It is said that Obama now refuses to go to Arizona…because they now require proof of citizenship.

It is said that Obama now refuses to go to Arizona…
because they now require proof of citizenship.

Rangle is still refusing to step down like Senator Dodd did for accepting gifts from those their corrupt Senate Banking Commission regulated. That happened back when they were forcing banks to "not ask questions" so that people could get no-money-down mortgages for beautiful California homes now boarded up and gutted by the owners who needed cash.

World Markets:
Corporate spending of their massive accumulated cash reserves is beginning to surge. That will come in two forms. Corporations that think they are undervalued will buy some corporate stock back. Secondly, corporations will upgrade their data processing to improve employee productivity. That will improve hiring and inject a lot of cash into the economy. Corporations had been sinks for cash all last year but will soon be a source of cash for economic expansion. That will more than make up for flat consumer spending and will in fact trickle down into consumer spending.

Good quarterly earnings reports came out and better reports will come. But fear of Obama National Socialism has people buying treasuries and not stocks. Socialist Obama and his socialist in Congress are feared to be attempting to make the Federal Government bigger than the private sector. It already employs more people than the top 500 corporations combined.

Economic Calendar
Last week
The world markets all rose handily last week.

Building Permits Jun rose to 586K from 574K. This is great! "GeneralElectric/MSNBC/Pravda lied again and said housing was disappointing! Nonsense, it was a 4% increase. Housing permits rose 4% in one month so future housing starts will be rising too at a similar rate!

Crude Inventories 07/17 dropped from 5M to 0.4M this week. Failed leftist Obama/Chavez energy policies are driving up energy costs to make loony left energy solutions look doable. All socialist spending on those Obama projects are pure corruption, as they will fail and no one will check latter to see how many of Obama's supporters and relatives took the money.
Continuing Unemployment Claims went down because the extension of benefits was delayed by Democrats who have the votes to do whatever Obama wants.

Leading Indicators in June declined because the socialists are killing the free markets with their indifference and incompetence. Does the new SEC chairman know what a PE ratio is. Obama didn't. Once the markets go up the index will go up because the stock market is part of the index.

This week:
Jul 26 10:00 AM New Home Sales Jun
Jul 27 9:00 AM Case-Shiller 20-city Index May
Jul 27 10:00 AM Consumer Confidence Jul
Jul 28 8:30 AM Durable Orders Jun
Jul 28 8:30 AM Durable Orders ex Transportation Jun
Jul 28 10:30 AM Crude Inventories 07/24
Jul 28 2:00 PM FED's Beige Book Jul
Jul 29 8:30 AM Initial Claims 07/24
Jul 29 8:30 AM Continuing Claims 07/17
Jul 29 2:00 PM FED's Beige Book Jul
Jul 30 8:30 AM Chain Deflator-Adv. Q2
Jul 30 8:30 AM GDP-Adv. Q2
Jul 30 8:30 AM Chain Deflator-Adv. Q2
Jul 30 8:30 AM Employment Cost Index Q2
Jul 30 9:45 AM Chicago PMI Jul
Jul 30 9:55 AM U Michigan Sentiment - Final Jul


Market Outlook July 26, 2010

The BP and the Asian market news continues positive except N. Korea said it might use a nuclear bomb blow up the naval war games the US and S Korea are doing.

The cash infusion from corporations will soon let loose a bull market and a fresh expansion of the economy.

World Markets
Asian markets were up again last night. Shanghai up 0.7%, Hong Kong up 0.1%, India down -0.6%, and Japan up 0.8%.

European markets are flat in a range of about 0% to 0.3% this morning about half way through their day.

US pre-market futures are flat at about -0.2% this morning.