The people responsible for Wiki-Treason are terrorists and should be put on the terrorist to-kill list. Wiki-Treason is causing the probable deaths of innocent people who were helping to make the world a safer place. The one who stole the secrets is a gay fellow who joined the Army to kill our friends,and sabotage our national defense. He should be tried for treason.
European default contagion fears are keeping the market beneath the 21-day Moving Average. Street Smart warned that stocks have been topping out at their 21-Day Moving Average (DMA).
See: http://www.streetsmartpost.com/
Stocks also just broke down through the 50-Day Moving Average. The U.S. economy is gradually recovering but staggers under the poor decisions of the Democrat-socialists who want to increase taxes to redistribute wealth to people who can and do prefer to live on unemployment and food stamps. Hilary Clinton as much as said that Obama is funding and supplying the guns to the drug warlords who are getting a foot in America. He funds them by giving our tax dollars to the Obama supporters who buy the drugs. Obama will not allow the border states to defend themselves and stop the illegal aliens who are now organizing drug gangs in the USA. That is why America has to throw the democrat Socialists out of office.
Rio just declared war on their drug lords and Mexico is losing the war with theirs.
Banks and funds are being sued everywhere for the Senate Banking Commission follies. Fannie and Freddie are bags of festering socialist affirmative action merd where people cashed out of mortgages and never paid a cent. It is socialist corruption at its worst and they get away with it. Even retired seniors contribute more to America than the growing voting block of indigent voters the leftists created. If the Obama socialists had made rational decisions over the past two years to clean up banks, restructure debt, and liquidate irresponsible lenders, there is no doubt that we would now be on the course to a sustained recovery.
World Markets:
QE2 is something Karl Marx and most communists could never understand. They thought free enterprise capitalism was flawed because if profits were removed from the economy via capitalists, then the workers would not have enough to buy back all their products. So eventually they thought inventories would grow and everyone would get laid off (a great depression). The communists never understood economics. First of all the capitalists are not the ancient kings and queens that acquired and held family fortunes. Most of the old aristocracy went broke long ago just as the estates of capitalists also go broke today. JP Morgan is an example of how a capitalist's profits end up in a foundation that helps everyone. Bill Gates will give all his $billions away because he knows that unearned money destroys children and lasts only a generation. Likewise Warren Buffet is another example of free enterprise profits being plowed back into American innovation. It all goes back to the working productive people around the world who create job growth with their profits.
Quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then set for sustainable growth. The "cross of gold" was repudiated in many elections before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase more in real value due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when an Adolf Hitler or a Stalin rises, or a Kim Jong-il decides to destroy Beijing with an ICBM.
The fact that the mad dog remains in power shows that China also has a streak of insanity. Won't China be surprised when an insane Kim Jong-il quietly decides to nuke Beijing in revenge for brutally using the Koreans all these years as a buffer against what they now realize would have been years with food and prosperity. N. Korea has nothing to lose if they nuke China because China has kept N. Korea starving the way the USSR kept Eastern Europe starving. If the Ukraine had nuclear tipped missiles no doubt Russia would have gone up in clouds of radioactive dust by now. Famous socialists generally have been paranoid and love to periodically kill many of their own supporters to keep the rest in fear.
Since the German banks and not private sources fund the EU debt, Germany is the chief beneficiary of the EU bailout because Germany then has all profits guaranteed plus a cheaper EURO to further improve their balance of trade. Essentially Germany has always followed British and American devaluation with their own devaluation to maintain a trade advantage as Japan always did and now China does. In effect Quantitative Expansion (QE2) in the USA propagates around the world as every country tries to improve their competitive advantage.
Economic Calendar
Last week
PCE Prices - Core Oct at 0% same as last month. Not good because the goal is up +0.2%per month to avoid a double dip.
Durable Orders Oct declines -3.3% after being up 3.5% last month. Very bad
Durable Orders -ex transportation Oct down -2.7% after being down -2.4%last month. Very, very bad
Initial Claims 11/20 at 407K improved from 435K last month. Still very bad
Continuing Claims 11/13 now 4182K was 4295K. Still very bad as people drop off unemployment rolls with no jobs.
Michigan Sentiment - Final Nov 71.6 up from 69.3. Still very low but improving.
New Home Sales Oct were 283K down from 307K last month. Very bad
FHFA Home Price Index (q/q) Q3 dropped -1.6% after improving 0.9% last month. Under water and worse yet!
Crude Inventories 11/20 increased 1M. This is good and refiners have increased gasoline production so prices should come down again. Fat chance! This is hitting the American pocket book along with rising food prices.
Today
Nov 30 9:00 AM Case-Shiller 20-city Index Sep -
Nov 30 9:45 AM Chicago PMI Nov
Nov 30 10:00 AM Consumer Confidence Nov
This Week
Dec 1 7:00 AM MBA Mortgage Applications 11/26
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov
Dec 1 8:15 AM ADP Employment Report Nov
Dec 1 8:30 AM Productivity-Rev. Q3
Dec 1 8:30 AM Unit Labor Costs Q3
Dec 1 10:00 AM ISM Index Nov
Dec 1 10:00 AM Construction Spending Oct
Dec 1 10:30 AM Crude Inventories 11/27 -
Dec 1 2:00 PM Auto Sales Nov
Dec 1 2:00 PM Truck Sales Nov
Dec 1 2:00 PM Fed's Beige Book Dec
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Nov 30, 2010
The market hype can't seem to cause a breakout on the up side.
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. In 1975 the USA had a president who had played football too long before buying a helmet. He was almost as dumb as Obama. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume. Without real economic growth there is a limit to how much further corporate profits can rise. Obama socialism makes Americans know that things can only get worse in the long run. Obama socialists and the democrats still have not gotten the message. Americans do not like the socialist pickpockets much less airport gropers or sexual deviates allowed in the military.
Ultimately history shows that the socialists discretely kill all the sexual deviates the moment they can quietly get away with it. That has been the way it went in Nationalist Socialist Germany, the USSR, and in early Communist China. Hitler purged his Nationalist Socialist in one night, the night of the "long knives". The lesser-known deviates disappeared into socialist work camps. Socialist totalitarianism and sexual deviation do not mix. Once creeping socialism begins its cradle to grave control, a lot of people end up in graves. Hitler killed 20 million civilians. Russia just this past weekend admitted Stalin killed 20,000 Polish leaders in 1941 and then blamed it on Hitler. Obama always blame everyone else too. They claim Stalin killed about 80million people in the USSR and the Red Chinese killed over 200 million Chinese to control their peoples.
World Markets
Asian markets were down last night. China's market was down -1.6%, Hong Kong down -0.7%, India up 0.6%, and Japan down -1.9%.
European markets are down sharply yesterday and flat this morning in a range of about -0.1% to -0.9% half way through their day.
US pre-market futures were down slightly about -0.4% to -0.7% at 7:30 AM EST.
Tuesday, November 30, 2010
Monday, November 29, 2010
Would the world be surprised if Kim Jong-il nuked Beijing?
Would the world be surprised if Kim Jong-il nuked Beijing?
The USA and the free world should once again consider restricting technology transfer to China because China is responsible for the MAD DOG Kim Jong-il. The fact that the mad dog remains in power shows that China also has a streak of insanity. China apparently has dangerous plans and should be cut off before it is too late.
World Markets:
North Korea did not try to start a nuclear war this past weekend so world markets were open again to start another week without criminally insane communist tyrants blowing up somebody. N. Korea tells the world that Communist China is also an unstable mental case. China would rather have the N. Korean's starving and a behaving like a junk-yard dog than have a free unified Korea as a neighbor. The South Korean's would gladly ask American troops to leave if China rather than N. Korea was its neighbor. America would gladly leave S. Korea if peace were restored to the region. But China itself seems infected by mad dog Kim Jong-il and together with the Russians, China continues to harass free people on the Asian coastal islands. Why can't China stop its military imperialism in the region and become a trustworthy free world trading partner instead?
Wouldn't China be surprised if an insane Kim Jong-il quietly decided to nuke Beijing in revenge for brutally using the Koreans all these years as a buffer against what they now realize would have been years with food and prosperity. N. Korea has nothing to lose if they nuke China because China has kept N. Korea starving the way the USSR kept Eastern Europe starving. If the Ukraine had nuclear tipped missiles no doubt Russia would have gone up in clouds of radioactive dust by now.
Economic Calendar
Last week
PCE Prices - Core Oct at 0% same as last month. Not good the goal is up +0.2%per month
Durable Orders Oct declines -3.3% after being up 3.5% last month. Bad
Durable Orders -ex transportation Oct down -2.7% after being down -2.4%last month. Very bad
Initial Claims 11/20 at 407K improved from 435K last month. Still very bad
Continuing Claims 11/13 now 4182K was 4295K. still very bad as people drop off unemployment rolls with no jobs.
Michigan Sentiment - Final Nov 71.6 up from 69.3. Still very low.
New Home Sales Oct were 283K down from 307K last month. Very bad
FHFA Home Price Index (q/q) Q3 dropped -1.6% after improving 0.9% last month. Under water and worse yet.
Crude Inventories 11/20 increased 1M. This is good and refiners have increased gasoline production so prices should come down again.
This Week
Nov 30 9:00 AM Case-Shiller 20-city Index Sep -
Nov 30 9:45 AM Chicago PMI Nov
Nov 30 10:00 AM Consumer Confidence Nov
Dec 1 7:00 AM MBA Mortgage Applications 11/26
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov
Dec 1 8:15 AM ADP Employment Report Nov
Dec 1 8:30 AM Productivity-Rev. Q3
Dec 1 8:30 AM Unit Labor Costs Q3
Dec 1 10:00 AM ISM Index Nov
Dec 1 10:00 AM Construction Spending Oct
Dec 1 10:30 AM Crude Inventories 11/27 -
Dec 1 2:00 PM Auto Sales Nov
Dec 1 2:00 PM Truck Sales Nov
Dec 1 2:00 PM Fed's Beige Book Dec
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Nov 29, 2010
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
Friday the market gave up most of the gains for the week. The volatility index continues low and shows complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears were getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panicked and covered their shorts. Usually the high bull to bear ratio like the one we have now is a sign of a topped out market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume. Without real economic growth there is a limit to how much further corporate profits can rise. Obama socialism makes Americans fearful that things can only get worse. Obama socialists and the democrats still have not gotten the message. Americans do not like the socialist pickpockets much less airport gropers or sexual deviates allowed in the military. Ultimately the socialists discretely kill all the sexual deviates the moment they can quietly get away with it. That has been the way it went in Nationalist Socialist Germany, the USSR, and in early Communist China. Hitler purged his Nationalist Socialist in one night, the night of the "long knives". The lesser-known deviates disappeared into socialist work camps. Socialist totalitarianism and sexual deviation do not mix. Once creeping socialism begins its cradle to grave control, a lot of people end up in graves. Hitler killed 20 million civilians. Russia just this past weekend admitted killing another 20,000 Polish leaders that Stalin secretly executed in 1941 and then blamed on Hitler. They claim Stalin killed about 80 million people in the USSR and the Red Chinese killed over 200 million Chinese to control their peoples.
World Markets
Asian markets were improved last night. China's market was down -0.2%, Hong Kong up 1.3%, India up 1.4%, and Japan up 0.9%.
European markets are down sharply again this morning in a range of about -0.7% to -1.2% half way through their day. Since the German banks and not private sources fund the EU debt, Germany is the chief beneficiary of the EU bailout because Germany then has all profits guaranteed plus a cheaper EURO to further improve their balance of trade. Essentially Germany has always followed British and American devaluation with their own devaluation to maintain a trade advantage as Japan always did and now China does. In effect Quantitative Expansion (QE2) in the USA propagates around the world as every country tries to improve their competitive advantage.
