Jack Welch said the Wisconsin Democrats who fled their state are clueless and irresponsible.

Jack Welch said the Wisconsin Democrats who fled their state are clueless and irresponsible.

Jack Welch, former GE president before GE became a foreign stooge of socialist expansion, said today that Obama unionized 43,000 TSA workers in the stroke of his pen right after he said he would be more pro-business. He said it was a presidential card-check and was another union of government workers. He said the Wisconsin Democrats who fled their state to avoid cutting public sector cuts are clueless and irresponsible.

Government deficits are a major long-term worry of the very top U.S. government economists, who don't know their head from a hole in the ground, according to a survey released Monday. The survey of 47 top bureaucrat economists by the National Association of Business Economics predicted that the Federal deficit will jump to $1.4 trillion this fiscal year ending this September. In November they had forecast a $1.1 trillion deficit. The economists' forecast is still grossly optimistic considering that more than a month ago they heard the latest projection of a $1.5 trillion gap from the nonpartisan Congressional Budget Office. These economists are 75% socialists who try to guess what the party line is and are basically clueless. Obama is clueless and that is why he picks clueless advisors who tell him nice community activist success stories like how they help locals get away with their insurance fraud schemes.
Those socialists gave and still give their grossly erroneous forecast to pretend they are succeeding while in fact they are more inept than the Carter administration that invented economic malaise. State and local government budget deficits and debt was the second biggest worry after Obama waste.

Obama claimed he was saving jobs and helping the economy by pumping over $1Trillion 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 incompetent community activists and incompetent government workers and unions. Now Obama and Goldman Sucks claims that cutting that toilet bowl spending will hurt the economy. It hasn't helped so how could cutting that waste possibly hurt? The stupid unethical economic belief system of Obama and Goldman Sachs is what is destroying the entire free world not just America.


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 socialist 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.
8. Make it illegal for corporate officers and employee unions to influence their salary decisions other that through the economic performance for the taxpayers and other investors.

World Markets this week:
Riots continue across the socialist Islamic world as Obama maintains cuts of American production of gas and oil. Obama's former compatriots in Moslem states will return to the Stone Age and will no longer threaten the world when their oil runs out. Obama himself is a stone-age throwback.

Jack Welch former GE president before GE became a foreign stooge of socialist expansion said today that Obama unionized 43,000 TSA workers in the stroke of his pen right after he said he would be more pro-business. He said it was a presidential card-check and was another union of government workers. He said the Wisconsin Democrats who fled their state are clueless and irresponsible.

Energy is now the highest tax on the American economy as it has been for years in socialist countries who use energy policy as political power just as Obama does by punishing Americans in the southern energy rich states for voting against his policies of socialism, racism (against people with a work ethic), and stupidity. Obama is punishing Americans in the south for their rejection of his socialism and welfare policies.


US Economy

Yesterday
Personal Income Jan up 1.0% better than last month's 0.4%
Personal Spending Jan advanced a weak 0.2% compared with 0.7% last month
PCE Prices - Core Jan up 0.1% after no increase last month
Chicago PMI Feb up to 71.2 from 68.8 last month, possible political manipulation going on again in Chicago.
Pending Home Sales Dec fell again -2.8%

Today
Mar 1 10:00 AM Construction Spending Jan
Mar 1 10:00 AM ISM Index Feb
Mar 1 3:00 PM Auto Sales Mar
Mar 1 3:00 PM Truck Sales Mar

This week
Mar 2 7:00 AM MBA Mortgage Index 02/25
Mar 2 7:30 AM Challenger Job Cuts Feb
Mar 2 8:15 AM ADP Employment Change Feb
Mar 2 10:30 AM Crude Inventories 02/26
Mar 2 2:00 PM Fed's Beige Book Mar
Mar 3 8:30 AM Initial Claims 02/26
Mar 3 8:30 AM Continuing Claims 02/19
Mar 3 8:30 AM Productivity-Rev. Q4
Mar 3 8:30 AM Unit Labor Costs - Revised Q4
Mar 3 10:00 AM ISM Services Feb
Mar 4 8:30 AM Nonfarm Payrolls Feb
Mar 4 8:30 AM Nofarm Private Payrolls Feb
Mar 4 8:30 AM Nonfarm Private Payrolls Feb
Mar 4 8:30 AM Unemployment Rate Feb
Mar 4 8:30 AM Average Workweek Feb
Mar 4 8:30 AM Hourly Earnings Feb
Mar 4 10:00 AM Factory Orders Jan


Market Outlook March 1, 2011

Yesterday and today are days when corporate 401 plan flow money into the stock market. You would think corporations would be smarter and spread their fund flows around so that their employees get lower entry costs. But they are not. And when their employees all sell again at the same time their corporations will all take them out of the market at the same time so the employees will always get less. This is also another way places like Goldman Sucks can use inside information to take advantage of the corporation Lemmings as they run over the cliffs.

Volume dropped 20% as stocks recovered slightly again. Net cash flow is again out of the market. The market broke through the first 20-dma resistance line last 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 current 50-dma support could last a few days. But the real problem is profligate Democratic-socialist spending here and abroad. In America the crisis will only grow until the city and state fiscal budgets are approved this summer.

Look at the past year:
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 and worth taking. But we do not think this bottom is past. That could be another 7% lower. However we would buy stocks now on declines whenever opportunity knocks.

World Markets
Asian markets were up slightly last night. China up 0.5%, Hong Kong up 0.3%, Seoul down -1.2 %, and Japan up 1.2%,

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

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