Obama and the jackass socialists decided to adjourned Congress with a tax increase to kill small business and regulations to destroy smaller

Obama and the jackass socialists decided to adjourned Congress with a tax increase to kill small business and regulations to destroy smaller banks.

It is no longer the donkey party vs. the elephant party. It is now the jackass party vs. the elephants.

Obama and the socialists adjourn congress without extending the Bush tax cuts and with new regulations that require small banks to create 250 new bank positions just to comply with new socialist regulations. That jackass behavior creates even more uncertainty and makes it likely that banks will get even bigger when many are already considered too big to fail.


World Markets:
Pakistan is beginning to fall to the Muslim terrorists. This is Obama's war of treachery now. Their goal is a Pakistan under Sharia law and possessing nuclear weapons. Obama still thinks, "Never let a major crisis go unexploited." The jackass party creates uncertainty and economic depression by stupidly thinking Americans are as mentally retarded as Pelosi who continues to say that her "expert communist agitator advisors" say the fasted way to stimulate the economy is to put all the cash money directly in the hands of Welfare and food stamp recipients. Since the Jackass party took over they have stimulated marihuana farm investment and drug lord wars fighting over who gets the cash infusion from the jackass Pelosi people. Since Obama took power Mexico has become destabilized by the jackass stimulation of the drug trade. The Obama jackass party has succeeded in destabilizing the world because jackass communists know that destabilization is what pushes stupid lazy people into the communist party.

Brazil stocks are near bubble levels now. The price of Silver is a jackass bubble as are many commodities because the world believes the jackasses want hyperinflation like what helped Nationalist Socialist Hitler take power and International Socialist Stalin consolidate power. Obama hopes to create a legacy and he needs to first create his "Great Jackass Depression" that he can later claim Bush created and he fixed.

The Dollar is declining as QE2 (quantitative easing) announcement approaches on Election Day. The FED will repurchase $trillions in treasuries. That means the printing press will be running to repay the Chinese and others who were buying treasuries. But because interest rates are so low on treasuries the inflation adjusted value will go negative. Initially the value of treasuries will go up but then money will flow into commodities because eventually treasuries will be eroded inflation. It is highly likely the average investor will understand what is happening and will then flee US treasuries primarily to commodities which is already driving up the commodity sector of the stock market.

Economic Calendar
So far this week
Factory Orders Aug were down -0.5% possibly mostly because last month they were first reported up 0.1% and then manipulated up 0.5%. If they did not manipulate the numbers after they are reported the variances would make more sense.
Pending Home Sales Aug were up 4.3% after first being reported up 5.1% last month. Any way you cut it this is a resumption of the housing recovery to before the tax incentive was dropped.
ISM Services Sep increased growth to 53.2 from a level of 51.5 last month
MBA Mortgage Application 10/01 declined only -0.2% after declining -0.8% last month.
ADP Employment Change Sep said 39,000 net jobs were lost and Obama was wrong. 10,000 jobs were not gained the previous month, 10,000 jobs were actually lost. Later it was admitted that Obama falsified the reporting and more than 700,000 more people last jobs than Obama reported and his claim that the stimulation package saved jobs was another jackass joke on the American people.
Crude Inventories 10/02 rose 3.1M last week after a small decline the previous month.
Continuing Claims 09/25 was down to 445K from 453K last week for an improvement. But yesterday it was revealed that the communist Obama government it doing what all communists do. Communist make up their statistics and Obama has left out reporting over 700,000 people who became unemployed by the Obama jackass policies. Jobs were only lost in America and the drug warlords, the lazy, the indigents, unions, government workers and the Al Quaeda terrorists are the only ones profiting from Obama's policies.
Initial Claims 10/02 were 445K after an increase of 453K last week.
Consumer Credit Aug contracted -$3.3 billion vs. -$3.6Billion in credit contraction last month as Americans continue to shed debt.


Today Oct 8 8:30 AM Nonfarm Payrolls Sep
Oct 8 8:30 AM Nonfarm Private Payrolls Sep
Oct 8 8:30 AM Unemployment Rate Sep -
Oct 8 8:30 AM Hourly Earnings Sep
Oct 8 8:30 AM Average Workweek Sep
Oct 8 10:00 AM Wholesale Inventories Aug


Market Outlook Oct 8, 2010

The FED has opened its mouth and put its QE2foot in it. QE2 may destabilize the treasuries and destroy their value in a panic as weary investors flee American treasuries. That would make it impossible for the US Treasury to raise money anywhere in the world. At that point jackass Obama would have to print money to pay government racist jackass socialist employees who hate white people like white farmers, white small businessmen etc. and inflation would go out of control. That is the reason for the bubble now forming in commodities. The Founding Fathers were all white protestant men. Now there is not one single white protestant man on the Supreme Court even though they remain the largest block of Americans after white protestant women as defined by the three factors race, religion, and sex. Government workers are hired with racial stereotypes and we saw from the admission of that Farm Bureau worker and the subsequent jackass administration denial and cover-up that the Government Workers in the Farm Bureau are not only racist but are cheered for their racism when they publicly admit it.

But if the jackasses are thrown out of office QE2 may be so small and the American liberties may be victorious over jackass socialist regulation and tyranny and therefore the commodity prices would return to normal.

The FED is trying to raise inflation expectations to unleash the cash being held back by businesses due to Obama's incoherent policies. But such a move is just another jackass socialist idea. This is similar to the situation with FDR in 1939-40. Japan said it would do the same thing to end 20 years of dis-inflation. The market rallied and QE2 may very well raise inflation. But we already have a commodities bubble. The steep rise in all commodity prices will be an inhibitive cost of doing business and business will need to borrow and up leverage instead of de-leveraging. Ultimately, if the jackasses are thrown out next month the threat of hyperinflation will be avoided and inflation of 2% or 3% will burst the commodity bubbles. But it is difficult to say how big the bubble could get before investors feel confident the jackass socialists democrats will be thrown out of office. It already stands to lose more than 50% of the gains of the past month. That is why we say to take profits.

The cost of new construction will rise and housing prices would recover if done gingerly. The best we could hope for is if the FED says they already secretly started QE2 and caused this present run-up. If that is the case then the will look like geniuses and the FED will appear in full control the economy and market psychology.

Something like QE2 has either never worked before, or has never been done correctly before, or was done secretly and possibly worked before. The best way would have been to do it secretly. Lets hope the FED says it already started QE2 at the start of this latest rally.

Obama may be supporting a Moslem terrorist takeover of Pakistan. It is hard to understand why Obama is letting Osama destroy American supply lines in Pakistan.

World Markets
Asian markets were down last night. China's market opened again and roared up 3.1% after missing several days of the world market advance, Hong Kong up 0.3%, India down -0.3%, and Japan down -1%.

European markets are flat this morning in a range of about 0.2% to 0.7% about half way through their day.

US pre-market futures were down at -0.2% to -0.4% at 8:00 AM EST.