GE/MSNBC/Pravda only pays 3.6% in US taxes.

GE/MSNBC/Pravda only pays 3.6% in US taxes. Yet they are a major defense contractor and the builder of defective nuclear power plants now slowly poisoning Japanese citizens. Sunday it was reported on the first segment of 60-Minutes TV program that GE/MSNBC/Pravda has moved so much work and jobs overseas that it only pays 3.6% in US taxes. Normally taxes are 35% of income so this means that since they only pay one-eighth normal USA taxes they have moved 88% of their work overseas. They should now be considered a foreign corporation and MSMBC should have to register as a foreign propaganda agency. The GE reactor designs used in Japan are so inept that they literally kept partially spent fuel rods in water tanks on the reactor roofs right over the reactors. When the reactor hydrogen explosions occurred the dirty nuclear waste fell onto the reactors. Japan now has tons of nuclear fissionable materials at risk.

The recent report on the investigation of the banks prior to Obama's election shows that many bankers were engaged in outright fraud. What the socialist bankers did was divide the mortgages into slices (tranches in French) with all the known worthless mortgages in one bottom trance which no one would pay one cent for. However the banks made a lot of money selling the better mortgages derivatives. To hide the fact that the bottom tranch was worthless the corrupt bankers traded them back and forth with each other at their full value so that they could use the worthless paper at full value and leverage themselves by using the worthless tranches as collateral for getting valuable low interest loans from the FED. So they even made a profit on the bad loans that way. But the more mortgage derivatives they sold the more worthless tranches they accumulated until the banks were essentially worthless although to the accountants they had a lot of collateral. Then Goldman Sucks and the other worthless banks concealed the fact that the bank assets were worthless and started buying insurance against the worthless derivatives so the insurance companies would have to pay them cash for the derivatives as they failed. Goldman Sucks made a fortune on their insider knowledge and none of the Ponzi scheme bank executives were investigated or ever returned a dime that they made on the multimillion dollar bonuses they got for keeping their mouths shut while they participated in the Ponzi Scheme. They had about ten tomes the hidden losses that the insurance companies had available to cover the losses. So the system froze up instantly because there was not enough money even in the US treasury to bail the banks and insurance companies out. Obama let them all off the hook! Why??? Because all the corrupt socialist bankers running the Ponzi scheme got Obama elected because they clearly assumed he was naïve and could be manipulated. The president of Goldman Sucks, when the Ponzi scheme was at a high point was Paulson. He was the kingpin for the corruption and he was then chosen to run the whole bailout for Obama. Yes, instead of going to jail all the socialist funding Ponzi Bank operators bought Obama and now Obama can only hide the evidence because Obama comes out looking a lot dumber than he said even Bush was.

The Wall Street Journal reported Saturday that of the hundreds of US social security districts, little Puerto Rico has 9 of the 10 highest number of disability payments being paid monthly, an obvious fraud. The other is a district that has a relatively low percentage of WASPs and Native North Americans. We do not want racist inequality in the USA. There should be no significant variation (over any 10-yr. period) for any state, protectorate, racial or ethnic group. WASPs, blacks, Hispanics, Hawaiians, and Native North Americans all should get statistically equal government handouts for education, subsidies, grants, welfare, government disability and etc. Otherwise it is proof of institutionalized racism. Likewise no race/ethnic group should have to pay a higher percentage of total local, state, and federal income. That does not appear to be the case in the USA. There is growing evidence of discrimination in the USA against WASPs and Native North Americans. And there is growing evidence that the Socialist-democrats are becoming the party by the racists and institutionalized racism against the two ethnic groups who created the USA. And since Socialist-democrats are clearly a racist run party they should be denounced and fined heavily to make reparations for what they have unjustly taken. The Native North Americans and the WASPs who created the original freedoms, the American system for economic prosperity, and the greatness of the USA are now minority groups. The usurpers of their wealth need to have an educational system that teaches good character traits such as being more responsible, hard-working, conscientious, honest, dependable, prudent, respectful, considerate, fair, diligent, confident, reliable, responsive, trustworthy, and decisive like the Puritan Protestants and Native North Americans. Be-happy freeloaders came for American welfare and for the corruption and fraudulent disability payments.

Obama is gutting the American economy shutting down our hydrocarbon energy resources and lying to the American people. They do not include the cost of energy in the core inflation number. Energy has already jumped 50% in cost under Obama. The high cost of energy makes American products cost more and our trade deficit worse. It will likely end the feeble recovery we had started.

Also there is now major socialist manipulation of American economic and labor statistics. What the socialists cannot do for the economy they make up with fake economic statistics the way the Russians did before their International Socialism went bankrupt and the USSR collapsed. Obama systematically moves bad economic news backward to the previous report period to make the latest report look better. It is as foolish and corrupt as moving corporate debt off the books to protect the chief executive's derrière while the enterprise is being gutted.


