It is time for Americans to demand the release of Americans imprisoned by corrupt Chinese leaders and a kangaroo Chinese court system or to pull out of China. Refusing to pay communist demands for bribes should not be an offense anywhere in the world. The Chinese communist government officials show they have all the finesse of Somali pirates stealing from foreigners. The Chinese have no rule of law and apparently can no longer afford the cost of all the bullets needed to shoot corrupt Communists
World Markets:
Chinese production decreased last month.
China with 5% of the GNP of the USA now is a bigger world polluter than the USA. China's wasted energy is driving up the prices of raw materials around the world. China needs to begin to start thinking about all the waste and pollution China is creating. China needs rule by clear laws not rule by corrupt politicians and corrupt courts.
The economic policies of Communist China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed for 190 years until the Clinton bubble burst. It would be wise for the USA FED to raise rates to 0.25% just to incentivize banks to start making commercial loans. Americans must stop investing in China until they have rule of law and stop N Korea's plan to threaten neighbors as they beg for food. Communism has failed everywhere in the world because communists enslave their intelligent people and steal from the most productive members of their society to create useless red flag waving guards to harass and humiliate anyone who wants to really help China.
China imprisoned Dr. Xue Feng and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense among corrupt leaders in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
China already holds an American with a 16 year sentence. Jude Shao is a naturalized American citizen who started China Business Ventures (CBV) in 1993. CBV focused on exporting American medical equipment (CAT scans, MRIs, X-rays) to China, and by 1997, had offices in San Francisco and Shanghai with 15 employees. It all started when in July 1997 corrupt local Tax Auditors arrived at CBV's Shanghai office and took CBV's accounting records to conduct a special tax audit to solicit bribes. Jude was twice solicited for bribes to stop the investigation, but he refused since he knew that he had done nothing wrong. In April of 1998, Jude was arrested and told by the police that they were asked to "teach him a lesson." He was held incommunicado for the next 26 months.
In June 1999, a trial was held in Shanghai No. 1 Intermediate Court, but Jude was unable to prepare a defense because he was never able to meet with his attorney, who was only hired 10 days prior to the start of the trial. Neither Jude nor his attorney was able to review the evidence against him. In March 2000, the Court issued a ruling convicting Jude of two tax crimes (obviously refusing to pay two bribes) and sentenced him to 16 years in prison.
If you were an honest businessman would you invest in china? GE/MSNBC/Pravda announced a big consortium deal this week to supply China with all the missing technology they need to put Boeing Aircraft out of business. China already has learned how to produce Neanderthal Russian aircraft.
Economic reports:
Case-Shiller 20-city Index Oct dropped 0.8% after increasing 0.6%last month. It would have been a 1% drop if they did not drop last months number by 0.2% to make this month look less disastrous. Obama and the socialists are destroying the economy by not liquidating the Mortgage crisis.
Consumer Confidence Dec dropped again to 52.5 from 54.3% last month.
Yesterday
MBA Mortgage Applications 12/24 Results for the December 24 week along with the December 31 week will be released together on Wednesday, January 5.
China has ten days worth.
Initial Claims 12/25 dropped to 388K from 420K last week possibly due to seasonal hiring.
Continuing Claims 12/18 increased to 4128K from 4064 last week.
Chicago manufact Index in Dec improved to 68.6 from 62.5 last month
Pending Home Sales Nov rose 3.5% after having increased 10.4% last month.
Market Outlook Dec 31, 2010
It has been a good year for the markets of western democracies and not such a good year for the markets of the corrupt socialist/communists. Idiot Chavez had to devalue his currency twice. The communist Monarchy of Cuba now has Castro's brother as king. The communist Monarchy of N. Korea now has the son of the "high hair" idiot for their new idiot king. The former USSR is still run by former communist criminals and has a pin-up dictator who likes to pose for pictures. The German socialists in Berlin now have chocolate pudding for brains. They have now decided that wisdom is collective knowledge and does not reside in any wise individuals. Anyone can be wise if they mind meld with their alternate wise selves who exist in alternate universes.
If there is a sell off it should come within the first weeks of January. Obama has done nothing for two years to liquidate the crippled mortgage market. This has frozen worker mobility and is destroying credit ratings so that housing will take five years just to recover to where it was before Barack Obama.
By mid year we expect state and federal worker layoffs because the socialists have not put their government houses in order. Many predict a major sell off at mid year when the individual states are in crisis. But typically the stock market is six month ahead of economy. QE2 ends mid year but we expect that to be extended.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
Today is your last chance to reduce your taxes on your investments. For your taxes this year, Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were mixed last night. China's market was up 1.8%, Hong Kong up 0.2%, India up 0.6%, and Japan closed.
European markets are down this morning in a range of about -0.4% to -1.2% half way through their day.
US pre-market futures are down about -0.2 % at 9:00 AM EST.
Friday, December 31, 2010
Thursday, December 30, 2010
China may now be more corrupt than Nigeria. China mistreated an American economic reporter, Dr. Xue Feng
China may now be more corrupt than Nigeria is. China mistreated an American economic reporter, Dr. Xue Feng, because the Chinese government has become corrupted. A Chinese court sentenced a U.S. geologist/reporter to eight years in prison for violating state secrets laws for discovering and reporting China's fraudulent accounting practices. In a written statement, U.S. Ambassador to China Jon Huntsman called for the release of Dr. Xue Feng, a naturalized U.S. citizen, who in addition to the prison sentence was fined about $29,500 for allegedly providing intelligence (truth about China's financial fraud) abroad.
We are early yet in this new millennium. Americans face a historical choice. We have been left alone at the pinnacle of economic and political leadership. We are abandoned there by the world because it is generally assumed we are a falling empire. The United States has never ignored the human needs of its people and those of the rest of the world. But that is exactly what the enemies of freedom imply when they abrade us and say that we cannot continue to ignore the human needs of our people and those of the rest of the world. They attack us in a foreign language, their serpent language, the language of the cruel and viscous who want so much to be released again to ravage the world and exterminate all that is innocent and good. We see the mentally incompetent dynastic family of North Korea propped up by China. They are murdering South Koreans and firing nuclear capable missiles over Japan just for the joy it brings to all the insane, stupid, and evil people of the world. Yes, the insane, stupid, and evil people of the world also danced in the streets when the World Trade Center was destroyed.
We see the terrorist nation of Iran with the goal to kill every Jew who refuses to leave the land that was their father's land for two thousand years. And what is the Moslem claim on the land of Israel? After Mohammed died Barack (Buraq), a giant mythical birdlike animal is said to have flown Mohammed to Jerusalem as a stopover on his flight to heaven. So it is a sacred Moslem site because they say the dead Mohammed was carried there by Buraq (Barack). Yes it is the same big bird that our American president Barack is named after. It is all a Moslem fantasy of course and one that Nazis loved to hear. Will Barack Obama try to deliver Israel to Mohammed this time for real?
America's choice is to either give in to the tyranny of socialist dictatorship ruled currently by executive branch, fiat regulations and presidential orders or be prepared to take back this handcuffed nation in free elections in 2012. The Nazis on the left want to gag Rush Limbaugh and Fox news with another executive order with what they call a new FCC fairness doctrine regulation. They are writing Obamacare regulations right now to compensate doctors for giving approved death panel advice to elderly patients (see today's WSJ). That is how they think they can avoid the American Constitution and a Supreme Court ruling against the leftists buy using dictatorial Obama decrees and regulations.
See the El-Buraq (Barack) Myth at: http://www.eretzyisroel.org/~jkatz/templemount.html
Early Islamic scholars, with no particular political agenda, interpreted Mohammed's dream flight to El-Aksa * (lit. the furthest place) was to a Islamic heavenly place where the purest and most holy mosque which would be in the courtyard of Allah. That, indeed, would be the "furthest place" or "El Aksa".
The revised Nazi promoted myth of today names the earthly Al-Aksa Mosque built by Khaliph El Malik on the site of the Jewish Temple as the basis of the Muslim claim to the Temple Mount. This is substantially different than that of the early non-political scholars of Islam. Serious Islamic scholars viewed the tale as merely a folk story. The mythical story of Mohammed's night flight, which evolved from unidentified sources after Mohammed's death (Note! Keep in mind that there was no El-Aksa Mosque on the Temple Mount until 80 years after Mohammed's death.). See also the winged horse version:
http://www.gamla.org.il/english/article/2001/jan/win2.htm
World Markets:
China is raising its interest rates for the second time in two months, in efforts to slow its economy and ward off inflation. It was another .25% increase, raising the one-year yuan rate to 5.8%.
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst. It would be wise to raise rates to 0.25% just to incentivize banks to start making commercial loans.
There is no way to know truth about China's corporation's anymore. China is about to face scandals that will make Bernie Maddoff and Mikhail Khodorkovsky look like petty criminals due to corrupt Chinese leaders who take bribes and political payoffs. China imprisons Americans who have the audacity to check the corrupt company books. No doubt corrupt Chinese leaders will be executed before they get the message that economic success depends on honest leaders not corrupt leaders that protect corporate and government criminals. Good leaders do not lock up people who check corporate income statements and balance sheets. Only corrupt leaders criminalize and arrest careful investors.
China imprisoned Dr. Xue Feng and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense among corrupt leaders in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
China already holds an American with a 16 year sentence. Jude Shao is a naturalized American citizen who started China Business Ventures (CBV) in 1993. CBV focused on exporting American medical equipment (CAT scans, MRIs, X-rays) to China, and by 1997, had offices in San Francisco and Shanghai with 15 employees. It all started when in July 1997 corrupt local Tax Auditors arrived at CBV's Shanghai office and took CBV's accounting records to conduct a special tax audit to solicit bribes. Jude was twice solicited for bribes to stop the investigation, but he refused since he knew that he had done nothing wrong. In April of 1998, Jude was arrested and told by the police that they were asked to "teach him a lesson." He was held incommunicado for the next 26 months.
In June 1999, a trial was held in Shanghai No. 1 Intermediate Court, but Jude was unable to prepare a defense because he was never able to meet with his attorney, who was only hired 10 days prior to the start of the trial. Neither Jude nor his attorney was able to review the evidence against him. In March 2000, the Court issued a ruling convicting Jude of two tax crimes (obviously refusing to pay two bribes) and sentenced him to 16 years in prison.
If you were an honest businessman would you invest in china? GE/MSNBC/Pravda announced a big consortium deal this week to supply China with all the missing technology they need to put Boeing Aircraft out of business. China already has learned how to produce Neanderthal Russian aircraft.
Economic reports:
Case-Shiller 20-city Index Oct dropped 0.8% after increasing 0.6%last month. It would have been a 1% drop if they did not drop last months number by 0.2% to make this month look less disastrous. Obama and the socialists are destroying the economy by not liquidating the Mortgage crisis.
Consumer Confidence Dec dropped again to 52.5 from 54.3% last month.
Yesterday
MBA Mortgage Applications 12/24 Results for the December 24 week along with the December 31 week will be released together on Wednesday, January 5.
Crude Inventories 12/25 up 5M after being down 5.33M last month. The USA has one month worth of reserves. China has ten days worth.
This Week
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 30, 2010
If there is a sell off it should come within the first weeks of January. Obama has done nothing for two years to liquidate the crippled mortgage market. This has frozen worker mobility and is destroying credit ratings so that housing will take five years just to recover to where it was before Barack Obama.
By mid year we expect state and federal worker layoffs because the socialists have not put their government houses in order. Many predict a major sell off at mid year when the individual states are in crisis. But typically the stock market is six month ahead of economy. QE2 ends mid year but we expect that to be extended.
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
For your taxes this year, Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were mixed last night. China's market was up 0.3%, Hong Kong up 0.1%, India up 0.7%, and Japan down -1.1%.
European markets are down this morning in a range of about -0.2% to -1% half way through their day.
US pre-market futures are down about -0.2 % at 9:00 AM EST.
We are early yet in this new millennium. Americans face a historical choice. We have been left alone at the pinnacle of economic and political leadership. We are abandoned there by the world because it is generally assumed we are a falling empire. The United States has never ignored the human needs of its people and those of the rest of the world. But that is exactly what the enemies of freedom imply when they abrade us and say that we cannot continue to ignore the human needs of our people and those of the rest of the world. They attack us in a foreign language, their serpent language, the language of the cruel and viscous who want so much to be released again to ravage the world and exterminate all that is innocent and good. We see the mentally incompetent dynastic family of North Korea propped up by China. They are murdering South Koreans and firing nuclear capable missiles over Japan just for the joy it brings to all the insane, stupid, and evil people of the world. Yes, the insane, stupid, and evil people of the world also danced in the streets when the World Trade Center was destroyed.