QE is something Karl Marx and most communists have never understood. They thought free enterprise capitalism was flawed because if profits were removed from the economy via capitalists then the workers could not buy back all their products so eventually inventories would grow and everyone would get laid off. The communists never understood economics. First of all the capitalists are not the ancient kings and queens that acquire and hold family fortunes. Most of the old aristocracy went broke long ago just as the estates of capitalists also go broke today. JP Morgan is an example of how a capitalist's profits end up in a foundation that helps everyone. Bill Gates will give all his $billions away because he knows that unearned money destroys children and lasts only a generation. It all goes back to the working productive people around the world who create job growth with their profits. And quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then permitted for sustainable growth. The "cross of gold" was repudiated many times before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase in real value as well as due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when Hitler or Stalin or Kim Jong-il decides to nuke Beijing.
US pre-market futures were down about -0.6% to -1% at 8:30 AM EST.
The USA and the free world should once again consider restricting technology transfer to China because China is responsible for the MAD DOG Kim Jong-il. The fact that the mad dog remains in power shows that China also has a streak of insanity. China apparently has dangerous plans and should be cut off before it is too late.
World Markets:
North Korea did not try to start a nuclear war this past weekend so world markets were open again to start another week without criminally insane communist tyrants blowing up somebody. N. Korea tells the world that Communist China is also an unstable mental case. China would rather have the N. Korean's starving and a behaving like a junk-yard dog than have a free unified Korea as a neighbor. The South Korean's would gladly ask American troops to leave if China rather than N. Korea was its neighbor. America would gladly leave S. Korea if peace were restored to the region. But China itself seems infected by mad dog Kim Jong-il and together with the Russians, China continues to harass free people on the Asian coastal islands. Why can't China stop its military imperialism in the region and become a trustworthy free world trading partner instead?
Wouldn't China be surprised if an insane Kim Jong-il quietly decided to nuke Beijing in revenge for brutally using the Koreans all these years as a buffer against what they now realize would have been years with food and prosperity. N. Korea has nothing to lose if they nuke China because China has kept N. Korea starving the way the USSR kept Eastern Europe starving. If the Ukraine had nuclear tipped missiles no doubt Russia would have gone up in clouds of radioactive dust by now.
Economic Calendar
Last week
PCE Prices - Core Oct at 0% same as last month. Not good the goal is up +0.2%per month
Durable Orders Oct declines -3.3% after being up 3.5% last month. Bad
Durable Orders -ex transportation Oct down -2.7% after being down -2.4%last month. Very bad
Initial Claims 11/20 at 407K improved from 435K last month. Still very bad
Continuing Claims 11/13 now 4182K was 4295K. still very bad as people drop off unemployment rolls with no jobs.
Michigan Sentiment - Final Nov 71.6 up from 69.3. Still very low.
New Home Sales Oct were 283K down from 307K last month. Very bad
FHFA Home Price Index (q/q) Q3 dropped -1.6% after improving 0.9% last month. Under water and worse yet.
Crude Inventories 11/20 increased 1M. This is good and refiners have increased gasoline production so prices should come down again.
This Week
Nov 30 9:00 AM Case-Shiller 20-city Index Sep -
Nov 30 9:45 AM Chicago PMI Nov
Nov 30 10:00 AM Consumer Confidence Nov
Dec 1 7:00 AM MBA Mortgage Applications 11/26
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov
Dec 1 8:15 AM ADP Employment Report Nov
Dec 1 8:30 AM Productivity-Rev. Q3
Dec 1 8:30 AM Unit Labor Costs Q3
Dec 1 10:00 AM ISM Index Nov
Dec 1 10:00 AM Construction Spending Oct
Dec 1 10:30 AM Crude Inventories 11/27 -
Dec 1 2:00 PM Auto Sales Nov
Dec 1 2:00 PM Truck Sales Nov
Dec 1 2:00 PM Fed's Beige Book Dec
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Nov 29, 2010
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
Friday the market gave up most of the gains for the week. The volatility index continues low and shows complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears were getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panicked and covered their shorts. Usually the high bull to bear ratio like the one we have now is a sign of a topped out market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume. Without real economic growth there is a limit to how much further corporate profits can rise. Obama socialism makes Americans fearful that things can only get worse. Obama socialists and the democrats still have not gotten the message. Americans do not like the socialist pickpockets much less airport gropers or sexual deviates allowed in the military. Ultimately the socialists discretely kill all the sexual deviates the moment they can quietly get away with it. That has been the way it went in Nationalist Socialist Germany, the USSR, and in early Communist China. Hitler purged his Nationalist Socialist in one night, the night of the "long knives". The lesser-known deviates disappeared into socialist work camps. Socialist totalitarianism and sexual deviation do not mix. Once creeping socialism begins its cradle to grave control, a lot of people end up in graves. Hitler killed 20 million civilians. Russia just this past weekend admitted killing another 20,000 Polish leaders that Stalin secretly executed in 1941 and then blamed on Hitler. They claim Stalin killed about 80 million people in the USSR and the Red Chinese killed over 200 million Chinese to control their peoples.
World Markets
Asian markets were improved last night. China's market was down -0.2%, Hong Kong up 1.3%, India up 1.4%, and Japan up 0.9%.
European markets are down sharply again this morning in a range of about -0.7% to -1.2% half way through their day. Since the German banks and not private sources fund the EU debt, Germany is the chief beneficiary of the EU bailout because Germany then has all profits guaranteed plus a cheaper EURO to further improve their balance of trade. Essentially Germany has always followed British and American devaluation with their own devaluation to maintain a trade advantage as Japan always did and now China does. In effect Quantitative Expansion (QE2) in the USA propagates around the world as every country tries to improve their competitive advantage.
QE is something Karl Marx and most communists have never understood. They thought free enterprise capitalism was flawed because if profits were removed from the economy via capitalists then the workers could not buy back all their products so eventually inventories would grow and everyone would get laid off. The communists never understood economics. First of all the capitalists are not the ancient kings and queens that acquire and hold family fortunes. Most of the old aristocracy went broke long ago just as the estates of capitalists also go broke today. JP Morgan is an example of how a capitalist's profits end up in a foundation that helps everyone. Bill Gates will give all his $billions away because he knows that unearned money destroys children and lasts only a generation. It all goes back to the working productive people around the world who create job growth with their profits. And quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then permitted for sustainable growth. The "cross of gold" was repudiated many times before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase in real value as well as due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when Hitler or Stalin or Kim Jong-il decides to nuke Beijing.
US pre-market futures were down about -0.6% to -1% at 8:30 AM EST.
Friday, November 26, 2010
George Soros should be arrested and thrown in the same prison cell we used for Panama dictator Manuel Noriega.
George Soros should be arrested and thrown in the same prison cell we used for Panama dictator Manuel Noriega.
George Soros is an international alien predator that enjoys and feeds on international fear and terrorism. He is an animal that lives to destabilize the world financial systems and feeds off the ignorant and poor by destroying currencies and spreading world chaos and his mental illness. George Soros philosophy of life is a mental illness that is spreading with world chaos, fear and terrorism. He and his friends have earned a prison cell. The USA needs an American president who will hunt George Soros down and throw him in jail for life with only soap opera TV shows and People Magazine for his news of the world. Manuel Noriega was tried in the USA on eight counts of drug trafficking, racketeering, and money laundering in April 1992. Noriega's U.S. prison sentence ended in September 2007, pending the outcome of extradition requests by both Panama and France, for convictions in absentia in 1995, for murder and in 1999, money laundering, respectively. France was granted its extradition request in April 2010. He arrived in Paris on April 27, 2010, and after a re-trial as a condition of the extradition, he was found guilty and sentenced to seven years in jail in July 2010. Wen he serves that sentence he goes to Panama to be tried for murder and will likely then get the death penalty. So the USA has his old room available for George Soros and his co-conspirators.
It is very clear that Obama's declaration, that terrorists and illegal aliens cannot be profiled… is racist as well as unconstitutional. Moslems of dark skin are exempt from pat downs while fair skinned nuns get felt up at airports. It is unreasonable search. It is pat downs of frightened 3yr old white children, while people who look like terrorists are given favorable treatment. The shoe and underwear Moslem idiot terrorists got through the past searches of older white women so now Obama has them feeling up white nuns. How did American leftists get so many stupid judges appointed? We need a concerted effort to recall all the stupid leftist judges who are taking away our constitutional rights in the name of security while letting terrorists, drug lords, and illegal aliens get American driver's licenses so they can establish fake American identities.
The leftist morons need to be voted out of office and their appointed leftist judges need to be recalled. We also need a death penalty for the judges and all government officials who violate our constitutional rights and discriminate in favor of Moslem terrorists by disallowing the use of the profiling of terrorists and illegal aliens. Those leftist judges and leftist federal officials are killing Americans just as surely, as are the terrorists themselves. They are co-conspirators and should legally get the death penalty as a lesson because leftists are dangerous cowards who can easily be stopped by the fear of the death penalty. That is why leftists oppose the death penalty… they know they deserve it.
http://blogs.kansascity.com/unfettered_letters/2010/11/oklahoma-and-sharia-law.html
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
-Benjamin Franklin
Those trusted government officials who use safety as a justification to take away essential American liberty deserve the death penalty. Those other trusted government officials who cowardly stand by and just watch as Americans set stripped of their constitutional rights should themselves be stripped of their American citizenship and run out of the country on a rail.
James Madison knew how to profile the dregs of society. All of the Moslem states are welfare states under the rapacious violence of the vicious and idle Moslem fanatics who practice Sharia stupidity. They are the dregs of the world. Ban them all from entering America and deport the ones already here. We don't need them and Americans cannot trust them unless they renounce the hateful Imams who advocate Sharia law.
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."
Obama leftist now claim they represent the "majority" that Thomas Jefferson says is guilty of crime and imposes unjust laws. Obama and his majority are now exposed as the true racists who use illegal unreasonable searches to harass the minority of Americans who still have a work ethic, still pay taxes, and still are committed to helping people who truly want to work and contribute to society.
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 (the creative and productive Americans) against the usurpation and tyranny of the majority (Obama idiot leftists)."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one (the creative and productive Americans), 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 (idiot leftists) 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."
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
World Markets:
The USA and the free world should once again restrict technology transfer to China because China is responsible for the MAD DOG Kim Jong-il. The fact that the mad dog remains in power shows that China has no intention of working very long with the free world. China apparently has dangerous plans and should be cut off before it is too late.
China could successfully transition to free enterprise but not while N. Korea is governed by a mad dog. A mad dog is much more dangerous than a leader who is just a moron. The world is watching China to see if they are truly capable of leading not just stealing from the west. China should allow democratic S. Korea to assimilation N. Korea because China knows that would be best for the Korean people and China has no right keeping the N. Koreans in slavery to a failed communist ideology of jealousy, hate, slavery and insanity.
Phony bail-out of Ireland
British students riot again over the higher cost of university tuition. At one time good students got scholarships but lazy and stupid people (liberals) called that racism and stopped it. Now lazy and stupid people who vote for socialists like Obama outnumber intelligent and productive people in the free world. So I guess the intelligent and productive people in the free world can not be called racists any more because the lazy and stupid people say you can't be called a racist if you ain't got no power. So it must now be politically correct to call Obama a racist because he has the power and can steal from intelligent and productive people by raising taxes instead of cutting welfare and government affirmative action jobs. If I were a lazy, racist, and stupid person I would get a job and an education just so I could join the new minority. Some day Atlas will shrug off socialism and refuse to work as a slave.
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
GDP - Second Estimate Q3 is 2.5% up from 2% for the first estimate. Great news
GDP Deflator - Second Estimate Q3 is 2.3% same as first estimate. Then why doesn't social security reflect this?
Existing Home Sales Oct was 4.4M down from 4.5M last month. Not good at all.
