China and the USA have to do something about the socialist Islamic terrorist enemies of world peace and sanity.

China and the USA were colonies and fought WWII on the same side. China and the USA have to do something about the socialist Islamic terrorist enemies of world peace and sanity. Now is the time to overthrow criminal Islamic terrorist governments everywhere including in Pakistan.

Pakistan, is a socialist Islamic terrorist nation and an enemy of the free world. For six years the Pakistani government has knowingly sheltered the entire Talliban and al-Qaeda leaderships. That makes Pakistan’s government complicit with a criminal killing machine. It is believed now that Pakistani radical Islamic socialists have many safe houses and that they harbor and move their many terrorists around the country to protect them.

China and the USA now both see Pakistan and India as nuclear threats to world peace. The armed terrorists want to take over Pakistan and make it a terrorist Khalifa, a worldwide Islamic killing machine with nuclear weapons headed by an insane descendent of Muhammad. Pakistanis are the same bloodline as the people of India but set upon converting India by the sword. That would put the Islamic terrorists in a position to try to convert China from within with terrorism and fear.

Senators and Congressmen to re-evaluate the US relationship with Pakistan. Pakistan had mobilized their jet fighters against the USA but the US force killed Osama bin Laden and withdrew safely. Pakistan may be next for a NATO invasion after Iraq and Afghanistan.

Syrian radical socialists Islamic terrorists have abducted more than 1,000 Syrian men and boys as Syria’s crackdown on the worldwide anti socialist Islamic terrorist revolution intensifies. Now is the time to decapitate the Syrian snake.

World Markets:
Greek Prime Minister George Papandreou says Greece doesn’t need to restructure its debt long as Germany does not require they ever pay back their loans. But if Germany wants interest payments on the loans then Germany must provide more loans to pay the interest. It sounds like the Greek unions suckered in Germany pretty well. Who says the Germans know how to handle their money? Portugal is about to get their German handout this week.
K1 Group founder Helmut Kiener, accused of defrauding investors of 345 million Euros ($513 million), told a court his funds weren’t intentionally set up as a Ponzi scheme. He claimed that his personal homes and personal aircraft were acquired with investor money to improve his productivity and they would have eventually have been corporate profit centers.

Fraud in the EU CO2 Market is rampant. The whole concept of “human caused global warming” is a scam that takes advantage of European administrator conceit and inbreeding that leaves them too stupid and naïve to realizes they are managing the biggest scam of this decade. The European Union will take testimony this week on a regulatory “gap” exposed earlier this year, when criminals stole carbon permits and forced the closure of spot trading for 15 days. The European Commission’s moron overseer of the world’s largest emissions-trading system, is due to meet today in Brussels with emitters, traders, researchers and climate groups to discuss protection for contracts for immediate delivery. Spot volume, historically accounting for 15 percent of the EU carbon market, has yet to bounce back from this year’s thefts by online hackers and value-added tax fraud in 2010. Helmut Kiener offered to run the agency if acquitted of his fraud charges.

The number of homes sold in Hong Kong in April fell to the lowest level in more than two years as government curbs and rising mortgage rates indicate the two-year housing price surge is ending.

London’s Sterling traded near its lowest level since at least 1975 against a basket of its nine most-traded currencies. Home prices fell 0.2 percent in April, the first decline in three months to a four-month low. Gilts declined, pushing the 10-year yield up from near a four- month low. The Euro is also approaching an 18-month high versus dollar too.

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.


US Economic Highlights
Construction Spending in Mar improved 1.4% after declining -2.4% last month. Without Obama socialist manipulation the improvement was 0.4% this month (still good).
AM ISM Index Apr declined to 60.4 from 61.2 last month indicating the economic showdown is worsening. The Obama misery index is the sum of the inflation rate and the unemployment rate. It is about 13% now. Under Jimmy Carter the misery index was over 16% because they used real inflation not the phony FED core rate to compute American misery.
Factory Orders Mar up 3.0%, very good compared to 0.7% last month!

May 2 3:00 PM Auto Sales May Once again the auto and truck sales news is delayed since it is so bad.
May 2 3:00 PM Truck Sales May

This week
May 4 7:00 AM MBA Mortgage Index 04/29
May 4 7:30 AM Challenger Job Cuts Apr
May 4 8:15 AM ADP Employment Change Apr
May 4 10:00 AM ISM Services Apr
May 4 10:30 AM Crude Inventories 04/30
May 5 8:30 AM Initial Claims 04/30
May 5 8:30 AM Continuing Claims 04/23 -
May 5 8:30 AM Productivity-Prel Q1
May 5 8:30 AM Unit Labor Costs Q1
May 6 8:30 AM Nonfarm Payrolls Apr
May 6 8:30 AM Nonfarm Private Payrolls Apr
May 6 8:30 AM Unemployment Rate Apr
May 6 8:30 AM Hourly Earnings Apr
May 6 8:30 AM Average Workweek Apr
May 6 3:00 PM Consumer Credit Mar


Market Outlook May 4, 2011
The death of Osama caused a brief stock market rally in much of the free world yesterday. Socialist Islamic terrorists are now hated by sane Islamists worldwide and terrorist identities and hideouts are being given to the American CIA everywhere. The Special Forces have been authorized to go abroad and kill the Islamic terrorists wherever they live. When David Petraeus is in the CIA and directing it (very soon)… be ready for massive executions of Islamic terrorists worldwide.

Do not be surprised if the Pakistani airforce is destroyed and Pakistan and India are forced to stand down and surrender up their nuclear weapons to pacify the region. China and the USA both now see Pakistan and India as nuclear threats to world peace.

The American economy is stagnant because Obama refuses to cut welfare which is an enormous economic inefficiency. Toothless immigrant welfare recipients are seen regularly at gambling casinos cashing welfare checks and illegally exchanging food stamps for cash. American welfare corruption has more than doubled under Obama. Obama gave over $30Billion to black constituents who fraudulently claimed they were owed reparations because their ancestors did not get all the fraudulent handouts they were entitled to under previous administrations. This Obama corruption of the farm bureau alone is justification for firing that entire government office.

World Markets
International trade shows that the world economy has only revived about 25% not the 70% shown by the stock and commodities markets. QE2 is created the current stock market and commodity bubble. That means more than half of the stock market rise from the 2009 lows is unsupportable and could evaporate quickly. See:

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

Click on the 3yr chart.

Asian markets were down sharply last night. China down –2.4%, Hong Kong down –1.3%, India down -0.4%, Japan closed again and Seoul down -0.9%.

European markets are down sharply again this morning in a range of about 0% to -1.4% half way through their day.

US pre-market futures are down today in a range of about -0.2% to -0.3 % at 7:30 AM EST.