We see the terrorist nation of Iran with the goal to kill every Jew who refuses to leave the land that was their father's land for two thousand years. And what is the Moslem claim on the land of Israel? After Mohammed died Barack (Buraq), a giant mythical birdlike animal is said to have flown Mohammed to Jerusalem as a stopover on his flight to heaven. So it is a sacred Moslem site because they say the dead Mohammed was carried there by Buraq (Barack). Yes it is the same big bird that our American president Barack is named after. It is all a Moslem fantasy of course and one that Nazis loved to hear. Will Barack Obama try to deliver Israel to Mohammed this time for real?
America's choice is to either give in to the tyranny of socialist dictatorship ruled currently by executive branch, fiat regulations and presidential orders or be prepared to take back this handcuffed nation in free elections in 2012. The Nazis on the left want to gag Rush Limbaugh and Fox news with another executive order with what they call a new FCC fairness doctrine regulation. They are writing Obamacare regulations right now to compensate doctors for giving approved death panel advice to elderly patients (see today's WSJ). That is how they think they can avoid the American Constitution and a Supreme Court ruling against the leftists buy using dictatorial Obama decrees and regulations.
See the El-Buraq (Barack) Myth at: http://www.eretzyisroel.org/~jkatz/templemount.html
Early Islamic scholars, with no particular political agenda, interpreted Mohammed's dream flight to El-Aksa * (lit. the furthest place) was to a Islamic heavenly place where the purest and most holy mosque which would be in the courtyard of Allah. That, indeed, would be the "furthest place" or "El Aksa".
The revised Nazi promoted myth of today names the earthly Al-Aksa Mosque built by Khaliph El Malik on the site of the Jewish Temple as the basis of the Muslim claim to the Temple Mount. This is substantially different than that of the early non-political scholars of Islam. Serious Islamic scholars viewed the tale as merely a folk story. The mythical story of Mohammed's night flight, which evolved from unidentified sources after Mohammed's death (Note! Keep in mind that there was no El-Aksa Mosque on the Temple Mount until 80 years after Mohammed's death.). See also the winged horse version:
http://www.gamla.org.il/english/article/2001/jan/win2.htm
World Markets:
China is raising its interest rates for the second time in two months, in efforts to slow its economy and ward off inflation. It was another .25% increase, raising the one-year yuan rate to 5.8%.
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst. It would be wise to raise rates to 0.25% just to incentivize banks to start making commercial loans.
There is no way to know truth about China's corporation's anymore. China is about to face scandals that will make Bernie Maddoff and Mikhail Khodorkovsky look like petty criminals due to corrupt Chinese leaders who take bribes and political payoffs. China imprisons Americans who have the audacity to check the corrupt company books. No doubt corrupt Chinese leaders will be executed before they get the message that economic success depends on honest leaders not corrupt leaders that protect corporate and government criminals. Good leaders do not lock up people who check corporate income statements and balance sheets. Only corrupt leaders criminalize and arrest careful investors.
China imprisoned Dr. Xue Feng and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense among corrupt leaders in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
China already holds an American with a 16 year sentence. Jude Shao is a naturalized American citizen who started China Business Ventures (CBV) in 1993. CBV focused on exporting American medical equipment (CAT scans, MRIs, X-rays) to China, and by 1997, had offices in San Francisco and Shanghai with 15 employees. It all started when in July 1997 corrupt local Tax Auditors arrived at CBV's Shanghai office and took CBV's accounting records to conduct a special tax audit to solicit bribes. Jude was twice solicited for bribes to stop the investigation, but he refused since he knew that he had done nothing wrong. In April of 1998, Jude was arrested and told by the police that they were asked to "teach him a lesson." He was held incommunicado for the next 26 months.
In June 1999, a trial was held in Shanghai No. 1 Intermediate Court, but Jude was unable to prepare a defense because he was never able to meet with his attorney, who was only hired 10 days prior to the start of the trial. Neither Jude nor his attorney was able to review the evidence against him. In March 2000, the Court issued a ruling convicting Jude of two tax crimes (obviously refusing to pay two bribes) and sentenced him to 16 years in prison.
If you were an honest businessman would you invest in china? GE/MSNBC/Pravda announced a big consortium deal this week to supply China with all the missing technology they need to put Boeing Aircraft out of business. China already has learned how to produce Neanderthal Russian aircraft.
Economic reports:
Case-Shiller 20-city Index Oct dropped 0.8% after increasing 0.6%last month. It would have been a 1% drop if they did not drop last months number by 0.2% to make this month look less disastrous. Obama and the socialists are destroying the economy by not liquidating the Mortgage crisis.
Consumer Confidence Dec dropped again to 52.5 from 54.3% last month.
Yesterday
MBA Mortgage Applications 12/24 Results for the December 24 week along with the December 31 week will be released together on Wednesday, January 5.
Crude Inventories 12/25 up 5M after being down 5.33M last month. The USA has one month worth of reserves. China has ten days worth.
This Week
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 30, 2010
If there is a sell off it should come within the first weeks of January. Obama has done nothing for two years to liquidate the crippled mortgage market. This has frozen worker mobility and is destroying credit ratings so that housing will take five years just to recover to where it was before Barack Obama.
By mid year we expect state and federal worker layoffs because the socialists have not put their government houses in order. Many predict a major sell off at mid year when the individual states are in crisis. But typically the stock market is six month ahead of economy. QE2 ends mid year but we expect that to be extended.
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
For your taxes this year, Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were mixed last night. China's market was up 0.3%, Hong Kong up 0.1%, India up 0.7%, and Japan down -1.1%.
European markets are down this morning in a range of about -0.2% to -1% half way through their day.
US pre-market futures are down about -0.2 % at 9:00 AM EST.
Wednesday, December 29, 2010
We can no longer trust Chinese financial information because some corrupt leaders apparently are getting payoffs from criminals.
We can no longer trust Chinese financial information because some corrupt leaders apparently are getting payoffs from criminals like China's "protected" versions of Bernie Maddoff and Mikhail Khodorkovsky.
Fed-Induced Speculative Blowoff
By John P. Hussman, Ph.D.
President, Hussman Investment Trust
Despite my extreme criticism of Fed actions in recent years, I would argue that QE2 has in fact been "successful" over the short-term, but not through any monetary mechanism. Rather, QE2 has been successful a) by creating a burst of enthusiasm that released some pent-up demand in the same way that Cash for Clunkers and the new homebuyer tax credit did, and b) by encouraging investors to believe that the Fed has provided a "backstop" for stocks and other risky assets, creating a speculative blowoff in these securities, to the detriment of what investors perceive as "safe" assets, which ironically includes Treasury securities. In short, the main effect of QE2 has not been monetary but has instead been rhetorical - and that rhetoric may very well be nearly empty.
http://www.hussman.net/weeklyMarketComment.html
Companies aren't hiring in America, they're doing it overseas. American companies are getting back on their feet, but American workers are not. Companies like DuPont, and Caterpillar are increasingly moving jobs to China, India, and Brazil countries with a rising work ethic, skilled workers, and growing consumer demand. Big companies take on fewer American employees and more entrepreneurs are launching businesses with only global hires. Today they are getting top talent in emerging economies. Still, the trends are working out well for U.S. companies with the recent blow-off going on. But how long can that last? Think November 2012 when the Obama socialists and their reparations for the lazy, the corrupt, and the incompetent get swept out of office and the American work ethic comes back.
World Markets:
China is raising its interest rates for the second time in two months, in efforts to slow its economy and ward off inflation. It was another .25% increase, raising the one-year yuan rate to 5.8%.
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst.
There is no way to know truth about China's corporation's anymore. China is about to face scandals that will make Maddoff look like a petty criminal due to corrupt Chinese leaders who imprison Americans who have the audacity to check the corrupt company books. No doubt corrupt Chinese leaders will be executed before they get the message that economic success depends on honest leaders not corrupt leaders that protect corporate criminals. Good leaders do not lock up people who check corporate income statements and balance sheets. Only corrupt leaders criminalize and arrest careful investors.
China imprisoned an American geologist and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense among corrupt leaders in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
Economic reports:
Yesterday
Case-Shiller 20-city Index Oct dropped 0.8% after increasing 0.6%last month. It would have been a 1% drop if they did not drop last months number by 0.2% to make this month look less disastrous. Obama and the socialists are destroying the economy by not liquidating the Mortgage crisis.
Consumer Confidence Dec dropped again to 52.5 from 54.3% last month.
This Week
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 29, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
For your taxes this year, Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were up last night. China's market was up 1.7%, Hong Kong up 0.9%, India up 1.2%, and Japan up 0.5%.
European markets are flat this morning in a range of about -0.2% to 1% half way through their day.
US pre-market futures are up about 0.25 % at 7:00 AM EST.
Fed-Induced Speculative Blowoff
By John P. Hussman, Ph.D.
President, Hussman Investment Trust
Despite my extreme criticism of Fed actions in recent years, I would argue that QE2 has in fact been "successful" over the short-term, but not through any monetary mechanism. Rather, QE2 has been successful a) by creating a burst of enthusiasm that released some pent-up demand in the same way that Cash for Clunkers and the new homebuyer tax credit did, and b) by encouraging investors to believe that the Fed has provided a "backstop" for stocks and other risky assets, creating a speculative blowoff in these securities, to the detriment of what investors perceive as "safe" assets, which ironically includes Treasury securities. In short, the main effect of QE2 has not been monetary but has instead been rhetorical - and that rhetoric may very well be nearly empty.
http://www.hussman.net/weeklyMarketComment.html
Companies aren't hiring in America, they're doing it overseas. American companies are getting back on their feet, but American workers are not. Companies like DuPont, and Caterpillar are increasingly moving jobs to China, India, and Brazil countries with a rising work ethic, skilled workers, and growing consumer demand. Big companies take on fewer American employees and more entrepreneurs are launching businesses with only global hires. Today they are getting top talent in emerging economies. Still, the trends are working out well for U.S. companies with the recent blow-off going on. But how long can that last? Think November 2012 when the Obama socialists and their reparations for the lazy, the corrupt, and the incompetent get swept out of office and the American work ethic comes back.
World Markets:
China is raising its interest rates for the second time in two months, in efforts to slow its economy and ward off inflation. It was another .25% increase, raising the one-year yuan rate to 5.8%.
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst.
There is no way to know truth about China's corporation's anymore. China is about to face scandals that will make Maddoff look like a petty criminal due to corrupt Chinese leaders who imprison Americans who have the audacity to check the corrupt company books. No doubt corrupt Chinese leaders will be executed before they get the message that economic success depends on honest leaders not corrupt leaders that protect corporate criminals. Good leaders do not lock up people who check corporate income statements and balance sheets. Only corrupt leaders criminalize and arrest careful investors.
China imprisoned an American geologist and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense among corrupt leaders in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
Economic reports:
Yesterday
Case-Shiller 20-city Index Oct dropped 0.8% after increasing 0.6%last month. It would have been a 1% drop if they did not drop last months number by 0.2% to make this month look less disastrous. Obama and the socialists are destroying the economy by not liquidating the Mortgage crisis.
Consumer Confidence Dec dropped again to 52.5 from 54.3% last month.
This Week
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 29, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
For your taxes this year, Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were up last night. China's market was up 1.7%, Hong Kong up 0.9%, India up 1.2%, and Japan up 0.5%.
European markets are flat this morning in a range of about -0.2% to 1% half way through their day.
US pre-market futures are up about 0.25 % at 7:00 AM EST.
Tuesday, December 28, 2010
As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans
As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
Things I Believe
John P. Hussman, Ph.D.
All rights reserved and actively enforced.
Reprint Policy
1) Investors dangerously underestimate the risk of an abrupt and possibly severe equity market plunge
http://www.hussman.net/wmc/wmc101220.htm
World Markets:
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst.
There is no way to know truth about China's corporation's anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
Economic reports:
This Week
Dec 28 9:00 AM Case-Shiller 20-city Index Oct
Dec 28 10:00 AM Consumer Confidence Dec
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 28, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were down again last night. China's market was down -1.7%, Hong Kong down -0.9%, India down -0.1%, and Japan down -0.6%.
European markets are flat this morning in a range of about 0.1% to0.4% half way through their day.
US pre-market futures are flat at about 0.2 % at 8:00 AM EST.
Things I Believe
John P. Hussman, Ph.D.
All rights reserved and actively enforced.