Minutes of FOMC Meeting Nov 3 Fed officials raised their unemployment projections for the next two years from the 4.5% prior to Obama. Policy makers raised estimates of permanent effects of Obama policies to a 5 to 6 percent permanent unemployable underclass who vote for leftist anti-American candidates. 40% of Americans contribute nothing in taxes for any government programs and get most of the government handouts. Let us cut government size and not raise taxes until everyone pays a fair share. When the USA was created you had to own a piece of America before you had a right to vote.
Yesterday
MBA Mortgage Applications 11/19 up 2% after declining 14% last month. still low.
Personal Income Oct up 0.5% after declining 0.1% last month. good
Personal Spending Oct up 0.4% after being up 0.2% last month. good
PCE Prices - Core Oct at 0% same as last month. Not good the goal is up 0.2%per month
Durable Orders Oct declines -3.3% after being up 3.5% last month. Bad
Durable Orders -ex transportation Oct down -2.7% after being down -2.4%last month. Very bad
Initial Claims 11/20 at 407K improved from 435K last month. Still very bad
Continuing Claims 11/13 now 4182K was 4295K. still very bad as people drop off unemployment rolls with no jobs.
Michigan Sentiment - Final Nov 71.6 up from 69.3. Still very low.
New Home Sales Oct were 283K down from 307K last month. Very bad
FHFA Home Price Index (q/q) Q3 dropped -1.6% after improving 0.9% last month. Under water and worse yet.
Crude Inventories 11/20 increased 1M. This is good and refiners have increased gasoline production so prices should come down again.
Market Outlook Nov 26, 2010
The volume was very low on the Wednesday advance. That is not good.
The volatility index continues frightfully low and showing complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears are getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panic and buy to cover their shorts. Usually the high bull to bear ratio like the one we have now is a sign of a topped out market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume.
World Markets
Asian markets were down again last night. China's market was down -0.9%, Hong Kong down -0.8%, India down -0.9%, and Japan down -0.4%.
European markets were down sharply this morning up in a range of about -0.7% to -1.5% about half way through their day.
US pre-market futures were down about -0.6% to -1% at 8:30 AM EST.
George Soros is an international alien predator that enjoys and feeds on international fear and terrorism. He is an animal that lives to destabilize the world financial systems and feeds off the ignorant and poor by destroying currencies and spreading world chaos and his mental illness. George Soros philosophy of life is a mental illness that is spreading with world chaos, fear and terrorism. He and his friends have earned a prison cell. The USA needs an American president who will hunt George Soros down and throw him in jail for life with only soap opera TV shows and People Magazine for his news of the world. Manuel Noriega was tried in the USA on eight counts of drug trafficking, racketeering, and money laundering in April 1992. Noriega's U.S. prison sentence ended in September 2007, pending the outcome of extradition requests by both Panama and France, for convictions in absentia in 1995, for murder and in 1999, money laundering, respectively. France was granted its extradition request in April 2010. He arrived in Paris on April 27, 2010, and after a re-trial as a condition of the extradition, he was found guilty and sentenced to seven years in jail in July 2010. Wen he serves that sentence he goes to Panama to be tried for murder and will likely then get the death penalty. So the USA has his old room available for George Soros and his co-conspirators.
It is very clear that Obama's declaration, that terrorists and illegal aliens cannot be profiled… is racist as well as unconstitutional. Moslems of dark skin are exempt from pat downs while fair skinned nuns get felt up at airports. It is unreasonable search. It is pat downs of frightened 3yr old white children, while people who look like terrorists are given favorable treatment. The shoe and underwear Moslem idiot terrorists got through the past searches of older white women so now Obama has them feeling up white nuns. How did American leftists get so many stupid judges appointed? We need a concerted effort to recall all the stupid leftist judges who are taking away our constitutional rights in the name of security while letting terrorists, drug lords, and illegal aliens get American driver's licenses so they can establish fake American identities.
The leftist morons need to be voted out of office and their appointed leftist judges need to be recalled. We also need a death penalty for the judges and all government officials who violate our constitutional rights and discriminate in favor of Moslem terrorists by disallowing the use of the profiling of terrorists and illegal aliens. Those leftist judges and leftist federal officials are killing Americans just as surely, as are the terrorists themselves. They are co-conspirators and should legally get the death penalty as a lesson because leftists are dangerous cowards who can easily be stopped by the fear of the death penalty. That is why leftists oppose the death penalty… they know they deserve it.
http://blogs.kansascity.com/unfettered_letters/2010/11/oklahoma-and-sharia-law.html
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
-Benjamin Franklin
Those trusted government officials who use safety as a justification to take away essential American liberty deserve the death penalty. Those other trusted government officials who cowardly stand by and just watch as Americans set stripped of their constitutional rights should themselves be stripped of their American citizenship and run out of the country on a rail.
James Madison knew how to profile the dregs of society. All of the Moslem states are welfare states under the rapacious violence of the vicious and idle Moslem fanatics who practice Sharia stupidity. They are the dregs of the world. Ban them all from entering America and deport the ones already here. We don't need them and Americans cannot trust them unless they renounce the hateful Imams who advocate Sharia law.
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."
Obama leftist now claim they represent the "majority" that Thomas Jefferson says is guilty of crime and imposes unjust laws. Obama and his majority are now exposed as the true racists who use illegal unreasonable searches to harass the minority of Americans who still have a work ethic, still pay taxes, and still are committed to helping people who truly want to work and contribute to society.
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 (the creative and productive Americans) against the usurpation and tyranny of the majority (Obama idiot leftists)."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one (the creative and productive Americans), 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 (idiot leftists) 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."
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
World Markets:
The USA and the free world should once again restrict technology transfer to China because China is responsible for the MAD DOG Kim Jong-il. The fact that the mad dog remains in power shows that China has no intention of working very long with the free world. China apparently has dangerous plans and should be cut off before it is too late.
China could successfully transition to free enterprise but not while N. Korea is governed by a mad dog. A mad dog is much more dangerous than a leader who is just a moron. The world is watching China to see if they are truly capable of leading not just stealing from the west. China should allow democratic S. Korea to assimilation N. Korea because China knows that would be best for the Korean people and China has no right keeping the N. Koreans in slavery to a failed communist ideology of jealousy, hate, slavery and insanity.
Phony bail-out of Ireland
British students riot again over the higher cost of university tuition. At one time good students got scholarships but lazy and stupid people (liberals) called that racism and stopped it. Now lazy and stupid people who vote for socialists like Obama outnumber intelligent and productive people in the free world. So I guess the intelligent and productive people in the free world can not be called racists any more because the lazy and stupid people say you can't be called a racist if you ain't got no power. So it must now be politically correct to call Obama a racist because he has the power and can steal from intelligent and productive people by raising taxes instead of cutting welfare and government affirmative action jobs. If I were a lazy, racist, and stupid person I would get a job and an education just so I could join the new minority. Some day Atlas will shrug off socialism and refuse to work as a slave.
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
GDP - Second Estimate Q3 is 2.5% up from 2% for the first estimate. Great news
GDP Deflator - Second Estimate Q3 is 2.3% same as first estimate. Then why doesn't social security reflect this?
Existing Home Sales Oct was 4.4M down from 4.5M last month. Not good at all.
Minutes of FOMC Meeting Nov 3 Fed officials raised their unemployment projections for the next two years from the 4.5% prior to Obama. Policy makers raised estimates of permanent effects of Obama policies to a 5 to 6 percent permanent unemployable underclass who vote for leftist anti-American candidates. 40% of Americans contribute nothing in taxes for any government programs and get most of the government handouts. Let us cut government size and not raise taxes until everyone pays a fair share. When the USA was created you had to own a piece of America before you had a right to vote.
Yesterday
MBA Mortgage Applications 11/19 up 2% after declining 14% last month. still low.
Personal Income Oct up 0.5% after declining 0.1% last month. good
Personal Spending Oct up 0.4% after being up 0.2% last month. good
PCE Prices - Core Oct at 0% same as last month. Not good the goal is up 0.2%per month
Durable Orders Oct declines -3.3% after being up 3.5% last month. Bad
Durable Orders -ex transportation Oct down -2.7% after being down -2.4%last month. Very bad
Initial Claims 11/20 at 407K improved from 435K last month. Still very bad
Continuing Claims 11/13 now 4182K was 4295K. still very bad as people drop off unemployment rolls with no jobs.
Michigan Sentiment - Final Nov 71.6 up from 69.3. Still very low.
New Home Sales Oct were 283K down from 307K last month. Very bad
FHFA Home Price Index (q/q) Q3 dropped -1.6% after improving 0.9% last month. Under water and worse yet.
Crude Inventories 11/20 increased 1M. This is good and refiners have increased gasoline production so prices should come down again.
Market Outlook Nov 26, 2010
The volume was very low on the Wednesday advance. That is not good.
The volatility index continues frightfully low and showing complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears are getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panic and buy to cover their shorts. Usually the high bull to bear ratio like the one we have now is a sign of a topped out market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume.
World Markets
Asian markets were down again last night. China's market was down -0.9%, Hong Kong down -0.8%, India down -0.9%, and Japan down -0.4%.
European markets were down sharply this morning up in a range of about -0.7% to -1.5% about half way through their day.
US pre-market futures were down about -0.6% to -1% at 8:30 AM EST.
Wednesday, November 24, 2010
The world has a lot to learn from China. Can a totalitarian socialist nation peacefully transition to an autonomous entrepreneurial state without a t
The world has a lot to learn from China. Can a totalitarian socialist nation peacefully transition to an autonomous entrepreneurial state without a transitory gangster era or a blood bath occurring?
It is very clear that Obama's declaration that terrorists and illegal aliens cannot be profiled is racist as well as unconstitutional. Moslems of dark skin are exempt from pat downs while fair skinned nuns get felt up at airports. That is not just stupidity… it is unconstitutional. It is unreasonable search. It is stupid pat downs of frightened 3yr old white children while people who look like terrorists are given favorable treatment. The shoe and underwear Moslem terrorists got through the past searches of older white women so now they are feeling up white nuns. How did American leftists get so many judges appointed? We need a concerted effort to recall all the leftists who are taking away our constitutional rights in the name of security while letting terrorists, drug lords, and illegal aliens get American driver's licenses so they can establish fake American identities.
The leftist need to be voted out of office and their appointed leftist judges need to be recalled. We also need a death penalty for the judges and all government officials who violate our constitutional rights and discriminate in favor of insane Moslem terrorists by disallowing the use of the profiling of terrorists and illegal aliens. Those leftist judges and leftist federal officials are killing Americans just as surely, as are the terrorists are themselves. They are co-conspirators and should get the death penalty as a lesson because leftists are dangerous cowards who can easily be stopped by the fear of the death penalty.
http://blogs.kansascity.com/unfettered_letters/2010/11/oklahoma-and-sharia-law.html
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
-Benjamin Franklin
Those trusted government officials who use safety as a justification to take away essential American liberty deserve the death penalty. Those trusted government officials who stand by and watch Americans stripped of their constitutional rights should themselves be stripped of their American citizenship and run out of the country on a rail.
James Madison knew how to profile the dregs of society. All of the Moslem states are welfare states under the rapacious violence of the vicious and idle Moslem fanatics who practice Sharia stupidity. Ban them all from entering America and deport the ones already here. We don't need them and Americans cannot trust them unless they renounce the hateful Imams who advocate Sharia law.
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."
Well, Obama leftist claim they represent the "majority" that Thomas Jefferson says are therefore guilty of crime as they impose unjust laws.
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 (the creative and productive Americans) against the usurpation and tyranny of the majority (the "Obama idiot" leftists)."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one (the creative and productive Americans), 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 (idiot leftists) 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."
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
World Markets:
China could successfully transition to free enterprise. If they do they could then unlock pent-up creativity and become a true world leader not the pirate kingdom they are today as they steal and copy western technology with complete abandonment. The lack of true creativity was what brought Japan down. The world is watching China to see if they are truly capable of leading not just copying the west.
Mad dog Kim Jong-il is set to be the next communist homicidal maniac to run the N. Korean death camp. Communism is just the end result of creeping socialism. China would do the world a favor if they would decapitate the N. Korean government and support ate assimilation of N. Korea into the democratic S. Korea.
