For the good of America, Obama should resign from office. He and his Czars are the anchors of uncertainty holding down American economic recovery and

For the good of America, Obama should resign from office. He and his Czars are the anchors of uncertainty holding down American economic recovery and weighing down the world.

If he does not resign, Obama will be better off if he gets a Republican Congress and works with them as Clinton did.
The Republican leaders learned how arrogant and immature Republican Newt Gingrich became after the Republicans took Congress in 1994. Newt shut down Washington and then was forced to pay Washington workers for the time Washington was shut down. Republicans wondered how Newt Gingrich could be so immature, arrogant, and unprepared to not know the consequences of his Washington shutdown.

Newt's power went right to his head and he made such a fool of himself he can never ever recover again in his lifetime. Newt was so immature he actually believed he could broadcast his strategic political plans on his cell phone and expected it would make him look good. He looked instead like a dunce. He was in fact quite intelligent and a loss to the Republican Party because his immaturity and personal silliness severely damaged the credibility of conservatives.

The rich and mentally challenged socialist sympathizers (moderates) then took over the Republican Party and destroyed it by selecting Rumsfeld for a cabinet position. Colin Powell and Condoleezza Rice were great cabinet members but Rumsfeld unfortunately had the ear of President Bush. Rumsfeld arrogantly overextended America and especially the armed services. Rumsfeld was brutally cold to American soldiers. Let us hope that Republicans learned lessons from their mistakes since 1994.

James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."

Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."

In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it."

World Markets:
China continues to lead Asia and the world out of the recession. Obama continues to be a Marxist anchor and will continue weighing down the American economy with uncertainty until he is ejected or resigns from office.

Economic Calendar

This Week
Oct 25 10:00 AM Existing Home Sales Sep
Oct 26 9:00 AM Case-Shiller 20-city Index Aug
Oct 26 10:00 AM Consumer Confidence Oct
Oct 26 10:00 AM FHFA Home Price Index Aug
Oct 27 7:00 AM MBA Mortgage Applications 10/22
Oct 27 8:30 AM Durable Orders Sep
Oct 27 8:30 AM Durable Orders - ex transporation Aug - 0.5% 0.1% 2.0% -
Oct 27 10:00 AM New Home Sales Sep
Oct 27 10:30 AM Crude Inventories 10/23 -
Oct 28 8:30 AM Initial Claims 10/23 -
Oct 28 8:30 AM Continuing Claims 10/16 -
Oct 29 8:30 AM GDP-Adv. Q3 -
Oct 29 8:30 AM Chain Deflator-Adv. Q3 -
Oct 29 8:30 AM Employment Cost Index Q3 -
Oct 29 9:45 AM Chicago PMI Oct -
Oct 29 9:55 AM Michigan Sentiment Final Oct

Market Outlook Oct 25 2010
The question is whether the market is high now on rumor and about to drop on Election Day when the socialists are defeated? What if the socialists don't lose the Senate? That would not likely help the market go up either. So doesn't that mean the market has already priced in a free market victory and when it happens and more so if it doesn't happen, the market will probably drop after the election? That is why we are taking profits now. We hope you got out near the top. Volume on the declines was almost 30% higher than the recent past and close to what had once been normal exchange volume. The volume on the partial recovery the past three days declined but still was higher than the average the last three months.

There is some evidence that fund flows may be moving to the stock market. Yet there is another report out now that retirement accounts are even more heavily invested in bonds in the biggest bond bubble in the history of the FED. When the bond bubble bursts the longer-term bondholders will be devastated along with retirees who need some money to live on now. Most pension funds will just try to hold the five-year (and less) bonds and collect the fixed interest over those years. Anyone who needs money quickly will take great losses.

Debtors will be subjected to unrelenting pressure the moment interest rates start to rise because there is so much debt and an interest increase from 0.5% to just 2% would be a 300% increase in interest expense when bonds turn over.

World Markets
Asian markets were up last night. China's market was up 3.6%, Hong Kong up 0.5%, India up 0.7%, and Taiwan up 1.7%.

European markets are up this morning in a range of about 0.2% to +0.6% about half way through their day.

US pre-market futures were up in a range 0.5% to 0.7% at 8:00 AM EST.

The best thing now for America is if Obama resigns from office and we can get all of his Marxist Czars out with him.