Obama is surrounded by corruption and institutionalized bigotry against successful hard working intelligent people, be they black, yellow, or white.

Obama is surrounded by corruption and institutionalized bigotry against successful hard working intelligent people, be they black, yellow, or white. Have you ever noticed that they don't support smart hard workers like Condelessa Rice either? This is the battle of the corrupt and lazy socialists who want to rule and rob everyone who is intelligent and productive.

The congressional black caucus is now threatening anyone in congress who supports the ethics committee in rooting out corruption with being labeled a racist and having their black voters support his or her opponents. Like what? They gonna support a tea party candidate? Go fish.

To see how democrat-socialists take something that works and make it hideous See: http://www.infowars.com/steve-wynn-takes-on-washington


Ever notice how criminals never take responsibility for the decisions they make and the problems their actions caused.

Criminal socialists run Washington. Shirley Sherrod admitted she in the USDA discriminated in favor of African- Americans and against rich white folk farmers. Yet Obama as Senator got nothing for the whites the USDA discriminated against but instead got an extra $1.25 billion for 86000 afro-farmers when America only has 39697 afro-farmers? Obama shows insensitivity to Americans who think corruption in government is disgusting.

http://pajamasmedia.com/zombie/2010/07/27/pigford-v-glickman-86000-claims-from-39697-total-farmers/?singlepage=true


That is true also of the democrat-socialists. Obama is the first person ever to call a recession a depression in order to panic the financial markets and win an election. His partner Barney Frank forced banks to "help" minority neighborhoods by giving them mortgages even when they had no work ethic and were on the dole.

Obama corrupt socialist Chicago politics brings national political corruption to new highs never seen in America before. Trillions of dollars are virtually untraceable since Obama took office. There is no place the public can go to see who is getting federal dollars and who is paying it back.

Representative Maxine Waters (D-CA) builds wealth by giving federal aid to firms her husband invests in. She sees nothing wrong with that.

Democrat Barney Frank if the father of wealth redistribution to criminals who defraud Americans by lying and saying they have the means to afford government backed home mortgages. Barney ran the biggest corrupt scam from his Washington office and brought down the American economy with the help of Obama crying that it’s a Great Depression, the sky is falling."

Representative Charlie Rangle's only charity is himself. He pressures firms to make contributions to a monument to his ego. Nothing wrong with that… duh.

Socialist-Democrat Obama builds family wealth by favoring his wife's employer. Must be Bush made him do it.

Most of our taxpayer money goes to the "blue" states that vote these corrupt people into office. They get the billions to stimulate government workers who would otherwise prefer to sleep while private sector people who want to actually produce something get an unemployment check for sitting on their duffs like government workers and incompetent teachers like they just fired in DC. Those socialist teachers are such misfits they permanently damage the children and encourage them to go on the dole with a union or government job.

Now every socialist blames Bush for the results of their own corrupt activities. Ever notice how criminals never take responsibility for the decisions they make and the problems their actions caused.


http://www.crewsmostcorrupt.org/summaries/mwaters.php

Barney Frank corruption disgusts Americans just a $600,000 omission of income in one investment alone while he was a Congressman. Senator Dodd agreed not to run for office the moment his corruption investigation began. When will Obama go on trial? It costs Americans $2Million/year to get his clerk wife a salary of $375000 per year. Clerks usually get about $37,500 per year but they gave her a big title too.

Market volume has been uniformly very low since around the time Obama was elected. It could be that most investors are still disappointed and stunned by the speed at which Americans are losing freedoms with laws that are planned to go into effect after the socialists are thrown out so that the disaster will happen on the next watch when the taxes and redistribution of wealth go into effect. Then they will once again blame others for the problems they create. But the new Congress needs to show the socialists that their deceit will not work by first replacing the heads of the new social welfare offices and eliminating their support staff.


World Markets:
Japan says China is crippling the Japanese economy by buying yen so Japan cannot undercut the USA like they had been doing for sixty years. China is doing it to the USA too. It comes at a great cost because China will become brain dead as the Japanese have… because when they manipulate market forces they forget what is real and how to compete.

Corporations have cash but are also bulking up by selling corporate bonds to replace older more expensive debt at record low rates… allowing them to reduce the cost of their debt load. This will cause their income to rise substantially.

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 and corruption 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. The US government already employs more people than the top 500 corporations combined.

Economic Calendar
Last week
Employment Cost Index Q2 dropped from 0.6% to 0.5%, good
Chicago PMI Jul rose from 59.1 to 62.3 which is good see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm

U Michigan Sentiment - Final Jul rose to 67.8 from 66.5, good

Construction Spending Jun increased 0.1% after decreasing -0.2% last month. And home prices are rising to boot.
ISM Index Jul fell to 55.5 from 56.2. Anything over 50 means manufacturing is continuing to expand.
Personal Income Jun did not increase and Personal Spending Jun decreased 0.1%.
PCE Prices - Core Jun did not change
Factory Orders Jun declined -1.2% an improvement from -1.8% last month This is good, see:
http://www.martincapital.com/chart-pgs/Pg_mnord.htm
Pending Home Sales Jun declined 2.6% an improvement from -30% last month after the tax credit vanished
Auto Sales Jul improved about 10% but not final
PM Truck Sales Jul about 10% but not final

Yesterday
ADP Employment Change Jul at 42K vs. 13K last month for new private sector jobs created
ISM Services Jul up to 54.3 from 53.8 last month i.e. progress.
Crude Inventories 07/31 at 2.8M from 7.3M last week

Today
Aug 5 8:30 AM Continuing Claims 07/24
Aug 5 8:30 AM Initial Claims 07/31
This week:
Aug 6 8:30 AM Nonfarm Payrolls Jul
Aug 6 8:30 AM Nonfarm Payrolls - Private Jul
Aug 6 8:30 AM Unemployment Rate Jul
Aug 6 8:30 AM Hourly Earnings Jul
Aug 6 8:30 AM Average Workweek Jul
Aug 6 3:00 PM Consumer Credit Jun


Market Outlook Aug 5, 2010

The stock market's upward penetration of the 100-day moving average line did not retreat.

A breakout this week is now more probable. You know it is a breakout if it does not retreat immediately.

Fed Chairman Bernanke plans to loosen credit more even though there is no double dip.

The cash infusion from corporations will soon let loose a bull market and a fresh expansion of the economy.
We expect a bigger rally to also 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 and no new taxes.

World Markets
Asian markets were flat last night. Shanghai down -0.7%, Hong Kong 0%, India down -0.4%, and Japan up 1.7%.

European markets are up in a range of about 0.5% to 1.0% this morning about half way through their day.

US pre-market futures are flat at about 0% to 0.3% this morning.