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
GDP - Second Estimate Q3 is 2.5% up from 2% for the first estimate. Great news
GDP Deflator - Second Estimate Q3 is 2.3% same as first estimate. Then why doesn't social security reflect this?
Existing Home Sales Oct was 4.4M down from 4.5M last month. Not good at all.
Minutes of FOMC Meeting Nov 3 Fed officials raised their unemployment projections for the next two years from the 4.5% prior to Obama. Policy makers raised estimates of permanent effects of Obama policies to a 5 to 6 percent permanent unemployable underclass who vote for leftist anti-American candidates. 40% of Americans contribute nothing in taxes for any government programs and get most of the government handouts. Let us cut government size and not raise taxes until everyone pays a fair share. When the USA was created you had to own a piece of America before you had a right to vote.
This Week
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 24, 2010
The volatility index is frightfully low and showing complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears are getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panic and buy to cover their shorts.
Based on the cash flow out of the market it looks like one additional consolidation period may be needed for the bull market to resume.
World Markets
Asian markets were mixed last night. China's market was up 1.1%, Hong Kong up 0.6%, India market down -1.2%, and Japan down -0.8%.
European markets were down sharply yesterday this morning up in a range of about 0.3% to 1.3% about half way through their day.
US pre-market futures were up about 0.1% to 0.3% at 8:00 AM EST.
It is very clear that Obama's declaration that terrorists and illegal aliens cannot be profiled is racist as well as unconstitutional. Moslems of dark skin are exempt from pat downs while fair skinned nuns get felt up at airports. That is not just stupidity… it is unconstitutional. It is unreasonable search. It is stupid pat downs of frightened 3yr old white children while people who look like terrorists are given favorable treatment. The shoe and underwear Moslem terrorists got through the past searches of older white women so now they are feeling up white nuns. How did American leftists get so many judges appointed? We need a concerted effort to recall all the leftists who are taking away our constitutional rights in the name of security while letting terrorists, drug lords, and illegal aliens get American driver's licenses so they can establish fake American identities.
The leftist need to be voted out of office and their appointed leftist judges need to be recalled. We also need a death penalty for the judges and all government officials who violate our constitutional rights and discriminate in favor of insane Moslem terrorists by disallowing the use of the profiling of terrorists and illegal aliens. Those leftist judges and leftist federal officials are killing Americans just as surely, as are the terrorists are themselves. They are co-conspirators and should get the death penalty as a lesson because leftists are dangerous cowards who can easily be stopped by the fear of the death penalty.
http://blogs.kansascity.com/unfettered_letters/2010/11/oklahoma-and-sharia-law.html
Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.
-Benjamin Franklin
Those trusted government officials who use safety as a justification to take away essential American liberty deserve the death penalty. Those trusted government officials who stand by and watch Americans stripped of their constitutional rights should themselves be stripped of their American citizenship and run out of the country on a rail.
James Madison knew how to profile the dregs of society. All of the Moslem states are welfare states under the rapacious violence of the vicious and idle Moslem fanatics who practice Sharia stupidity. Ban them all from entering America and deport the ones already here. We don't need them and Americans cannot trust them unless they renounce the hateful Imams who advocate Sharia law.
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."
Well, Obama leftist claim they represent the "majority" that Thomas Jefferson says are therefore guilty of crime as they impose unjust laws.
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 (the creative and productive Americans) against the usurpation and tyranny of the majority (the "Obama idiot" leftists)."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one (the creative and productive Americans), 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 (idiot leftists) 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."
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
World Markets:
China could successfully transition to free enterprise. If they do they could then unlock pent-up creativity and become a true world leader not the pirate kingdom they are today as they steal and copy western technology with complete abandonment. The lack of true creativity was what brought Japan down. The world is watching China to see if they are truly capable of leading not just copying the west.
Mad dog Kim Jong-il is set to be the next communist homicidal maniac to run the N. Korean death camp. Communism is just the end result of creeping socialism. China would do the world a favor if they would decapitate the N. Korean government and support ate assimilation of N. Korea into the democratic S. Korea.
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
GDP - Second Estimate Q3 is 2.5% up from 2% for the first estimate. Great news
GDP Deflator - Second Estimate Q3 is 2.3% same as first estimate. Then why doesn't social security reflect this?
Existing Home Sales Oct was 4.4M down from 4.5M last month. Not good at all.
Minutes of FOMC Meeting Nov 3 Fed officials raised their unemployment projections for the next two years from the 4.5% prior to Obama. Policy makers raised estimates of permanent effects of Obama policies to a 5 to 6 percent permanent unemployable underclass who vote for leftist anti-American candidates. 40% of Americans contribute nothing in taxes for any government programs and get most of the government handouts. Let us cut government size and not raise taxes until everyone pays a fair share. When the USA was created you had to own a piece of America before you had a right to vote.
This Week
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 24, 2010
The volatility index is frightfully low and showing complacency with all the chaos of the world today. Bulls vastly outnumber bears and bears are getting squeezed hard. A major short squeeze could very well be what was driving the market up. The shorts panic and buy to cover their shorts.
Based on the cash flow out of the market it looks like one additional consolidation period may be needed for the bull market to resume.
World Markets
Asian markets were mixed last night. China's market was up 1.1%, Hong Kong up 0.6%, India market down -1.2%, and Japan down -0.8%.
European markets were down sharply yesterday this morning up in a range of about 0.3% to 1.3% about half way through their day.
US pre-market futures were up about 0.1% to 0.3% at 8:00 AM EST.
Tuesday, November 23, 2010
N. Korea is the current poster child for the obvious criminal insanity of communism. Communism is the end result of creeping socialism.
N. Korea is the current poster child for the obvious criminal insanity of communism. Communism is the end result of creeping socialism.
Obama fiddles while American economy falters. Obama's first priority is to get sexual deviates into the US military not extending tax cuts to get new private sector jobs created. Once it is legalized, outing deviates will be grounds for dismissing the straight soldiers.
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking meltdown.
Finally after two years Obama begins to investigate. But he cares more about Wall Street insider information in stocks not the leftists who continually raid the corporation till. Leftists do not take personal responsibility because they think that is governments job. Capitalists like Steve Jobs, and Bill Gates get high salaries only when they grow their companies and employ more people. Then when they die they create foundations to give their money away. Leftist Obama socialist executives like Brian Moynihan and GM CEOs can be expected to raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why none of the thieves have gone to jail and they continue to steal even as the economy goes down.
World Markets:
North Korea shells S. Korea again. Mad dog Kim Jong-il is set to be the next communist homicidal maniac to run the N. Korean death camp. Communism is just the end result of creeping socialism.
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
This Week
Nov 23 8:30 AM GDP - Second Estimate Q3
Nov 23 8:30 AM GDP Deflator - Second Estimate Q3
Nov 23 10:00 AM Existing Home Sales Oct
Nov 23 2:00 PM Minutes of FOMC Meeting Nov 3
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 23, 2010
N. Korea is the poster child for the obvious criminal insanity of communism. Once again N. Korea has murdered South Koreans.
What happened to the Hindenburg omen stock market crash formation that recently predicted a market collapse just around the corner?
http://www.youtube.com/watch?v=o1U4vAV2-7Q
We expect Gold and Silver prices to drop to their highs of last year and form a new base at that level. Remember that after the run-up last year the gold prices dropped to previous lows and advisors predicted gold would be flat for five to ten years. We are a little more optimistic and believe last year's lows will not be seen again for about fifteen years. Remember that gold dropped 75% when Ronald Reagan got inflation under control. So far we have not even begun to see hints of inflation. Commodities like crude oil were $140/barrel just two years ago and are now at about $84/barrel. That $140 was reached when the world was at a record growth rate and American was roaring ahead with only 4.5% unemployment. We may not see that again for 15 years.
Currently we think we are closer to the top than to the bottom of the stock market trend line. If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking. We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
World Markets
Asian markets were down sharply last night. China's market was down -1.9%, Hong Kong down -2.7%, India market down -1.3%, and Japan closed.
European markets are down this morning in a range of about -0.2% to -1.2% about half way through their day.
US pre-market futures were down about -0.4% to -0.6% at 7:30 AM EST.
Obama fiddles while American economy falters. Obama's first priority is to get sexual deviates into the US military not extending tax cuts to get new private sector jobs created. Once it is legalized, outing deviates will be grounds for dismissing the straight soldiers.
Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking meltdown.
Finally after two years Obama begins to investigate. But he cares more about Wall Street insider information in stocks not the leftists who continually raid the corporation till. Leftists do not take personal responsibility because they think that is governments job. Capitalists like Steve Jobs, and Bill Gates get high salaries only when they grow their companies and employ more people. Then when they die they create foundations to give their money away. Leftist Obama socialist executives like Brian Moynihan and GM CEOs can be expected to raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why none of the thieves have gone to jail and they continue to steal even as the economy goes down.
World Markets:
North Korea shells S. Korea again. Mad dog Kim Jong-il is set to be the next communist homicidal maniac to run the N. Korean death camp. Communism is just the end result of creeping socialism.
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and to donate more to Obama.
Economic Calendar
This Week
Nov 23 8:30 AM GDP - Second Estimate Q3
Nov 23 8:30 AM GDP Deflator - Second Estimate Q3
Nov 23 10:00 AM Existing Home Sales Oct
Nov 23 2:00 PM Minutes of FOMC Meeting Nov 3
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 23, 2010
N. Korea is the poster child for the obvious criminal insanity of communism. Once again N. Korea has murdered South Koreans.
What happened to the Hindenburg omen stock market crash formation that recently predicted a market collapse just around the corner?
http://www.youtube.com/watch?v=o1U4vAV2-7Q
We expect Gold and Silver prices to drop to their highs of last year and form a new base at that level. Remember that after the run-up last year the gold prices dropped to previous lows and advisors predicted gold would be flat for five to ten years. We are a little more optimistic and believe last year's lows will not be seen again for about fifteen years. Remember that gold dropped 75% when Ronald Reagan got inflation under control. So far we have not even begun to see hints of inflation. Commodities like crude oil were $140/barrel just two years ago and are now at about $84/barrel. That $140 was reached when the world was at a record growth rate and American was roaring ahead with only 4.5% unemployment. We may not see that again for 15 years.
Currently we think we are closer to the top than to the bottom of the stock market trend line. If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking. We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
World Markets
Asian markets were down sharply last night. China's market was down -1.9%, Hong Kong down -2.7%, India market down -1.3%, and Japan closed.
European markets are down this morning in a range of about -0.2% to -1.2% about half way through their day.
US pre-market futures were down about -0.4% to -0.6% at 7:30 AM EST.
Monday, November 22, 2010
Obama fiddles while American economy falters. Obama's first priority is to get sexual deviates into the US military.
Obama fiddles while American economy falters. Obama's first priority is to get sexual deviates into the US military instead of extending tax cuts to get new private sector jobs created. Once it is legalized, outing them will be grounds for dismissing straight soldiers. Obama's civil trials of terrorists resulted in the dismissal of 99.5% of the charges of the first terrorist. The terrorist probably has already served more time than is needed for parole for his 20-year sentence. Remember that tele-evangelist (Tammy Fay's husband) who got a 40 year sentence for running a time share condominium that went bankrupt (1990's)? Preachers get 40 years prison while terrorists get 20 years and Obama's predator friends like George Soros run free.
Finally after two years Obama begins to investigate. But he cares more about Wall Street insider information in stocks not the leftists who continually raid the corporation till. Leftists do not take personal responsibility because they think that is governments job. Capitalists like Steve Jobs, and Bill Gates get high salaries only when they grow their companies and employ more people. Then when they die they create foundations to give their money away. Leftist Obama socialist executives like Brian Moynihan and GM CEOs can be expected to raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why none of the thieves have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that leftist racist practice. In the mean time leftist have taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
World Markets:
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and donate more to Obama.
