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.