Old man Gates wants higher income taxes. That is how old crooks work. See how clever they are.

Old man Gates wants higher income taxes. That is how old crooks work. See how clever they are.

The old crooks and communists like Adrianna give a lot of advice today. Old man Gates thinks a 4% state surcharge on income over $200,00 is a great idea. This is how it works.

Just suppose you are a stingy crook who grew up stealing change from your mom's purse and went on in business and bribed communists to land big deals in Europe and Asia. You can then demand a very big bonus every year and a big separation package because you essentially are paid now to keep your mouth shut especially about that deal to arm Osama-bin-killin and for that fortune that you split into thousands of fictitious people to avoid the limit that would trigger an election fraud investigation of the Obama-bin-smokin campaign. So by being a slimy crook you now can retire with a fortune as a fabulous leftist because you made it by stealing from people who do productive work.

You now desire to be labeled a left wing liberal do-gooder to avoid investigation by the government. But deep down you know you are just trying to beat the system and get some respect. So just how do you die a big fat famous liberal?

You do what former CT Governor Lowell Weicher and now Bill Gates is doing. You support income taxes on salaries but keep dividend taxes small or non-existent on inherited wealth. Lowell Weicher was born heir to a drug fortune and passed the first CT State income taxes from which he was exempted because all his income was from stock dividends and he had excluded dividend income from CT taxation. Smart do-gooder liberal indeed.

That is the way you can lie and cheat all life and claim you are a big do-good liberal and be exempt from criminal investigation because you favor taxes on the productive people. The sickest sycophants of society are the thieves and crooks who think they have a right to something for nothing like George Soros, Lowell Weicher, Warren Buffet, and apparently soon old man Gates.

The Huffington press Greek communist says Obama is creating a third world America… not because he is a leftist but because he does not claw back more from executives and does not allow banks to fail. She claims America is behind France now and tenth in world upward mobility. She of course is yet another clever leftist crook. Most people agree Obama's African style socialism will make America a third world country if we don't throw the leftists all out on their fat mandates. But Adrianna's spin is to claim Obama is creating a third world America because he is too conservative. These leftist lunatics are right out of A. Huxley's book, "1984." Their leftist thinking is mind bending.

World Markets:
To understand the risk of war that the world faces right now we need to look back at what FDR did in the 1930s. FDR created a Great Depression by profligate spending and by making the business sector uncertain and unstable. To unite the American people he used Japan's sneak-attack and mobilized the American military-industrial complex. Once that American industrial machine went into action the world terrorists in Europe, Africa, the Middle East, and Asia were all crushed in less than five years. FDR's Great Depression was then a thing of the past and world terrorism and torture; stonings, gassings, canning, and decapitations, were also a thing of the past.

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. Israel has been bluffing for many years that they might have nuclear weapons.

Economic Calendar
So Far
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.

Today
Oct 5 10:00 AM ISM Services Sep

This week
Oct 6 7:00 AM MBA Mortgage Application 10/01
Oct 6 8:15 AM ADP Employment Change Sep
Oct 6 10:30 AM Crude Inventories 10/02 -
Oct 7 8:30 AM Initial Claims 10/02
Oct 7 8:30 AM Continuing Claims 09/25
Oct 7 3:00 PM Consumer Credit Aug
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 5, 2010

We have had rising market bottoms and tops for two monthly cycles now but we are again hitting against the top trending line indicating some consolidation is coming. Profit taking is advisable everywhere. The rally thus far has been on low volume.

The war on terrorism could expand rapidly in the near future. Obama could bomb Pakistan into the Stone Age for harboring Osama or he could secretly be supporting a Moslem terrorist takeover of Pakistan. It is hard to understand why Obama is letting Osama destroy American supply lines in Pakistan. When will we see a witnessed and signed copy of Obama's original birth certificate not the new unsigned one Hawaii issued that they have posted on the web.

The democrat-socialist-liberal-progressives ended the session of Congress without allowing the tax cuts to be extended. Obama tax increases are now scheduled for the productive middle class and well as the small business entrepreneurs who would otherwise be hiring now. 44% of Americans now pay no taxes and vote almost exclusively for socialist who give them everything free.

World War and deflation now are the world's greatest threats just like the year before WWII. The FED is trying to raise inflation expectations to unleash the cash being held back by businesses due to Obama's incoherent policies. This is similar to the situation with FDR in 1939-40.

World Markets
Asian markets were mixed last night. China's closed, Hong Kong up 0.1%, India down -0.3%, and Japan up 1.5%.

European markets are up this morning in a range of about 0.3% to 1.3% about half way through their day.

US pre-market futures were up 0.3% to 0.5% at 8:30 AM EST.