Last week an American reporter was gunned down in California as she was driving. That is the first such homicide this year. Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. The prosecution now amounts to nothing less than persecution of his entire family. The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads. This is where national gangster socialism leads. Hitler and Stalin were Socialists too. All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
QE2 seems to drive bond values lower. It may be the last straw for the bond market bubble that was based on falling rates.
Economic Calendar
Last Friday
Initial Claims 11/13 439K up from 435K even as Obama moved 8K from this week to last week as good communists always do to give favorable peoples news. Otherwise this wee the Peoples Socialist Republic of America would have reported new claims at 447K up 12K or 3% from last week… not good.
Continuing Claims 11/06 were at 4295K down from 4301K last week as more American give up and join the welfare state and live on the dole.
Leading Indicators Oct were up 0.5% after being up 0.3% last month. This was driven by the stock market recovery after the defeat of the Socialist-Democrats the first week of November.
Philadelphia Fed Nov- The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of 1.0 in October to 22.5 in November. This is the highest reading in the index since last December. Indexes for new orders and shipments also improved this month. Indexes for both delivery times and un-filled orders changed from negative to positive this month, suggesting improvement. However, grow rate slowed.
This Week
Nov 22 8:30 AM GDP - Second Estimate Q3
Nov 23 8:30 AM GDP Deflator - Second Estimate Q3
Nov 23 10:00 AM Existing Home Sales Oct
Nov 23 2:00 PM Minutes of FOMC Meeting Nov 3
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 22, 2010
We expect Gold and Silver prices to drop to their highs of last year and form a new base at that level. Remember that after the run-up last year the gold prices dropped to previous lows and advisors predicted gold would be flat for five to ten years. We are a little more optimistic and believe last year's lows will not be seen again for about fifteen years. Remember that gold dropped 75% when Ronald Reagan got inflation under control. So far we have not even begun to see hints of inflation. Commodities like crude oil were $140/barrel just two years ago and are now at about $84/barrel. That $140 was reached when the world was at a record growth rate and American was roaring ahead with only 4.5% unemployment. We may not see that again for 15 years.
There is much ballyhoo speculation that American consumers are now ready to buy more this Christmas season. We have not seen any evidence yet. We think we are in a 1970s type period of lateral market movement in a +- 10% band. We expect spot shortages in commodities because inventories are kept very low. It is possible the shortages will prompt earlier shopping and fewer discounts. Then the prediction of higher consumption this Xmas could be self-fulfilling if consumers think stores will run out.
Currently we think we are closer to the top than to the bottom of the stock market trend line. If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking. We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price inflation to begin this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were up last night after the recent plunge. China's market was down -0.2%, Hong Kong down -0.4%, India market up 1.9%, and Japan up 0.9%.
European markets are mixed this morning in a range of about -0.4% to +0.2% about half way through their day.
US pre-market futures were flat about -0.1% at 8:30 AM EST.
Finally after two years Obama begins to investigate. But he cares more about Wall Street insider information in stocks not the leftists who continually raid the corporation till. Leftists do not take personal responsibility because they think that is governments job. Capitalists like Steve Jobs, and Bill Gates get high salaries only when they grow their companies and employ more people. Then when they die they create foundations to give their money away. Leftist Obama socialist executives like Brian Moynihan and GM CEOs can be expected to raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why none of the thieves have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that leftist racist practice. In the mean time leftist have taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
World Markets:
Phony bail-out
Ireland accepted loans from the EU now to prevent a run on their banks. The banks that Ireland owes are the banks bailing out Ireland. In other words the world banks that Ireland owes are now loaning Ireland more money so Ireland can make payments on their earlier loans. This is fraud because it is deceit in that it does not solve the problem it makes it worse. It is like giving someone with no means of support a loan to make payments on a home mortgage so the bank can hide the fact that the mortgage is now worthless. Socialists think that kind of redistribution of wealth is the purpose of banking and that profits for shareholders are evil. Socialist CEOs also rob the till to keep those evil profits lower and donate more to Obama.
Last week an American reporter was gunned down in California as she was driving. That is the first such homicide this year. Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. The prosecution now amounts to nothing less than persecution of his entire family. The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads. This is where national gangster socialism leads. Hitler and Stalin were Socialists too. All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
QE2 seems to drive bond values lower. It may be the last straw for the bond market bubble that was based on falling rates.
Economic Calendar
Last Friday
Initial Claims 11/13 439K up from 435K even as Obama moved 8K from this week to last week as good communists always do to give favorable peoples news. Otherwise this wee the Peoples Socialist Republic of America would have reported new claims at 447K up 12K or 3% from last week… not good.
Continuing Claims 11/06 were at 4295K down from 4301K last week as more American give up and join the welfare state and live on the dole.
Leading Indicators Oct were up 0.5% after being up 0.3% last month. This was driven by the stock market recovery after the defeat of the Socialist-Democrats the first week of November.
Philadelphia Fed Nov- The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of 1.0 in October to 22.5 in November. This is the highest reading in the index since last December. Indexes for new orders and shipments also improved this month. Indexes for both delivery times and un-filled orders changed from negative to positive this month, suggesting improvement. However, grow rate slowed.
This Week
Nov 22 8:30 AM GDP - Second Estimate Q3
Nov 23 8:30 AM GDP Deflator - Second Estimate Q3
Nov 23 10:00 AM Existing Home Sales Oct
Nov 23 2:00 PM Minutes of FOMC Meeting Nov 3
Nov 24 7:00 AM MBA Mortgage Applications 11/19
Nov 24 8:30 AM Personal Income Oct
Nov 24 8:30 AM Personal Spending Oct
Nov 24 8:30 AM PCE Prices - Core Oct
Nov 24 8:30 AM Durable Orders Oct
Nov 24 8:30 AM Durable Orders -ex transportation Oct
Nov 24 8:30 AM Initial Claims 11/20
Nov 24 8:30 AM Continuing Claims 11/13
Nov 24 9:55 AM Michigan Sentiment - Final Nov
Nov 24 10:00 AM New Home Sales Oct
Nov 24 10:00 AM FHFA Home Price Index (q/q) Q3
Nov 24 10:30 AM Crude Inventories 11/20
Nov 24 2:00 PM Minutes of FOMC Meeting Nov 3
Market Outlook Nov 22, 2010
We expect Gold and Silver prices to drop to their highs of last year and form a new base at that level. Remember that after the run-up last year the gold prices dropped to previous lows and advisors predicted gold would be flat for five to ten years. We are a little more optimistic and believe last year's lows will not be seen again for about fifteen years. Remember that gold dropped 75% when Ronald Reagan got inflation under control. So far we have not even begun to see hints of inflation. Commodities like crude oil were $140/barrel just two years ago and are now at about $84/barrel. That $140 was reached when the world was at a record growth rate and American was roaring ahead with only 4.5% unemployment. We may not see that again for 15 years.
There is much ballyhoo speculation that American consumers are now ready to buy more this Christmas season. We have not seen any evidence yet. We think we are in a 1970s type period of lateral market movement in a +- 10% band. We expect spot shortages in commodities because inventories are kept very low. It is possible the shortages will prompt earlier shopping and fewer discounts. Then the prediction of higher consumption this Xmas could be self-fulfilling if consumers think stores will run out.
Currently we think we are closer to the top than to the bottom of the stock market trend line. If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking. We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price inflation to begin this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were up last night after the recent plunge. China's market was down -0.2%, Hong Kong down -0.4%, India market up 1.9%, and Japan up 0.9%.
European markets are mixed this morning in a range of about -0.4% to +0.2% about half way through their day.
US pre-market futures were flat about -0.1% at 8:30 AM EST.
Friday, November 19, 2010
Government Motors was a black hole yesterday that took a vast block of cash out of the market and created an imbalance of long positions.
Government Motors was a black hole yesterday that took a vast block of cash out of the market and created an imbalance of long positions.
Leftist bankers believe shareholders owe them a living and taking the highest salaries and selflessly transfer wealth to their crooked rich George Soros type cronies with special deals that steal from shareholders and Americans. They stack their director boards with cronies who all pillage the companies while maintaining a generous outward appearance as the squander American capital resources. Obama has done nothing to claw back their theft. Even the former SEC chairmen were stealing high salaries and golden parachutes from US taxpayers. The Obama administration is the most corrupt in American history. While Obama's family and friends line their pockets with taxpayer money new incorporations of businesses have not kept pace with businesses closing their doors. Unemployment can not be brought under control when leftists with friends in government take over the management of banks. Obama is using the power of the presidency to subvert the American free enterprise system with subversive leftists who get their CEO jobs based on who they know not what they know. Obama and the leftists eventually will steal all the assets from the stockholders.
Capitalists get high salaries only when they grow their companies and employ more people. Leftist Obama socialist executives raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why no socialists have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Racist/leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
Obama's Nigerian Aunt is on USA welfare now and told the press she had a right to USA welfare because the USA prosperity was not earned but was a gift from her gods.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals = zero American opportunity, which equals = zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero corruption avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to leftist racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
World Markets:
China is making additional attempts to control inflation bubbles and just raised borrowing rats by 0.5%. Asian markets stabilized. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop of wheat and soy but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
Ireland will accept loans from the EU now to prevent a run on their banks. California and about five other states are in similar positions today.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
This week so far:
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Producer Price Index Oct at 0.4% same as last month
Core Producer PI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
MBA Mortgage Applications 11/12 dropped -14.4% vs. being up last month by +5.8%-very bad
CPI Oct up 0.2% improved slightly over being up 0.1% last month.
Core CPI Oct up 0% after being up 0% last month. No recovery in progress. The FED wants about *0.2% each month to avoid stagnation.
Housing Starts Oct were 519K down from 610K last month. -not good
Building Permits Oct were 550K up from 539K last month. OK
Crude Inventories 11/13 up 7.3M after being down 3M last month indicating oil prices are too high.
Yesterday
Initial Claims 11/13 439K up from 435K even as Obama moved 8K from this week to last week as good communists always do to give favorable peoples news. Otherwise this wee the Peoples Socialist Republic of America would have reported new claims at 447K up 12K or 3% from last week… not good.
Continuing Claims 11/06 were at 4295K down from 4301K last week as more American give up and join the welfare state and live on the dole.
Leading Indicators Oct were up 0.5% after being up 0.3% last month. This was driven by the stock market recovery after the defeat of the Socialist-Democrats the first week of November.
Philadelphia Fed Nov- The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of 1.0 in October to 22.5 in November. This is the highest reading in the index since last December. Indexes for new orders and shipments also improved this month. Indexes for both delivery times and un-filled orders changed from negative to positive this month, suggesting improvement. However, grow rate slowed.
Market Outlook Nov 19, 2010
Market at a critical juncture.
We think we are in a 1970s type period of lateral market movement in a +- 10% band. Currently we think we are closer to the top than to the bottom of the band.
If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking.
We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
The government motors (GM) IPO sucked all the oxygen out of Wall Street yesterday. We think GM will only survive if Obama succeeds in making the USA a socialist republic.
Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. That is why the FED is doing QE2 and so far it has not had much of an effect.
Congratulation GE/MSNBC/Pravda for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get now even for American companies investing in the USA. The Obama reds are restricting growth and employment. They need more crises to justify more communist inroads.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price inflation to begin this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down slightly last night after the recent plunge. China's market was up 0.8%, Hong Kong down -0.1%, India market down -1.7%, and Japan up 0.1%.
European markets are down this morning in a range of about -0.4% to -1.2% about half way through their day.
US pre-market futures were down about -0.4% at 8:30 AM EST.