Reprint Policy
1) Investors dangerously underestimate the risk of an abrupt and possibly severe equity market plunge
http://www.hussman.net/wmc/wmc101220.htm
World Markets:
The economic policies of China are now ant-inflationary while American policies are anti-deflationary. That will cause investments to continue to move to China the same as the American Economy enjoyed from 1800 until the Clinton bubble burst.
There is no way to know truth about China's corporation's anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investment research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea (a pathological new dynasty) shows no respect for the rights of investors seeking the truth, and arrests Americans seeking the truth, China will become an increasing risk of total economic collapse and anti-western nationalization/confiscation of property.
Economic reports:
This Week
Dec 28 9:00 AM Case-Shiller 20-city Index Oct
Dec 28 10:00 AM Consumer Confidence Dec
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 28, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003. That situation is we believe the closest to what we have today. We expect high volatility in early 2011.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were down again last night. China's market was down -1.7%, Hong Kong down -0.9%, India down -0.1%, and Japan down -0.6%.
European markets are flat this morning in a range of about 0.1% to0.4% half way through their day.
US pre-market futures are flat at about 0.2 % at 8:00 AM EST.
Monday, December 27, 2010
Merry Christmas, Happy Hanukah, have a prosperous New Year, and congratulations you are now the minority, you have a work ethic!!!
Merry Christmas, Happy Hanukah, have a prosperous New Year, and congratulations you are now a protected minority, because you have a work ethic!!!
Wyoming Republican Alan Simpson has a pretty low opinion of the people forced to pay into Social Security all their lives and who now expect something back. The co-chair of President Barack Obama's socialist deficit commission lashed out at seniors Wednesday
"We had the greatest generation," Simpson said. "I think this is the greediest generation."
The draft report released by Simpson along with co-Chair Erskine Bowles proposed reducing the deficit by cutting Social Security retiree benefits and making 90 percent of Social Security income taxable, after 78% already was taken from American workers and given to socialist programs for the lazy who know how to work the system and who vote for Obama "be happy" entitlements. Some mothers go so far as to have their children labeled mentally retarded to collect extra Social Security entitlements.
Critics of the proposal have dubbed Obama’s commission the "catfood commission" because seniors may have to eat cat food again as they did under Jimmy Carter in the 1970s after so much of the money workers put into Social security had been spent on welfare mothers paid about $800/month per child at that time. That contributed to the baby boom of welfare children who are now on welfare and vote to take more from the people who work for a living. And the liberals who say they don't believe in labels have labeled the seniors as greedy and labeled conservatives as "tea baggers" a term which gets a lot of laughs on GE/MSNBC/Pravda news programs.
It's not the first time Simpson's comments about Social Security have been so nasty and hurtful. In an August email, he described the program as a "milk cow with 310 million tits!" about 20million of them retirees and about 290 million milking the benefits seniors are paying for.
After Simpson’s remarks, The New York Times' Paul Krugman called on the president to remove Simpson from the deficit commission. "At this point, though, Obama is on the spot: he has to fire Simpson, or turn the whole thing into a combination of farce and tragedy — the farce being the nature of the co-chair, the tragedy being that Democrats are so retarded." If they want to cut someone then they should cult all social security to those who are not seniors. Instead if a senior dies they give his benefits to his children who are in college. That is how the socialists are destroying Social Security. They do not want a system that Americans believe they saved for. The socialists want a welfare entitlement system where the workers have no rights at all, only entitlements for welfare. It is all money from the benevolent dictatorship in return for the surrender of our freedoms.
White House press secretary Robert Gibbs said, “Senator Simpson has and will continue to serve on the commission."
Below is a response from a man in Montana ... Who like most Americans have had just about enough of the socialists who want to replace hard work and savings with more entitlements.
1. As a career politician, you have been on the public dole for FIFTY YEARS…
2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old and I am now 63.)
3. My Social Security payments and those of millions of other Americans were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud…
4. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN…
5. I, and millions of other Americans, have been paying into Medicare from Day One and now you morons propose to change the rules of the game. Why? Because you idiots mismanaged other parts of the economy to such an extent that you need to steal money from Medicare to pay the bills…
6. I, and millions of other Americans, have been paying income taxes our entire lives and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money.
Now you come to the American taxpayers and say you need more to pay of YOUR debt… To add insult to injury, you label us “greedy” for calling “bullshit” on your incompetence. Well, Captain Bullshit, I have a few questions for YOU…
1. How much money have you earned from the American taxpayers during your pathetic 50-year political career?
2. At what age did you retire from your pathetic political career and how much are you receiving in annual retirement benefits from the American taxpayers?
3. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or, as usual, have you exempted yourself and your political cronies? It is you, Captain Bullshit and your political co-conspirators who are “greedy”. It is you and they who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers.
You know it, we know it and you know that we know it. And you can take that to the bank, you miserable son of a bitch.
The web is flooded with comments of people disgusted with the socialists who use every crisis they make to take from the working people to give to entitlements. They should only cut the welfare entitlements that are bankrupting America and making America so attractive to "be happy" illegal immigrants.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse.
Economic reports:
Last Friday
Initial Claims 12/18 manipulated to be the same as last month 420K by taking 3K from this month and correcting last month up 3K so nobody knows it really got worse again.
Continuing Claims 12/11 manipulated down to 4064K from 4135K by moving 32K around. Still improving as people run out of unemployment insurance.
University of Michigan Sentiment - Final Dec flat at 74.5 vs. 74.8 last month. May be starting down again.
New Home Sales manipulated up to 290K from 283Kby taking 8K from last month. Otherwise flat.
This Week
Dec 28 9:00 AM Case-Shiller 20-city Index Oct
Dec 28 10:00 AM Consumer Confidence Dec
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 27, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were down again last night. China's market was down -1.9%, Hong Kong closed, India down -0.2%, and Japan up 0.7%.
European markets are down this morning in a range of about 0.1% to- 1.3% half way through their day.
US pre-market futures are down at about -0.4 % at 8:00 AM EST.
Wyoming Republican Alan Simpson has a pretty low opinion of the people forced to pay into Social Security all their lives and who now expect something back. The co-chair of President Barack Obama's socialist deficit commission lashed out at seniors Wednesday
"We had the greatest generation," Simpson said. "I think this is the greediest generation."
The draft report released by Simpson along with co-Chair Erskine Bowles proposed reducing the deficit by cutting Social Security retiree benefits and making 90 percent of Social Security income taxable, after 78% already was taken from American workers and given to socialist programs for the lazy who know how to work the system and who vote for Obama "be happy" entitlements. Some mothers go so far as to have their children labeled mentally retarded to collect extra Social Security entitlements.
Critics of the proposal have dubbed Obama’s commission the "catfood commission" because seniors may have to eat cat food again as they did under Jimmy Carter in the 1970s after so much of the money workers put into Social security had been spent on welfare mothers paid about $800/month per child at that time. That contributed to the baby boom of welfare children who are now on welfare and vote to take more from the people who work for a living. And the liberals who say they don't believe in labels have labeled the seniors as greedy and labeled conservatives as "tea baggers" a term which gets a lot of laughs on GE/MSNBC/Pravda news programs.
It's not the first time Simpson's comments about Social Security have been so nasty and hurtful. In an August email, he described the program as a "milk cow with 310 million tits!" about 20million of them retirees and about 290 million milking the benefits seniors are paying for.
After Simpson’s remarks, The New York Times' Paul Krugman called on the president to remove Simpson from the deficit commission. "At this point, though, Obama is on the spot: he has to fire Simpson, or turn the whole thing into a combination of farce and tragedy — the farce being the nature of the co-chair, the tragedy being that Democrats are so retarded." If they want to cut someone then they should cult all social security to those who are not seniors. Instead if a senior dies they give his benefits to his children who are in college. That is how the socialists are destroying Social Security. They do not want a system that Americans believe they saved for. The socialists want a welfare entitlement system where the workers have no rights at all, only entitlements for welfare. It is all money from the benevolent dictatorship in return for the surrender of our freedoms.
White House press secretary Robert Gibbs said, “Senator Simpson has and will continue to serve on the commission."
Below is a response from a man in Montana ... Who like most Americans have had just about enough of the socialists who want to replace hard work and savings with more entitlements.
1. As a career politician, you have been on the public dole for FIFTY YEARS…
2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old and I am now 63.)
3. My Social Security payments and those of millions of other Americans were safely tucked away in an interest bearing account for decades until you political pukes decided to raid the account and give OUR money to a bunch of zero ambition losers in return for votes, thus bankrupting the system and turning Social Security into a Ponzi scheme that would have made Bernie Madoff proud…
4. Recently, just like Lucy & Charlie Brown, you and your ilk pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age 67. NOW, you and your shill commission is proposing to move the goalposts YET AGAIN…
5. I, and millions of other Americans, have been paying into Medicare from Day One and now you morons propose to change the rules of the game. Why? Because you idiots mismanaged other parts of the economy to such an extent that you need to steal money from Medicare to pay the bills…
6. I, and millions of other Americans, have been paying income taxes our entire lives and now you propose to increase our taxes yet again. Why? Because you incompetent bastards spent our money so profligately that you just kept on spending even after you ran out of money.
Now you come to the American taxpayers and say you need more to pay of YOUR debt… To add insult to injury, you label us “greedy” for calling “bullshit” on your incompetence. Well, Captain Bullshit, I have a few questions for YOU…
1. How much money have you earned from the American taxpayers during your pathetic 50-year political career?
2. At what age did you retire from your pathetic political career and how much are you receiving in annual retirement benefits from the American taxpayers?
3. How much do you pay for YOUR government provided health insurance?
4. What cuts in YOUR retirement and healthcare benefits are you proposing in your disgusting deficit reduction proposal, or, as usual, have you exempted yourself and your political cronies? It is you, Captain Bullshit and your political co-conspirators who are “greedy”. It is you and they who have bankrupted America and stolen the American dream from millions of loyal, patriotic taxpayers. And for what? Votes. That’s right, sir. You and yours have bankrupted America for the sole purpose of advancing your pathetic political careers.
You know it, we know it and you know that we know it. And you can take that to the bank, you miserable son of a bitch.
The web is flooded with comments of people disgusted with the socialists who use every crisis they make to take from the working people to give to entitlements. They should only cut the welfare entitlements that are bankrupting America and making America so attractive to "be happy" illegal immigrants.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse.
Economic reports:
Last Friday
Initial Claims 12/18 manipulated to be the same as last month 420K by taking 3K from this month and correcting last month up 3K so nobody knows it really got worse again.
Continuing Claims 12/11 manipulated down to 4064K from 4135K by moving 32K around. Still improving as people run out of unemployment insurance.
University of Michigan Sentiment - Final Dec flat at 74.5 vs. 74.8 last month. May be starting down again.
New Home Sales manipulated up to 290K from 283Kby taking 8K from last month. Otherwise flat.
This Week
Dec 28 9:00 AM Case-Shiller 20-city Index Oct
Dec 28 10:00 AM Consumer Confidence Dec
Dec 29 7:00 AM MBA Mortgage Applications 12/24
Dec 29 10:30 AM Crude Inventories 12/25
Dec 30 8:30 AM Initial Claims 12/25
Dec 30 8:30 AM Continuing Claims 12/18
Dec 30 9:45 AM Chicago PMI Dec
Dec 30 10:00 AM Pending Home Sales Nov
Market Outlook Dec 27, 2010
In 2004 the market sunk the first week and then began to recover at mid year. That was after the 2003 rally that the hedge funds held high to the end of 2003.
The market is still near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point volume is down 50% since last May. Volume of late is the lowest we have seen since the Obama recession.
Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not often sell fractions of their under performing investments as much as they will going forward under socialism.
World Markets
Asian markets were down again last night. China's market was down -1.9%, Hong Kong closed, India down -0.2%, and Japan up 0.7%.
European markets are down this morning in a range of about 0.1% to- 1.3% half way through their day.
US pre-market futures are down at about -0.4 % at 8:00 AM EST.
Friday, December 24, 2010
Merry Christmas, Happy Hanukah, have a prosperous New Year, and congratulations!!!
Merry Christmas, Happy Hanukah, have a prosperous New Year, and congratulations!!!
If you pay taxes and have a work ethic then congratulations, you are now a new minority in America. In a few years you should be eligible for reparations because throughout American history it was never the lazy and the stupid community activists who built America, it was people like you. As a minority you are entitled to lie cheat and steal and offend anyone you want by saying politically incorrect insensitive things like Merry Christmas and Happy Hanukah!
