Goldman Sucks mirrors the nonsense that Obama spouted two years ago when unemployment grew and the economy slowed due to their stupidity. Then Obama claimed he was saving jobs and helping the economy by pumping over $Trillion into Acorn type shovel ready infra structure building which turned out to be the toilet bowls of community activism for welfare handouts, union pension funding, and state and city bailouts of government worker unions such that all the pain was felt in private sector and all the gain was felt by community activists and government workers and unions. The stupid unethical economic belief system of Obama and Goldman Sachs is what is destroying the entire free world not just America.
Goldman Sucks is in bed with democrat socialists. Socialist-democrats seized on a Goldman Sucks Group Inc. report issued earlier this week that said the House-approved cuts would hurt the economy in the short term. The $61 billion in spending cuts would shave between 1.5 and 2 percentage points off economic growth during the second and third quarters of this year, according to Goldman Sucks. It is the mirror of the nonsense Obama of two years ago when Obama-Goldman Sucks when they said the spending spree will help. We need to cut government spending because it is making America into a welfare state where as we saw, welfare people go to city hall (the news showed the mobs of "be happy" people in Chicago and Atlanta) to pick up cash because Goldman and Obama truly believed that giving America's treasure to people with no work ethic was the best way to stimulate the American economy. Now they say letting taxpaying people and corporations invest the money they earn will hurt the economy more than continuing to enhance the life styles of people on welfare and in big unions, and big government. Obama has cheated American taxpayers the same way Goldman Sachs cheats its own clients by betting against them.
Gaddafi said he talked with Obama and America is now in good hands and Algeria has no quarrels with America. He blamed his problems instead on al Quada's hallucinogenic drugs.
GM falls to lowest level since the unions were bailed out and their government style pensions were fortified so they could double contributions to elect the socialists in the Congress.
Dish Network slumps after losing far more subscribers than analysts predicted
Obama's stupidity is the main reason for no American energy policy. Obama stopped gas, oil development, and US nuclear after the BP oil spill last year. The Obama nuclear, 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. But $5 gasoline is what Obama wants so that he can kill the automobile industry and force states to build mass transit (not because they need or want it).
QE2 was intended 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.
The insane Islamists are gaining power everywhere and overthrowing the moderate corrupt, but not suicidal killer regimes. Obama is making the international situation far worse than when he took office.
Last week the SEC admitted they have no 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. Break up Goldman Sachs and AIG and return the cash to the American treasury that bailed them out.
6. Withdraw Obama care legislation.
7. 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 Goldman Sachs and AIG 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 and stealing from their own clients by selling them defective products and betting (with insurance) against them. 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.
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.
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.
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%.
Yesterday
Initial Claims 02/19 declined to 391K from 413K last week
Continuing Claims 02/12 declined to 3790K from 3911K last week
Durable Orders Jan increased 2.7% after decreasing -2.3% last month. Boeing got the $35Billion tanker contract.
Durable Orders ex aircraft Jan dropped -3.6% after being up 0.8% last month
FHFA Housing Price Index Dec dropped -0.3% after dropping -0.3% last month
New Home Sales Jan fell to 284K from the already low rate of 329K last month
Crude Inventories 02/19 are a very low 0.822M and were a low 0.860M last week
Today
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 25, 2011
Volume dropped 11% as stocks bounced before hitting the 50-dma line. 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. The support could last two or three days. But the real problem is profligate Democratic-socialist spending here and abroad. In America the crisis will grow until the city and state fiscal budgets are approved this summer.
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
We are prepared to buy stocks on a significant decline. Some stocks are already buying opportunities but we do not think this bottom is over. That could be another 7% lower.
World Markets
Asian markets were down again last night. China down -0.1%, Hong Kong up 1.8%, India up 0.4%, Taiwan up 0.7%, and Japan up 0.7%,
European markets are up this morning in a range of about 0.3% to 1.3% half way through their day.
US pre-market futures are up about 0.7% at 7:30 AM EST.
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