Leftist bankers believe shareholders owe them a living and taking the highest salaries and selflessly transfer wealth to their crooked rich George Soros type cronies with special deals that steal from shareholders and Americans. They stack their director boards with cronies who all pillage the companies while maintaining a generous outward appearance as the squander American capital resources. Obama has done nothing to claw back their theft. Even the former SEC chairmen were stealing high salaries and golden parachutes from US taxpayers. The Obama administration is the most corrupt in American history. While Obama's family and friends line their pockets with taxpayer money new incorporations of businesses have not kept pace with businesses closing their doors. Unemployment can not be brought under control when leftists with friends in government take over the management of banks. Obama is using the power of the presidency to subvert the American free enterprise system with subversive leftists who get their CEO jobs based on who they know not what they know. Obama and the leftists eventually will steal all the assets from the stockholders.
Capitalists get high salaries only when they grow their companies and employ more people. Leftist Obama socialist executives raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why no socialists have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Racist/leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
Obama's Nigerian Aunt is on USA welfare now and told the press she had a right to USA welfare because the USA prosperity was not earned but was a gift from her gods.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals = zero American opportunity, which equals = zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero corruption avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to leftist racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
World Markets:
China is making additional attempts to control inflation bubbles and just raised borrowing rats by 0.5%. Asian markets stabilized. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop of wheat and soy but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
Ireland will accept loans from the EU now to prevent a run on their banks. California and about five other states are in similar positions today.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
This week so far:
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Producer Price Index Oct at 0.4% same as last month
Core Producer PI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
MBA Mortgage Applications 11/12 dropped -14.4% vs. being up last month by +5.8%-very bad
CPI Oct up 0.2% improved slightly over being up 0.1% last month.
Core CPI Oct up 0% after being up 0% last month. No recovery in progress. The FED wants about *0.2% each month to avoid stagnation.
Housing Starts Oct were 519K down from 610K last month. -not good
Building Permits Oct were 550K up from 539K last month. OK
Crude Inventories 11/13 up 7.3M after being down 3M last month indicating oil prices are too high.
Yesterday
Initial Claims 11/13 439K up from 435K even as Obama moved 8K from this week to last week as good communists always do to give favorable peoples news. Otherwise this wee the Peoples Socialist Republic of America would have reported new claims at 447K up 12K or 3% from last week… not good.
Continuing Claims 11/06 were at 4295K down from 4301K last week as more American give up and join the welfare state and live on the dole.
Leading Indicators Oct were up 0.5% after being up 0.3% last month. This was driven by the stock market recovery after the defeat of the Socialist-Democrats the first week of November.
Philadelphia Fed Nov- The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of 1.0 in October to 22.5 in November. This is the highest reading in the index since last December. Indexes for new orders and shipments also improved this month. Indexes for both delivery times and un-filled orders changed from negative to positive this month, suggesting improvement. However, grow rate slowed.
Market Outlook Nov 19, 2010
Market at a critical juncture.
We think we are in a 1970s type period of lateral market movement in a +- 10% band. Currently we think we are closer to the top than to the bottom of the band.
If you ignore market cash flows the stock market tells chartists that we are at a critical juncture. We slightly exceeded the previous high for the year and fell back to the previous high and held there this week. Therefore they are hoping for a solid advance of 3% or 4% that would indicate another bull market in stock prices to their way of thinking.
We on the other hand weight the price index with the volume index and see market's new high is still 6% lower than its last high on a cash flow basis. In fact we see that when we consider cash flows, the previous high in April 2010 topped out at the level of the high at the end of 2009. Therefore it would take a 6.4% run-up to get to the previous highs of both last December and April and for us to say a bull market even has a chance to start. So from our viewpoint buying or selling short at this juncture is pure speculation with the sellers having market cash flows on their side. Even commodity prices could falter as China reigns in inflation as it did in 2008 when the commodity markets collapsed. We also have five EU countries and six American states ready to collapse if this recession lasts much longer or a crisis occurs.
The government motors (GM) IPO sucked all the oxygen out of Wall Street yesterday. We think GM will only survive if Obama succeeds in making the USA a socialist republic.
Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. That is why the FED is doing QE2 and so far it has not had much of an effect.
Congratulation GE/MSNBC/Pravda for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get now even for American companies investing in the USA. The Obama reds are restricting growth and employment. They need more crises to justify more communist inroads.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price inflation to begin this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down slightly last night after the recent plunge. China's market was up 0.8%, Hong Kong down -0.1%, India market down -1.7%, and Japan up 0.1%.
European markets are down this morning in a range of about -0.4% to -1.2% about half way through their day.
US pre-market futures were down about -0.4% at 8:30 AM EST.
Thursday, November 18, 2010
Government Motors cooked the books to make it look like GM recently came to JESUS and got SAVED. Reds join with Obama government as the major stockho
Government Motors cooked the books to make it look like GM recently came to JESUS and got SAVED. Reds join with Obama government as the major stockholders.
I listened to the president of GM and he did not know what he was talking about this morning. He was asked how they would end their losses in Europe. He said GM would reduce capacity and that would create a push demand not the current pull demand. He has push and pull backwards. That just shows that as a financial man, the president of GM knows nothing about running a car company just like the others that came and went. He said they paid off the unions but did not say that the unions were gone. Government Motors now has them on the board of directors.
We would not support the Obama socialization of the car industry by buying socialized GM's products or stocks. Red China will bail them out anyway. Then they can sell cars to red China and help our balance of trade.
Let us hope that only leftist racist corrupt socialists join Communist China and take the bait and bale out US taxpayers. If ever there was a con-job… we just got it with GM and GE/MSNBC/Pravda endorsing it with Jim Cramer last night. Jim Cramer had a vision last week and told listeners to buy gold after it hit $1420 and was saying buy stocks at its recent high point. Now GE/Pravda supports nationalization as a means to bail out the socialist unions that bankrupt American businesses. The original stock and bondholders lost almost everything already and are out. The USA will still be the major stockholder with Red China close behind.
Today a leftist MSNBC Squawk Box white male guest said that only stupid, uneducated, blacks, and tea party supporters criticized the latest spending cut recommendations. Only the guest forgot that the democrat socialist leaders Pelosi and Reed had criticized the cuts first. It was meant to be a GE/Pravda slam on the tea party but it showed that the white leftists are indeed racists for lumping the blacks, and uneducated together with the Tea Party people they hate.
Leftist bankers believe shareholders owe them a living and taking the highest salaries and transferring wealth to their crooked rich George Soros type cronies with special deals that steal from shareholders and Americans. They stack their director boards with cronies who all pillage the companies. Obama has done nothing to claw back their theft. Even the former SEC chairmen were stealing high salaries and golden parachutes from US taxpayers. The Obama administration is the most corrupt in American history.
Capitalists get high salaries only when they grow their companies and employ more people. Leftist Obama socialist executives raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why no socialists have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
The Obama administration is the most leftist, and corrupt administration in the history of America.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals = zero American opportunity, which equals = zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero corruption avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to leftist racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
Today the WSJ said Obama's FED will finally scrutinize the top 19 banks. But they should scrutinize the ones that failed first because that is where the most crooks will be found.
World Markets:
China is making additional attempts to control inflation bubbles. Asian markets stabilized today. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop of wheat and soy but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Producer Price Index Oct at 0.4% same as last month
Core Producer PI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
Yesterday
MBA Mortgage Applications 11/12 dropped -14.4% vs. being up last month by +5.8%-very bad
CPI Oct up 0.2% improved slightly over being up 0.1% last month.
Core CPI Oct up 0% after being up 0% last month. No recovery in progress. The FED wants about *0.2% each month to avoid stagnation.
Housing Starts Oct were 519K down from 610K last month. -not good
Building Permits Oct were 550K up from 539K last month. OK
Crude Inventories 11/13 up 7.3M after being down 3M last month indicating oil prices are too high.
This week:
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 18, 2010
Market has topped.
The government motors GM hoopla is seen to be very positive to socialists around the world. Red China is poised to eventually be the biggest shareholder. Perhaps China will guarantee George Soros and others a great profit in a total buy-out at some later date. Obama socialists are clearly thrilled by how nationalization has worked out so far. The big unions were paid off and now American taxpayers may be soon paid back. It was recently disclosed that China has begun to take over the Italian clothing and fashion industry. They have sweat shops in Italy run and manned by Chinese communists just so they can say the clothes are actually made in Italy not China. They are driving the Italians out of business now. There are a lot of Obama socialists who would love to drive a little GM care with a bright red star on it.
Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. That is why the FED is doing QE2 and so far it has not had much of an effect.
Congratulation GE/MSNBC/Pravda for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get now even for American companies investing in the USA. The Obama reds are restricting growth and employment. They need more crises to justify more communist takeovers like Italy is now seeing.
Stock market cash flow was out sharply last week. Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were up last night after the recent plunge. China's market was up 0.9%, Hong Kong up 1.8%, India market up 0.3%, and Japan up 2%.
European markets are up this morning in a range of about 1.2% to +1.7% about half way through their day.
US pre-market futures were up about 0.9% to 1.2% at 8:00 AM EST.
I listened to the president of GM and he did not know what he was talking about this morning. He was asked how they would end their losses in Europe. He said GM would reduce capacity and that would create a push demand not the current pull demand. He has push and pull backwards. That just shows that as a financial man, the president of GM knows nothing about running a car company just like the others that came and went. He said they paid off the unions but did not say that the unions were gone. Government Motors now has them on the board of directors.
We would not support the Obama socialization of the car industry by buying socialized GM's products or stocks. Red China will bail them out anyway. Then they can sell cars to red China and help our balance of trade.
Let us hope that only leftist racist corrupt socialists join Communist China and take the bait and bale out US taxpayers. If ever there was a con-job… we just got it with GM and GE/MSNBC/Pravda endorsing it with Jim Cramer last night. Jim Cramer had a vision last week and told listeners to buy gold after it hit $1420 and was saying buy stocks at its recent high point. Now GE/Pravda supports nationalization as a means to bail out the socialist unions that bankrupt American businesses. The original stock and bondholders lost almost everything already and are out. The USA will still be the major stockholder with Red China close behind.
Today a leftist MSNBC Squawk Box white male guest said that only stupid, uneducated, blacks, and tea party supporters criticized the latest spending cut recommendations. Only the guest forgot that the democrat socialist leaders Pelosi and Reed had criticized the cuts first. It was meant to be a GE/Pravda slam on the tea party but it showed that the white leftists are indeed racists for lumping the blacks, and uneducated together with the Tea Party people they hate.
Leftist bankers believe shareholders owe them a living and taking the highest salaries and transferring wealth to their crooked rich George Soros type cronies with special deals that steal from shareholders and Americans. They stack their director boards with cronies who all pillage the companies. Obama has done nothing to claw back their theft. Even the former SEC chairmen were stealing high salaries and golden parachutes from US taxpayers. The Obama administration is the most corrupt in American history.
Capitalists get high salaries only when they grow their companies and employ more people. Leftist Obama socialist executives raid the corporate treasury as we have seen them do since 2007 when they endorsed Obama and as their profits went on the skids. Socialists steal from shareholders even when times are tough. Obama protection is why no socialists have gone to jail and they continue to steal even as the economy goes down.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals = racist favoritism = equals corruption.
The Obama administration is the most leftist, and corrupt administration in the history of America.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals = zero American opportunity, which equals = zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero corruption avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to leftist racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
Today the WSJ said Obama's FED will finally scrutinize the top 19 banks. But they should scrutinize the ones that failed first because that is where the most crooks will be found.
World Markets:
China is making additional attempts to control inflation bubbles. Asian markets stabilized today. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop of wheat and soy but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Producer Price Index Oct at 0.4% same as last month
Core Producer PI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
Yesterday
MBA Mortgage Applications 11/12 dropped -14.4% vs. being up last month by +5.8%-very bad
CPI Oct up 0.2% improved slightly over being up 0.1% last month.
Core CPI Oct up 0% after being up 0% last month. No recovery in progress. The FED wants about *0.2% each month to avoid stagnation.
Housing Starts Oct were 519K down from 610K last month. -not good
Building Permits Oct were 550K up from 539K last month. OK
Crude Inventories 11/13 up 7.3M after being down 3M last month indicating oil prices are too high.