If you have a work ethic, are from Europe, and are a protestant you are now a protected endangered species and cannot be lawfully plucked or skinned alive any more! Go tell that to Obama's IRS this April. There was a time that this nation had flocks of you old birds and almost 100% of the best-known American Patriots who gave their all to this country and proudly never took a government handout… were from your endangered flock.
In the mean time Obama has made millionaires of the children of all American farmers of his race because he says they are the people who built America. So he gave them $billions in reparations because Obama claimed his flock did not get every government farm handout that was possible.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think that their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. Lazy socialists work the system, and work stupid to make their jobs last longer. The American way before Obama was to work smart and create new products and industries to create new better jobs.
Unless we stop the socialists cold and stop Obamacare, nepotism, corruption, and the illegal favoritism of reparations for people of Obama's race who claim they did not have every legal opportunity to fleece the USA, America will have African stile justice. When the last African elephant is slaughtered the socialists invite every lazy person from distant villages to the feast. And when the last elephant is devoured the lazy go away and the ones that lived and hunted there starve to death.
Since when is fleecing the USA an entitlement to people of just Obama's race? Why do some of us have to work so that others can be entitled to corruptly work the system? Where is the proof that the people who got Obama's reparations had farm entitlements that were denied them? There is none! Proof of that is harder to find than Obama's original birth certificate. Is it not possible that some of the people of Obama's race were actually proud Americans like the rest of our ancestors and therefore refused government handouts? Why does Obama's administration just assume that Obama' people were always lazy and therefore worked the system for every handout? Couldn't many of them have been hard working tax-paying Americans who like us are too proud to work the system? If Obama assumes the descendents of farmers of his race are entitled to reparations then are not all the white and yellow descendents of early farmers more entitled to reparations since white and yellow farmers did not to get many handouts? If Obama is right in his assumption that his folk were lazy and would have sought every handout possible, then is it not more probable that they got much more in handouts than industrious hard working farmers who were too proud to accept charity. In reality it seems that to be fair, Obama's folk ought to be reimbursing the Agriculture Department, not getting reparations. We taxpayers are being fleeced by Obama and his socialists who are fleecing us now to pay reparations to descendents of Obama's folk who fleeced us in the past. That is the justice of socialist redistribution of wealth. What is worse, 90% of early Americans were farmers so about 90% of Americans should be entitled to Obama's illegal corrupt reparation's scheme.
This Obama racist corruption should go on the front burner of Congress in January along with investigations of the GE/MSNBC/Pravda propaganda machine and the award of government contracts to them.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners, China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly.
Economic reports:
MBA Mortgage Applications12/17 Conflicting reports have been published.
GDP - Third Estimate Q3 at 2.6% vs last report of 2.5%.
GDP Deflator - Third Estimate Q3 at 2.1$ vs report of 2.3% last time. About at the FED target
Existing Home Sales Nov 4.68M vs 4.43M last month. Slight improvement
FHFA Home Price Index Oct up 0.7% vs -0.7% last month. Finally a bottom?
Crude Inventories 12/18 5.3M vs 9.85M last month. A cold winter thus far.
Yesterday
Personal Income Nov up 0.3% after increasing 0.5% last month.
Personal Spending Nov up 0.4% the same as last month
PCE Prices - Core Nov up 0.1% after being flat last month.
Durable Orders Nov down -1.3% after being down already -3.4% last month
Durable Goods Orders - ex Transportation Nov Up 2.4% after being incorrectly reported last month.
Initial Claims 12/18 manipulated to be the same as last month 420K by taking 3K from this month and correcting last month up 3K so nobody knows it really got worse again.
Continuing Claims 12/11 manipulated down to 4064K from 4135K by moving 32K around. Still improving as people run out of unemployment insurance.
University of Michigan Sentiment - Final Dec flat at 74.5 vs. 74.8 last month. May be starting down again.
New Home Sales manipulated up to 290K from 283Kby taking 8K from last month. Otherwise flat
Market Outlook Dec 24, 2010
The market is near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point cash flow is down 50% from last May. Declines recently have been on higher volumes as trading volume over all has declined this year. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The socialist courts will allow a DC socialist to run for Mayor of Chicago because he once lived there and owns property there. The longer the socialists are in power the more ridiculous they make American policies.
Make sure you take all possible losses this year to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short. That is the socialist way, the stupid way. It is the sure way to make everyone equal, equally destitute.
World Markets
Asian markets were down again last night. China's market was down -0.7%, Hong Kong down -0.3%, India up 0.5%, and Japan down -0.7%.
European markets are down this morning in a range of about -0.4% to- 0.1% half way through their day.
US pre-market futures are flat at about 0.1 % at 8:00 AM EST.
If you pay taxes and have a work ethic then congratulations, you are now a new minority in America. In a few years you should be eligible for reparations because throughout American history it was never the lazy and the stupid community activists who built America, it was people like you. As a minority you are entitled to lie cheat and steal and offend anyone you want by saying politically incorrect insensitive things like Merry Christmas and Happy Hanukah!
If you have a work ethic, are from Europe, and are a protestant you are now a protected endangered species and cannot be lawfully plucked or skinned alive any more! Go tell that to Obama's IRS this April. There was a time that this nation had flocks of you old birds and almost 100% of the best-known American Patriots who gave their all to this country and proudly never took a government handout… were from your endangered flock.
In the mean time Obama has made millionaires of the children of all American farmers of his race because he says they are the people who built America. So he gave them $billions in reparations because Obama claimed his flock did not get every government farm handout that was possible.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think that their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. Lazy socialists work the system, and work stupid to make their jobs last longer. The American way before Obama was to work smart and create new products and industries to create new better jobs.
Unless we stop the socialists cold and stop Obamacare, nepotism, corruption, and the illegal favoritism of reparations for people of Obama's race who claim they did not have every legal opportunity to fleece the USA, America will have African stile justice. When the last African elephant is slaughtered the socialists invite every lazy person from distant villages to the feast. And when the last elephant is devoured the lazy go away and the ones that lived and hunted there starve to death.
Since when is fleecing the USA an entitlement to people of just Obama's race? Why do some of us have to work so that others can be entitled to corruptly work the system? Where is the proof that the people who got Obama's reparations had farm entitlements that were denied them? There is none! Proof of that is harder to find than Obama's original birth certificate. Is it not possible that some of the people of Obama's race were actually proud Americans like the rest of our ancestors and therefore refused government handouts? Why does Obama's administration just assume that Obama' people were always lazy and therefore worked the system for every handout? Couldn't many of them have been hard working tax-paying Americans who like us are too proud to work the system? If Obama assumes the descendents of farmers of his race are entitled to reparations then are not all the white and yellow descendents of early farmers more entitled to reparations since white and yellow farmers did not to get many handouts? If Obama is right in his assumption that his folk were lazy and would have sought every handout possible, then is it not more probable that they got much more in handouts than industrious hard working farmers who were too proud to accept charity. In reality it seems that to be fair, Obama's folk ought to be reimbursing the Agriculture Department, not getting reparations. We taxpayers are being fleeced by Obama and his socialists who are fleecing us now to pay reparations to descendents of Obama's folk who fleeced us in the past. That is the justice of socialist redistribution of wealth. What is worse, 90% of early Americans were farmers so about 90% of Americans should be entitled to Obama's illegal corrupt reparation's scheme.
This Obama racist corruption should go on the front burner of Congress in January along with investigations of the GE/MSNBC/Pravda propaganda machine and the award of government contracts to them.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners, China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly.
Economic reports:
MBA Mortgage Applications12/17 Conflicting reports have been published.
GDP - Third Estimate Q3 at 2.6% vs last report of 2.5%.
GDP Deflator - Third Estimate Q3 at 2.1$ vs report of 2.3% last time. About at the FED target
Existing Home Sales Nov 4.68M vs 4.43M last month. Slight improvement
FHFA Home Price Index Oct up 0.7% vs -0.7% last month. Finally a bottom?
Crude Inventories 12/18 5.3M vs 9.85M last month. A cold winter thus far.
Yesterday
Personal Income Nov up 0.3% after increasing 0.5% last month.
Personal Spending Nov up 0.4% the same as last month
PCE Prices - Core Nov up 0.1% after being flat last month.
Durable Orders Nov down -1.3% after being down already -3.4% last month
Durable Goods Orders - ex Transportation Nov Up 2.4% after being incorrectly reported last month.
Initial Claims 12/18 manipulated to be the same as last month 420K by taking 3K from this month and correcting last month up 3K so nobody knows it really got worse again.
Continuing Claims 12/11 manipulated down to 4064K from 4135K by moving 32K around. Still improving as people run out of unemployment insurance.
University of Michigan Sentiment - Final Dec flat at 74.5 vs. 74.8 last month. May be starting down again.
New Home Sales manipulated up to 290K from 283Kby taking 8K from last month. Otherwise flat
Market Outlook Dec 24, 2010
The market is near its high for the year just where the funds want it to be. However on a cash flow basis it is not. At this point cash flow is down 50% from last May. Declines recently have been on higher volumes as trading volume over all has declined this year. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The socialist courts will allow a DC socialist to run for Mayor of Chicago because he once lived there and owns property there. The longer the socialists are in power the more ridiculous they make American policies.
Make sure you take all possible losses this year to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The securities firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. Obama will take it otherwise. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short. That is the socialist way, the stupid way. It is the sure way to make everyone equal, equally destitute.
World Markets
Asian markets were down again last night. China's market was down -0.7%, Hong Kong down -0.3%, India up 0.5%, and Japan down -0.7%.
European markets are down this morning in a range of about -0.4% to- 0.1% half way through their day.
US pre-market futures are flat at about 0.1 % at 8:00 AM EST.
Thursday, December 23, 2010
Trust is the most valuable commodity in the world.
Trust is the most valuable commodity in the world. It was reported that China might have asked N. Korea to stop their insane killing spree. But China cannot be a trusted partner if they arrest stock market analysts and other Americans and put them in prison just for asking probing questions about balance sheets and P&L reports. There must be as much transparency as possible to avoid crooks like Wing Ling Madoff from destroying confidence in China's economy.
But in any event Americans who have dealt with Chinese citizens admire them for their hard work and inquisitiveness. Americans do not throw anyone in prison for asking business financial and education related questions. The entire world benefits whenever people apply their minds and deal intelligently with one another. If all intelligent peace-loving people worked together, then the insane mullahs and idiot offspring of N. Korean dictators would not be able to terrorize smaller nations.
The N. Koreans have essentially formed a communist country with an imperial ruling family. That is amazingly insane! How can a communist country have a king as a ruler? And China goes along with it for fear of the refugees. West Germany had the problem of East German refugees. N. Korean refugees are a problem for S. Korea not China. China has to decide if perhaps they would be better off accepting some N. Koreans to integrate into their nation. But it would be unwise to have refugees near the border because they might later want re-unification too.
In America students are encouraged to work hard on their own and sharing answers on exams is considered cheating in America. In the USA many American students have reported that Koreans tend to form groups who cheat collectively because they are under such pressure to have good grades. That may explain why so many countries claim they are better educated than Americans but would have nothing if America were not always helping them economically and defending them from maniacal governments.
Chinese-Americans have always been known for hard work, honesty and trustworthiness. Trust is the most valuable commodity in the world.
WSJ said this week that one person owns more than 80% of the warehouses of copper driving up prices just like in the 1970's. These shortages are staged by market manipulators who are trying to panic poorly informed investors who like GE/MSNBC/Pravda's Jim Cramer always get sucked into buying high and selling low. Right now the manipulators are creating a fear of inflation when the current international problem is stagnation and recession. GE/MSNBC/Pravda point to the run-up in gold and silver just as Reagan came onto the scene but they fail to inform investors that the people who then bet on inflation lost 80% when the run-up collapsed. People buying commodities now are buying at a relative high. This is not a demand driven run-up it is a temporary hoarding run-up and that will collapse. In the 1970's even toilet paper had a run-up and a price collapse.
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year but Congress thwarted their attempt to put their inferior engines on that airplane. GE makes American weapon systems twice as expensive whenever they lose a contract by getting socialists in congress to have expensive studies approved so GE can spend another fortune of taxpayer money and coincidentally GE always concludes their inferior products are better. They try to use Congress to drive GE competitors out of business at the expense of weakening American security.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best American product, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think that their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist copy-cat/piracy/cheating mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that backfires and precedes the overthrow of most tyrannies. China has many leaders ready now to bring a real democracy to China. But if China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly.
