Americans will be able to take back the government, but not until 2012.

Americans will be able to take back the government, but not until 2012.

The President of the US Chamber of Commerce, Donohue, had to put up with four simultaneous ongoing Federal investigations because the chamber last year decided to support Tea Party candidates because the Obama administration and congress were so leftist that they were destroying the economy. You may recall all the false charges Obama, Pelosi, and Reed were throwing at the COC at that time. It was pure Obama's Gestapo/Stazzi tactics and Nigerian/Indonesian "hack them to death" intimidation and harassment. Yet Donohue’s present comments are American friendly support the White House's new more American civil climate. It came during a speech and press conference about the state of US business, which he said "is improving." The chamber is predicting economic growth of 3.2 percent in 2011 and is “cautiously optimistic that the recovery will continue and pick up steam," he said. Donohue cautioned that it would still leave unemployment in the 8.5 to 9 percent range by year’s end. Nigerian Sharia type relations of the Obama White House and the business community have “never been personal with us,” Donohue said. “It has always been arguments about what we thought about labor or environmental law or health-care law.” “We still face a number of risks that could send us in the wrong direction, and our recovery is fragile and uneven,” Donohue said. "When it comes to jobs, we have a steep hill to climb.”
He added, "There may have been some people over there that got sort of excited about trying to represent their interests." The "over there" possibly refers to the fact the chamber's headquarters sit just across Lafayette Park from the White House. "Over there, over there" is also a WWII song where we send Americans to fight the Nationalist Socialists, the Nazis, "over there" in socialist Europe.
Relations with the business community began improving after the midterm elections, in which Democrats were thrown out 2/1 of the House and Senate. Unfortunately there were not enough Senate socialist up for vote for Americans to take back the Senate as well as the House. Shortly thereafter, Obama agreed to a compromise with Republicans to extend Bush-era tax cuts, and he then reshaped his White House team. Both moves appealed to business groups.
At one point earlier in his administration, Mr. Obama told "60 Minutes" that he "did not run for office to be helping out a bunch of fat cat bankers.” Of course that is not true. George Soros and other fat socialist bankers are the ones who stuffed his coffers and Obama was the one who wanted $1 billion for ACORN, the Chicago activism and prostitution management non-profit corporation. But at a meeting with American business executives last year, Barack Hussein Obama again railed against them again in White House. Obama was and may still be living in his own personal socialist state somewhere in the ozone.

Foreclosure-fraud class action lawsuits have been mounting in Mass. against major US banks across the country, threatening billions more in losses for the industry. There are also several investigations into the matter, including one by involving all 50 state attorneys general. Worst-case stories have featured homeowners who had to fight foreclosure despite not having mortgages at all. GE/MSNBC/Pravda's Jim Cramer says buy the banks now.

World Markets:
Asian markets tumbled yesterday but were flat last night. The big question is how will China deal with their corporate corruption and incompetence. Do communist understand the term, "Crazy like a fox" which describes how massive skimming of profits is hidden by what appears outwardly to be innocent incompetence. It should become obvious when Chinese currency begins to be smuggled out of China. China seems to turn a blind eye toward shell corporations siphoning off capital from foreign investors. Many Chinese stocks that were worth dollars and pounds are now worth pennies.

Yesterday
Jan 11 10:00 AM Wholesale Inventories Nov were down -0.2 with XMASS sales from being up 1.7% in November.

Today
Jan 12 7:00 AM MBA Mortgage Purchase Index 01/07
Jan 12 8:30 AM Export Prices ex-ag. Dec
Jan 12 8:30 AM Import Prices ex-oil Dec
Jan 12 10:30 AM Crude Inventories 01/08
Jan 12 2:00 PM Treasury Budget Dec
Jan 12 2:00 PM Fed's Beige Book Jan

Jan 13 8:30 AM Initial Claims 01/08
Jan 13 8:30 AM Continuing Claims 01/01
Jan 13 8:30 AM PPI Dec
Jan 13 8:30 AM Core PPI Dec
Jan 13 8:30 AM Trade Balance Nov
Jan 14 8:30 AM CPI Dec
Jan 14 8:30 AM Core CPI Dec
Jan 14 8:30 AM Retail Sales Dec
Jan 14 8:30 AM Retail Sales ex-auto Dec
Jan 14 9:15 AM Industrial Production Dec
Jan 14 9:15 AM Capacity Utilization Dec
Jan 14 9:55 AM Mich Sentiment Jan
Jan 14 10:00 AM Business Inventories Nov

Market Outlook Jan 12, 2011
Currently investors remain at historic levels of optimism, although there were very few to be found actually investing again yesterday.

More than 123 companies have registered with the SEC for IPO’s, with more than half coming from companies owned by private-equity firms. In 2010, private-equity firms accounted for only 15% of the total. There will be enormous profits made if stock prices stay at this lofty level. Caution, these IPOs will carry much more debt than normal and are already highly leveraged.

By mid year we expect state and federal worker layoffs because the socialists have not put their government houses in order and the Tea Party wants smaller government. Many predict a major sell off at mid year when several individual states also are in budget crisis. But typically the stock market is six months ahead of economy. QE2 ends mid year but that is likely to be extended.

World Markets
Asian markets were up last night. China's market was up 0.7%, Hong Kong up 1.5%, India up 1.8%, and Japan up 0.02%,

European markets are up this morning in a range of about 0.3% to 1.5% half way through their day.

US pre-market futures are up about 0.55 % at 9:30 AM EST.