This week:
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 18, 2010
Market has topped.
The government motors GM hoopla is seen to be very positive to socialists around the world. Red China is poised to eventually be the biggest shareholder. Perhaps China will guarantee George Soros and others a great profit in a total buy-out at some later date. Obama socialists are clearly thrilled by how nationalization has worked out so far. The big unions were paid off and now American taxpayers may be soon paid back. It was recently disclosed that China has begun to take over the Italian clothing and fashion industry. They have sweat shops in Italy run and manned by Chinese communists just so they can say the clothes are actually made in Italy not China. They are driving the Italians out of business now. There are a lot of Obama socialists who would love to drive a little GM care with a bright red star on it.
Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. That is why the FED is doing QE2 and so far it has not had much of an effect.
Congratulation GE/MSNBC/Pravda for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get now even for American companies investing in the USA. The Obama reds are restricting growth and employment. They need more crises to justify more communist takeovers like Italy is now seeing.
Stock market cash flow was out sharply last week. Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were up last night after the recent plunge. China's market was up 0.9%, Hong Kong up 1.8%, India market up 0.3%, and Japan up 2%.
European markets are up this morning in a range of about 1.2% to +1.7% about half way through their day.
US pre-market futures were up about 0.9% to 1.2% at 8:00 AM EST.
Wednesday, November 17, 2010
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt bankers in jail.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt bankers in jail.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate Banking Commission. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Racist/leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals racist favoritism equals corruption.
The Obama administration is the most leftist, ignorant, and corrupt administration in the history of America.
Obama's Nigerian Aunt is on USA welfare now and told the press she had a right to USA welfare because the USA prosperity was not earned but was a gift from her gods.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals zero American opportunity, which equals zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
World Markets:
Asian markets plunged again. China dropped -1.9% last night. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Yesterday
Producer Price Index Oct at 0.4% same as last month
Core PPI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
This week:
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 17, 2010
Market has topped.
Silver and gold continued to decline, as Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. China plunged -1.9% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year and China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount. GE/MSNBC/Pravda/MadMoney Jim Cramer once again recommended Gold and Asian markets at their market tops Monday!
Congratulation MSNBC for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get even for American companies investing in the USA.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down last night after the recent plunge. China's market was down -1.9%, Hong Kong down -2%, India market closed, and Japan up 0.15%.
European markets are stabilizing this morning in a range of about -0.2% to +0.5% about half way through their day.
US pre-market futures were volatile and falling about -1.6% at 8:00 AM EST.
Presidents Ronald Reagan and Bush Sr. put 1072 corrupt leftist bankers in jail during the last banking crisis. There has been much more bank corruption under corrupt leftist Charlie Rangel's Senate Banking Commission. Rangel himself is a leftist crook and was convicted yesterday on 11 counts of corruption in the US Senate. Racist leftist Rangel required that minorities of his and Obama's race not be asked about their ability to make their mortgage payments but many banks are now being sued for that stupid leftist racist practice. In the mean time leftist racist Obama has taken no criminal actions against leftist Rangel or the corrupt leftist bankers and corrupt racist leftist Freddie Mack administrator who lied and cheated investors in the mortgage derivatives fiasco. Racist/leftist Obama has still not arrested the thousands of corrupt leftist banking and investment managers who created the derivative market meltdown in 2008 by giving mortgages to thousands of people of Obama's race who had no visible means of even supporting themselves. Leftist equals racist favoritism equals corruption.
The Obama administration is the most leftist, ignorant, and corrupt administration in the history of America.
Obama's Nigerian Aunt is on USA welfare now and told the press she had a right to USA welfare because the USA prosperity was not earned but was a gift from her gods.
Obama has done nothing but make more regulations to throw more Americans out of work and make American banking less competitive. Zero Obama risk equals zero American opportunity, which equals zero Obama administration intelligence. Risk brings reward. Obama stupidity brings zero avoidance, zero growth, and lingering unemployment. The banking crisis was not due to risk taking it was due to racist affirmative action favoritism by corrupt Senators like Rangel and Obama, corrupt Freddie Mack, and corrupt leftist bankers.
World Markets:
Asian markets plunged again. China dropped -1.9% last night. China is seeing a bubble in food price inflation now as grain harvests are down and Russia barely has enough to feed their people. The USA will have a bumper crop but China does not consume much wheat yet.
Nine Russian reporters were beaten to death so far this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to nothing less than persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO has come under pressure now and the dollar will rebound while Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. In fact last month the core PPI dropped -0.6% (very deflationary). The main effect of QE2 is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign for Christmas sales.
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
Yesterday
Producer Price Index Oct at 0.4% same as last month
Core PPI Oct -0.6% vs. 0.1% last month. This is quite deflationary and is what the FED wants to raise to +0.2% per month.
Net long-term TIC Flows Sept jumped to $82Billion in Sept vs. $11Billion revised August levels showing increase in foreign investment in the USA. China is buying USA real estate. Not good
Industrial Production Oct at 0% vs. -0.2% last month. Not too good especially with inventories rising.
Capacity Utilization Oct at 74.8% up from 74.7% last month. Anemic Obama recovery
NAHB Market Housing Index Nov at 16. October was also at 16 also but Obama lied and dropped it to 15 to make it look like housing was recovering this past month. Obama has still not arrested the thousands of corrupt banking and investment managers who staged the derivatives meltdown in 2008.
This week:
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 17, 2010
Market has topped.
Silver and gold continued to decline, as Japanese style world deflation remains the primary concern with the USA core Producer Price Index at a deflationary -0.6% last month. China plunged -1.9% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year and China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount. GE/MSNBC/Pravda/MadMoney Jim Cramer once again recommended Gold and Asian markets at their market tops Monday!
Congratulation MSNBC for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get even for American companies investing in the USA.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to naked short commodities even though they just peaked. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down last night after the recent plunge. China's market was down -1.9%, Hong Kong down -2%, India market closed, and Japan up 0.15%.
European markets are stabilizing this morning in a range of about -0.2% to +0.5% about half way through their day.
US pre-market futures were volatile and falling about -1.6% at 8:00 AM EST.
Tuesday, November 16, 2010
FED QE2 plan is raising interest rates not lowering long-term rates as they anticipated.
FED QE2 plan is raising interest rates not lowering long-term rates as they anticipated.
That is causing the implosion of the bond market as we predicted and higher rates. But higher rates will help create greater bank profits if they can borrow lower from the FED and loan at the higher rates. And higher rates are inflationary and 2.5% annual inflation is the FED goal.
The California State bond bubble has begun to burst in advance of gay friendly potted pothead Governor Brown.
http://www.sdgln.com/news/2010/11/03/gay-friendly-results-jerry-brown-elected-governor-part-democratic-wave
Read "The Cliff" by John P. Hussman, Ph.D. It forecasts more depression not inflation but beware of municipal bonds, which are a bubble ready to burst. It appears it has burst already in California the "Pot Head and Pervert" state.
http://www.hussmanfunds.com/
Last week, the return/risk profiles that we estimate for stocks, bonds and even gold declined abruptly, based on the metrics we track. We don't know how long this shift will persist, but at present, investment risk appears to have spiked considerably, and our estimates of prospective market returns have deteriorated. The abruptness of the shift in market conditions is exemplified by the weakness observed in Irish, Greek and Spanish debt, as well as the plunge in municipal bonds (particularly, as Barry Ritholtz observes, in CA issues - see the chart below), which was steep enough to erase nearly a full year of progress in just three days.
See charts at
http://www.hussman.net/wmc/wmc101115.htm
On the NYSE, hundreds of stocks achieved new 52-week highs, but ended down on the week, with technical evidence suggesting a uniform reversal from a "high pole" buying climax. The percentage of bullish investment advisors reached 48.4% - the highest since the April peak, while the AAII sentiment poll shot to 57.6% bulls - the highest since 2007. Our bond market measures shifted to an unfavorable status for yield pressures, putting the stock market in an overvalued, overbought, overbullish, rising-yields conformation despite QE2, which as anticipated, has been met with fairly eager offers from bondholders.
by John P. Hussman, Ph.D.
World Markets:
Asian markets plunged again. China plunged 4% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year because China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount.
Nine Russian reporters were beaten to death this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO will come under pressure now and the dollar will rebound because Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. The main effect is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
This week:
Nov 16 8:30 AM PPI Oct
Nov 16 8:30 AM Core PPI Oct
Nov 16 9:00 AM Net long-term TIC Flows Aug
Nov 16 9:15 AM Industrial Production Oct
Nov 16 9:15 AM Capacity Utilization Oct
Nov 16 10:00 AM NAHB Market Housing Index Nov
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 16, 2010
Market continues showing signs of topping.
Silver and gold continued to decline, as Japanese style world deflation remains the primary concern. China plunged 4% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year because China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount. GE/MSNBC/Pravda/MadMoney once again recommended Gold and Asian markets at their market tops for the year!
Congratulation MSNBC for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get for American companies in the USA.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to short commodities even though we do expect another US stock market decline soon. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down sharply last night after the plunge last week. China's market was down -4%, Hong Kong down -1.4%, India down -2.2%, and Japan down -0.3%.
European markets are falling this morning in a range of about -0.6% to -1.6% about half way through their day.
US pre-market futures were down about -0.4% at 7:30 AM EST.
That is causing the implosion of the bond market as we predicted and higher rates. But higher rates will help create greater bank profits if they can borrow lower from the FED and loan at the higher rates. And higher rates are inflationary and 2.5% annual inflation is the FED goal.
The California State bond bubble has begun to burst in advance of gay friendly potted pothead Governor Brown.
http://www.sdgln.com/news/2010/11/03/gay-friendly-results-jerry-brown-elected-governor-part-democratic-wave
Read "The Cliff" by John P. Hussman, Ph.D. It forecasts more depression not inflation but beware of municipal bonds, which are a bubble ready to burst. It appears it has burst already in California the "Pot Head and Pervert" state.
http://www.hussmanfunds.com/
Last week, the return/risk profiles that we estimate for stocks, bonds and even gold declined abruptly, based on the metrics we track. We don't know how long this shift will persist, but at present, investment risk appears to have spiked considerably, and our estimates of prospective market returns have deteriorated. The abruptness of the shift in market conditions is exemplified by the weakness observed in Irish, Greek and Spanish debt, as well as the plunge in municipal bonds (particularly, as Barry Ritholtz observes, in CA issues - see the chart below), which was steep enough to erase nearly a full year of progress in just three days.
See charts at
http://www.hussman.net/wmc/wmc101115.htm
On the NYSE, hundreds of stocks achieved new 52-week highs, but ended down on the week, with technical evidence suggesting a uniform reversal from a "high pole" buying climax. The percentage of bullish investment advisors reached 48.4% - the highest since the April peak, while the AAII sentiment poll shot to 57.6% bulls - the highest since 2007. Our bond market measures shifted to an unfavorable status for yield pressures, putting the stock market in an overvalued, overbought, overbullish, rising-yields conformation despite QE2, which as anticipated, has been met with fairly eager offers from bondholders.
by John P. Hussman, Ph.D.
World Markets:
Asian markets plunged again. China plunged 4% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year because China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount.
Nine Russian reporters were beaten to death this year. The latest had his head, hands and legs crushed with a baseball bat and has not regained consciousness. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is not even aware of his severe brain damage and the prosecution now amounts to persecution of his entire family. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison for the crime of reporting the problem. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free now because the USA rescued them from Hitler and Communism. The socialists including Obama are now working hard to make America a socialist state too.
The EURO will come under pressure now and the dollar will rebound because Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. The main effect is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Economic Calendar
New York State reported manufacturing plunged as US inventory build-up accelerated to 1.2% this past month.