Economic reports:
MBA Mortgage Applications12/17 Conflicting reports have been published.
GDP - Third Estimate Q3 at 2.6% vs last report of 2.5%.
GDP Deflator - Third Estimate Q3 at 2.1$ vs report of 2.3% last time. About at the FED target
Existing Home Sales Nov 4.68M vs 4.43M last month. Slight improvement
FHFA Home Price Index Oct up 0.7% vs -0.7% last month. Finally a bottom?
Crude Inventories 12/18 5.3M vs 9.85M last month. A cold winter thus far.
Today
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 23, 2010
The market is at its high for the year just where the funds want it to be. However on a cash flow basis it is not. Declines recently have been on higher than rally volumes and trading volume over all has declined this year. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies.
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were down again last night. China's market was down -0.8%, Hong Kong down -0.6%, India down -0.2%, and Japan not reporting.
European markets are down this morning in a range of about -0.4% to 0.2% half way through their day.
US pre-market futures are flat at about -0.2 % at 8:00 AM EST.
But in any event Americans who have dealt with Chinese citizens admire them for their hard work and inquisitiveness. Americans do not throw anyone in prison for asking business financial and education related questions. The entire world benefits whenever people apply their minds and deal intelligently with one another. If all intelligent peace-loving people worked together, then the insane mullahs and idiot offspring of N. Korean dictators would not be able to terrorize smaller nations.
The N. Koreans have essentially formed a communist country with an imperial ruling family. That is amazingly insane! How can a communist country have a king as a ruler? And China goes along with it for fear of the refugees. West Germany had the problem of East German refugees. N. Korean refugees are a problem for S. Korea not China. China has to decide if perhaps they would be better off accepting some N. Koreans to integrate into their nation. But it would be unwise to have refugees near the border because they might later want re-unification too.
In America students are encouraged to work hard on their own and sharing answers on exams is considered cheating in America. In the USA many American students have reported that Koreans tend to form groups who cheat collectively because they are under such pressure to have good grades. That may explain why so many countries claim they are better educated than Americans but would have nothing if America were not always helping them economically and defending them from maniacal governments.
Chinese-Americans have always been known for hard work, honesty and trustworthiness. Trust is the most valuable commodity in the world.
WSJ said this week that one person owns more than 80% of the warehouses of copper driving up prices just like in the 1970's. These shortages are staged by market manipulators who are trying to panic poorly informed investors who like GE/MSNBC/Pravda's Jim Cramer always get sucked into buying high and selling low. Right now the manipulators are creating a fear of inflation when the current international problem is stagnation and recession. GE/MSNBC/Pravda point to the run-up in gold and silver just as Reagan came onto the scene but they fail to inform investors that the people who then bet on inflation lost 80% when the run-up collapsed. People buying commodities now are buying at a relative high. This is not a demand driven run-up it is a temporary hoarding run-up and that will collapse. In the 1970's even toilet paper had a run-up and a price collapse.
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year but Congress thwarted their attempt to put their inferior engines on that airplane. GE makes American weapon systems twice as expensive whenever they lose a contract by getting socialists in congress to have expensive studies approved so GE can spend another fortune of taxpayer money and coincidentally GE always concludes their inferior products are better. They try to use Congress to drive GE competitors out of business at the expense of weakening American security.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best American product, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think that their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist copy-cat/piracy/cheating mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that backfires and precedes the overthrow of most tyrannies. China has many leaders ready now to bring a real democracy to China. But if China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
World Markets:
There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly.
Economic reports:
MBA Mortgage Applications12/17 Conflicting reports have been published.
GDP - Third Estimate Q3 at 2.6% vs last report of 2.5%.
GDP Deflator - Third Estimate Q3 at 2.1$ vs report of 2.3% last time. About at the FED target
Existing Home Sales Nov 4.68M vs 4.43M last month. Slight improvement
FHFA Home Price Index Oct up 0.7% vs -0.7% last month. Finally a bottom?
Crude Inventories 12/18 5.3M vs 9.85M last month. A cold winter thus far.
Today
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 23, 2010
The market is at its high for the year just where the funds want it to be. However on a cash flow basis it is not. Declines recently have been on higher than rally volumes and trading volume over all has declined this year. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies.
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were down again last night. China's market was down -0.8%, Hong Kong down -0.6%, India down -0.2%, and Japan not reporting.
European markets are down this morning in a range of about -0.4% to 0.2% half way through their day.
US pre-market futures are flat at about -0.2 % at 8:00 AM EST.
Wednesday, December 22, 2010
WSJ today says one person owns more than 80% of the warehouses of copper driving up prices just like in the 1970's.
WSJ today says one person owns more than 80% of the warehouses of copper driving up prices just like in the 1970's. These shortages are staged by market manipulators who are trying to panic poorly informed investors who like GE/MSNBC/Pravda's Jim Cramer always get sucked into buying high and selling low. Right now the manipulators are creating a fear of inflation when the current international problem is stagnation and recession. They point to the run-up in gold and silver just when Reagan came onto the scene but they fail to inform investors that the people who bet on inflation lost 80% when the run-up collapsed. People buying commodities now are buying at a relative high. This is not a demand driven run-up it is a temporary hoarding run-up and collapse. In the 1970's even toilet paper had a run-up and collapse.
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year but Congress thwarted their attempt to put their inferior engines on that airplane. GE makes American weapon systems twice as expensive whenever they lose a contract by getting socialists in congress to have expensive studies approved so GE can spend another fortune of taxpayer money and coincidentally GE always concludes their inferior products are better. They try to use Congress to drive GE competitors out of business at the expense of weakening American security.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think the their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law and are encouraging N. Korea to bomb and murder S. Koreans indiscriminately. China is making the world a dangerous place. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that preceded the overthrow of most tyrannies in the past. China has many leaders ready now to bring a real democracy to China. If China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
World Markets:
Chinese economic data is likely entirely fraudulent now and is beginning to become belligerent via N. Korea their junkyard dog of communism. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Today
MBA Mortgage Applications12/17 dropped 14.4% on higher rates. As expected but not good.
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
This Week
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 22, 2010
Market volume weakened again allowing the market to creep up. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies. They say the Armed Services will have a code of conduct such that gays will not discuss their "superior" life stiles on duty nor subtly proposition others nor walk around naked and suggestively nor participate in San Francisco's annual Free Gay Sex on the Street Day. But isn't that going to be all decreed a violation of free speech by GE/MSNBC/Pravda and their leftist appointed judges? You, bet!
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were down last night. China's market was down -0.9%, Hong Kong up 0.2%, India down -0.2%, and Japan down -0.2%.
European markets are flat this morning in a range of about -0.3% to 0.3% half way through their day.
US pre-market futures are flat at about 0.1% at 8:00 AM EST.
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year but Congress thwarted their attempt to put their inferior engines on that airplane. GE makes American weapon systems twice as expensive whenever they lose a contract by getting socialists in congress to have expensive studies approved so GE can spend another fortune of taxpayer money and coincidentally GE always concludes their inferior products are better. They try to use Congress to drive GE competitors out of business at the expense of weakening American security.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think the their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law and are encouraging N. Korea to bomb and murder S. Koreans indiscriminately. China is making the world a dangerous place. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that preceded the overthrow of most tyrannies in the past. China has many leaders ready now to bring a real democracy to China. If China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
World Markets:
Chinese economic data is likely entirely fraudulent now and is beginning to become belligerent via N. Korea their junkyard dog of communism. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Today
MBA Mortgage Applications12/17 dropped 14.4% on higher rates. As expected but not good.
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
This Week
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 22, 2010
Market volume weakened again allowing the market to creep up. That is another negative indication that the market will drop sharply similar to 2004 after the run-up following the dot-com bubble. There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies. They say the Armed Services will have a code of conduct such that gays will not discuss their "superior" life stiles on duty nor subtly proposition others nor walk around naked and suggestively nor participate in San Francisco's annual Free Gay Sex on the Street Day. But isn't that going to be all decreed a violation of free speech by GE/MSNBC/Pravda and their leftist appointed judges? You, bet!
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were down last night. China's market was down -0.9%, Hong Kong up 0.2%, India down -0.2%, and Japan down -0.2%.
European markets are flat this morning in a range of about -0.3% to 0.3% half way through their day.
US pre-market futures are flat at about 0.1% at 8:00 AM EST.
Tuesday, December 21, 2010
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year
General Electric/MSNBC/Pravda tried to double the cost of the Joint Strike Fighter again this year but Congress thwarted their attempt to put their inferior engines on that airplane. GE makes American weapon systems twice as expensive whenever they lose a contract by getting socialists in congress to have expensive studies approved so GE can spend another fortune of taxpayer money and coincidentally GE always concludes their inferior products are better. They try to use Congress to drive GE competitors out of business at the expense of weakening American security.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think the their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law and are encouraging N. Korea to bomb and murder S. Koreans indiscriminately. China is making the world a dangerous place. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that preceded the overthrow of most tyrannies in the past. China has many leaders ready now to bring a real democracy to China. If China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
------------------------------------------------------
1984 by George Orwell is an excellent read.
The story follows Winston Smith, an average Party member in Oceania, one of the world’s three remaining nations. ‘The Party,’ monitors all citizens of Oceania continuously via ‘telescreens’ installed virtually everywhere – a sort of television with a monitor in it which can not be turned off just like our modern computers. He foresaw this back in 1949. The Party broadcasts propaganda and relays video and sound back to the thought police who are listening to the audience response. If anyone is caught acting or speaking in a nonconformist manner, they are likely to be taken by the thought police in the middle of the night, never to be heard of again (like the USSR and Iran), and all traces of their very existence are subsequently eradicated. Part of Winston’s job is the eradication of traces of the people who disappear. He works in the Ministry of Truth – Minitrue, in newspeak (a simplified, reduced version of English intended to limit the possible range of thought and emotion of the speaker) where he rewrites newspapers, books, and other media to reflect favorable opinion of the Party. For example, if a Party member were to announce they expected to produce 100 shoes in the next quarter, and in fact 75 shoes were produced, Winston’s job is to go in and rewrite the original predication to, perhaps, 50 shoes, in order to make it seem not just that the prediction was correct but that production in fact exceeded demand. The Ministry of Truth then goes on to destroy all original copies and replace them with the so-called corrected edition.
-------------------------------------
Finally NY Attorney General Cuomo is investigating the accounting firms that have been showing businesses and countries like Greece how to hide their debt to defraud investors and go even deeper into unrecoverable debt. Any deceptive or immoral practice is illegal in the United States and does not need a specific law to be broken. There are plenty of non-specific laws against fraud because there is a new fraud concocted every year. Teach fraud should be enough reason to confiscate all the assets of the accounting firm because the damage that has already been don exceeds the value of all US accounting firms. The managers of those firms should be sued just like Maddoff is being sued that they and their families should be stripped of everything they own here and abroad.
As usual Obama says a lot but has done nothing to claw back the millions high level corporate thieves have stolen but instead goes after the little people in the organizations who make the phone calls for their bosses.
World Markets:
Chinese economic data is likely entirely fraudulent now and is beginning to become belligerent via N. Korea their junkyard dog of communism. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Last Friday
Dec 17 10:00 AM Leading Indicators Nov rose to 1.1% from 0.5% due almost entirely to the rise in the stock market which is a leading indicator.
This Week
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 21, 2010
There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline. Volume fell about 25% as markets inched up yesterday.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies. They say the Armed Services will have a code of conduct such that gays will not discuss their "superior" life stiles on duty nor subtly proposition others nor walk around naked and suggestively nor participate in San Francisco's annual Free Gay Sex on the Street Day. But isn't that going to be all decreed a violation of free speech by GE/MSNBC/Pravda and their leftist appointed judges? You, bet! That won't last long.
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were up last night. China's market was up 1.8%, Hong Kong up 1.6%, India up 0.9%, and Japan up 1.5%.
European markets are up this morning in a range of about 0.3% to 0.9% half way through their day.
US pre-market futures are up slightly at about 0.3% at 8:00 AM EST.
They were not selected for the JSF either so they want to either kill the JSF just as they killed the F-22 Raptor last year. They use their influence with leftist politicians and MSNBC (which is their propaganda mouth) to force better products of American competition off American weapon systems. They use leftist-socialist-communist style politics that only weaken the USA. They say it is not what GE knows that matters it is who they know in congress. When they succeed in getting their corrupt politicians to force their inferior engines on the wings as a second redundant engine option they immediately double the cost because the airplane then needs expensive modifications and totally inferior maintenance, testing, and support of an incompatible inferior GE/NSNBC/Pravda product.
