Gold has been dipping below $1200 again.

Gold has been dipping below $1200 again.

Unemployment drops to 9.5%

The Baltic dry index remains quite low indicating the recovery remains slow although profits have doubled since last year. Employment always lags economic recovery.

The truth is the recovery has been about half as fast as Obama and GE/MSNBC/Pravda/Jim Cramer had been lying about all last year. Now Cramer corrects his over-optimistic previous lies by lying negatively and saying we are in a double dip recession. The truth is that this is a very slow recovery because instead of cutting taxes for corporate and individual investment Obama socialists are borrowing from the future to subsidize ACORN, socialist/communist unions, and to create government jobs for unemployable liberals who think they are too talented to do real work. Liberals want those jobs that Pelosi/ACORN have promised… where they can stay home and get a government check for professional acting (conservatives call it by the old name prostitution).

Franklin D Roosevelt (FDR) created the first Great Depression with his socialist experiment back in the 1930's when liberals thought Communism was the way of the future. Only WWII saved us from Communism because FDR had to call on Capitalists to fight Hitler. Communists at first liked Hitler because Hitler and Stalin were initially allies.

Obama's socialism could cause the world's second "Great Depression" if we do not throw them out of office this November.

The risk of hyperinflation remains low.


World Markets:
Asian markets surging.

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.
Hourly Earnings Jun fell -0.1 from a +0.2% last month- not good
Average Workweek Jun dropped to 34.1 hours from 34.2 last month. - not good
Factory Orders May declined 1.4% after increasing 1% last month- not good
This week
Jul 6 10:00 AM ISM Services Jun

Jul 7 10:30 AM Crude Inventories 07/03

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

Jul 9 10:00 AM Wholesale Inventories May

Market Outlook July 6, 2010
We are still waiting for the bounce.

The time for people and corporations to take profits is this year before the hefty Obama tax increase goes into effect. Therefore we expect to see a rise in profits as December approaches and then a drop in profits and actual tax payments next year. Socialists show their abject stupidity in not knowing that productive people can legally delay or accelerate when they report income just by when they close transactions. Socialist prefer to be tax cheats or steal from others rather than defer taxes. Real estate investing at current low prices is just one way to invest and defer profits until later when the socialists are thrown out of office.

World Markets
Asian markets were up with underlying stability last night. Shanghai up 1.9%, Hong Kong up 1.2%, India up 1%, Taiwan up 1.5%, and Japan up 0.8%.

European markets are up sharply in a range of about 2% to 3% this morning about half way through their day.

US pre-market futures are up in the range of +1% to +1.5% this morning.