This week so far:
Retail Sales Oct up 1.2% vs. 0.6% last month. Good sign
Retail Sales ex-auto Oct up 0.4% vs. 0.5% last month. Bad sign
Empire Manufacturing Index Nov down -11.1 vs. up +15.7 last month. terrible, terrible sign
Business Inventories Sep up 0.9% after being up 0.6% last month. Very bad as inventory buildup is acceleration. This is on top of the Obama communists lied again and he shifted 0.3% from this month to last month. Otherwise inventories would have admitted to be up 1.2% this month.
This week:
Nov 16 8:30 AM PPI Oct
Nov 16 8:30 AM Core PPI Oct
Nov 16 9:00 AM Net long-term TIC Flows Aug
Nov 16 9:15 AM Industrial Production Oct
Nov 16 9:15 AM Capacity Utilization Oct
Nov 16 10:00 AM NAHB Market Housing Index Nov
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 16, 2010
Market continues showing signs of topping.
Silver and gold continued to decline, as Japanese style world deflation remains the primary concern. China plunged 4% again last night. The FED policy will devalue the $trillion of American currency that China holds at a rate exceeding 2.5% a year because China will get even less if they try to sell their US treasuries. Then the US can buy them back at a discount. GE/MSNBC/Pravda/MadMoney once again recommended Gold and Asian markets at their market tops for the year!
Congratulation MSNBC for keeping your financial recommendations as consistently moronic as your political views. Obama continues to kill American jobs in the energy (Gas, Oil, and Coal) sector to stifle any possible economic growth before it can get a foothold. Gulf oil, shale fracturing, and mining permits are virtually impossible to get for American companies in the USA.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to short commodities even though we do expect another US stock market decline soon. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were down sharply last night after the plunge last week. China's market was down -4%, Hong Kong down -1.4%, India down -2.2%, and Japan down -0.3%.
European markets are falling this morning in a range of about -0.6% to -1.6% about half way through their day.
US pre-market futures were down about -0.4% at 7:30 AM EST.
Monday, November 15, 2010
30 college deans now are given more than $1 million salaries as tuition increases and scholarships disappear.
30 college deans now are given more than $1 million salaries as tuition increases and scholarships disappear.
International stock markets plunge as Great Depression fear grows. California faces bankruptcy as it spends an additional $6 Billion to create a 25.4Billion deficit this fiscal year. In just six months, instead of cost cutting California deficit spending increased 24%.
International trade wars reminiscent of the Great Depression loom as Obama says USA will continue to take unilateral action to offset China and S. Korean currency manipulation.
California and New York remain the municipal trouble spots of the USA. Fear of another freeze up of municipal bonds loom. Now Bonds are put at risk by the 2.5% FED inflation goal and municipal bond defaults. The first FED purchases will be today!
General Electric/MSNBC/Pravda's Jimmy Cramer panicked Thursday and finally told listeners to buy gold just as his trader buddies at the smart funds have begun unloading their gold investments. Jimmy is the architect of pump and dump for the funds. A soon as his fund buddies had their long term gains and their stocks are at their 52 week highs he told his listeners to accumulate while the funds began selling. Ignorant and outrageous buy recommendations are being made now to offload hedge fund gold/silver investments on ignorant listeners.
Cisco gave a poor prognosis for the future revealing that the corporate spending on productivity has slowed.
Iraqi government gels after a year of squabbling.
World Markets:
Nine Russian reporters were beaten to death this year. The latest had his head, hands and legs crushed with a baseball bat. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is no longer aware of his brain damage and the prosecution amounts to persecution of his entire family now. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free because they are still American allies because the USA rescued them from Hitler and Communism. The socialists including Obama are working hard to make America a socialist state too.
The EURO will come under pressure now and the dollar will rebound because Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. The main effect is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Goldman expects oil price surge in 2012 as world economies all grow in unison. Gas prices rose to over $3 /gal at the pumps again.
Wholesale Inventories Sep rose 1.5% after rising 0.8% last month and then shifting 0.4% from this month back on to last month. In other words they want us to believe that the federal government is so incompetent that their methodology errors are 50% of the thing they are trying to measure. Most competent organizations can keep errors to less than 10% of what they are measuring or else they go out of business. The USA should fire the department that generates the figures and bid the work to private companies.
MBA Mortgage Applications 11/05 +5.8% -5%
Initial Claims 11/06 - 435K declined from 457K, good
Continuing Claims 10/30 - - 4301 declined from 4340, good
Trade Balance Sep -44B Imbalance declined from -46.3B, good
Export Prices ex-ag. Oct 0.7% rose from 0.3%, good
Import Prices ex-oil Oct 0.3% remained same 0.3%, OK
Crude Inventories 11/06 -3.3M declined further -2M, inflation is considered good now
Treasury Budget Oct -140B deficit declined from -176.4B, also good
Disney, Cisco, and others surprise with losses and downbeat forecasts.
Nov 12 9:55 AM Mich Sentiment Nov rose to 69.3 from 67.7 as new tea-party focuses on the principles and freedoms the Founding Fathers advocated.
Economic Calendar
This week:
Nov 15 8:30 AM Retail Sales Oct
Nov 15 8:30 AM Retail Sales ex-auto Oct
Nov 15 8:30 AM Empire Manufacturing Index Nov
Nov 15 10:00 AM Business Inventories Sep
Nov 16 8:30 AM PPI Oct
Nov 16 8:30 AM Core PPI Oct
Nov 16 9:00 AM Net long-term TIC Flows Aug
Nov 16 9:15 AM Industrial Production Oct
Nov 16 9:15 AM Capacity Utilization Oct
Nov 16 10:00 AM NAHB Market Housing Index Nov
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 15, 2010
Market continues showing signs of topping.
Silver and gold plunged from highs the day after GE/MSNBC/Pravda JCarter told listeners to buy, buy, buy gold. Instead it went by, by, by gold.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to short commodities even though we do expect another market decline soon. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were mixed last night after the plunge last week. China's market was up 1%, Hong Kong down -0.8%, India up 0.8%, and Japan up 1%.
European markets are mixed this morning in a range of about +0.2% to -0.7% about half way through their day.
US pre-market futures were up about 0.4% at 7:30 AM EST.
International stock markets plunge as Great Depression fear grows. California faces bankruptcy as it spends an additional $6 Billion to create a 25.4Billion deficit this fiscal year. In just six months, instead of cost cutting California deficit spending increased 24%.
International trade wars reminiscent of the Great Depression loom as Obama says USA will continue to take unilateral action to offset China and S. Korean currency manipulation.
California and New York remain the municipal trouble spots of the USA. Fear of another freeze up of municipal bonds loom. Now Bonds are put at risk by the 2.5% FED inflation goal and municipal bond defaults. The first FED purchases will be today!
General Electric/MSNBC/Pravda's Jimmy Cramer panicked Thursday and finally told listeners to buy gold just as his trader buddies at the smart funds have begun unloading their gold investments. Jimmy is the architect of pump and dump for the funds. A soon as his fund buddies had their long term gains and their stocks are at their 52 week highs he told his listeners to accumulate while the funds began selling. Ignorant and outrageous buy recommendations are being made now to offload hedge fund gold/silver investments on ignorant listeners.
Cisco gave a poor prognosis for the future revealing that the corporate spending on productivity has slowed.
Iraqi government gels after a year of squabbling.
World Markets:
Nine Russian reporters were beaten to death this year. The latest had his head, hands and legs crushed with a baseball bat. The Russian government is also continuing to prosecute another reporter who has had his skull crushed because local politicians accused him of slander. He is no longer aware of his brain damage and the prosecution amounts to persecution of his entire family now. This is where national gangster socialism leads. Hitler and Stalin were Nationalist Socialists too.
The Chinese consumer advocate who complained when his son was poisoned by Chinese milk supplements was sentenced to two years in prison. The sentence amounts to persecution of his entire family now. This is where international socialism leads.
All socialist dictators employ much more genocide than banana republic dictators do. Western socialists are only free because they are still American allies because the USA rescued them from Hitler and Communism. The socialists including Obama are working hard to make America a socialist state too.
The EURO will come under pressure now and the dollar will rebound because Portugal, Spain, Italy, and Ireland have more rioting. QE2 last week seemed to show a stronger dollar and there is little reason to suspect it will have much more than the goal of 2% to 2.5% core US product inflation. The main effect is to raise inflation expectations so that businesses must put their cash back to work. A core product cost inflation of 1% to 2.5% is the goal. The inflation of raw materials prices could be much higher but the efficiencies of production improvements offset raw material price increases.
Last week:
Goldman expects oil price surge in 2012 as world economies all grow in unison. Gas prices rose to over $3 /gal at the pumps again.
Wholesale Inventories Sep rose 1.5% after rising 0.8% last month and then shifting 0.4% from this month back on to last month. In other words they want us to believe that the federal government is so incompetent that their methodology errors are 50% of the thing they are trying to measure. Most competent organizations can keep errors to less than 10% of what they are measuring or else they go out of business. The USA should fire the department that generates the figures and bid the work to private companies.
MBA Mortgage Applications 11/05 +5.8% -5%
Initial Claims 11/06 - 435K declined from 457K, good
Continuing Claims 10/30 - - 4301 declined from 4340, good
Trade Balance Sep -44B Imbalance declined from -46.3B, good
Export Prices ex-ag. Oct 0.7% rose from 0.3%, good
Import Prices ex-oil Oct 0.3% remained same 0.3%, OK
Crude Inventories 11/06 -3.3M declined further -2M, inflation is considered good now
Treasury Budget Oct -140B deficit declined from -176.4B, also good
Disney, Cisco, and others surprise with losses and downbeat forecasts.
Nov 12 9:55 AM Mich Sentiment Nov rose to 69.3 from 67.7 as new tea-party focuses on the principles and freedoms the Founding Fathers advocated.
Economic Calendar
This week:
Nov 15 8:30 AM Retail Sales Oct
Nov 15 8:30 AM Retail Sales ex-auto Oct
Nov 15 8:30 AM Empire Manufacturing Index Nov
Nov 15 10:00 AM Business Inventories Sep
Nov 16 8:30 AM PPI Oct
Nov 16 8:30 AM Core PPI Oct
Nov 16 9:00 AM Net long-term TIC Flows Aug
Nov 16 9:15 AM Industrial Production Oct
Nov 16 9:15 AM Capacity Utilization Oct
Nov 16 10:00 AM NAHB Market Housing Index Nov
Nov 17 7:00 AM MBA Mortgage Applications 11/12
Nov 17 8:30 AM CPI Oct
Nov 17 8:30 AM Core CPI Oct
Nov 17 8:30 AM Housing Starts Oct
Nov 17 8:30 AM Building Permits Oct
Nov 17 10:30 AM Crude Inventories 11/13
Nov 18 8:30 AM Initial Claims 11/13
Nov 18 8:30 AM Continuing Claims 11/06
Nov 18 10:00 AM Leading Indicators Oct
Nov 18 10:00 AM Philadelphia Fed Nov
Market Outlook Nov 15, 2010
Market continues showing signs of topping.
Silver and gold plunged from highs the day after GE/MSNBC/Pravda JCarter told listeners to buy, buy, buy gold. Instead it went by, by, by gold.
Since Oct 28, 2009 our market cash flow index has shown cash flow out of the market and the flow out hit its peak the third week of May. On a cash flow adjusted basis the recent new highs in the market averages did not surpass the previous high and it is still as low as during the free-fall following Lehman's collapse. Therefore it tells us this mini-bear market is still active.
It would be a bad idea to short commodities even though we do expect another market decline soon. We expect the FED to be successful and for core price deflation to end this year. We would buy at cyclic lows and be wary of shorting the market other than to balance out alpha trades where quality is bought and weak companies in the same sector are sold short.
World Markets
Asian markets were mixed last night after the plunge last week. China's market was up 1%, Hong Kong down -0.8%, India up 0.8%, and Japan up 1%.
European markets are mixed this morning in a range of about +0.2% to -0.7% about half way through their day.
US pre-market futures were up about 0.4% at 7:30 AM EST.
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