Bernacke on Prozac exudes confidence and promises more inflation but 12 million to remain jobless and losing what little skills they had before.

Bernacke on Prozac exudes confidence and promises more inflation but 12 million to remain jobless and losing what little skills they had before. At least QE2 will die.

A previously unseen Obama birth certificate was produced when Donald Trump and other doubters revealed that Barack Obama was using an unsigned facsimile claiming it was the real birth certificate. We pointed that out a long, long time ago. The new “real” birth certificate now looks real but the picture of Obama with his mother who was passing through Hawaii to have the baby looks like Obama was at least 3 yrs old when he was “born” in America. Maybe he was maturer for his age and did well in school because he was able to stand and walk when he was “born” in America. In Kenya they don’t keep records but some claim they can run the day they are born.

Science must be kept uncorrupted by the lunatic left who invented “junk science”. The National Socialists created a genetic junk science under their socialist leader Adolf Hitler. Teach the NASA junk scientists a lesson. Fire all the NASA employees and start a new NASA in three years after the leftists are removed from office. That will help balance the budget now. NASA’s fate was signed more than 15 years ago when it began distorting analysis to support the man-created-global-warming fraud. No scientists ever suggested that global warming had not followed the last ten ice ages. But the salient knowledge is that first of ten ice ages only started occurring about 1 million years ago because the earth was hot and has been cooling down for the last 500 million years… not warming. Before one million years ago there was no global warming (ice cap melting) because earth was so warm glaciers did not occur so there never was any significant ice to melt. Whereas 10,000 idiot-leftist scientists signed a petition supporting man-made global warming, so far 31487 competent scientists signed a petition saying it is a farce. The father of atomic power, Edward Teller is one of the many scientists who outnumber the incompetent lunatic left scientists by 3.1 to 1. NASA no longer has any credibility when it comes to the scientific method. See:
http://www.petitionproject.org/

The outlook on Japan’s local-currency debt rating, at AA-, the fourth-highest grade, was lowered from “stable,” to negative S&P announced. The company had reduced the rating by one step in January in the first cut since 2002. Moody’s Investors Service said last month the disaster might bring forward the “tipping point” for the country’s bond market.

Amazon posted first-quarter net income that came in well below Wall Street’s expectations
Hackers stole personal info from playstation network. Sony has shut down the network and engaged an outside security firm to try and figure out what happened. 77 million PlayStation Network and Qriocity online service customers that their credit-card data, billing addresses and other personal information been stolen.

The problem with electric cars is not low weight but small size so passengers are de-capitated when they slide under conventional trucks and cars. Crashing electric cars into walls is not the same as crashing low heavy vehicles into high truck chassis. When an electric car crashes what happens to the chemicals within the broken batteries? Can the contents blind and disfigure people and is it not an environmental hazard? Don’t heavy batteries make the cars heavier and therefore require more energy to accelerate? While the car uses electricity not gasoline, isn’t most of the electricity that is used to charge the car coming from utility plants that burn coal? Isn’t converting coal (3 conversions) to AC electricity then to DC electricity and then to car power less efficient than converting gasoline directly to car power (1 conversion)? Are the leftist lunatics and leftist environmentalists so stupid they think requiring 2 additional conversions is better efficiency? And just how much energy is being wasted in building the batteries, the charging stations, and the infrastructure. And does anyone believe that the batteries will really last 20 years as the lunatic left claims? Not only is Obama destroying the American economy he is creating the biggest environmental hazard in the world. Is GE/MSNBC/Pravda designing batteries with the same care and intelligence they used to design the 6 Japanese reactors on the coast of Japan on an earthquake fault line, with the partially consumed fissionable nuclear waste stored on top of the reactors?


World Markets:
It is time for the USA to leave the IMF. The IMF has been giving away America’s future and the BRICS (emerging countries) are totally ungrateful. It is time for America to hunker down and stop support socialist governments around the world and get back to balancing the budget.

Mexican bond investors are paring inflation bets from a 14-month high after consumer prices rose less than forecast over the past two months.

Xinjiang Goldwind Science and Technology Co. won two orders for its wind turbines in the U.S., helping the Chinese manufacturer expand into the world’s second-biggest energy market.

The yen fell versus all of its major counterparts on speculation the Bank of Japan will signal this week it will maintain monetary stimulus QE policy.

US Market Highlights
Leading Indicators Mar fell to 0.4% from 0.8% last month.
FHFA Housing Price Index Feb fell -1.6% after declining -0.3% last month.
New Home Sales Mar rose to 300K from 270K last month but prices fell again.
Case-Sheller 20-city Index Feb down -3.33% after being down -3.10% last month
Consumer Confidence Apr rose to 65.4 from 63.8 last month. It is about half what it was in 2008.

Yesterday
MBA Mortgage Index 04/22 fell to -5.6 from 5.3 last month
Durable Orders Mar rose 2.5% after declining -0.6% last month
Durable Orders -ex Transportation Mar rose 1.3% after declining -0.3% last month
Crude Inventories 04/23 rose a record 6.156M after declining -2.322M last week.
FOMC Rate Decision Apr unchanged at 0.25%

This week
Apr 28 8:30 AM GDP-Adv. Q1
Apr 28 8:30 AM GDP Deflator Q1
Apr 28 8:30 AM Initial Claims 04/23
Apr 28 8:30 AM Continuing Claims 04/16
Apr 28 10:00 AM Pending Home Sales Mar
Apr 29 8:30 AM Personal Income Mar
Apr 29 8:30 AM Personal Spending Mar -
Apr 29 8:30 AM PCE Prices - Core Mar
Apr 29 8:30 AM Employment Cost Index Q1
Apr 29 9:45 AM Chicago PMI Apr
Apr 29 9:55 AM Michigan Sentiment - Final Apr

Market Outlook April 28, 2011
Market volume increased Wednesday while testing tops again. The VIX bottomed complacently low, a very bearish sign of overconfidence.
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=

The stock market is continuing to test its head and shoulders. When adjust for the cash flow the market has topped out.
http://finance.yahoo.com/q/ta?s=%5EGSPC&t=1y&l=on&z=m&q=l&p=m50&a=m26-12-9&c=

World Markets
International trade shows that the world economy has only revived about 25% not the 60% shown by the stock and commodities markets. QE2 is creating the stock market and commodity. That means more than half of the stock market rise from the 2009 lows is unsupportable and could evaporate. See:

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

Asian markets were down last night. China down –1.3%, Hong Kong down –0.4%, India down -0.8%, and Japan up 1.6%.

European markets are spread this morning in a range of about –0.9% to +0.5% half way through their day.

US pre-market futures are flat today in a range of about 0% to 0.2 % at 6:30 AM EST.