Obama failures and corruption poison hopes of recovery unlike FDR who gave up on his socialism.

Obama failures and corruption poison hopes of recovery unlike FDR who gave up on his socialism.

The only thing we have to fear is fear itself, which consist of Obama and the democrat-socialists. Apparently we can only end the Obama Depression by throwing them all out of office. Americans seem to know that. In Florida the pollsters say the Tea Party candidate weakens the endorsed republican's chances but still the socialists get only about 15%. So the socialists still will lose.

Harry Reed, the most powerful socialist in congress has brought the highest state unemployment figures in the nation to his state.

New Jersey needs $3billion each year just for state government pensions.

Never before have we been faced with a president advancing the causes of his coalition of racists, leftist, trial lawyers, "community activists", the lazy, the incompetent, the illegal alien voters, drug abusers, the perverts, and government workers. And they would like to become the leftist majority that democratically approves the laws to allow them to legally steal from you the way Hitler stole from the wealthiest 2% in Germany. Fascism is nationalistic socialism while communism is international socialism. They are the two flavors socialism comes in when they are not experimenting with free enterprise.

World Markets:
The world continues to recover but Obama racist National Socialism is destroying the viability of American businesses and the incentive for lazy and unionized people to work. Private corporation with 50% pensions are going broke so that government workers can retire with 90% to 100% pensions and often double dip.

German exports surged to pre-recession levels. German second quarter growth just hit 2.3% and rising.

Economic Calendar
We are seeing manipulated Obama government statistics again with wide data scatter and correction as big as the reported changes.

Last week Obama disappointed the nation again last week with the report that unemployment rose 500K last month. President Bush inherited the burst Dot-com bubble recession and when he had unemployment dropping 50K per month he was ridiculed by the socialists. When he introduced tax cuts to help small business people grow employment he was ridiculed again because the socialists said he was helping "rich" people not the lazy, the union and the federal workers who were said to be "poor" people.

This week
Aug 24 10:00 AM Existing Home Sales Jul
Aug 25 8:30 AM Durable Orders Jul
Aug 25 8:30 AM Durable Goods -ex Transportation Jul
Aug 25 10:00 AM New Home Sales Jul
Aug 25 10:30 AM Crude Inventories 08/21
Aug 26 8:30 AM Initial Claims 08/21
Aug 26 8:30 AM Continuing Claims 08/14
Aug 27 8:30 AM GDP - Second Estimate Q2
Aug 27 8:30 AM GDP Deflator - Second Estimate Q2
Aug 27 9:55 AM U Michigan Consumer Sentiment


Market Outlook Aug 23, 2010

Banks that continue to be stung by mortgage fraud should be liquidated. It seems incredible that some banks still give no-doc mortgages and allow criminals to collect up to $250k and walk away to Canada or Mexico. The WSJ reported one was seeking citizenship and asylum in Canada.


What is technically wrong with this market is that it still needs to break again above the 20-day and 100 day moving averages. The May meltdown frightened a lot of people. It was not caused by a fat finger mistake. The automatic market system is flawed and unstable. It could happen again because like the Japanese car auto-acceleration problem, the SEC has no clue as to what actually caused the instability.

Volume has been extremely low on the recent Hedge Fund declines indicating that the Hedge fund short sellers are running out of cash. That could be because people do not like Hedge funds betting against them. It sounds unethical to investors so investors took $30billion out of the market so far this year. But they made a bigger mistake and bet on deflation and bought bonds. It seems incredible but Obama thinks they will buy 100year federal bonds. They will be slaughters brutally once interest rates begin rising and inflation begins.

We expect a rally to follow if the corrupt socialists are voted out of office in November. Then Obama socialism can be stopped in its tracks. The imperatives are no new taxes, no new federal programs like Obamacare, and cut state and federal do-nothing jobs. State and federal government job cuts are needed for no new taxes.

World Markets
Asian markets were flat last night. Shanghai down -0.1%, Hong Kong down -0.4%, India up 0.1%, and Japan down -0.7%.

European markets are up in a range of about 0.4% to 1% this morning about half way through their day.

US pre-market futures are up 0.4% to 0.6% this morning at 8 Am.

The Obama-Barney Frank-Christopher Dodd worldwide recession still has Americans losing jobs. Barney Frank-Christopher Dodd forced banks to loan to people who could not make the payments and Obama campaigned negatively and called the slight slowdown a Great Depression to scare the world into a depression and win the election. The only thing we have to fear is fear itself, which consists of Obama and the democrat-socialists.