Reparations to pigford-v-glickman thought to be corruption initiated by Obama.

Reparations to pigford-v-glickman thought to be corruption initiated by Obama.

Steve Wynn. Recently took on the Obama socialist regime's loony government takeover plans. Some of you know him to be a Multi Billionaire, Hotelier and Real Estate Investor. He's been a guest from time to time on all the network financial news programs. 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 folks. 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 and inappropriate for a president.

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. 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 aiding firms her husband invests in.

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.

Socialist-Democrat Obama builds family wealth by favoring his wife's employer.

Most of the Washington's taxpayer money goes to the "blue" states that vote these corrupt people into office.

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.

Bernacke to loosen American credit further to avoid a slowdown.


World Markets:
Jackie Selebi, South Africa’s former police chief and a one-time president of Interpol, was sentenced to 15 years in prison by the country’s High Court following his conviction on corruption charges. First he was given authority through world affirmative action even though he is incompetent and corrupt. Judge Meyer Joffe told Selebi in delivering the sentence in Johannesburg today. “You must have been an embarrassment to all right-thinking citizens of this country. I am satisfied that a sentence of 15 years is an appropriate sentence.” He stole several $100,000s and the corrupt judge only set his bail at less than $3000, so no doubt he will jump bsil and go into hiding. South Africa is now a corrupt and dangerous place to visit.

Karzai retaliates against the international Afgan anticorruption group after they used the courts to investigate and arrest a top Karzai aid for taking bribes. Karzai blames the western corporations for offering the bribe that happens to be the cost of doing any business with Karzai. If you want to do business then you must pay the bribe and keep your mouth shut or you could have an accident.

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
GDP-Adv. Q2 +2.4% good, it is anti deflationary.
Chain Deflator-Adv. Q2 +1.8% good it is anti deflationary or good
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

Today
Aug 4 8:15 AM ADP Employment Change Jul
Aug 4 10:00 AM ISM Services Jul
Aug 4 10:30 AM Crude Inventories 07/31

This week:
Aug 5 8:30 AM Continuing Claims 07/24
Aug 5 8:30 AM Initial Claims 07/31
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 4, 2010

The stock markets penetrated the 100-day moving average line and did not retreat yet.

Soon we will know if we start the next stage up or consolidates again. Recently each advance has shown improvement and each retraction has been weaker so upward momentum is building. 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 up slightly last night. Shanghai up 0.5%, Hong Kong up 0.4%, India up 0.6%, and Japan down -2.1%.

European markets are down in a range of about -0.6% to 0% this morning about half way through their day.

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