The F22 Raptor is a stealth fighter, the most advance fighter in the world with over 200 aircraft in service. GE killed production because they say it is expensive. Well golly gee whiz, all of America's weapons are expensive because GE sucks the blood out of the programs requiring continuous GE studies of the competition's weapon's systems so they can steal the technology. The Non-GE weapons are superior to anything the communists are capable of producing. Yes, the air-cooled turbine blades of the F119 engine that powers the F22 Raptor were/are impossible for the USSR or any other communist or maniacal terrorist country to make because they are advanced USA technology. But GE also managed to kill American advanced technology in the area of new machine intelligence. The F119 powered Raptor diagnostic systems could cut the future maintenance costs of all American commercial as well as military aircraft. So all those potential future cost savings were lost last year because the socialists who now run GE/MSNBC/Pravda and steal American technology do not want good old American competition because a socialist run GE/MSNBC/Pravda is naturally against competition in any form with other socialists. According to Marx, profits and competition are evil and GE/MSNBC/Pravda is right up there with him.
GE now gets contracts by buying politicians and using MSNBC/Pravda as their Nationalist Socialist propaganda mouthpiece attacking any of the honest politicians with MSNBC/Pravda and joining in with George Soros to kill America's competitive companies and take away their contracts. GE/MSNBC/Pravda thinks America is too big and bad. GE is no longer American or actually run by Americans any more. Their current president is not an American. Voila! The reason the Boeing Dreamliner is such a disaster is the engines for it are made by foreign management: RR and GE/MSNBC/Pravda. `
In summary, GE/MSNBC/Pravda is now a socialist company run by foreigners with a four pronged strategy for destroying American technology. First they attempt to buy their way in exclusively on every military and commercial product. If they lose to American ingenuity then they use their socialist cohorts to make the superior American products more expensive by getting annual multi-million dollar GE/MSNBC/Pravda study contracts to force their competition to react thus driving up research costs. Third, if they succeed in getting their #2 inferior product on the wing with the best, the cost of the program immediately doubles. Fourth, they keep doing this over and over again every year with their leftists supporters who hate America because America still shows the world that American Constitution guaranteed personal freedoms give Americans the incentive to be the most productive people on the planet.
Socialists/communists in all their writings since Karl Mark say they hate competition and individualism. They think the their politburos of idiot psychopaths do a better job planning their economies than Americans can do with free enterprise. They have no concept of what intelligence is. That is why buying GE/MSNBC/Pravda = Buying into Socialist mediocrity.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law and are encouraging N. Korea to bomb and murder S. Koreans indiscriminately. China is making the world a dangerous place. We should anticipate a collapse in India's economy as China waits for the moment India is most vulnerable. China's façade of being a good neighbor is rapidly changing as economic success goes to their heads. This crisis that China is slowly making is just the kind of activity that preceded the overthrow of most tyrannies in the past. China has many leaders ready now to bring a real democracy to China. If China continues down the current path they will join Iran and N. Korea as part of the world's evil empire. Then they could have a violent revolution or a peaceful USSR type overthrow. Unfortunately the old communist criminals are still in power in quasi-capitalist Russia.
------------------------------------------------------
1984 by George Orwell is an excellent read.
The story follows Winston Smith, an average Party member in Oceania, one of the world’s three remaining nations. ‘The Party,’ monitors all citizens of Oceania continuously via ‘telescreens’ installed virtually everywhere – a sort of television with a monitor in it which can not be turned off just like our modern computers. He foresaw this back in 1949. The Party broadcasts propaganda and relays video and sound back to the thought police who are listening to the audience response. If anyone is caught acting or speaking in a nonconformist manner, they are likely to be taken by the thought police in the middle of the night, never to be heard of again (like the USSR and Iran), and all traces of their very existence are subsequently eradicated. Part of Winston’s job is the eradication of traces of the people who disappear. He works in the Ministry of Truth – Minitrue, in newspeak (a simplified, reduced version of English intended to limit the possible range of thought and emotion of the speaker) where he rewrites newspapers, books, and other media to reflect favorable opinion of the Party. For example, if a Party member were to announce they expected to produce 100 shoes in the next quarter, and in fact 75 shoes were produced, Winston’s job is to go in and rewrite the original predication to, perhaps, 50 shoes, in order to make it seem not just that the prediction was correct but that production in fact exceeded demand. The Ministry of Truth then goes on to destroy all original copies and replace them with the so-called corrected edition.
-------------------------------------
Finally NY Attorney General Cuomo is investigating the accounting firms that have been showing businesses and countries like Greece how to hide their debt to defraud investors and go even deeper into unrecoverable debt. Any deceptive or immoral practice is illegal in the United States and does not need a specific law to be broken. There are plenty of non-specific laws against fraud because there is a new fraud concocted every year. Teach fraud should be enough reason to confiscate all the assets of the accounting firm because the damage that has already been don exceeds the value of all US accounting firms. The managers of those firms should be sued just like Maddoff is being sued that they and their families should be stripped of everything they own here and abroad.
As usual Obama says a lot but has done nothing to claw back the millions high level corporate thieves have stolen but instead goes after the little people in the organizations who make the phone calls for their bosses.
World Markets:
Chinese economic data is likely entirely fraudulent now and is beginning to become belligerent via N. Korea their junkyard dog of communism. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Last Friday
Dec 17 10:00 AM Leading Indicators Nov rose to 1.1% from 0.5% due almost entirely to the rise in the stock market which is a leading indicator.
This Week
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 21, 2010
There is a lot of optimism that a double dip will not occur and the volatility index is below 20 indicating complacency. That optimism and complacency usually precedes a decline. Volume fell about 25% as markets inched up yesterday.
Obama socialists cast a long shadow over American recovery because socialism attracts and rewards the most stupid manipulative people. The longer the socialists are in power the more ridiculous they make American policies. They say the Armed Services will have a code of conduct such that gays will not discuss their "superior" life stiles on duty nor subtly proposition others nor walk around naked and suggestively nor participate in San Francisco's annual Free Gay Sex on the Street Day. But isn't that going to be all decreed a violation of free speech by GE/MSNBC/Pravda and their leftist appointed judges? You, bet! That won't last long.
Make sure you take all possible losses to balance your gains. Obama is requiring securities firms to report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to decrease capital gains taxes to as close to zero as possible. It will minimize the amount that investors pay in capital gains this year. In demanding more information to harass some investors, all the investors are getting the information needed to drive their taxes as close to zero as possible. In the past investors did not sell fractions of their under performing investments as much as they will going forward.
GE/MSNBC/Pravda's Jim Cramer loves to pick stocks at their 52-week highs. Socialism means buy high and sell your freedoms short.
World Markets
Asian markets were up last night. China's market was up 1.8%, Hong Kong up 1.6%, India up 0.9%, and Japan up 1.5%.
European markets are up this morning in a range of about 0.3% to 0.9% half way through their day.
US pre-market futures are up slightly at about 0.3% at 8:00 AM EST.
Monday, December 20, 2010
Start to boycott China's products until they release their American prisoner, the WS analyst.
Start to boycott China's products until they release their American prisoner, the WS analyst. It is time to be looking at those made in China labels, items to boycott. They are now arresting Americans for no cause (the WS analyst) in violation of international law and are encouraging N. Korea to shell and murder S. Koreans indiscriminately. China is making the world a dangerous place.
World Markets:
Chinese economic data is likely fraudulent now. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Last Friday
Dec 17 10:00 AM Leading Indicators Nov rose to 1.1% from 0.5% due almost entirely to the rise in the stock market which is a leading indicator.
This Week
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 20, 2010
The stock market is at its resistance level but on declining volume and not very promising. This still looks like the funds manipulating the level so that the funds can have a good year to report. There is a lot of optimism that a double dip will not occur. But on the other hand Obama socialists cast a long shadow over American recovery.
Obama regulations are backfiring on tax collections. Obama is requiring firms report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to drive capital gains taxes to as close to zero as possible by selling some stocks that are currently down. This could cause the entire stock market to drop a little as the New Year approaches instead of staying high to the very end as we had expected. It will also minimize the amount that investors pay in capital gains this year.
We warned about the bond bubble a few months before it began to fall. Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and that is followed with a collapse in stock prices.
World Markets
Asian markets were down last night. China's market was down -1.4%, Hong Kong down -032%, India up 0.1%, and Japan down -0.9%.
European markets are up this morning in a range of about 0.3% to 1.1% half way through their day.
US pre-market futures are up slightly at about 0.4% at 8:00 AM EST.
World Markets:
Chinese economic data is likely fraudulent now. There is no way to know truth about China anymore. China imprisoned an American and gave him an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China supports N. Korea, shows no respect for the rights of investors seeking the truth, and arrests anyone seeking the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China now has an unsound policy that is just plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
Economic reports:
Last Friday
Dec 17 10:00 AM Leading Indicators Nov rose to 1.1% from 0.5% due almost entirely to the rise in the stock market which is a leading indicator.
This Week
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 10:00 AM Existing Home Sales Nov -
Dec 22 10:00 AM FHFA Home Price Index Oct
Dec 22 10:30 AM Crude Inventories 12/18
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders - ex Transportation Nov
Dec 23 8:30 AM Initial Claims 12/18
Dec 23 8:30 AM Continuing Claims 12/11
Dec 23 9:55 AM University of Michigan Sentiment - Final Dec
Dec 23 10:00 AM New Home Sales
Market Outlook Dec 20, 2010
The stock market is at its resistance level but on declining volume and not very promising. This still looks like the funds manipulating the level so that the funds can have a good year to report. There is a lot of optimism that a double dip will not occur. But on the other hand Obama socialists cast a long shadow over American recovery.
Obama regulations are backfiring on tax collections. Obama is requiring firms report not just client purchases and sales but also profit and loss. The firms, in doing that, have decided to tell their clients in advance so the clients know that they can take some losses to drive capital gains taxes to as close to zero as possible by selling some stocks that are currently down. This could cause the entire stock market to drop a little as the New Year approaches instead of staying high to the very end as we had expected. It will also minimize the amount that investors pay in capital gains this year.
We warned about the bond bubble a few months before it began to fall. Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and that is followed with a collapse in stock prices.
World Markets
Asian markets were down last night. China's market was down -1.4%, Hong Kong down -032%, India up 0.1%, and Japan down -0.9%.
European markets are up this morning in a range of about 0.3% to 1.1% half way through their day.
US pre-market futures are up slightly at about 0.4% at 8:00 AM EST.
Wednesday, December 15, 2010
The Obama administration is in the Ozone and has done virtually nothing to clear out the "be happy" mortgage crisis
The Obama administration is in the Ozone and has done virtually nothing to clear out the "be happy" mortgage crisis that the Senate Banking Commission created by putting "be happy" Obama folk in the Fannie and Freddie administrations.
FED boosts bank profits from doing nothing by keeping bank short term rates low while longer term treasury rate rise in spite of the QE2 effort to keep the long term rates lower. This is great for banks that want to do nothing to stimulate the economy because they get a guaranteed profit for doing nothing.
We have said before that rates need to be raised 0.25% to let banks know the FED is going to stop giving them a free lunch and they had better start loaning it to businesses. Businesses now want to put their money to work and need loans to do it. South Americans are now buying up Miami with cash.
Banks stash the cash and will not invest their cash in new businesses if they can continue borrow from the FED at essentially zero interest and use their cash to buy treasuries at higher rates as the banks do. They have guaranteed profits and no risk with the current deal the FED gives them. US businesses will be forced to invest because pretty soon even red China will be buying up America if the Obama administration continues to give US Banks money for doing nothing just like they give lazy "be happy" or "too good to work" people cash for doing nothing.
World Markets:
China's president liked the movie Finding Private Ryan. That was a great movie. Maybe there is hope for China?
Chinese economic data is likely entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China shows no respect for the rights of investors to seek the truth and arrests anyone seek the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China has to stop hiding the truth by arresting people. That is not sound policy it is plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
This week's news
This week
ProducerPriceIndex Nov rose 0.8% after rising 0.4% previous month. Could put pressure on profits.
Core PPI Nov rose 0.6% after declining -0.4% previous month. A wash.
Retail Sales Nov rose only 0.8% after rising 1.2% previous month. Fading, not a good sign.
Retail Sales ex-auto Nov up 1.2 % after rising 0.4% previous month.
Business Inventories Oct rose 0.7% after and is terrible after rising 1.3% last month after last month being adjusted up to 1.3%. That means Obama really hid a rate of 1.1% increase. Inventory buildup is always bad for future growth.
