Democrat-socialists hope to pressure the Supreme Court to say Obama's government forced (under penalty of law) socialized medicine is constitutional.

Obama democrat-socialists push for accelerated review of only the challenges to the constitutionality of Obama socialized medicine. The democrat-socialists want the U.S. Court of Appeals in Cincinnati to attempt to reverse all opinions of unconstitutionality before going to the Supreme Court. By selecting socialist judges to rule in favor of Obama's socialized medicine the democrat-socialists hope to pressure the Supreme Court to say Obama's government forced (under penalty of law) socialized medicine is constitutional. The democrat-socialists will of course let all leftist lower court rulings go uncontested.


World Markets:
 Euro weakens as German factory orders fall more than economists estimated business trends
 The Austrian carbon registry said allowances illegally transferred from the country have been frozen in accounts in Sweden and Liechtenstein and there is no risk they will be traded on the market.
 Recently independent Southern Sudan's rural development minister, Jimmy Milla, assassinated.
 China leaves deposit rate below inflation pace meaning they will have more inflation yet China's Yuan reached a 17-Year high due to trade balance surplus.
 Obama escalates Egypt’s political crisis throwing Hosni Mubarak’s government into disarray in favor of the Islamist terrorist Brotherhood.


This week past
Consumer Credit Dec shot up $6.1B from a seasonally adjusted $1.3B increase the previous month.

Today
Feb 9 7:00 AM MBA Mortgage Purchase Index 02/04
Feb 9 10:30 AM Crude Inventories 02/05

This week future
Feb 10 8:30 AM Initial Claims 02/05
Feb 10 8:30 AM Continuing Claims 01/29
Feb 10 10:00 AM Wholesale Inventories Dec -
Feb 10 2:00 PM Treasury Budget
Feb 11 9:55 AM Mich Sentiment Feb

Market Outlook Feb 9, 2011
Remember how GE/MSNBC/Pravda's Jim Cramer told his listeners to sell after the Flash Crash and all the way down to the bottom and half way back up? Then since the market has been at the top all he does is lie and says how bearish the pundits are when this period has in fact been the most bullish period of pundit advice in the last two years. GE/MSNBC/Pravda's Jim Cramer is obviously in some kind of kickback fraud scheme with some hedge funds.

Treasuries rise on speculation Federal Reserve Chairman Ben S. Bernanke will reaffirm the central bank’s commitment to keeping interest rates low. Falling emerging market stock markets stoke demand for the safest assets.

Once again, on a cash flow basis this top is no higher than the 2010 top and is not yet a buy signal. All the cash that flowed out since the May 2010 Flash Crash has now gone back into the market yet the market is up 9% since then due to market price pumping and hedge funds no longer on the short side. That is why we would wait for a substantial correction. The hedge funds will likely start shorting the market soon and all that money could be removed very quickly. But the Tea Party may just be the best thing that has happened to the economy and could bring optimism back to the economy.

We would be prepared to buy stocks on the next significant dip. Flow into mutual funds from individual investors was down for twenty weeks following the flash crash last May 2010. For the past three weeks of January small investors got in right back in at the highs of the current rally. This means the end of each month probably will see an increase fund flow as 401 plans put money back into the market.

Precious metals, oil, and "rare earths" are just the beginning. Obama and his socialists are in the ozone and are clueless to what is going on. Obama fell for the "big oil ploy" and has shut down all offshore oil and all natural gas production. Obama socialists are so stupid they actually believes his socialist theoreticians who are telling him that these high prices will get American to buy electric cars. They are destroying the world economy by causing shortages that drive up prices. Jimmy Carter did the same stupid thing and Ronald Reagan turned the economy around on a dime when he introduced supply side stimulation. Instead Obama is giving us supply side strangulation.


World Markets
Many agencies are reporting the last index changes whish were last week. That is misleading because many exchanges are closed for Chinese New Year holidays.

Asian markets down sharply last night. China's holiday down -0.9%, Hong Kong down -1.4%, India closed, Jakarta down -1.2%, Seoul down -1.2%, and Japan down 0.2%,

European markets are down this morning in a range of about -0.1% to -0.8% half way through their day.

US pre-market futures are down about -0.31 % at 8:00 AM EST.