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.