FOMC Rate Decision was to reward banks for buying into Obama's debt with essentially free Obama FED loans at the FED window.
Dec 15 7:00 AM MBA Mortgage Applications 12/10 declined -2.3% after declining 0.9% last month. The Obama administration is in the Ozone and has done virtually nothing to clear out the "be happy" mortgage crisis the Senate Banking Commission created by putting "be happy" Obama folk in the Fannie and Freddie administrations.
Dec 15 8:30 AM CPI Nov
Dec 15 8:30 AM Core CPI Nov
Dec 15 8:30 AM Empire Manufacturing Survey Dec
Dec 15 9:00 AM Net long-term TIC Flows Oct
Dec 15 9:15 AM Industrial Production Nov
Dec 15 9:15 AM Capacity Utilization Nov
Dec 15 10:00 AM NAHB Housing Market Index Dec
Dec 15 10:30 AM Crude Inventories 12/11
Dec 16 8:30 AM Initial Claims 12/11
Dec 16 8:30 AM Continuing Claims 12/05
Dec 16 8:30 AM Housing Starts Nov
Dec 16 8:30 AM Building Permits Nov
Dec 16 8:30 AM Current Account Balance Q3
Dec 16 10:00 AM Philadelphia Fed Dec
Dec 17 10:00 AM Leading Indicators Nov
Market Outlook Dec 15, 2010
Obama policy is to abandon the WASP seniors who have paid in all the Social Security funds in favor of his racist policies to help those who have the "be happy" culture that rejects the work ethic. The "be happy" culture comes up from the tropics to wherever socialists nations provide an easy life of welfare and $billions in "be happy" housing stimulus benefits for Obama's people. Somebody has to pay for all these people who have liberated themselves from the drudgery of work and who are so creative in how the play and have fun. 40% of Americans now pay no taxes and a little more than half of them (~25%) have been liberated from the WASP (White Anglo-Saxon Protestant) work ethic. Obama is the first president of color and the first to entirely eliminate WASPs from the US Supreme Court.
Obama rewards "be happy" fraud. It is reported that Obama made 80,000 of his "be happy" people millionaires by giving them reparations for years of fraudulent claims of discrimination against the Agricultural Department which, (as with most government jobs), happens to stacked mostly "be happy" people who need to pretend to work so they can retire with twice the benefits as those cold hearted regular Americans who work real jobs and pay taxes. We also heard that Agriculture Department "be happy" employee tell how she only discriminated against "Whitey" until she discovered that some "honkies" were poor. No one in the Agg Department ever said they discriminated against any "be happy" Obama folk. Still Obama got his "be happy" folk reparations under the table with no national debate.
Making "be happy" people millionaires is part of Obama's stimulation policy because he says they spend money faster than they can legally get it. The fact that they don't feel like saving for their future is why they stay poor and have no future. That is called socialism. That is why he wants to raise taxes on people who actually do real work and who create real jobs. None of the Obama kinfolk in the "be happy" Obama voting block want a real job so what good are productive people anyway then they always vote against socialism. They are now the majority and they are racists now because productive Americans are now the minority. When Obama has a 50% "be happy" voting block he can create his own USA Banana Republic like the ones his idols Castro and Ortega created. With the stoke of the pen he can then change the US Constitution and get rid of the American Democracy and allow for succession of power of the ruling family like they have now in Cuba, N. Korea, and no doubt soon in Venezuela.
No longer will "be happy" people be called lazy in Obama's banana republic. No longer will judges apply the cold-hearted justice of WASPs. From now on judges must give special consideration to the "be happy" life stile and the unfair proportions in which they get busted for drug running and homicides. Obviously "be happy" people are not happy that so many of their kin end up in prisons. The new Obama "be happy Justice system" will level the playing field of justice and make sure there are equal proportions of WASPs and Tea Party folk in prisons. The Obama Justice Department upon taking power two years ago let it be known that returning soldiers are a terrorist threat.
The stock market continually hits the wall at the recent resistance level which is virtually the high for the year. The U.S. market continues in a narrow trading range. We continue to test the upper range yet again but any breakout is likely to be a trap of serious proportions. Optimism is high but evidence is lacking that the US economy is accelerating this quarter.
Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year and lose again by investing high in stocks.
World Markets
Asian markets were down sharply last night. China's market was down -0.6%, Hong Kong down -2%, India down -0.8%, and Japan down -0.1%.
European markets are down this morning in a range of about -0.3% to -0.8% half way through their day.
US pre-market futures are down about -0.3% at 8:00 AM EST.
The court in Virginia decided that forcing people to buy into Obamacare was unconstitutional. Obama thinks he will still be able to force Obamacare down American's throats while we wait for a Supreme Court Ruling but that is because he is an idiot and still does not understand what Americans think about Obomb-duh care for his "be happy" voting block. Giving away America's resources to the lazy Obamafolk will only attract more illegal immigrants, pot heads, and drug dealer making Obama's voting block too big to throw out of power. It may already be too late for Americans to stop the new wave of socialists like Hitler, Stalin, Mao and Mahmoud Ahmadinejad.
FED boosts bank profits from doing nothing by keeping bank short term rates low while longer term treasury rate rise in spite of the QE2 effort to keep the long term rates lower. This is great for banks that want to do nothing to stimulate the economy because they get a guaranteed profit for doing nothing.
We have said before that rates need to be raised 0.25% to let banks know the FED is going to stop giving them a free lunch and they had better start loaning it to businesses. Businesses now want to put their money to work and need loans to do it. South Americans are now buying up Miami with cash.
Banks stash the cash and will not invest their cash in new businesses if they can continue borrow from the FED at essentially zero interest and use their cash to buy treasuries at higher rates as the banks do. They have guaranteed profits and no risk with the current deal the FED gives them. US businesses will be forced to invest because pretty soon even red China will be buying up America if the Obama administration continues to give US Banks money for doing nothing just like they give lazy "be happy" or "too good to work" people cash for doing nothing.
World Markets:
China's president liked the movie Finding Private Ryan. That was a great movie. Maybe there is hope for China?
Chinese economic data is likely entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed. As long as China shows no respect for the rights of investors to seek the truth and arrests anyone seek the truth, China will become an increasing risk of total economic collapse. If they continue to hide the truth about their many corrupt businesses that continue to sell worthless stock to ignorant foreigners China will be heading to a total collapse just as Russia experienced over ten years ago. But this time foreign investors will be burned much more badly. China has to stop hiding the truth by arresting people. That is not sound policy it is plain stupid and dangerous in that it makes China unstable and unreliable as a world partner.
This week's news
This week
ProducerPriceIndex Nov rose 0.8% after rising 0.4% previous month. Could put pressure on profits.
Core PPI Nov rose 0.6% after declining -0.4% previous month. A wash.
Retail Sales Nov rose only 0.8% after rising 1.2% previous month. Fading, not a good sign.
Retail Sales ex-auto Nov up 1.2 % after rising 0.4% previous month.
Business Inventories Oct rose 0.7% after and is terrible after rising 1.3% last month after last month being adjusted up to 1.3%. That means Obama really hid a rate of 1.1% increase. Inventory buildup is always bad for future growth.
FOMC Rate Decision was to reward banks for buying into Obama's debt with essentially free Obama FED loans at the FED window.
Dec 15 7:00 AM MBA Mortgage Applications 12/10 declined -2.3% after declining 0.9% last month. The Obama administration is in the Ozone and has done virtually nothing to clear out the "be happy" mortgage crisis the Senate Banking Commission created by putting "be happy" Obama folk in the Fannie and Freddie administrations.
Dec 15 8:30 AM CPI Nov
Dec 15 8:30 AM Core CPI Nov
Dec 15 8:30 AM Empire Manufacturing Survey Dec
Dec 15 9:00 AM Net long-term TIC Flows Oct
Dec 15 9:15 AM Industrial Production Nov
Dec 15 9:15 AM Capacity Utilization Nov
Dec 15 10:00 AM NAHB Housing Market Index Dec
Dec 15 10:30 AM Crude Inventories 12/11
Dec 16 8:30 AM Initial Claims 12/11
Dec 16 8:30 AM Continuing Claims 12/05
Dec 16 8:30 AM Housing Starts Nov
Dec 16 8:30 AM Building Permits Nov
Dec 16 8:30 AM Current Account Balance Q3
Dec 16 10:00 AM Philadelphia Fed Dec
Dec 17 10:00 AM Leading Indicators Nov
Market Outlook Dec 15, 2010
Obama policy is to abandon the WASP seniors who have paid in all the Social Security funds in favor of his racist policies to help those who have the "be happy" culture that rejects the work ethic. The "be happy" culture comes up from the tropics to wherever socialists nations provide an easy life of welfare and $billions in "be happy" housing stimulus benefits for Obama's people. Somebody has to pay for all these people who have liberated themselves from the drudgery of work and who are so creative in how the play and have fun. 40% of Americans now pay no taxes and a little more than half of them (~25%) have been liberated from the WASP (White Anglo-Saxon Protestant) work ethic. Obama is the first president of color and the first to entirely eliminate WASPs from the US Supreme Court.
Obama rewards "be happy" fraud. It is reported that Obama made 80,000 of his "be happy" people millionaires by giving them reparations for years of fraudulent claims of discrimination against the Agricultural Department which, (as with most government jobs), happens to stacked mostly "be happy" people who need to pretend to work so they can retire with twice the benefits as those cold hearted regular Americans who work real jobs and pay taxes. We also heard that Agriculture Department "be happy" employee tell how she only discriminated against "Whitey" until she discovered that some "honkies" were poor. No one in the Agg Department ever said they discriminated against any "be happy" Obama folk. Still Obama got his "be happy" folk reparations under the table with no national debate.
Making "be happy" people millionaires is part of Obama's stimulation policy because he says they spend money faster than they can legally get it. The fact that they don't feel like saving for their future is why they stay poor and have no future. That is called socialism. That is why he wants to raise taxes on people who actually do real work and who create real jobs. None of the Obama kinfolk in the "be happy" Obama voting block want a real job so what good are productive people anyway then they always vote against socialism. They are now the majority and they are racists now because productive Americans are now the minority. When Obama has a 50% "be happy" voting block he can create his own USA Banana Republic like the ones his idols Castro and Ortega created. With the stoke of the pen he can then change the US Constitution and get rid of the American Democracy and allow for succession of power of the ruling family like they have now in Cuba, N. Korea, and no doubt soon in Venezuela.
No longer will "be happy" people be called lazy in Obama's banana republic. No longer will judges apply the cold-hearted justice of WASPs. From now on judges must give special consideration to the "be happy" life stile and the unfair proportions in which they get busted for drug running and homicides. Obviously "be happy" people are not happy that so many of their kin end up in prisons. The new Obama "be happy Justice system" will level the playing field of justice and make sure there are equal proportions of WASPs and Tea Party folk in prisons. The Obama Justice Department upon taking power two years ago let it be known that returning soldiers are a terrorist threat.
The stock market continually hits the wall at the recent resistance level which is virtually the high for the year. The U.S. market continues in a narrow trading range. We continue to test the upper range yet again but any breakout is likely to be a trap of serious proportions. Optimism is high but evidence is lacking that the US economy is accelerating this quarter.
Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year and lose again by investing high in stocks.
World Markets
Asian markets were down sharply last night. China's market was down -0.6%, Hong Kong down -2%, India down -0.8%, and Japan down -0.1%.
European markets are down this morning in a range of about -0.3% to -0.8% half way through their day.
US pre-market futures are down about -0.3% at 8:00 AM EST.
The court in Virginia decided that forcing people to buy into Obamacare was unconstitutional. Obama thinks he will still be able to force Obamacare down American's throats while we wait for a Supreme Court Ruling but that is because he is an idiot and still does not understand what Americans think about Obomb-duh care for his "be happy" voting block. Giving away America's resources to the lazy Obamafolk will only attract more illegal immigrants, pot heads, and drug dealer making Obama's voting block too big to throw out of power. It may already be too late for Americans to stop the new wave of socialists like Hitler, Stalin, Mao and Mahmoud Ahmadinejad.
Tuesday, December 14, 2010
When will the FED inch up rates?
When will the FED inch up rates?
We have said before that rates need to be raised 0.25% to let banks know the FED is going to stop giving them free money and they had better start loaning it to businesses. It will also tell businesses that the money they hid under their beds is going to be worth less if they don't put it to work.