World Markets last week:
Last week highlights
Obama is now systematically moving bad news backward from the present reporting period into the previous report (an adjustment few people look at) to make the latest report look much better. First of all it makes the past look worse and the present improves by twice the amount he moves back in time. Say last week you made $500 and this week you made $495 or 1% less. Obama goes back and changes what he had for two weeks ago to say that you only made $490 not $500 last week and that makes two weeks ago look 2% worse. So he can change last week and report -2% there. But this week relative to last week you are now up 1%. He shows you swung a full 2% from a -1% trend to a +1% trend and he can do the same thing over and over. All they do is make the previous report worse by issuing an update when this week's report comes out and looks better. What Obama does is as foolish and just as corrupt as moving corporate debt off the books to protect the chief executive's derriere while the enterprise is being gutted and the president gets a bigger bonus.

Initial Claims 03/19 before Obama manipulation were 385K the same as last week. Obama however moved 2K from this week to last week to pretend things got 3K better.
Continuing Claims 03/12 before Obama manipulation were 3738K up from 3706K last week. Obama however moved 17K from this week to last week to pretend things got 2K better.
U.S. Durable goods orders unexpectedly fell in February. Orders for goods meant to last at least three years dropped 0.9 percent after a gain of 3.2% reported the prior month that was exaggerated.
The Commerce Department said that durable goods orders excluding transportation equipment fell for a second month including demand for business equipment declined -0.6% in Feb.
GDP - Third Estimate Q4 3.1% second estimate 2.8% first estimate 3.3%
GDP Deflator - Third Estimate Q4 0.4% same as last time 0.4%
Michigan Sentiment - Final Mar was 67.5 down steeply from 68.2.

This week's reports
Mar 28 8:30 AM Personal Income Feb
Personal Spending Feb
PCE Prices - Core Feb
Pending Home Sales Jan

Mar 29 9:00 AM Case-Shiller 20-city Index Jan
Consumer Confidence Mar

Mar 30 7:00 AM MBA Mortgage Index 03/25
Challenger Job Cuts Mar
ADP Employment Change Mar
Crude Inventories 03/26

Mar 31 8:30 AM Initial Claims 03/26
Continuing Claims 03/19
Chicago PMI Mar
Factory Orders Feb

Apr 1 8:30 AM Nonfarm Payrolls Mar
Nonfarm Private Payrolls Mar -
Unemployment Rate Mar
Hourly Earnings Mar
Average Workweek Mar
ISM Index Mar
Construction Spending Feb
Auto Sales Apr
PM Truck Sales Apr

Market Outlook March 28, 2011
Friday buying volume was very low again and sellers let buyers get on the hook once more. But the VIX reversed Friday at around noontime and started increasing indicating that the big money is now betting on resumption this week of the decline. Here is the VIX. Look at the last 3 months and last five days to see the turn:
http://finance.yahoo.com/q/bc?s=%5EVIX&t=3m&l=on&z=m&q=l&c=
http://finance.yahoo.com/q/bc?s=%5EVIX&t=5d&l=on&z=m&q=l&c=

The markets all previously broke below their 50 point moving averages and now appear to be topping out at that level last week. MSNBC lies and says the market did not break through the 50dma. You be the judge. To us it looks like the 47dma is no longer a support level but instead has become the resistance level.

QQQ
http://finance.yahoo.com/q/ta?t=1y&l=on&z=m&q=l&p=e50&a=m26-12-9&c=&s=qqq
S&P
http://finance.yahoo.com/q/ta?s=%5EGSPC&t=1y&l=on&z=m&q=l&p=m50&a=m26-12-9&c=

Never in Since WWII has the American economy been in so much chronic trouble because Obama has been introducing socialism and racism, while abandoning middle class housing at the same time. He does not care about housing because most of his voting block, like his ACORN brown shirt thugs and the Black Panther poll worker intimidators, are renters. So he is letting the American middle class go bankrupt in their houses instead of requiring the banks clean up the mortgage mess they created.

We expect a crisis of confidence in Obama to begin soon. There are now even reports on U-tube that Obama uses NLP and other covert hypnotic suggestion techniques on his supporters and in his speeches. They are mind control techniques more advanced than Hitler used to mesmerize Nazi Germany. For instance see:
http://www.youtube.com/watch?v=z4iDwV7hCmw

We think the next stock market support level will be down at Nov 4, 2010 levels about another 7% lower. But actually the main support starts about 17% lower than yesterday's close.

World Markets
International trade shows that the world economy has only revived about 25% not the 60% shown by the stock and commodities markets. Look at the last five years of world trade and the last year and you can see the world has not recovered the way Obama and GE/MSNBC/Pravda socialists are telling Americans. In fact world trade based on actual shipments is now one third what it was last September. See:

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Asian markets were mixed again last night. China up 0.2%, Hong Kong down -0.4%, Taiwan down -0.7%, India up 0.7%, and Japan down -0.6%.

European markets are mixed this morning up in a range of about -0.2% to 0.4% half way through their day.

US pre-market futures are flat at about 0.1 % at 7:00 AM EST.