Obama's stupidity has caused Brent oil hit $119 per barrel and crude is over $102 this with much of the world still in recession.

Obama's stupidity has caused Brent oil hit $119 per barrel and crude is over $102 this with much of the world still in recession. Obama's stupidity is the main reason because Obama stopped gas, oil development, and US nuclear after the BP oil spill last year. The Obama oil and gas stupidity is hitting us today. The Obama nuclear stupidity will hurt us long after America throws all the Democrat-socialists out of office. Obama is still building only windmills and solar panels.

QE2 was to create inflation of 2.5% and reduce longer-term interest rates of US Treasuries. Both have now happened whether it is good or just inflationary, but now energy prices are going to raise the corporate cost structure very rapidly and affect corporate income.

Oil over $100 a barrel today has the same economic impact as oil over $140 was in 2008 according to Ministers of Finance. Libyan oil helps Europe avoid dependency on Russian ex-USSR gangster governments.

The Islamists are rioting everywhere and overthrowing all the moderate corrupt (but not suicidal killer regime) governments. Obama is making the international situation far worse than when he took office.

Last week the SEC admitted they currently have no order audit trail to catch the socialist George Soros type equity market manipulators who grow rich buying, inflating, selling, and then imploding the free markets that they seek to destroy.

How to balance the USA budget:
1. Throw out every single Democrat socialist politician Federal, State, and Locally.
2. NASA should be cut sharply so they learn to get out of socialist politics and go back to real science. NASA has been taken over by the hysterical socialists pseudo-environmentalists. It is the socialist junk science product of our be-happy schools were 40% of the Obama be-happy kids drop out.
3. State, city, teachers, and security/safety workers should not be allowed to have unions just as they did not have unions until the beatniks of the late 1960's. The USA had an excellent school system before 1970 and had no immigration problem from be-happy banana republics until the 1960-70 drug culture took over US education.
4. Lay off 20% of state and federal workers this year and another 20% next year.
5. Send all the ignorant/criminal be-happy illegal immigrants' back to their socialist banana republic drug cartels where they come from. They don't want to work, they want to sell Mexican drugs and take over Texas. Thousands come to Texas every year just to have their children born in America so they can claim the child as an American citizen and appeal to the lunatic democrat-socialists for their own citizenship plus grants so they can pretend to study but actually drop out and get into the US welfare system. They come to America to go on the welfare and sell drugs not to help America. The derelicts have already destroyed Mexico and Haiti that way.

Current stock market manipulation could aid American left wing efforts to kill free enterprise and American freedoms. No honest American of good character would discredit America's economic freedom by corruptly manipulating the financial markets. Only socialists and communists believe in corrupting and manipulating free markets and interestingly they stay in power and make their children very rich living on Spain's "Gold Coast" along with the Islamic princes.

On February 14 MSNBC/Pravda's Jim Crammer officially pointed out and explicitly warned investors on at the start of the show that current evaluations have no basis in real economics. He said they are now based on imagination, the dreams of what could be. He admitted the economic and corporate news has been banal and disappointing. That was one week ago and then he ignore his own honest statement and continued tell people to buy.

This is a bubble and a crash could is immanent. Flash crashes are caused by fund managers using collected investor data to exploit the buy and stop limits people have set. Then later they slowly buy near the lows and up until the stock is almost fairly valued. Then they can repeat the process or they can find another stock to manipulate.

World Markets this week:
Riots continue across the socialist Islamic world as Obama cuts American production of gas and oil. If socialist Obama only had a brain! But then he is currency manipulator George Soros' straw president.
The world wide socialist "be happy" stimulation package has rewarded only the world's "be happy" people and a world wide economic depression threat is growing again. We must stop throwing money down the "be happy" toilet bowl. Unionized teachers in Wisconsin are an American disgrace just as bad as the Greek union gangsters and should all be fired the way Reagan fired striking air traffic controllers who shut down airports. We need to stop making "tax slaves" out of people who have a work ethic. Government does not create real jobs it creates "pretend jobs" to pay off "be happy" people who come out at demonstrations.

US Economy
Obama needs to stop meddling. He can't lead and he won't follow. Obama should just help America and get out of the way. Obama should let the new Republicans restore confidence to America by resigning now. The people who have work ethics are overtaxed. The lazy government workers all joined the union to steal from the American citizens. The union bosses in turn steal from the union pension funds so the members then demand more from the taxpayers. Wisconsin will begin laying off teachers this Friday unless the unions take a big cut this year.

This week:
 Case-Shiller 20-city Index Dec home prices declined -2.38% after declining last month-1.59%

 Consumer Confidence Feb jumped to 70.4 from 65.6 last month. This is phony socialist Obama baloney because they are mining up the UM University of Michigan confidence which is always higher than the CB Conference Board. See the truth at this site.
http://www.martincapital.com/chart-pgs/Pg_conco.htm

 The Baltic Dry index says the recovery has not begun. Select 3yrs to see how far trade has declined.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

 MBA Mortgage Index 02/18 MBA Mortgage Purchase Index 02/18 - Sales of existing U.S. homes rose a seasonally adjusted 2.7% in January, a fifth rise in six months as buyers snapped up cheaper homes, a real-estate trade group said Wednesday while also unveiling a major review of the quality of its data. The phony sales reported since Obama took office is now under scrutiny since other measurements of home sales show an overstatement of up to 20%. Yun said NAR would invite around 30 outside economists, and possibly the media, to agree on the truthful non-socialist type benchmarking process.

 Existing Home Sales Jan were adjusted to 5.36M compared to 5.28M last month. This is a meaningless difference because the seasonal correction (scatter) to the data was about 30% and the change is less than 2%.

Today
Feb 24 8:30 AM Initial Claims 02/19
Feb 24 8:30 AM Continuing Claims 02/12
Feb 24 8:30 AM Durable Orders Jan
Feb 24 8:30 AM Durable Orders ex Transportation Jan
Feb 24 10:00 AM FHFA Housing Price Index Dec
Feb 24 10:00 AM New Home Sales Jan
Feb 24 11:00 AM Crude Inventories 02/19
Feb 25 8:30 AM GDP - Second Estimate Q4 -
Feb 25 8:30 AM GDP Deflator - Second Estimate Q4
Feb 25 9:55 AM Michigan Sentiment - Final Feb

Market Outlook Feb 24, 2011
As stocks plunged 1% yesterday volume soared up another 6% on top of the 183% rise the first day of selling. The market broke through the first 20-dma resistance line Tuesday but we need to watch for follow through with the 50-dma for an additional estimated 10% decline. We estimate support before the decline hits 16% total.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#chart2:symbo yel=^nya;range=1y;indicator=ema(50,20)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Last Friday the SEC announced plans to prevent another flash crash (plan to use daily limit up and down moves like the futures market). This will not go into effect for a while. Currently even naked trading is allowed with no audit trails. They propose that at some future time they will also have audit trails. Imagine that…today the SEC will admit they currently have no audit trail to catch the socialist George Soros type manipulators who grow rich manipulating the free markets they seek to destroy.


We are prepared to buy stocks on a significant decline.

World Markets
Asian markets were down again last night. China up 0.6%, Hong Kong down -1.3%, Taiwan down -0.6%, and Japan down -1.2%,

European markets are down sharply this morning in a range of about -0.3% to -1.7% half way through their day.

US pre-market futures are down about -0.6 % at 8 AM EST.