Banks stash the cash and will not invest their cash in new businesses if they can borrow from the FED at essentially zero interest and use their cash to buy treasuries at higher rates as the banks do. They have guaranteed profits and no risk with the current deal the FED gives them. Businesses will not invest their hoards of cash when deflation tells them it is better to wait for lower costs. So rising rates and QE2 are the right thing to do except it is time for the FED to raise the cost of capital by raising discount window rates to encourage banks to invest in American business.
World Markets:
China's president liked the movie Finding Private Ryan. That was a great movie. Maybe there is hope for China?
China did not raise interest rates this weekend and now risks a more abrupt tightening in monetary policy next year even as inflation accelerated to the fastest pace in more than two years. Consumer prices jumped 5.1 percent in November, a statistics bureau report showed Dec. 11. A measure of wholesale costs climbed 6.1 percent, exceeding all 28 estimates. World crude oil prices advanced after a Chinese government report showed their refineries ran at record rates last month, signaling oil demand will continue to increase in the world’s largest energy user.
Chinese economic data though is likely entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed.
This week's news
The FED meets today.
Friday
US Nov treasury budget deficit was $150.4Billion up from the deficit of $120.3Billion last month. That means Obama's deficit is now running at $1.8Trillion per year or more than four times higher than the highest deficit George Bush ever had during his eight years and actually close to the total sum of Bush's deficits over his eight years. And that is why Obama was elected because he was going to fix the deficit... so he said.
This week
Dec 14 8:30 AM PPI Nov
Dec 14 8:30 AM Core PPI Nov
Dec 14 8:30 AM Retail Sales Nov
Dec 14 8:30 AM Retail Sales ex-auto Nov
Dec 14 10:00 AM Business Inventories Oct
Dec 14 3:15 PM FOMC Rate Decision Dec 14
Dec 15 7:00 AM MBA Mortgage Applications 12/10
Dec 15 8:30 AM CPI Nov
Dec 15 8:30 AM Core CPI Nov
Dec 15 8:30 AM Empire Manufacturing Survey Dec
Dec 15 9:00 AM Net long-term TIC Flows Oct
Dec 15 9:15 AM Industrial Production Nov
Dec 15 9:15 AM Capacity Utilization Nov
Dec 15 10:00 AM NAHB Housing Market Index Dec
Dec 15 10:30 AM Crude Inventories 12/11
Dec 16 8:30 AM Initial Claims 12/11
Dec 16 8:30 AM Continuing Claims 12/05
Dec 16 8:30 AM Housing Starts Nov
Dec 16 8:30 AM Building Permits Nov
Dec 16 8:30 AM Current Account Balance Q3
Dec 16 10:00 AM Philadelphia Fed Dec
Dec 17 10:00 AM Leading Indicators Nov
Market Outlook Dec 14, 2010
Obama policy is to abandon the WASP seniors who have paid in all the Social Security funds in favor of his racist policies to help those who have the "be happy" culture that rejects the work ethic. The "be happy" culture comes up to wherever socialists provide an easy life of welfare and $billions in "be happy" housing stimulus benefits for Obama's people. Somebody has to pay for all these people who have liberated themselves from the drudgery of work and who are so creative in how the play and have fun. 40% of Americans now pay no taxes and a little more than half of them (~25%) have been liberated from the WASP (White Anglo-Saxon Protestant) work ethic. Obama is the first president of color and the first to entirely eliminate WASPs from the US Supreme Court.
It is reported that Obama made 80,000 of his "be happy" people millionaires by giving them reparations for years of discrimination by the Agricultural Department which, as with most government jobs, happens to employ mostly "be happy" people who need to pretend to work so they can retire with twice the benefits as the cold hearted workaholics who work real jobs and pay taxes. We also heard that Agriculture Department "be happy" employee tell how she only discriminated against "Whitey" until she discovered that some "honkies" were poor. No one in the Agg Department ever said they discriminated against any other race. Still Obama got his "be happy" folk reparations under the table with no national debate.
Making "be happy" people millionaires is part of Obama's stimulation policy because they spend money faster than they can legally get it. That is called socialism. That is why he wants to raise taxes on people who actually do real work and who create real jobs. None of the kinfolk in the "be happy" Obama voting block want a real job so what good are productive people anyway then they always vote against socialism. When Obama has a 50% "be happy" voting block he can create his own USA Banana Republic like the ones his idols Castro and Ortega created. With the stoke of the pen he can then change the US Constitution and get rid of the American Democracy and allow for succession of power of the ruling family like they have now in Cuba, N. Korea, and no doubt soon in Venezuela.
No longer will "be happy" people be called lazy. No longer will judges apply the cold-hearted justice of WASPs. From now on judges must give special consideration to the "be happy" life stile and the unfair proportions in which they get busted for drug running and homicides. Obviously "be happy" people are not happy that so many of their kin end up in prisons. The new Obama "be happy Justice system" will level the playing field of justice and make sure there are equal proportions of WASPs and Tea Party folk in prisons. The Obama Justice Department upon taking power two years ago let it be known that returning soldiers are a terrorist threat.
The stock market continually hits the wall at the recent resistance level which is virtually the high for the year. The U.S. market continues in a narrow trading range. We continue to test the upper range yet again but any breakout is likely to be a trap of serious proportions. Optimism is high but evidence is lacking that the US economy is accelerating this quarter.
Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year and lose again by investing high in stocks.
World Markets
Asian markets were up slightly last night. China's market was up 0.1%, Hong Kong up 0.5%, India up 0.6%, and Japan up 0.2%.
European markets are flat this morning in a range of about -0.2% to +0.3% half way through their day.
US pre-market futures are flat again at about +0.1% at 7.30 AM EST.
The court in Virginia decided that forcing people to buy into Obamacare was unconstitutional. Obama thinks he will still be able to force Obamacare down American's throats while we wait for a Supreme Court Ruling but that is because he is an idiot and still does not understand what Americans think about Obomb-duh care for his "be happy" voting block. Giving away America's resources to the lazy Obamafolk will only attract more illegal immigrants, pot heads, and drug dealer making Obama's voting block too big to throw out of power. It may already be too late for Americans to stop the new wave of socialists like Hitler, Stalin, Mao and Mahmoud Ahmadinejad.
We have said before that rates need to be raised 0.25% to let banks know the FED is going to stop giving them free money and they had better start loaning it to businesses. It will also tell businesses that the money they hid under their beds is going to be worth less if they don't put it to work.
Banks stash the cash and will not invest their cash in new businesses if they can borrow from the FED at essentially zero interest and use their cash to buy treasuries at higher rates as the banks do. They have guaranteed profits and no risk with the current deal the FED gives them. Businesses will not invest their hoards of cash when deflation tells them it is better to wait for lower costs. So rising rates and QE2 are the right thing to do except it is time for the FED to raise the cost of capital by raising discount window rates to encourage banks to invest in American business.
World Markets:
China's president liked the movie Finding Private Ryan. That was a great movie. Maybe there is hope for China?
China did not raise interest rates this weekend and now risks a more abrupt tightening in monetary policy next year even as inflation accelerated to the fastest pace in more than two years. Consumer prices jumped 5.1 percent in November, a statistics bureau report showed Dec. 11. A measure of wholesale costs climbed 6.1 percent, exceeding all 28 estimates. World crude oil prices advanced after a Chinese government report showed their refineries ran at record rates last month, signaling oil demand will continue to increase in the world’s largest energy user.
Chinese economic data though is likely entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust Chinese financial information because fraud in China cannot be exposed.
This week's news
The FED meets today.
Friday
US Nov treasury budget deficit was $150.4Billion up from the deficit of $120.3Billion last month. That means Obama's deficit is now running at $1.8Trillion per year or more than four times higher than the highest deficit George Bush ever had during his eight years and actually close to the total sum of Bush's deficits over his eight years. And that is why Obama was elected because he was going to fix the deficit... so he said.
This week
Dec 14 8:30 AM PPI Nov
Dec 14 8:30 AM Core PPI Nov
Dec 14 8:30 AM Retail Sales Nov
Dec 14 8:30 AM Retail Sales ex-auto Nov
Dec 14 10:00 AM Business Inventories Oct
Dec 14 3:15 PM FOMC Rate Decision Dec 14
Dec 15 7:00 AM MBA Mortgage Applications 12/10
Dec 15 8:30 AM CPI Nov
Dec 15 8:30 AM Core CPI Nov
Dec 15 8:30 AM Empire Manufacturing Survey Dec
Dec 15 9:00 AM Net long-term TIC Flows Oct
Dec 15 9:15 AM Industrial Production Nov
Dec 15 9:15 AM Capacity Utilization Nov
Dec 15 10:00 AM NAHB Housing Market Index Dec
Dec 15 10:30 AM Crude Inventories 12/11
Dec 16 8:30 AM Initial Claims 12/11
Dec 16 8:30 AM Continuing Claims 12/05
Dec 16 8:30 AM Housing Starts Nov
Dec 16 8:30 AM Building Permits Nov
Dec 16 8:30 AM Current Account Balance Q3
Dec 16 10:00 AM Philadelphia Fed Dec
Dec 17 10:00 AM Leading Indicators Nov
Market Outlook Dec 14, 2010
Obama policy is to abandon the WASP seniors who have paid in all the Social Security funds in favor of his racist policies to help those who have the "be happy" culture that rejects the work ethic. The "be happy" culture comes up to wherever socialists provide an easy life of welfare and $billions in "be happy" housing stimulus benefits for Obama's people. Somebody has to pay for all these people who have liberated themselves from the drudgery of work and who are so creative in how the play and have fun. 40% of Americans now pay no taxes and a little more than half of them (~25%) have been liberated from the WASP (White Anglo-Saxon Protestant) work ethic. Obama is the first president of color and the first to entirely eliminate WASPs from the US Supreme Court.
It is reported that Obama made 80,000 of his "be happy" people millionaires by giving them reparations for years of discrimination by the Agricultural Department which, as with most government jobs, happens to employ mostly "be happy" people who need to pretend to work so they can retire with twice the benefits as the cold hearted workaholics who work real jobs and pay taxes. We also heard that Agriculture Department "be happy" employee tell how she only discriminated against "Whitey" until she discovered that some "honkies" were poor. No one in the Agg Department ever said they discriminated against any other race. Still Obama got his "be happy" folk reparations under the table with no national debate.
Making "be happy" people millionaires is part of Obama's stimulation policy because they spend money faster than they can legally get it. That is called socialism. That is why he wants to raise taxes on people who actually do real work and who create real jobs. None of the kinfolk in the "be happy" Obama voting block want a real job so what good are productive people anyway then they always vote against socialism. When Obama has a 50% "be happy" voting block he can create his own USA Banana Republic like the ones his idols Castro and Ortega created. With the stoke of the pen he can then change the US Constitution and get rid of the American Democracy and allow for succession of power of the ruling family like they have now in Cuba, N. Korea, and no doubt soon in Venezuela.
No longer will "be happy" people be called lazy. No longer will judges apply the cold-hearted justice of WASPs. From now on judges must give special consideration to the "be happy" life stile and the unfair proportions in which they get busted for drug running and homicides. Obviously "be happy" people are not happy that so many of their kin end up in prisons. The new Obama "be happy Justice system" will level the playing field of justice and make sure there are equal proportions of WASPs and Tea Party folk in prisons. The Obama Justice Department upon taking power two years ago let it be known that returning soldiers are a terrorist threat.
The stock market continually hits the wall at the recent resistance level which is virtually the high for the year. The U.S. market continues in a narrow trading range. We continue to test the upper range yet again but any breakout is likely to be a trap of serious proportions. Optimism is high but evidence is lacking that the US economy is accelerating this quarter.
Bonds are still taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year and lose again by investing high in stocks.
World Markets
Asian markets were up slightly last night. China's market was up 0.1%, Hong Kong up 0.5%, India up 0.6%, and Japan up 0.2%.
European markets are flat this morning in a range of about -0.2% to +0.3% half way through their day.
US pre-market futures are flat again at about +0.1% at 7.30 AM EST.
The court in Virginia decided that forcing people to buy into Obamacare was unconstitutional. Obama thinks he will still be able to force Obamacare down American's throats while we wait for a Supreme Court Ruling but that is because he is an idiot and still does not understand what Americans think about Obomb-duh care for his "be happy" voting block. Giving away America's resources to the lazy Obamafolk will only attract more illegal immigrants, pot heads, and drug dealer making Obama's voting block too big to throw out of power. It may already be too late for Americans to stop the new wave of socialists like Hitler, Stalin, Mao and Mahmoud Ahmadinejad.
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