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.