the fraud, the criminals have been forewarned and are gone. With crooks in paid government jobs how can America expect any government program to work. They are all going bankrupt due to corruption and incompetence of government workers. Medicare fraud is now more lucrative than drug dealing so organized crime prefers Medicare fraud because with imbecilic leftist government slackers it is virtually risk free.
The leftists are slowly destroying western world freedoms with corruption at all levels of government. While most American scientists and engineers acknowledge the natural glacial cycle only the loony scientists and left wing imbeciles say the evidence proves it is man made. The natural cycles have actually occurred at least ten times in the last million years, long before there were humans. Over 31000 scientists and engineers have signed a petition saying Global Warming is not likely man made as opposed to 10000 ignorant or corrupt loony scientists who signed a petition claiming the evidence proves global warming is man made.
http://www.petitionproject.org/index.php
This leftist global warming fraud is just one of ways leftists infiltrate everything. They are destroying science at universities and large religious organizations from the inside. The same leftists who love little choirboys are the ones seeking gay marriage recognition and gay priests and bishops. They all hate the Catholic Church because the Catholic Church learned its lesson and is stopping this process which the ELCA Lutheran Church in America and the Anglicans have only just started to encourage. Well folks, this is nothing new. They have been doing their thing in secret for centuries and they want to do it openly in the future with public approval. This is an ancient life style incompatible with the work ethic or American protections of individuals from predators, and the tyranny of the leftist corrupt growing majority. It goes back to Sodom and Gomorrah when Lot was forced to surrender his children to it because the predators were in the majority.
World Outlook
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.
Yesterday
ISM non manfg 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.
Tuesday, April 6:
FOMC minutes
Wednesday, April 7:
Treasury 10-yr note auction
Thursday, April 8:
Unemployment claims
BOE rate announcement
ECB announcement
Friday, April 8:
Wholesale Trade Report
Market Outlook April 6
The VAT tax is a good idea. This is how it works. It places a tax on the value added at every stage of production and distribution. It amounts to about 20% except the tax is 0% for exports. So they forfeit the 20% on exports so that business can make the 80% tax-free. This is an enormous benefit to business and is the primary reason a small partially socialist country such as Germany has such a good economy and high exports. It is curious that if the United States is against the VAT at home that no one ever took the VAT to the Trade Board and complained that it is effectively a -20tarrif and therefore dumping and unfair. If America accepts the VAT for Europe it makes sense competitively to use the VAT in America.
While the NYSE could be setting new highs this week the NYSE adjusted for volume being higher on recent declines than advances now has to rise just 1.6% just to reach the highs of last October and December.
Obama and the democrat-socialists are setting the stage for short sellers of every breed to sweep in soon and attack American markets and currencies. The fact that George Soros funded the Obama campaign should have been enough cause for every American to vote against the Obama regime.
World Markets
Asian markets were up over night; Shanghai 0%, Hong Kong closed, India up 0%, and Japan up 1%.
European markets are currently up in the range from 0% to 0.5 % this morning about half way through their day.
Today US pre-market futures are down in a range 0.2% to 0.4% at 8:30 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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