Is the problem "big government" or is it "big stupid government"? Or is the socialist-democrat party learning that all big government is by definiti

Is the problem "big government" or is it "big stupid government"? Or is the socialist-democrat party learning that all big government is by definition stupid and corrupt government.

Power corrupts, absolute power corrupts absolutely.

Big government can't plug the hole. Obama has reached his limit with the biggest environmental disaster in the history of the USA that may eventually be the biggest world man-made disaster by the time he is thrown out of office.

Obama took charge and said, "plug the hole" but apparently he was only referring to free condoms for students. High school students had complained that the condoms that the Obama administration offered were not big enough. The BP containment devices also were not big enough to contain the oil that was so cold from expansion that it froze the seawater and plugged the siphon pipes.

Obama's big government is failing our schools and undermining the progress that had been made by the, "No student left behind" program. Bigger condoms is the only school program Obama has put forth thus far. Is the problem "big government" or is it "big stupid government"? Or is Obama's socialist-democrat party learning that all big government is by definition stupid, corrupt government.

Socialist incompetence at home and abroad results it universal poverty via the redistribution of wealth from productive individuals to lazy and indigent majority voting blocks. Communism though is far worse. Communism is the opiate of the asses.

Obama continues to try to distance himself from BP. It is not working. America walked on the moon, but Obama failed the American people and he admits his administration stupidity/corruption that allowed those new irresponsibly unsafe BP procedures that killed 11 people and created Obama's personal environmental disaster. Yes, big government makes stupid decisions to earn bribes. They even were about to auction off Obama's old Senate seat to the highest bidder. That corrupt Illinois ex-governor still has not been thrown in jail and still has the hubris to go on television shows and defend his actions. Clearly he has enough information to sink Obama if he is prosecuted.

GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda gives the appearance that it is collaborating with the hedge funds and George Soros that fund Obama leftist insiders. They manipulate the market to create high volatility but low risk for the corrupt political insiders. These socialists are now destroying confidence in the world markets to help George Soros win in his bets against America. Insider information and payoffs are the way corrupt socialists make money. That is why they think all profit is unearned. They think everyone else is as corrupt as they are.

Compare for yourself the level of consumer confidence and don’t believe the ignorant and corrupt socialist GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda who spun this negatively last week.
http://www.martincapital.com/chart-pgs/Pg_conco.htm

Plot the S&P 500 and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EGSPC#chart1:symbol=^gspc;range=6m;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined

The same is true for the New York Stock Exchange, NYA
http://finance.yahoo.com/echarts?s=%5ENYA

The same is true for the Power Shares, QQQQ
http://finance.yahoo.com/echarts?s=QQQQ

The same is true for the Dow Jones Industrials, DJI
http://finance.yahoo.com/echarts?s=%5EDJI
Feb 8 9908 May 26 9974

Plot the NASDAQ and you see the resistance level of the previous low on Feb 8, 2010 has not been broken.
http://finance.yahoo.com/echarts?s=%5EIXIC+Interactive#chart2:symbol=^ixic;range=1y;indicator=bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off

GE/MSNBC/GeorgeSoros/Jim Cramer/Pravda want you to sell now.

World Markets:

The Baltic Dry Index is showing resurgence in world trade. Demand for commodities is finally rising again just in time to cancel a double dip recession.
http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY%3AIND

We believe that for now the market decline is spent.

Economic Calendar
Last Week
Initial claims 05/22; Weekly jobless claims dropped by 14,000 to 460,000

Continuing Claims 05/22; declined 1% from a corrected 4656K to 4607K

GDP - Second Estimate Q1, The U.S. economy grew briskly in the first quarter, but its pace was a little weaker than originally thought, according to the government, which revised consumer and business spending lower. Gross domestic product increased by a 3.0% annual rate January through March, the Commerce Department said Thursday. In the government's original report on first quarter GDP a month ago, it estimated an increase of 3.2%.

The data also showed corporate profits picking up. After-tax earnings climbed 9.7%, better than 8.2% during the fourth quarter. Year-over-year, profits were 42.7% higher, as the economy recovers from its deep recession and unemployment remains elevated.

The GDP Deflator - Second Estimate Q1 increased 1% which is an estimate of the current inflation rate.

Personal income increased $54.4 billion, or 0.4 percent, and disposable personal income increased $57.6 billion, or 0.5 percent, in April, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $4.0 billion, or about 0.1 percent.
9:55 AM U. Michigan Consumer Sentiment May increased to 73.6 from 73.3 last month.

This week:
Jun 1 10:00 AM Construction Spending Apr
Jun 1 10:00 AM ISM Index May

Jun 2 10:00 AM Pending Home Sales Apr
Jun 2 10:30 AM Crude Inventories 05/29
Jun 2 2:00 PM Auto Sales May
Jun 2 2:00 PM Truck Sales May

Jun 3 8:15 AM ADP Employment Change May
Jun 3 8:30 AM Productivity-Rev. Q1
Jun 3 8:30 AM Unit Labor Costs Q1
Jun 3 8:30 AM Initial Claims 05/29
Jun 3 8:30 AM Continuing Claims 05/22
Jun 3 10:00 AM Factory Orders Apr
Jun 3 10:00 AM ISM Services May

Jun 4 8:30 AM Non farm Payrolls May
Jun 4 8:30 AM Unemployment Rate May
Jun 4 8:30 AM Hourly Earnings May
Jun 4 8:30 AM Average Workweek May


Market Outlook June 1, 2010
The market experienced a strong bounce off of the Feb 8 lows creating the neckline for a likely head-and-shoulders formation for the raw stock market price indices. Declines have recently been on low volume while advances have had higher than average volume. The VIX volatility index has be returning gradually to normal.

It is estimated that the Obama oil spill will add $60 to the cost of drilling new oil and will reduce the supply as well.

World Markets

Asian markets were down due to Israel and N. Korea. Shanghai down -0.9%, Hong Kong down -1.3%, India down -2.2%, and Japan down -0.6%.

Today the European markets are down in the range from -1.2% to -1.9% this morning about half way through their day.

US pre-market futures are down before the start by about -1%. U.S. Futures are a snapshot of the moment and do not correlate with what happens by the end of the day.