The people responsible for Wiki-Treason are terrorists and should be put on the terrorist to-kill list.

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.