Obama threatens to sue Arizona for requiring citizenship identification on the border with Mexico.

Obama threatens to sue Arizona for requiring citizenship identification on the border with Mexico.

If you cross the North Korean border illegally you get 12 years hard labor.
If you cross the Iranian border illegally you are detained indefinitely.
If you cross the afghan border illegally, you get shot.
If you cross the Saudi Arabian border illegally you will be jailed and tortured.
If you cross the Chinese border illegally you may never be heard from again.
If you cross the Venezuelan border illegally you will be branded a spy and ultimately disappear.
If you cross the Cuban border illegally you will be thrown into a political prison.

How do they know to stop you? You correctly fit their American capitalist pig profile, so don't try it.

But if you cross the US border illegally you may qualify for a government job, a drivers license, social security card, welfare, food stamps, credit cards, subsidized rent or a loan to buy a house, free education, free health care, a lobbyist in Washington and in many instances you can vote, and you have the opportunity to bring your sick and aging parents and grandparents!

If you are born here, you get to pay for it all.

But if Arizona tries to send an illegal alien back to Mexico Obama says they can't because they fit the profile of an illegal alien with no ID… and Obama says that is discrimination. How very stupid and suicidal for American liberty Obama's logic is. As the uneducated unemployable segment of Obama's permanent socialist underclass grows they eventually gain the majority and can change the constitution to give themselves dictatorial power as Nazis, communists, Hussein… banana republic socialist dictators everywhere did and now Chavez and Ortega are doing it. That is why the "Tea Party" thinks Obama is trying to make America into another banana republic by his inactions.


Economic Calendar
GE/MSNBC/Pravda's corrupt media very seriously distorted the Friday, April 30 reports. But the market declined sharply anyway.

GDP was reported Friday as showing the recovery booming but the data says it is fading. While it was up a good 3.2% this past quarter… it was expanding at a better 5.6% rate in the fourth quarter of 2009. That looks like possibly a double dip recession underway.

Mich. Consumer Sentiment dropped to 72.2% from 73.6% last month. Most news media reported last month's sentiment falsely (at 71% not 72.2%) to make this news look good. They also distorted the confidence index last week saying it was a record high. But you can see that is without any statistical support whatsoever.
http://www.martincapital.com/chart-pgs/Pg_conco.htm

International trade as indicated by the Baltic Dry index has shown stagnation ever since GE/MSNBC/Pravda's Jim Cramer reported that the last upward blip was a sign of a "V" shaped recovery. Again it looks like the world trade is scraping along the bottom.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND

Wall Street Corruption distorts the markets so that the managers can get big bonuses at the expense of their clients. When they make a profit they get a phenomenal bonus. When they lose a fortune they get a phenomenal golden parachute. The managers don’t hire accounting firms or rating agencies that don’t help them falsify public information to deceive investors and clients unless the accounting and financial rating firms happen to have stupid, blind, deaf, and dumb "experts" that don't ask embarrassing questions. All the false reporting of corrupt Wall Street has the market seriously overpriced now. So to make money we can expect them to short clients and investors soon just as Goldman did with such delight and efficiency. They think they are so smart and the government's SEC and we are so stupid. Wall Street firms expect this Obama attack will end as soon as they Wall Street fills their quota of political contributions. As America elects more leftists the stench of political and economic corruption grows worse and the danger of losing all our American freedoms becomes ever more real.
Monday, May 3:
Consumer Income & Spending.
ISM Manufacturing Index
Construction Spend

Tuesday, May 4:
Auto Sales
Factory Orders
Pending Home sales

Wednesday, May 5:
ADP Jobs Report
ISM non-manufacturing Index

Thursday, May 6:
Unemployment claims
Productivity

Friday, May 6:
Employment Report
Unemployment rate,
Consumer Credit


Market Outlook May 3, 2010
The market was down sharply on Friday on flat volume indicating the volume-adjusted NYSE top continues declining since last fall. If the high has now been set for this last month's advance then the volume adjusted NYSE has now completed a head and second shoulder sell signal. That would be a sign of exhaustion of buyers as happened in late 2007 and accelerated into the sharp decline at the end of 2008. However, a few weeks of exhaustion of buyers could re-establish market health later this year. Only time will tell. Still the coming correction will likely be the most severe correction of the past 12 months.

World Markets
Asian markets were down last night; Shanghai closed, Hong Kong down -1.4%, India down -1%, S. Korea down -1.2%, and Japan closed.

European markets are down in the range from -0.2% to -1.2% this morning about half way through their day.

US pre-market futures appear highly manipulated and are therefore meaningless/disinformation just like the manipulated trade volumes (one exception, NYSE) reported in spite of computerization which could provide much more accurate information than in the past. 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:
"Over the past few months, the stock market has been characterized by an overvalued, overbought, overbullish, rising yields syndrome that has historically proved unrewarding and often particularly dangerous for investors. It's important to underscore that even in post-war data, and even if we assume that the economy is in a typical post-war recovery, this particular syndrome has been unrewarding, on average,"

This week by Streetsmart's Sy Harding:
Reported that the broader NYSE failed to break above its 21 day moving average last week.