BP got the Lockerbie killer released to get oil drilling rights from Muammar Qaddafi of Libya.

BP got the Lockerbie killer released to get oil drilling rights from Muammar Qaddafi of Libya.

The Lockerbie killer was not really dying within three months when he was released. It was a big BP lie. BP got deep sea drilling rights off of Libya for lobbying behind the scenes for the Lockerbie killer who planted the bomb on an airplane that took 150 American lives over Lockerbie. The killer, Abdelbaset al-Megrahi, is now living in luxury as a Libyan hero. Muammar Qaddafi will spare no expense for him. This and the sloppy handling of the BP oil spill happened on Obama's watch.

We need to make real capital by stimulating business. Consumer debt stimulation got us into the problem and Obama giving cash to ACORN and welfare folks is money thrown away and just plain dumb because it causes a sovereign debt problem and the next world crisis.

Fixing potholes is not infrastructure spending! Shovel ready projects are not infrastructure it is just maintenance of existing systems. Obama is doing nothing to benefit US infrastructure.

Setting the US economy up for failure and a socialist or communist Obama takeover is not brilliant revolutionary Obama strategy. It shows Obama is not intelligent he is plainly stupid for thinking Americans will be duped into the most archaic tribal economic system Marx could come up with. Communism is better known as the opiate of the asses.

Keynes was only half as stupid as the Obama socialists make him out to be. Raising taxes to pay for socialist Keynesian spending is not Keynesian it is just doubly stupid. It creates bigger government and waste. Keynes said spend more not tax more.


World Markets:
Follow the credit market not treasuries or stocks. The credit markets are saying there is no double dip going on in the economy. Asian markets surging too.

Economic Calendar
Last week
The jobless rate fell to 9.5 percent from 9.7 percent -good, the unemployable (those who cannot be depended upon) are no longer getting unemployment checks and are going back to the underground economy.

This week
Jul 6 10:00 AM ISM Services index for June declined slightly from 55.4 to 53.8 still expanding with normal variation.


Jul 8 8:30 AM Continuing Claims 06/26
Jul 8 8:30 AM Initial Claims 07/03
Jul 8 11:00 AM Crude Inventories 07/03
Jul 8 3:00 PM Consumer Credit May

Jul 9 10:00 AM Wholesale Inventories May

Market Outlook July 8, 2010
We got the start of the bounce.
Retailers advanced as the International Council of Shopping Centers said sales were growing at the fastest pace since 2006, easing concern that a slump in consumer confidence will undermine the economic recovery. Banks led the rally as State Street Corp. reported a profit and people with knowledge of the talks said European stress tests will pass and Europe may pay off the Greek bond loss which is now predicted to be half the original estimate of JPMorgan.

World Markets
Asian markets were up with underlying stability last night. Shanghai down -0.2%, Hong Kong up 1%, India up 1%, and Japan up 2.8%.

European markets are up in a range of about 0.5% to 1.5% this morning about half way through their day.

US pre-market futures are down in the range of -0.2%% this morning.