Yesterday the holly haters murdered another Pakistani leader who defended Christians against the clerics of holy hate, murder, and terrorism.

Yesterday the holly haters murdered another Pakistani leader who defended Christians against the clerics of holy hate, murder, and terrorism.

Soon people must realize that holly hate faiths are terrorist organizations not religions. On the other hand the Moslem believers in human respect and friendship for all people are not terrorists. But we do not hear much from them anymore because as we saw yesterday the true Moslem leaders are being murdered by the terrorist holy haters of the expanding hate faith sects.

High energy costs are a major tax on the free world and are the greatest source of funding for the world's hate faiths of terrorists. Barack Hussein Obama has shut down most American natural gas and oil exploration to drive up energy costs. Food costs rose 20% last year but the tax paying workers who paid into Social Security to cover their retirement get nothing from Obama for food or energy inflation.

Notice how GE/MSNBC/Pravda stopped covering that welfare woman with two children who got taxpayer money for fertility treatments and had six more children all now on welfare. She gets over $80,000 a year of American taxpayer money and she is a hate faith immigrant. The hate faith plans to conquer the world that way, with high birth rates and by murdering Christians and others of faiths of love and peace. Poverty is not the cause of their hatred as Obama claims. Rich educated holly haters from rich American immigrant families and other western nations love to hate and murder too. Terrorism is clearly the result of holly haters of the worlds hate faiths. And they have several sects of hate faiths in competition over who controls the world's oil resources. Obama aids them by shutting down American oil exploration and by trying to bankrupt BP and other free world oil producers.

Obamacare will give 15 million illegal immigrants and 25 million indigents better health care than American workers can afford for themselves. Oh yes, and do you remember when Obama took office and he said American wounded soldiers should pay for their own medical insurance because they volunteered and they knew the risks they were taking? Don't you just love him? The leftists think he is brilliant!

Obama wants gasoline at $4.50 per gallon by this summer according to GE/MSNBC/Pravda (Jan 3). Obama has cut US exploration and international supply with moratoriums. $140 /barrel oil is coming but will the economy crash before or after that! Leftists want high energy prices to fight global warming and to redistribute wealth to Hamas, Iran, George Soros and their other holy hater friends. High energy prices will make energy sector companies recover but it is a tax on the American economy. High energy costs will raise the costs of business and travel. Airlines will suffer badly. It will work to defeat economic and job recovery but would help sell a few electric cars. Only the terrorists benefit because the oil kingdoms fund the world terrorists and have been trying to buy nuclear bombs to attack Israel, Europe, and America.

World Markets:
China appears to be behind the sudden decline in N Korean hate speech. That is good news. Perhaps China realizes that N. Korea's criminally insane suicidal hate is not a good indication of how China influences its friends and neighbors. We define ourselves by the kinds of friends we have and by how we handle the bullies and haters. This is good but reliability is also an important quality in a friend. Can we count on China as a reliable partner in world peace? How will China deal with the holly haters?

Yes, some emerging markets were booming recently but their economies rise twice as fast as the USA but they then fall even faster. Look at how fast Mexico grew when Clinton gave them our manufacturing business! At first the American job losses, inferior Mexican products, and the American deaths from Mexican human feces left on lettuce and tomatoes took a heavy toll on the American worker. But now Mexico has become a major drug producing nation with Mexican trucking rights to go anywhere in America thanks to Obama considering trucking their free trade right. Duhh--That is Clinton's great Mexican trade deal. Mexico is falling deep into poverty as drug lords cause mayhem and murder.

This week Gold suffered its greatest single day decline in 11 months. Silver prices plummeted. Both are still about 25% overvalued. High energy prices fund the left and the of hate faiths and they buy gold not free world currencies.

Economic reports:
This week the news has been better than in recent past.
Construction Spending Nov 2010 subsided to 0.4% from 0.7% improvement the previous month but down 6% from 2009.
http://www.martincapital.com/chart-pgs/Pg_hous.htm

ISM Index Dec shows management optimism is at 57, up slightly from 56.6 last month and back to where we were in 2002. http://www.martincapital.com/chart-pgs/Pg_ism.htm

Factory Orders Nov were up 0.7% after being down 0.7% the previous month.
Auto Sales Jan US auto sales rose 13% in December, making up the entire increase for the year.
FOMC Minutes -Nothing new
Truck Sales Jan up 11% for the year.
MBA Mortgage Purchase Index 12/31 improved 2.3% after being down 18.7% when the FED first froze bankruptcy processing
Challenger Job Cuts Dec -29% after being just down -3% last month means fewer layoffs predicted
ADP Employment Change Dec added 297 jobs vs 93 last week
ISM Services Dec Institute for Supply Management’s non-factory index, which covers about 90 percent of the economy, rose to 57.1 from 55 in November. A reading greater than 50 signals growth.
Crude Inventories 01/01 -4.2M vs -1.3M last week

Today
Jan 6 8:30 AM Initial Claims 01/01
Jan 6 8:30 AM Continuing Claims 12/25
Jan 7 8:30 AM Nonfarm Payrolls Dec
Jan 7 8:30 AM Nonfarm Private Payrolls Dec
Jan 7 8:30 AM Unemployment Rate Dec
Jan 7 8:30 AM Hourly Earnings Dec
Jan 7 8:30 AM Average Workweek Dec
Jan 7 3:00 PM Consumer Credit Nov

Market Outlook Jan 6, 2011
Funds are fully invested. Trading volume has not picked up. There is no evidence the current market level is due to frightened workers returning to the stock markets. The GE/MSNBC farce has run its course. There are record low levels of cash being held by mutual fund managers now. The AAII poll of individual investors is record optimistic, and the low VIX (fear) Index is at record levels of complacent optimism.

Market volume indicates that investors have not returned to stocks. Perhaps they have bought gold and silver instead because they went through the roof and are due for a major correction. There was some evidence investors were returning to stocks three months ago but that faded in December. Perhaps investors are buying real estate? Real estate is a much better investment than stocks if you have a reliable source of income. But so many Americans have seen their credit ratings fall and cannot buy a house now.

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.

World Markets
Asian markets were flat last night. China's market was down -0.5%, Hong Kong up 0.1%, India down -0.6%, and Japan was up 1.4%.

European markets are up this morning in a range of about.3%% to 1.3% half way through their day.

US pre-market futures are up about 0.3 % at 8:00 AM EST.