Thomas Jefferson was the founder of the Democratic Party and he called government workers parasites.

Thomas Jefferson was the founder of the Democratic Party and he called government workers parasites.

Many sayings attributed to Jefferson are clearly what he thought but he did not say them as clearly and concisely as those who later paraphrased him and were quickly forgotten. It is a very dumb thing to quote the founding fathers untruthfully because even though the quotes do ring true it gives the socialist democrats and lunatic left the opportunity to claim you are a fool and to lie themselves and claim the founders said the opposite. Thomas Jefferson never said, "Any government big enough to give the people anything is big enough to take everything." What Thomas Jefferson, the founder of the Democratic Party actually said to William Ludlow in 1824 was, "I think myself, that we have more machinery of government than is necessary, too many parasites living on the labor of the industrious."
Yes, Thomas Jefferson was as extreme as Ayn Rand and he called government workers parasites.

Thomas Jefferson never coined a phrase anything like, "the tyranny of democracy is criminal" but he believed it was more than just criminal. Thomas Jefferson, the founder of the Democratic Party, said to P. Dupont in 1816; "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 other words according to Thomas Jefferson the passage of Obamacare was a crime, an abuse of power, and is breaking up the foundation of the American Republic. That is why Americans are so angry. More on Thomas Jefferson tomorrow. You will think he was more radical than the Tea Party leaders when you hear more of what he said.

Tomorrow: see what Thomas Jefferson thought about wealth redistribution by the parasites in government. The democrat-socialist-liberal-progressive-pot-heads ended the current 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 Markets:
If WWIII breaks out, the Moslem criminal organizations (as defined by Thomas Jefferson above) will go the route of Hitler and his Third Reich. 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 criminal terrorist organizations (countries) 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 as were world terrorism and torture; stonings, gassings, canning, and decapitations until the Moslems recently stepped in.

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.

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.


Today
Oct 6 8:15 AM ADP Employment Change Sep
Oct 6 10:30 AM Crude Inventories 10/02 -
This week 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 6, 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 yesterday was on normal volume and this rally not only has legs but also could break out with election euphoria from the anticipation that an American record landslide will purge socialists and communists from congress. It is too bad that Obama was able to fool so many Americans two years ago.

The war on terrorism could expand rapidly in the near future. In the movie, Tail wags the Dog" the president created a war to divert America and re-consolidate political power. Obama however is so discredited that Americans would probably riot and he would be gone too along with Moslems. It is more likely that Obama will move his image back to the center by deserting the socialists, leftist lunatics, and other potheads. According to today's Wall Street Journal the democrat socialist pothead party is now assessing the possibility of regaining the support of the youth by advocating the legalization of marijuana in all of America.

Obama 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 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. Japan started the same thing yesterday to end 20 years of dis-inflation and the market rallied and it may very well work.

World Markets
Asian markets were mixed last night. China (nothing again), Hong Kong up 1.1%, India up 0.7%, and Japan up 1.8% inflating their currency.

European markets are up this morning in a range of about 0.5% to 0.8% about half way through their day.

US pre-market futures were flat at -0.1% at 8:50 AM EST.